A little over a third of companies have reported so far in the second quarter earnings season, and as of this moment the Q2 EPS and revenue declines are set for a -2.2% and 4.0% decline, respectively. To be sure, if one excludes energy companies re-crushed by the latest plunge in oil now that the…
■ Hang Seng regains negative sentiment, losing 1.1% during week ■ Positive Greece momentum loses steam in Europe ■ U.S. markets grab investor attention on earnings season ■ Negative China sentiment weighs down on commodity prices ■ Gold prices decrease to lowest since 2010 Dragged down by weak data, most financial assets proved a rather…
As I have noted for the last two weeks, this earnings season carries a special significance. It provides an alternative to the official data on the economy. After a bad week for stocks, the punditry will be asking: What is the message of the market? Prior Theme Recap In my last WTWA I predicted that attention to…
As investable assets go, gold seems to have lost its luster since 2012. The argument is as follows: Gold collects no interest and generates no utility. And with the self-proclaimed recovery of the global economies and stable fiscal policies (not my viewpoint), then gold doesn’t even have use in today’s modern portfolio. Why, then, should…
Commodities and their currencies continued to suffer this past week to complete what has been probably the worst week in a very long time. Oil lost another 1% leaving TWI at $47.95 whilst Brent lost 1.5% last seen at $54.45. Natural Gas is still unable to show any signs of recovery and it was last trading…
A little over a week ago in “Deutsche Bank Stunner: An Inside Look At Former CEO’s Role In Liborgate,” we presented lengthy passages from a report sent to the bank by BaFin, Germany’s financial “watchdog”. The document contains voluminous evidence which suggests that not only did Anshu Jain (who stepped down last month), know full…
The Fed created quite a stir by inadvertently posting documents on its website. The documents revealed some expected things, as well as a few startling (but not to Mish readers) projections. Please consider Fed Inadvertently Publishes Staff Forecast for 2015 Rate Hike. Staff economists at the Federal Reserve expect a quarter-point U.S. interest rate increase this…
A month ago, I wrote about the resilience of cocoa prices in the face of an avalanche of weaker agricultural prices. cocoa seems to be wavering in the facing of an intensifying sell-off in commodities.Given my opportunistic strategy for trading cocoa through the iPath Bloomberg Cocoa SubTR ETN (NIB), I laid out a price target for locking in profits…
The ever-evolving technology sector has been seeing a number of new trends over the past couple of years. Of these, the most promising is cloud computing. Research firm IDC expects that public IT cloud services spending will surge 124.4% from $56.6 billion in 2014 to over $127 billion in 2018, resulting in a stage of…
Back in February (see post) numerous equity investors refused to believe that any crude oil recovery will be unsustainable. Many viewed it as a buying opportunity – just as they did in 2011 when such “bottom fishing” strategy worked. “Look at the declines in oil rigs” many argued – US crude production is about to dive. Even…
