Toward the end of October, Brent crude prices crossed $60 per barrel for the first time in two years. They continued their ascent, peaking at around $64. Experts explained the spike with vague references to “geopolitical risk,” without really detailing what those risks entailed. Such explanations are not wrong, but they are careless. A proper…
Whatever you do – remember “all is well” Dow ended higher (with MMM and HD the biggest drivers) as Trannies, Small Caps (ugly into the close), and the Nasdaq red with S&P clinging to unchanged… until the very last minute… NOTE – this is Nasdaq’s first down day in the last five – and…
Ben White had this to say about Fed appointments last week in his Politico “Morning Money” column: “FED TALK – Look for the vice chair nomination to come fairly soon. Mohamed El-Erian remains in the mix but could also be a candidate for the New York Fed. John Taylor sounds like a no-go for vice…
Average Stock Breakout Since it is an equally-weighted and broad index, the Value Line Geometric Index is a good way to monitor the average stock. As shown in the chart below, a very long-term and bullish breakout occurred recently. Stocks Break Out Versus Bonds There is nothing in the stock/bond chart below that contradicts the…
(Audio length 00:12:16) Doc is with me today to discuss the charts of the the USD and oil. We also look at the continued flattening of the yield curve. All of these markets can tell us about what the economy is in for.
While not quite as damning as its 2018 credit forecast, Morgan Stanley’s chief equity strategist Michael Wilson released his 2018 equity outlook this morning, and unlike his last full year forecast which in retrospect was surprisingly accurate, is far more contained, if not outright pessimistic. Wilson himself is quick to remark on just how much conditions…
Market Analysis After the latest weekly Energy Information Agency (EIA) ethanol production update revealed an all-time high of 1.08 million average daily barrels of output (453.6 million gallons) from US operating bio-refineries, this warrants a focus on this important corn demand. For the 4th consecutive crop year and 49 out of last 50 months since…
Wells Fargo Securities analyst Eric Katz upgraded Meredith (MDP) to Outperform from Market Perform and raised his price target for the shares to $76 from $54. The media company in midday trading is up 9%, or $5.75, to $6.75. The analyst sees the Time Inc. (TIME) acquisition yielding “substantial” cost synergies that will fall to…
The latest $1.5-trillion tax reform plan has been a landmark achievement for President Trump. As usual, in its initial stage, the nation gave mixed reactions on the controversial bill. While a few Americans slammed the new plan as a ‘job killer,’ others found it to be ‘an excellent opportunity to fix a broken tax code.’…
Don’t you believe it! The melt-up madness now underway marks the most dangerous, unstable and combustible financial bubble in human history. It was fostered by Keynesian central bankers who were making it up as they went along. So doing, they had no central banking playbook or theory—just a dog-earned revival of Phillips Curve macroeconomics. Yet the…
