There was one thing keeping U.S. GDP growing in recent months: rising inventory. Well, no more. Moments ago the Dept of Commerce reported the latest inventory data and following major historical revisions, not only was last month’s inventory print slashes from 0.3% to -0.2%, but the February Inventory number was a dramatic -0.5% drop, far…
Oil is going higher. All the fundamental and technical analysts calling for lower oil got it wrong again at the cycle bottom. This has become almost like clockwork. As soon as they start pulling out “the fundamentals” you know it’s time for the cycle to bottom. During this second daily cycle oil will break through…
Is the item below (a) forthcoming market-moving events or (b) Yellen’s Coitus Calendar? Not sure? Well, any answer is OK, because it’s both! At least we don’t have to brace ourselves for any scheduled nonsense for a little while. As for equity markets, they did their typical “backing and filling” routine. After yesterday’s nice drop, they’ve…
Silver prices (FXCM: XAG/USD) are little changed in relation to yesterday’s levels. Prices have been trading sideways since mid-February and this may help to explain the reason why prices are sluggish despite the short-term downtrend. The short-term trend is bearish below the March 31 swing high of $15.56, as the March 31 level is lower than the prior swing high of $16.03…
A quick look at the current consolidations in Gold & Gold Stocks. GDX, GDXJ. Video Length: 00:08:45
Canada reported a gain of no less than 40.6K, around 4 times the early expectations. In addition, the unemployment rate fell to 7.1%, also a big beat. The vast majority of jobs came from full time jobs: 35.3K jobs were full time positions. The participation rate remained unchanged at 65.9%, making the drop in the unemployment…
One of the major points discussed after the financial crisis of 2008-09 was the asset concentration in the banking system in the United States. However, little has been done on that front with the “too big to fail” in 2007 becoming “too bigger to fail” by 2015. In the near-term, I don’t see any major…
Investors interested in deriving returns by gaining exposure to investment-grade bonds, also known as junk bonds, may consider high-yield bond mutual funds. These funds are expected to provide better returns than securities with higher ratings, including government and corporate bonds. Also, due to their higher yield feature, junk bonds are believed to be less susceptible…
Shares of apparel retailer Gap (GPS) are sliding in morning trading after the company reported March comparable sales that were weaker than the company expected and warned that excess inventory will pressure its gross margin. WHAT’S NEW: Gap announced yesterday after the market close that March comparable sales for all of its brands declined 6%,…
While big banks blame the collapse in Q1 GDP on “residual seasonality” (more on that later), with BofA recently slashing its Q1 estimate from as much as 2.7% to just 0.2%, the reality is that something is not well with the US consumer. The latest proof of this comes from the most recent Bank of…
