As commodities carnage and credit cracks, talking heads remain intentionally ignorant in there sheep-like mantra to buy and hold stocks no matter what. Ever hopeful that ‘growth’ and the ‘future’ will fix any and all over-valuations, even with the current record low number of stocks trading ‘cheap’, they continues to ignore the facts. As Professor Bruce…
The yen has been sidelined this week. It is flat against the dollar. Japanese stocks and bonds are also little changed. The benchmark 10-year bond yield has fallen by less than two bp on the week, the least among the major bond markets. The Nikkei is off 0.3% on the week, which is the second…
Shares of Capital One Financial Corporation (COF – Analyst Report) fell nearly 5% in the after-market trading session following the second-quarter 2015 earnings miss. The company reported adjusted earnings from continuing operations of $1.78 per share, which lagged the Zacks Consensus Estimate of $1.97. Moreover, earnings came in below the prior-year quarter figure of $2.04 per share. Capital One…
Today’s release of the publicly available data from ECRI (Economic Cycle Research Institute) puts its Weekly Leading Index (WLI) at 133.4, up from 132.4 the previous week. The WLI annualized growth indicator (WLIg) is at 0.3, down from the previous week’s 0.4, and off its interim low of -4.7 in mid-January. “Recoveries Remain Resilient” ECRI currently features…
Written by John Lounsbury and Steven Hansen The headlines say new home sales declined from last month. The rolling averages smooth out much of the uneven data produced in this series – and this month there was an improvement in the rolling averages.The data was revised downward in the previous months making the bad headlines even worse than…
Spontaneous Order Somewhere in British Columbia – “Do Not Hump” says the sign on the side of the boxcar. We had no idea why the Canadian Pacific Railway is putting its nose into our private lives. But the authorities are always trying to tell us what to do. As you know, we’re making our way…
Biotech company, Biogen (BIIB – Analyst Report), reported second quarter 2015 earnings per share of $4.22 per share, well above the Zacks Consensus Estimate of $4.07 and 20.9% above the year-ago earnings. Biogen Idec Inc. – Earnings Surprise | FindTheBest The company, however, missed on revenues with second quarter 2015 SALes of $2.591 billion falling short of the Zacks…
Is it just me? Last week while on vacation, the markets surged back to all-time highs as the Greek and China problems were solved. Unfortunately, as I left white, sandy beaches and clear ocean waters behind me to return to reality – so did the markets. Either it is purely coincidental or I should head back…
Next week’s “advance” GDP report (due on July 30) for the second quarter is projected to show that the US economy increased 1.9% (seasonally adjusted annual rate), based on The Capital Spectator’s average estimate for several econometric-based forecasts. Today’s updated average forecast, which is slightly above last month’s Q2 estimate, marks a rebound after Q1’s 0.2% decline. Some analysts…
