I wrote in my last article about Demand Shock. Because so much money has moved toward the top, toward the wealthiest among us, the inequality of income is starting to heal the wealthy and make everyone else a little sick. Economic growth in this recovery has been painfully slow. QE has done more to raise…
Janet Yellen’s favorite labor market indicator the JOLTS survey showed record job openings and hires in June as the Wall Street Journal picked up on a theme that I pointed out months ago. The ratio of hires to job openings has been steadily falling. They attributed it to one of the causes I pointed out a year ago when…
Cisco Systems, Inc. (NASDAQ:CSCO) Systems is scheduled to release its next earnings report tomorrow after closing bell, and consensus estimates suggest the company will post earnings of 56 cents per share on $12.66 billion in revenue. Analysts aren’t really expecting much of a surprise are note that Cisco’s new CEO Chuck Robbins is still in the process…
Alibaba – for months incessantly discussed as the must own stock of the decade – just hit fresh all-time lows. Down over 5% in the pre-market after missing revenue estimates and seeing growth at the slowest in three years, it appears things are not soft-landing in China after all… But here is CNBC from Nov 2014 to explain…
Some folks had good news about gold over the past few weeks, and some had bad news. The good news is a treasure hunter working the waters off the Florida coastline with a metal detector found a million bucks worth of gold coins and chains from a 300-year-old wrecked Spanish galleon. Under U.S. salvage laws, he’ll keep…
CLICK ON CHART TO ENLARGE This chart looks at the S&P 500/Gold Bugs (HUI) ratio over the past 20-years. The ratio fell for almost 11-years (2000 to 2011), meaning it paid to be long gold miners and short the S&P 500 in a big way during this time frame. Over the past 4-years,…
The BLS Job Openings and Labor Turnover Survey (JOLTS) can be used as a predictor of future jobs growth, and the predictive elements show that the year-over-year unadjusted private non-farm job opening growth rate declined. This continues to suggest a slower employment growth rate, but still the employment growth rate predicted is about average for…
Dialing out from the short-term Sym-Tri micro management, this is where the story will be told. If SPX can bounce here and reverse the lower low to the late July low (and Sym-Tri break), the sideways dirge continues. If it makes and holds a lower low it is probably going to 1970 or so, which…
Yesterday when the yuan had weakened almost 2%, the slide in commodity prices was cited as evidence of the market’s concern that China was going to export deflation. This weighed on the dollar-bloc currencies, and the currencies of other commodity producers. Today the yuan has fallen further, oil prices are higher as are the dollar-bloc currencies…
Fat-Finger, Flash-Crash, or Forced Liquidation… either way, something broke in the Italian bond futures market… Fat finger? or forced liquidation? Charts: Bloomberg
