Stocks Rally Based On The End Of The Iran Deal? The S&P 500 was up 0.97% on Wednesday. It’s interesting because the headlines claimed the market rallied because Trump exited the Iran deal. That’s a weird reason for the market to rally as it means more geopolitical uncertainty. I’m not necessarily willing to sell stocks because…
The Bank of England dovish outlook is sending Sterling to a 4-month low. The US dollar remains the king currency as investors shrug-off softer US core inflation reading in April. The GBP/USD is trading at about 1.3470 down 0.56% on Thursday after the Bank of England kept the Bank rate unchanged in line with expectations, but sounded…
Top tickers for midday: BAC, AAPL, HMNY, JCP, FB, JPM.
Chaos has returned to Italy and, appropriately, it has once again started with the bad boy of Italian politics, Silvio Berlusconi, the same flamboyant playboy-cum-former prime minister who back in 2011 nearly withdrew Italy from the Eurozone and only a flagrant political intervention by the ECB prevented the collapse of the European experiment. As we reported…
Nvidia (NVDA) is expected to report earnings today after market close. The whisper number is $1.44, one cent short of the analysts’ estimates and showing no confidence from the WhisperNumber community. Whispers range from a low of $1.35 to a high of $1.52. A year ago the company reported earnings of $0.85, seventeen cents ahead…
Shares of Exelixis (EXEL) and partner Roche (RHHBY) are under pressure this morning after the companies announced that the Phase 3 IMblaze370 trial did not achieve statistical-significance on the primary efficacy endpoint evaluating the ability of a combination of a MEK inhibitor and anti-PD-L1 to improve overall survival in patients with microsatellite stable metastatic colorectal…
Ok, here comes CPI. This is the headline data point this week and it comes as 10Y yields are looking to move sustainably above 3% and as the dollar is looking to extend a rally that’s now in its fourth week. Last Friday, payrolls and AHE missed, but the dollar’s brief dip on the data was…
The CPI rose 0.2% in April vs the economists’ expectation of 0.3%. Year-over-year the CPI is up 2.5%. The BLS reports the Consumer Price Index for all items rose 0.2% in April with energy commodities, shelter, and food fueling most of the gain. Food The food index rose 0.3 percent in April after a 0.1-percent increase in…
The Canadian economy was seen rising 0.4% on the month in the month of February, data from Statistics Canada showed last week. The better than expected GDP growth signaled that the first quarter growth outperformed the BoC’s forecast for the same period. The GDP growth was seen to be better than the forecasts which estimated…
In one small 8:30 am speck of time today we had very low CPI and another blow out jobs number. Can anyone say Goldilocks? Goldilocks Market The late 1990s were coined Goldilocks, as in its storybook. After some macro headwinds, rate hikes, geopolitical mess, this morning’s economic numbers could mean Goldilocks. Perfect Economic Reports This Morning If you are…
