(from my colleague Dr. Win Thin) EM assets are starting off the week on a softer footing. The China situation remains unsettled, with stocks on Monday posting their biggest one-day loss in eight years. More support measures seem likely if the rout continues.The calm in China equity markets from last week has been shattered, and is…
I told you so barely covers it on this one! China failed to provide the anticipated additional stimulus over the weekend or today and the Shanghai Composite quickly gave up half of the gains they made over the past two weeks of MASSIVE stimulus and rule changes that STILL have many stocks halted and…
Durable Goods new orders has now fallen 5 months in a row (after revisions) flashing a orangey/red recession warning. After 2 weak months, Durable Goods bounced more than expected in June (+3.4% vs +3.2% exp) – though non-seasonally-adjusted dropped 3.1% MoM. But ex-Transports remain deeply in recession territory. There was an unexpected drop…
Spirit Airlines (SAVE – Snapshot Report) reported second-quarter 2015 financial numbers wherein the bottom line exceeded the Zacks Consensus Estimate while the top line was on par with the same. In the reported quarter, GAAP earnings of $1.05 per share increased 18.3% year over year while adjusted earnings of $1.03 per share surpassed the Zacks Consensus Estimate of…
CLICK ON CHART TO ENLARGE It could pay to be “aware of these surroundings!” (1) – Nasdaq Composite Index is back at 2000 highs, with little wiggle room at the top of this rising wedge pattern (2) – Google shot up after earnings two weeks ago hitting a resistance line based upon its 2007 highs…
The EUR/USD pair initially fell on Friday, but found enough support near the 1.09 level in order to bounce significantly and form a nice-looking hammer. The hammer sits just below the 1.10 level, so it does look like we are pressing up against a significant resistance barrier. Ultimately, we think that if we can break…
Hot stocks of the day: TLT, GDX, AGG, BCS Video length: 00:05:31
The inside story at Allergan (AGN) is now firmly public, as the company’s plans to divest itself of certain product categories and acquire another firm were confirmed over the weekend. What was rumored has become fact This weekend Allergan publicaly confirmed that it will sell its generic-drug business to Teva Pharmaceuticals Inc. (TEVA) for $40.5…
By Kate George Youku Tudou Inc (ADR) (YOKU) shares slipped more than -6% in pre-market trading down to $18.77 after Chinese shares fell more than 8%. Since China is trying to stave off a market crash, last week the government instituted several measures to mitigate the effects of the crashing market. However, these efforts fell short and…
So why have Gold investors taken flight from Gold as it falls from grace? The sophistry that has fueled Gold is being exposed. The Gold Promoters spun their latest tale raising unrealistic high hopes for China as their savior that they were buying gold and would use it to back their currency so but now…
