S&P 500 The S&P 500 fell rather significantly during the day on Monday, as the stock markets continue to fall around the world. We did get a bit of a bounce towards the end of the day, somewhere near the 1820 handle. This is an area that offered support in the past, and as a…
A couple of weeks ago, AT&T (NYSE:T) announced fourth-quarter earnings of 63 cents per share, which met analyst expectations. AT&T continues to trade with a dividend yield of around 5.5%. While AT&T’s earnings of 63 cents per share are clearly higher than its 48 cents per share dividend, a deeper analysis is required to determine the sustainability of…
The Japanese Nikkei 225 index is an interesting one to trade and several important conclusions can be drawn from traders taking a negative approach, a neutral approach and a positive approach. In the short-term, the consensus estimate is that the Nikkei 225 is bearish. In the medium-term, the index is neutral and in the long-term the bulls win out….
Stocks have been slumping since the beginning of 2016. Sellers just keep selling. Tech stocks have been dropping fast the past couple of weeks, from biotechs to internets to semiconductors to software; across the board, they have all been weak. We have been staying mostly in cash and playing the downside here and there. While…
WTI keeps dead-cat-bouncing thanks to the algos and crashing thanks to reality. This morning’s reality check on the overnight ramp comes courtesy of a double-whammy from Goldman (“wouldn’t be surprised to see WTI in the teens”) and The IEA which increased its estimate of excess-supply drastically. This has dragged WTI back below $30 once again and…
Today’s Economic events Japan M2 money stock y/y 3.20% vs. 3.10% Australia NAB business confidence 2 vs. 2 previously Japan prelim machine tool orders y/y -17.2% vs. -25.7% Germany industrial production m/m -1.20% vs. 0.20% Germany trade balance 19.4bn vs. 19.4bn MPC Member Cunliffe speech UK trade balance -9.9bn vs. -10.4bn Coming up JOLTS Job…
Investors and policymakers continue to wrestle with the economic impact of the dollar’s rise. The Federal Reserve has argued that the dollar’s appreciation acts as a headwind on exports and dampens imported inflation. At the same time, despite the dollar’s appreciation and the fall in oil prices, core inflation rose steadily last year. Core CPI rose from 1.6%…
The National Federation of Independent Business’s (NFIB) optimism index fell 1.3 points to 93.9 in January as a result of two important Indices declining. The NFIB says the Index is well below the 42-year average of 98. The market was expecting the index between 93.8 to 95.6 with consensus at 94.9 – versus the actual at…
Here is how global currency warfare and the global “race to debase” works: ECB cuts rates to -0.3%, the BOJ cuts to -0.1%, then the ECB cuts to -0.7% next. At least that’s JPMorgan’s most recent forecast, which now see Mario Draghi going full NIRPtard, and cutting the ECB’s -0.3% deposit rate to -0.5% next…
The best large cap sector is utilities. The top large cap industry is diversified utilities. The average score across large cap is 50.87, which is below the four week average score of 52.29. The average large cap stock in our universe is trading -29.09% below its 52 week high, -12% below its 200 dma, has…
