Goldman may have been right that there will be no more multiple expansion in 2015, but there sure was quite a bit overnight thanks to the latest verbal and actual central bank interventions by the ECB and the PBOC. And as a result, the biggest beneficiary is the S&P500, which is set to open just around…
Shares of The Gap, Inc. (GPS – Analyst Report) dropped 3.7% in the after market trading session yesterday, as the company’s third-quarter fiscal 2014 adjusted earnings of 74 cents a share missed the Zacks Consensus Estimate of 79 cents. However, earnings improved 2.7% on a year-over-year basis. Including a 6 cents per share gain from a non-recurring tax benefit…
In the horse race among the major asset classes, there’s not much competition for first place at the moment. US REITs remain in the lead for the trailing one-year period (250 trading days), and by a wide margin, based on our standard list of ETF proxies for the key slices of global markets. In other words, US…
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Draghi Speaks the Truth; ECB Will ‘Do What it Must’ Words are important. This is not just a headline, it is a reality… Draghi says ECB will ‘do what it must’ on asset buying to lift inflation Not ‘do what it thinks would be the best course for the European economy’, not ‘choose the path of least…
The ASA temp staffing index hit 105.1 last week just short of an alltime high of 105.2. Typically this index peaks the first or second week into December which means we are all but assured of hitting all time records in a few weeks. Both these indexes coinciding like this bodes very well for continued…
The Department of Transportation’s Federal Highway Commission has released the latest report on Traffic Volume Trends, data through September. Travel on all roads and streets changed by 2.3% (5.6 billion vehicle miles) for September 2014 as compared with September 2013 (see report). The less volatile 12-month moving average is up 0.19% month-over-month. If we factor in population growth,…
Fourth quarter revenues of $290.0 million, up 4.1% compared to prior year, or up 4.0% constant currency*. Fiscal 2014 increased 6.3%, or 3.9% constant currency*. Fourth quarter diluted earnings per share of $0.76 on a GAAP reported basis compared to $0.65 in the prior year. Fourth quarter non-GAAP adjusted EPS* of $0.93, up 14.3% compared to…
OVERNIGHT MARKETS AND NEWS December E-mini S&Ps (ESZ14 +0.69%) this morning are up +0.65% at a record high and European stocks are up +2.03% at a 1-1/2 month high after China cut interest rates for the first time in over 2 years. European stocks and government bonds received an additional boost after ECB President Draghi…
More free money!!! Europe is up 2% with no signs of slowing at lunch as Mario Draghi kicks it up a notch, saying the ECB is ready to “step up the pressure ” and expand its asset-purchase programs if inflation fails to show signs of quickly returning to the ECB’s target. BAM!!! “We will continue to meet our…
