Equities: Although performance was not robust, stocks bounced off their lows and finished at the upper end of their weekly trading range. Weekly percent changes: SP-500 (SPY) +0.39%; Nasdaq-100 +0.82%; and Russell-2000 (IWM) +0.82%. Volatility: The VIX exchange traded fund has now declined 5 out of the last 7 trading weeks. After several previous weeks…
Just three days ago in “Wall Street To Enter Hollow Guilty Plea On FX Rigging, Return To Business As Usual,” we lamented the fact that the Justice Department’s latest attempt to convince an incredulous public that the government is willing to prosecute white collar crime at TBTF institutions (which includes an amusing ‘crack down’ on UBS which…
Precious metals have been under pressure for a long time, but the three charts below indicate that silver might be breaking out. The last breakout attempt of the white precious metal was capped by the rally of the US dollar (starting August 2014). At this point in time however, it seems like nothing stands in silver’s…
by Stock Pucker It’s here, 13F day that is; in working up the suite of activist investor focused newsletters to go out in a few days, it’s hard not to get distracted by the various other 13Fs from value investors like Seth Klarman coming across the wire. If you want to get a look at last…
The economic news today was not good. The Fed’s Industrial Production index for April posted its fifth consecutive monthly decline. Michigan Consumer Sentiment took a dive, its biggest plunge since December 2012. The market was not particularly troubled. The S&P 500 opened higher, vacillated a bit and hit its -0.20% intraday low with the bad consumer sentiment…
The “in-coming” data turned into a blizzard of bad news today, but the Cool Aid dispensers at the New York Fed urged us not to fret—–it was all a temporary blip: New York Fed staff economists said in a new report growth should regain some of its swagger after stumbling during a chilly first quarter…… it believes first-quarter weakness…
Empire Manufacturing, Industrial Production, and even Michigan Consumer Sentiment came in weakly this morning. Stocks were trying to rally, but were just able to hold their ground into the weekend. I get the feeling we are in store for an interesting convergence of appearance and reality later this year. Have a pleasant weekend.
The Blackstone Group (NYSE:BX) is the Barchart Chart of the Day. The investment management firm has a Trend Spotter buy signal, a Weighted Alpha of 52.40+, gained 48.99% in the last year and paid an 8.36% dividend yield. The Chart of the Day belongs to the Blackstone Group . I found the stock by sorting the All Time High list for…
What goes up, must come down and while stocks have yet to factor in the Fed’s anti-gravity gun will end one day, bond yields roundtripped in the most dramatic way in 2 years this week. Quite a ride… A reminder (after 5 macro misses today)… And (h/t @ImpartialExamin) from “Money, Bank Credit, and Economic Cycles”… OK…
Lowe’s Companies, Inc. (LOW – Analyst Report) appears strong as it embraces the earnings season with favorable stock price movement, a strong earnings surprise history, positive estimate revisions and strong fundamentals. Shares of this Mooresville, NC-based home improvement retailer have surged roughly 62.6% in the past one year, demonstrating its inherent strength. Positive Earnings Surprise History The company’s…
