Well, that escalated quickly. Just a week ago it appeared Washington had managed (for the time being at least) to convince the US’ closest allies to refrain from joining the Asian Infrastructure Investment Bank, a sinocentric institution aimed at promoting development across Asia that is meant to rival the US/Japanese-led ADB and begin a seismic…
The stage is set for website host and Internet domain registrar, GoDaddy, to raise as much as $418 million. On Thursday, it priced its planned IPO at $17 to $19 per share. This gives the company a valuation of $2.87 billion (At the high-end of the $17-$19 range). GoDaddy is set to offer 22 million…
Amazon.com, Inc. (NASDAQ:AMZN)’s “Prime Air” concept, which would use drones to deliver Amazon products, is taking back to the skies, and this time with FAA approval. Less than a year after the FAA dashed Amazon’s Prime Air program, aviation authorities are now allowing Amazon to go forward with testing. Last summer the FAA shot down Amazon’s drone…
Everyone loves a winner and that applies to stocks as well. While the popular finance theory “Random walk” states that the past movement of the price of a stock cannot be used to predict its future movement, history shows that recent past performance can be a pretty good predictor of short-term future performance. (Read: 3 Biotech…
The current bull market for U.S. stocks is the fourth longest in history. Two others journeyed into a seventh year, while one other (1990s) enjoys the distinction as having traveled into an eighth year. Even if one subscribes to the idea that “bull markets never die of old age,” probability alone suggests that we are…
Gold prices settled higher yesterday, extending gains from the previous session, on increasing views the pace of rate hikes is likely to be slower than previously expected. The U.S. central bank not only downgraded its economic growth and inflation projections at its latest meeting but also lowered its interest rate trajectory. Fed officials expect the…
Wow, look at the big rally in Copper (hourly)… Wow, look at the resistance coming up (monthly)… It’s all in how you want to cherry pick time frames. The monthly chart says it’s all just noise until Copper clears 3 bucks a lb.
I spent a few minutes with my friends at Fox 26 Houston yesterday discussing the FOMC’s recent two day meeting and why the Fed will not raise interest rates this year. As I wrote yesterday, the track record of the Fed’s economic forecasting has been abysmal as shown in the attendant chart of their projections…
Over the past week our core market health indicators bounced around a bit, but mostly improved. Our core measures of risk improved after a few weeks of falling closer to the zero line. One thing that is concerning in this category is a few of the indicators have been painting lower highs since July 2014….
After six years and two months of 0% interest rates with three rounds of quantitative easing (QE) in between, the Federal Reserve chose to finally remove the word “patient” from their official statement. Hawkish at last! Not so fast. I once heard that you should never underestimate the dovishness of Janet Yellen and she delivered on…
