Last week, Trump made a deal with Carrier (and its parent, United Technologies) to keep 800 jobs in Indiana rather than sending them to Mexico. Indiana agreed to give Carrier $7 million in tax breaks, and Trump assured United Technologies (UTX) that its $6 billion a year in military contracts would be secure. Then Tuesday…
After the market has a big move like the one the election just created, the next step is for it to be tested with a correction or pause. This test begins to reveal which sectors or stocks or asset classes will be the next winners or losers. The test of the Trump rally began last…
US factory orders rose 2.7% exactly matching the Econoday Consensus. As with the trade deficit, economists got this number correct because of the advance report. Thus, this rise will not impact GDP estimates. Diving into the Census Bureau report on Manufacturers’ Shipments, Inventories, and Orders, we see new orders for manufactured goods in October increased…
We covered extensively the copper price and copper miners in October, but decided to give the copper market a little bit of time to choose a direction. Right now, copper is at a point where it will start trending pretty soon. We don’t know which direction it will go, but it will become either a huge breakout or…
The Russell 2000 pushes again into the 10% zone of historic high prices (1,388 would be enough for the 5% zone last seen in February 2011). Back in 2011 the index rallied for another couple of months before it lost 30% from its high. The next few weeks would be a good opportunity to take…
We’re moving very well now after a week of consolidation and I’m heavy into stocks since Monday. Steel stocks continue to move well along with banks and some pharma stocks, while precious metals continue to try to build a base. SPY is ready to breakout again with 222 now the breakout/buy level. Perfect timing for…
Next week the Fed will make a decision on whether to hike rates or keep them steady. Since the last time I wrote about this topic, the chance of a rate hike has fallen from 100% to 92.7%. The idea that the chance of a rate hike is 100% was over the top given the…
With OPEC behind us, perhaps the market’s focus will swing back to fundamentals (as opposed to headlines) and following last week’s huge build across products, API reported the second week in a row of crude inventory draws (bigger than the expected 1.37mm drop). However, Gasoline and Distillates saw major builds but Cushing inventories rose over 4mm barrels – the most…
Sell Bonds Buy Stocks continues again according to recent data from a big bank US equities have once again regained the popular vote, but despite US equity inflows hitting a multi-year high, equity funds have cut exposure back to a neutral weighting following the US elections. Investors Continue To Sell Bonds Buy Stocks According to…
LOUISVILLE, Colo., Dec. 06, 2016 (GLOBE NEWSWIRE) — RGS Energy (Nasdaq:RGSE) today announced that it commenced a public offering of units (“Units”) consisting of its Class A common stock, par value $0.0001 per share (the “Common Stock”), and Series I Warrants to purchase shares of Common Stock. Roth Capital Partners will serve as exclusive placement…
