The non-seasonally adjusted Case-Shiller home price index (20 cities) year-over-year rate of home price growth slowed from 5.3 % to 5.1 %. However, the index authors stated “home prices have risen at a consistent 4.8% annual pace over the last two years without showing any signs of slowing”. Analyst Opinion of Case-Shiller HPI Recently, there…
The market recognizes that the indication by the FOMC at the end of last year that four rates hikes in 2016 may be appropriate was far from the mark. At the same time, investors are coming around to the prospects that the Fed is not one and done either. A key issue for investors and…
The Banking Index closed at 71.61 with the C-RSI at a good positive level of +10.43. The Banking Index was above its support line and its Accelerator was positive with an up tick. The Timing Indicator was in positive territory and merged+. The Banking Index was in a high risk up condition that started March 1st. What’s…
In November of 1863, Lincoln said that: “The government of the people, by the people, for the people… Oh, not you. Or you, or you, or you, or you, maybe that guy with the nice hat, no, not you, or you, not you either, maybe you…“ They edited some of that out but clearly our…
Headquartered in Winchester, VA, American Woodmark Corporation (AMWD) is a leading manufacturer and distributor of kitchen and bath cabinets for remodeling and new home construction markets. The company manufactures cabinets under four major brands: American Woodmark, Timberlake Cabinetry, Shenandoah Cabinetry and Waypoint Living Spaces and sells more than 500 cabinet lines in a wide variety of design…
Technical Outlook: S&P 500 (SPX) rallied back into the range high resistance yesterday, and potentially nullifying the pullback opportunity the market was looking going into the week. SPDRs S&P 500 (SPY) volume dropped off yesterday from the previous day’s above average reading. Now it is in line with what what we have seen over the past week. On the…
The Pound Sterling edged lower against the US Dollar as it appears the monetary policies for the UK and the US central banks clearly are on diverging paths. Investors have expectations that the Bank of England is likely to once again lower its benchmark interest rates while the Federal Reserve Bank looks to possibly hike…
Yesterday’s upbeat report on consumer spending and income in the US provides fresh support for last week’s moderately hawkish comments from Fed officials, who hinted that another interest-rate hike is near, perhaps as early as next month’s Federal Open Market Committee (FOMC) meeting. Yet support for pricing in a new round of policy tightening is modest at…
The European Commission has concluded that Ireland granted undue tax benefits of up to EUR13B to Apple. This is illegal under EU state aid rules, because it allowed Apple to pay substantially less tax than other businesses. Ireland must now recover the illegal aid. Commissioner Margrethe Vestager, in charge of competition policy, said: “Member States…
OVERNIGHT MARKETS AND NEWS Sep E-mini S&Ps (ESU16 -0.03%) are little changed, down -0.01%, as a nearly 2% loss in Apple in pre-market trading limits the upside in U.S. stocks. Apple retreated after it was ordered to pay back $14.5 billion when the European Commission said Ireland illegally slashed Apple’s tax bill. European stocks are up +0.85%…
