Ahead of Thursday’s opening bell this morning, the third and final read on 3rd quarter 2017 Gross Domestic Product (GDP) was released. The good news: we keep the 3-handle for back-to-back quarters for the first time in a couple years. The bad news (and it’s not that bad): the 3.2% tally is a tenth less…
Shares of PG&E (PCG) are sliding after the company suspended its quarterly dividend, citing uncertainty related to recent Northern California wildfires. Following the announcement, RBC Capital analyst Shelby Tucker downgraded the stock to Sector Perform as he believes the company’s “unexpected” decision suggests greater risk that previously assumed regarding the regulatory treatment of the wildfires….
Presented without comment (prices as at 12:40 pm ET December 21)…
CarMax Inc. (KMX – Free Report) posted earnings per share of 81 cents in the third quarter of fiscal 2018 (ended Nov 30, 2017), reflecting an increase of 12.5% from 72 cents earned a year ago. Earnings missed the Zacks Consensus Estimate of 82 cents as well. Net sales and operating revenues in the reported quarter increased 11%…
Will Wilkinson, the vice president for policy at the Niskanen Center, does not like the tax bill just passed by Congress. Writing in The New York Times, he finds the legislation “notably generous to corporations, high earners, inheritors of large estates and the owners of private jets.” Wilkinson has discovered a surprising source for the legislation…
As China continues down the path of capital market liberalization, many investors are confronted with a dizzying array of options: H-shares, B-shares, A-shares, P chips. Shares listed in Hong Kong, Shanghai, Shenzhen, Singapore and New York. While the economic rationale for investing in China may be straightforward, the means by which investors should be gaining access is not. In…
The tax bill will boost the economy. The biggest impact will be the gradual improvement in economic growth year after year. A small increment added to our recent growth rates would be inconsequential in any one year, but the increments will cumulate and even compound. Twenty years from now, the difference will be significant. WASHINGTON,…
The Department of Energy’s Energy Information Administration (EIA) monthly data on volume sales is several weeks old when it released. The latest numbers, through mid-October, are now available. However, despite the lag, this report offers an interesting perspective on fascinating aspects of the US economy. Gasoline prices and increases in fuel efficiency are important factors, but there…
USD/CAD faces a greater risk of giving back the advance from the December-low (1.2624) as it carves a fresh series of lower highs & lows. The 2.1% reading for the Consumer Price Index (CPI) accompanied by the 0.8% expansion in Retail Sales may continue to boost the appeal of the Canadian dollar as it encourage the Bank…
With just a few days left in the year, it looks like the S&P 500 Index will deliver a gain of 20% or more for 2017. Investors should be happy about that. But, instead, many will worry. They worry the gains won’t last and 2018 will deliver a loss. Data says those worries are misplaced. After a…
