China has zombie malls and even zombie cities, so zombie factories can hardly be a surprise. And as the malinvestments pile up, so do unrealized shadow bank losses. The Financial Times reports China Zombie Factories Kept Open to Give Illusion of Prosperity. In the shadow of a group of enormous smokestacks and abandoned foundries, a peeling…
CLICK ON CHART TO ENLARGE Does it pay to own the S&P 500 the last week of the year? Since 1950, the week with the highest percentage of times of moving higher, is this week (last full week of the year). 71% of the time over the past 60-years, the S&P 500 has moved higher this…
Ryanair Holdings (RYAAY – Snapshot Report) is the king of low cost airlines in Europe. These are the best of times for airlines as fuel costs plummet. This Zacks Rank #1 (Strong Buy) is expected to grow earnings by the double digits in both fiscal 2015 and 2016. Ryanair is a low cost airlines that operates 1,600 daily…
OVERNIGHT MARKETS AND NEWS March E-mini S&Ps (ESH15 -0.18%) this morning are down -0.14% and European stocks are down -0.83% after Greek Prime Minister Samaras failed in a third and final attempt to get his presidential candidate, Stavros Dimas confirmed, which will trigger early elections in late Jan or early Feb. Greece’s stock market plunged over 7% to a 2-year…
Up until the Greek presidential vote made headline news, the biggest event of the day was not the full-blown bubble levitation in the Shanghai Composite which rose another 0.33% to a fresh 4 year high of 3,168 on expectations the recent PBOC targeted intervention will transform into a full blown rate cut, but the sudden drop in…
Asian stocks tip-toed higher on Monday, following fresh gains on Wall Street, while the euro wallowed near 28-month lows versus the dollar on nervousness ahead of a vote in the Greek parliament that could result in snap elections. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent. Tokyo’s Nikkei climbed 0.4 percent and…
According to reports, one of the first acts of the Republican congress will be to fire Doug Elmendorf, current director of the non-partisan Congressional Budget Office, because he won’t use “dynamic scoring” for his economic projections. Dynamic scoring is the magical-mystery math Republicans have been pushing since they came up with supply-side “trickle-down” economics. It’s based on…
All Ords Index Strong gains over the past six trading sessions sees it coming in close proximity to resistance. The buying has been on low relative volume so the rally may pause at 5520 points before market direction is re-established. All Ords index Qantas (QAN) Breaking out from the bullish pennant. Qantas (QAN) Ramsay Health…
by Kent Moors Oil prices are struggling to stabilize in the wake of what some are calling a “black swan” event. It refers to a theory popularized by Nassim Nicholas Taleb, a well-known risk analyst and statistician. A black swan is an outlier, a development that fails to follow any normal pattern. According to Taleb,…
