Estimates for next week’s “advance” report on GDP growth for the second quarter continue to point to a rebound after Q1’s sluggish pace, but the outlook has been revised down in recent weeks. The Wall Street Journal’s latest survey data, for instance, is projecting a 2.7% advance for Q2 (real seasonally adjusted annual rate), based on this…
WTI Crude Oil The WTI Crude Oil market rallied at the beginning of the session on Monday, but found the area near the $47 level to be far too resistive. Because of this, we pulled back to the $46 level, and I think that the market will probably go down to the $45 level which…
Echoing the trend set by JPM and Wells Fargo last Friday, moments ago Bank of America (BAC) reported revenue and earnings that modestly beat expectations, with Q2 revenue of $22.8bn, above the $21.8bn expected, generating net income of $5.3 billion up 10% Y/Y, and EPS of $0.46, above the $0.43 estimate, and 12% higher than…
Over the weekend I had planned today to comment on the Chinese ban on mention of Winnie the Pooh, and on Weibo. This is because of an unflattering cartoon four years ago which compared the pudgy Chinese leader Xi Jinping with tall, slim Barrack Obama calling them Winnie and Tigger. Then in 2014 a cartoon…
Have you been eager to see how UnitedHealth Group Inc. (UNH – Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this leading health insurance company’s earnings release this morning. An Earnings Beat UnitedHealth came out with adjusted earnings per share of $2.46, beating the Zacks Consensus Estimate of…
As we get into the midst of the Q2 earnings season, we can take a closer look at the results through the 1st quarter of the year. Despite the exuberance from the media over the “number of companies that beat estimates” during the most recent reported period, 12-month operating earnings per share rose from $106.26 per share in Q4…
Previous: The US dollar index fell by 0.12% to 95.15 on Monday. Correspondingly, the euro/dollar rate rose by 0.11% to 1.1478 (+13 pips). The euro closed up against the dollar thanks to growth on the euro/pound cross, which rose by 0.49% to 0.8793. On the back of that, the pound/dollar fell by 0.37% to 1.3053….
Rounding out an overnight session that saw a couple of notable FX moves is the pound, which dropped from a 10-month high after hotly anticipated UK CPI data came in, well, not hot. June inflation fell to 2.6% y/y, missing estimates of 2.9%. The print was near the low end of the estimate range. U.K. June Core…
Bulletin headline summary from RanSquawk The USD-index dropped to 10 month lows amid fading hopes of US reforms after Obamacare repeal effectively died last night. Soft CPI from the UK and NZ weigh on both currencies Looking ahead, highlights include BoE’s Carney and the API Crude report The Dollar Index sank to its lowest level since…
Indian share markets continued to witness selling pressure in the afternoon session amid weak international markets. At the closing bell, the BSE Sensex stood lower by 364 points, while the NSE Nifty finished down by 89 points. Meanwhile, both the S&P BSE Mid Cap & S&P BSE Small Cap indices finished down by 0.6%. Losses were largely seen in FMCG stocks, realty stocks, and oil & gas…
