A series of cyber attacks kept cybersecurity stocks rallying throughout the year. Earlier this year, two back-to-back ransomware attacks were reported — WannaCry or WannaCrypt in May and Petya in June — followed by the massive data breach at Equifax (EFX) in September. In addition to these, the data theft and ransom paid by Uber…
Of the five Federal Reserve districts which have released their December manufacturing surveys – all are in expansion. A complete summary follows. Analyst Opinion of Dallas Fed Manufacturing Survey This survey remains well into positive territory with new orders improving and unfilled orders declining. This was a stronger report than last month. Expectations from Bloomberg/Econoday…
The last time the yield on a 2-Year TSY auction was as high as it was today – 1.922% to be specific, tailing the When Issued 1.899% by 0.3bps – was just a few days after Lehman Brothers failed, with one difference: back then it was sliding, while now the rate on 2Y paper is…
Over the weekend, primarily because there was nothing else to talk about in the lead up to Christmas Day, the Western financial news media focused on Bitcoin and its apparent inability to recoup last week’s losses. Although the crypto standard-bearer did manage to stage a meaningful rally off the Friday crash lows below $11,000, some commentators…
This has been a banner year for the stock market, with the Dow Jones emerging as the biggest beneficiary of the rotation in leadership in the large-cap domestic space. The index climbed 25%, marking the best annual performance since 2013, and has moved up 5,000-points this year — the biggest annual gain in its history….
There were several developments on the day after Christmas, while many markets remained closed and investors sidelined. One of the most important developments was the euro’s complete recovery from the flash crash of nearly three percent on Christmas day in the North American time zone. Recall that the euro finished last week near $1.1860, having recovered…
There were several developments on the day after Christmas, while many markets remained closed and investors sidelined. One of the most important developments was the euro’s complete recovery from the flash crash of nearly three percent on Christmas day in the North American time zone. Recall that the euro finished last week near $1.1860, having recovered…
In last week’s Technical Update, I discussed the similarities between 1999, 2007 and currently. To wit: “With the markets within striking distance of Nasdaq 7000, Dow 25000 and S&P 2700, all three levels are all but guaranteed at this juncture. More interestingly, all three will be ticking off milestone gains at some of the fastest paces in market…
Bitcoin investors were in shock last week after the currency lost over 30% of its value, but the most popular virtual currency in the world is gaining steam again. The crypto-currency had surged over 10% from last week’s low when it dropped below the $12,000 mark. Tuesday morning it was trading at over $15,000 on the Bitstamp…
Electric vehicles are lighter and have fewer moving parts than conventional cars. The shift is not just about batteries. Electric vehicles are the wave of the future even if battery technology is not where it needs to be at present. While Elon Musk and the car makers have a spotlight on batteries, what about other…
