Before the US market opened, Major European indexes were trading in the shallow red, and the EURO STOXX 50 would subsequently post a -0.23% loss. This morning’s jobless claims were a tad better than expected (more here). The S&P 500 opened fractionally higher and hit its 0.17% intraday high three minutes later. It then sold off…
The E-Mini S&P 500 September Futures contract opened inside of the previous regular trading hours (RTH) range and value today. The market rejected the POC, broke the previous low and got selling imbalanced for the rest of the day. Click on picture to enlarge To better understand this selling behavior let’s take a look at…
My weekly updates on Initial Unemployment Claims have been a broken record for many months. This week is nothing new. It was another record low. The headline, fictional, seasonally adjusted (SA) number of initial unemployment claims for last week came in at 270,000. The Wall Street economist crowd consensus guess was almost right on the mark this…
Bloomberg, the print news and not The View division, had an article this morning noting that the stiff decline in trading and volatility in gold shows a lack of interest in it. The fly in their ointment is that they consider the Comex to be ‘the gold market.’ I had a little fun with that with an intraday…
In an eerie repeat of what we witnessed in 2008, U.S. stocks are steadily sliding throughout the summer as we head toward the month of September. From August 1st, 2008 to September 1st, 2008 the Dow fell by nearly 700 points. And of course we all remember what happened the following month. Right now, we…
Zynga Inc (NASDAQ:ZNGA) released its second quarter earnings report after closing bell tonight, posting losses of 1 cent per share on revenue of $199.9 million, a 30% increase year over year. Analysts had been looking for losses of 2 cents per share and $156.84 million in revenue. In the same quarter last year, the game maker…
Seemed appropriate… With 121 S&P 500 members now trading more than 20% off their highs… No real catalysts today – aside from Hilsenrath talking back Powell’s dovishness, a terrible Challenger Jobs data point, moar crude carnage, and all the story stocks and media firms getting Baumgartner’d… Nasdaq was worst, Dow best but still a loser……
I’ve returned bottles of wine I’ve ordered at restaurants. Two or three times I’ve taken that initial sip and wanted to spit it out. That’s over some four decades. So it hasn’t happened often. I’ve never returned a bottle because the waiter brought me a different year from what I ordered. But that’s what my…
The market is expecting about 229,000 new jobs tomorrow in the July Non-Farm Payrolls report. A number below 200,000 will probably shake the Street up a bit, and get them thinking about the Fed holding off on raising rates, as the Bank of England’s Mark Carney today did, deferring to 2016 because of the weak…
Welcome to the August edition of This Week on Estimize – Economics. We are pleased to be joined by Joe Brusuelas, chief economist at McGladrey. In this episode, Leigh and Joe discuss the updated situation in Greece, why the “real economy” is doing much better than large caps would suggest, strength behind the services index…
