Shares of Gap Inc. GPS were up 7.7% Thursday in after-hours trading as the company raised its fiscal 2017 outlook following the better-than-expected third-quarter results. This was the company’s third straight quarter of positive earnings surprise while it recorded sixth consecutive sales beat. Also, comparable store sales (comps) reflected strength for the fourth quarter owing to continued momentum…
OVERNIGHT MARKETS AND NEWS Dec E-mini S&Ps (ESZ17 -0.06%) this morning are down 0.06% on concern Special Counsel Mueller’s criminal investigation between Trump campaign officials and Russia is deepening. Two people familiar with the matter said officials with Trumps’ election campaign were served subpoenas in mid-October for documents related to any contacts they had with…
The U.S. Census Bureau and the Department of Housing and Urban Development have now published their findings for October new residential building permits. The latest reading of 1.297M was an increase from 1.225M in September and above the Investing.com forecast of 1.247M. Here is the opening of this morning’s monthly report: Building Permits Privately-owned housing units authorized…
USD/JPY The US dollar rallied significantly during the trading session on Thursday, breaking above the 113 handle. By doing so, looks as if the market is trying to rally a bit, perhaps breaking higher than the range for the day could send this market to the 114.50 level above, which is the beginning of resistance….
Khalid A. Al-Falih, the Minister of Energy, Industry and Mineral Resources of Saudi Arabia and chairman of Saudi Aramco all but guaranteed an extension of oil production cuts to be officially announced at the end of the month despite the protestations by some Russian oil companies. Russian oil companies are desperate to raise production to…
Canada’s Consumer Price Index (CPI) is anticipated to slow down for the first time since June, and signs of easing price pressures may generate a near-term rebound in USD/CAD as it encourages the Bank of Canada (BoC) to carry a wait-and-see approach into 2018. Keep in mind, the BoC appears to be on course to further normalize…
Apple could be the first company in U.S. history to reach a trillion dollars in market capitalization by as early as 2018. According to top analysts such as Daniel Ives of GBH Insights, AAPL shares “could trade between $210 and $230 over the next year.” Currently AAPL is trading at $171 per share with a market cap…
Is the New Fed Chief Jeremy Powell a “Swamp Critter Extraordinaire”? Trump surrounding himself with elites disconnected from everyday society Realities of America’s difficulties not recognised by US power makers Powell will likely continue to protect Wall Street over Main Street Savers should diversify to protect themselves from Fed’s ponzi policies Just like many of his other campaign promises, Trump…
Price action on our complex of euro pairs has seen the single currency move strongly higher, particularly against the Aussie and Kiwi where the surge has taken both EUR/AUD and EUR/NZD to key resistance levels on the slower time frame charts. For EUR/AUD the key level lies in the 1.5640 region, and for EUR/NZD the…
At the September FOMC press conference, Yellen admitted that subdued inflation was a puzzle for the Fed. She said: “This year, the shortfall of inflation from 2 percent, when none of those factors is operative is more of a mystery, and I will not say that the committee clearly understands what the causes are of that.” Actually, the…
