With Turkish capital markets in free fall, the Turkish lira crashing to record lows… … and one-year TRY swap spreads hitting 17%, the highest since the days just after Lehman’s failure and AIG’s bailout… … and chaos increasingly gripping the Turkish economy as the central bank is barred from doing the one thing that is…
The Wendy’s Company (WEN – Free Report) reported better-than-expected results in the first quarter of 2018. Adjusted earnings of 11 cents surpassed the Zacks Consensus Estimate of 10 cents by 10%. The bottom line also increased 37.5% year over year, primarily favored by the positive effect of lower tax rate related to share-based payments along with Tax Cuts…
The US dollar is broadly higher as the 10-year yield probes above 3.0%. Disappointing French industrial production and manufacturing data for March provided additional incentive, as if it were needed, to extend the euro’s losses. The euro dipped below $1.1825. The single currency is off a cent this week after falling nearly two last week. A…
Gold prices ended Tuesday’s session nearly unchanged after a volatile day that saw prices swing between gains and losses. XAU/USD initially edged lower to the $1308-$1306 zone before finding enough support to reverse its course. The market marched towards the technical resistance at $1320 after President Donald Trump said the U.S. was exiting the Iranian…
I try to stay away from making predictions. I don’t see the upside. If I am right, then yay! But after the fact, predictions often look obvious (hindsight bias) and it is hard to get much credit for them. By the same token, if I am wrong then the ex-post facto viewer shakes his head sadly at…
USD/CAD broke above 1.2917 resistance and extended its upside movement from 1.2526 to as high as 1.2997. Further rise is still possible after a minor consolidation and next target would be at 1.3050 area. Near-term support is at 1.2870, a breakdown below this level would suggest that the upside movement is complete, then deeper decline…
Boeing and Airbus are among the first casualties in Trump’s cancellation of the nuclear deal with Iran. The Seattle Times reports Boeing’s $9.5 Billion Iran Deals, Always Uncertain, are Now Effectively Dead. Following President Donald Trump’s scrapping of the Iran nuclear deal Tuesday and his imposition of what he called “powerful” sanctions, Boeing’s prospective sale to…
The Industrials Sector includes twenty-three industries all related to designing, fabricating and servicing stuff we want and use. The industrials industries range from aerospace and defense to waste management with all the transportation, business services, and equipment required in between. Today I’m reviewing a Large Cap British-based Aerospace & Defense Industrials firm operating as a…
Initial Claims made a new low for this economic expansion in April 2018. This is a medium-long term bullish sign for the stock market. Initial Claims leads the economy, which leads the stock market. Historically, economic recessions either led to bear markets in equities or “significant corrections”. The following chart shows how Initial Claims is…
After opening the day on a negative note, stock markets in India witnessed buying interest and went on to trade marginally higher. Sectoral indices are trading on a mixed note with stocks in the telecom sector and IT sector witnessing maximum buying interest. The BSE Sensex is trading up 51 points (up 0.2%) and the NSE Nifty is trading up 10 points (up 0.1%). The BSE…
