Global and local markets continued their stormy conditions last week with Federal Reserve Chair Janet Yellen’s speech before Congress standing out among the rest. In it, Yellen testified that the central bank was prepared to return to “normal” monetary policy if a worsening should occur in global stock markets. Yellen added that the Fed still…
There are three important observations in the latest “Things We’ve Learned This Week” weekly report from Credit Suisse’s James Wicklund. The first, is that anyone holding out for a big push higher across energy equities as a result of a wave of distressed equity M&A can give up: according to Credit Suisse the next wave…
China Resources Pharma, China’s second largest drug company and a subsidiary of state-owned China Resources, is planning an IPO in Hong Kong that will raise at least $1 billion; Hutchison China MediTech filed a third iteration of a prospectus for its $100 million US IPO, which is still not final; Pharmaron, a Beijing CRO/CMO, acquired…
The economic calendar is again light in a holiday-shortened week. There are a variety of important news items, but no dominant theme. I expect the punditry to seize the opportunity by asking: What are the biggest market worries? Prior Theme Recap In my last WTWA I predicted that everyone would be talking about the high and rising…
EUR/GBP- Although the cross remains biased to the upside, it faces a move lower on correction on loss of upside momentum. However, with a loss of upside momentum seen on Friday (see daily chart), support comes in at the 0.7700 level. Further down, support lies at the 0.7650 level where a violation will turn focus…
2015 was a relatively calm year for initial public offerings on Wall Street, especially in comparison to 2014, which saw the biggest IPO ever with Alibaba Group Holdings BABA. Only 169 companies made their market debut, including Fitbit Inc FIT, Ferrari NV RACE, Shake Shack (SHAK – Snapshot Report), GoDaddy Inc GDDY, and Spark Therapeutics ONCE. Some of the biggest IPO rumors—Uber,…
When celebrity investor Mark Cuban announces to the world that he is investing in gold, is that a sign that the ride up is just getting going, or that it has already peaked? The Gold Report reached out to long-time experts in the sector for a better understanding of what is moving the markets—negative interest rates, a…
You cannot manage anything when the information one is seeing is not correct. The USA data gathering systems are only estimates and extrapolations. Can you imagine what would happen if a CEO of a company was told that the company has “about $10 million of cash available” or “we estimate 2,000 widgets were built”…
Last week, more than 20 people were arrested in China over a $7.6 billion Ponzi scheme involving a peer-to-peer (P2P) lender called Ezubao. According to a report in the Financial Times, Ezubao had 900,000 investors, utterly dwarfing Bernard Madoff’s mere 13,500. As this latest example goes to show, we need to be extremely careful when faced with enticing…
