The Chicago Fed National Activity Index’s three-month average (CFNAI-MA3) increased to -0.01 in June, reflecting US economic growth that’s effectively at the historical trend rate (i.e., a reading of zero). The rise marks the third consecutive month of modest improvement in economic output, according to this metric in today’s report from the Chicago Fed. The revised data…
The USD/MXN rose during the course of the session on Wednesday, breaking above the 16.11 level. This coincides nicely with a significant breakdown in the oil markets, as we found ourselves trading below $50 for the first time in ages. With this, it makes sense if the Mexican peso should continue to break down overall,…
General Motors Company (GM) released its second quarter earnings report before opening bell this morning, posting earnings of $1.29 per share, a remarkable 122% growth rate year over year, on $38.2 billion in revenue, a 3.5% year over year decline. Analysts had been expecting earnings of $1.08 per share on revenue of $40.62 billion. Shares of…
Perhaps the most interesting thing about China’s “unprecedented” plunge protection efforts – which, as we outlined on Wednesday, have succeeded in making China Securities Finance Corp. a top-10 shareholder in at least eight firms – is that in some ways, they aren’t “unprecedented” at all. That is, while some of what we’ve seen out of Beijing over…
Hot stocks of the day: GM, STM, LUV Video length: 00:04:15
Social media giant Facebook Inc (FB) is slated to announce second quarter 2015 earnings on Wednesday, July 29 after market close. The street expects the company to post earnings of $0.47 a share and $3.98 billion in revenue, up from $0.42 earnings per share and $2.91 billion in revenue the same quarter a year prior….
Fox Business asked Peter Schiff to explain why investors should continue to hold on to their gold, rather than sell it at a loss. Peter clarified that he has never recommended investing only in gold and not in stocks. Instead, owning gold is a way to protect yourself from fiat money and central bank policy….
The housing market continue to show signs of recovery after a soft first quarter. The latest hint: yesterday’s better-than-expected rise in existing home sales. Purchases advanced at the strongest pace in over eight years, reaching a new post-recession seasonally adjusted high of 5.49 million units in June. The update follows last week’s bullish news that new residential…
McDonald’s Corporation (MCD) is expected to report second-quarter earnings today before markets open. MCD has missed both Estimize and Wall Street consensus for the past 5 consecutive quarters as consumers and investors’ confidence shrinks. Estimize currently has 35 estimates for McDonalds, and is predicting an EPS figure of $1.25 compared to Wall Street’s $1.23 estimate, both…
Keryx Biopharmaceuticals (KERX) shares fell more than -5% in pre-market trading down to $9.06 after Boris Peaker at Cowen & Co. downgraded the company from Outperform to Market Perform. The analyst commented that Auryxia adoption will likely miss expectations. Auryxia is Keryx’s lead product used to treat patients with chronic kidney disease who are on dialysis. The analyst…
