The Advance Estimate for Q2 GDP, to one decimal, came in at 2.3 percent, a substantial increase from the 0.6 percent of Q1, which is an upward revision from -0.2 percent prior to today’s annual revisions. Today’s number came in a tad on the light side of most mainstream estimates. The WSJ survey of economists…
Wednesday proved to be a big day for social stocks; but not necessarily in a positive way. After Twitter (TWTR) and Yelp (YELP) reported earnings on Tuesday after the bell followed by Facebook’s (FB) earnings report Wednesday morning, we saw total carnage in the social media space. Unfortunately, investors simply couldn’t find the positivity they…
The ECB’s Economic Bulletin neatly summarizes some interesting trends in eurozone trade patterns. There are four main points. First, through the early 2000s, most of the trade was between EMU countries. Since then, however, trade outside of EMU has increased, and in Q1 of this year, extra-EMU trade accounted for more than 55%. This shift is over-determined. The ECB recognizes…
Time Warner Cable Inc. (TWC) shares dipped this morning after the company missed earnings estimates. The cable and internet service provider posted adjusted earnings of $1.54 per share, a 19% year over year decline, on revenue of $5.9 billion. Analysts had been expecting earnings of $1.80 per share and revenue of $5.94 billion. Time Warner…
Hot stocks of the day: BAC, FB, SPY Video length: 00:04:01
The much anticipated Q2 GDP number with prior revisions is out and, as expected, Atlanta Fed’s 2.4% estimate was once again nearly spot on, with the advance release coming in at 2.3%, below Wall Street’s consensus estimate of 2.5%. But more importantly, as part of the annual revision to prior GDP data, one which as…
The U.S. Dollar continued to gain positive momentum in the wake of the Federal Reserve’s latest policy decision. With expectations higher than ever that a rate increase in the imminent future is nearly a done deal, all that is needed is for today’s release of 2nd quarter growth figures and personal consumption expenditures to solidify…
T-Mobile and Nokia Corporation (NOK) released their latest earnings reports before opening bell this morning. T-Mobile smashed earnings estimates, coming in at 42 cents per share on $8.2 billion in revenue, a 14% year over year increase. Analysts had been looking for earnings of only 19 cents per share and $8 billion in revenue. In last…
The markets will be focusing on German and US employment numbers during the session, so we think most of the market movement will be in European stocks, specifically Germany, and of course the US. We believe that the US stock markets are trying to get their footing back after the selloff in China, so therefore we are looking for buying opportunities. We will keep our trades…
I don’t take too much of what goes on during FOMC week seriously with respect to making actionable moves. While in market management I try very hard to keep whatever paranoia lurks in my brain locked in a closet in one of the rear lobes I have noted that usually, no matter what non event…
