Finance
Italy Coming Closer & Closer To Leaving EU
In Italy, there are again serious protests against austerity measures. A major general strike has paralyzed Italy as public life style has simply collapsed. Nationally, 54 demonstrations were held around the country.Citizens are protesting against the austerity measures and labor market reforms the government has been compelled to implement because of Brussels.The German Chancellor…
Yet Another New Phase For The New Normal
The Treasury market’s implied inflation forecast continues to fade, dipping to 1.70% yesterday (Dec. 11) — close to a four-year low, based on the yield spread for the nominal 10-year Note less its inflation-indexed counterpart. The slide looks worrisome, but appearances can be deceptive at a time when US economic growth is holding steady if…
Morning Call For December 12, 2014
OVERNIGHT MARKETS AND NEWS March E-mini S&Ps (ESH15 -0.40%) this morning are down -0.53% at a 1-month low and European stocks are down -1.34% at a 3-week low as a drop in crude oil to a 5-1/3 year low undercuts energy producers. Chinese economic concerns also weighed on stocks after Nov China industrial output grew less than expected. The plunge…
Stock Market Not Even Close To Topping Out –Hulbert
Mark Hulbert’s HNNSI (data compiled from Nasdaq oriented market timers) shows that sentiment among these timers was not indicative of a top as it had been fading the rally into the recent interim top. HNNSI from MarketWatch From Hulbert: Contrast the HNNSI’s recent behavior with what happened as the 2000-2002 bear market was beginning — at the top…
Crude Drops, Yields Slump, Futures Tumble
“A global flight-to-safety continues to dominate the landscape as lower oil prices drives the bid for core fixed income markets” – ED&F Man Anyone who was hoping the market would rebound on last-minute news that the US government has gotten funding for another 9 months, will be disappointed this morning, when futures are…
Late Selling Puts Pressure On Friday
Thursday saw another attempt by bulls to make up the losses of the previous day, but bears didn’t wait until the next day to attack. Instead, an afternoon assault pushed markets back towards their lows, setting up a situation for further losses today (Friday). Volume was light, and there is plenty of support nearby to…
Bear Of The Day: Conn’s (CONN)
When the economy is humming along, extending consumers credit can help keep the wheels oiled up and running. Lending eases up across the economy from mortgages for homes to auto loans to consumer credit. Today’s Bear of the Day is a company that had been readily extending consumers credit to buy their products. The problem…
Weakest Demand For Crude In 12 Years
OPEC cut the forecast for how much crude oil it will need to provide in 2015 to the lowest in 12 years amid surging U.S. shale supplies and reduced estimates for global consumption. The Organization of Petroleum Exporting Countries lowered its projection for 2015 by about 300,000 barrels a day, to 28.9 million a day….
Dollar Consolidates As Oil Slide Continues
The US dollar is trading within yesterday’s ranges against the major currencies. The Canadian dollar is the main exception. It is pushing lower still, with the greenback pushing a little beyond CAD1.1550. The main development today is the continued drop in oil prices. The latest cause has been the cuts in demand forecast by OPEC and IEA. Generally softer…