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Archives by Year:
ADP’s Upbeat Payrolls Data Suggests Labor Market Is Stabilizing
ADP’s stronger-than-expected gain in US private employment for August hints at the possibility that the downshift in the labor market’s annual growth rate over the past two years is steadying. If so, we may see some corroboration in tomorrow’s update on payrolls from the Labor Dept. Meantime, the ADP Employment Report for this month is certainly encouraging. […]
Euro Tumbles, Bunds Spike On Report ECB “Growing Worried” About Strong Currency
It’s time to start worrying about currency wars again. Moments ago, with the EURUSD trading just shy of 1.19 and having risen above the “red line in the sand for corporate profits” 1.20 mark earlier in the week, the ECB again used its favorite trial balloon news service, Reuters, to suggest that not only is […]
Wells Fargo Upgrades Owens Corning After Harvey, Management Meetings
Wells Fargo analyst Stephen East last night upgraded Owens Corning (OC) to Outperform from Market Perform with an $83 price target. The glass fiber maker closed yesterday up $1.57 to $71.76. The analyst sees an “inexpensive valuation” versus peers and has increased comfort in Owens’ ability to achieve or surpass this year’s targets while generating […]
3 Best Value Bets Amid Catastrophe Loss Fear Among Insurers
The insurance industry fears high claims due to occurrence of Hurricane Harvey last Friday. Per Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc (AON – Free Report), the industry already digested $53 billion in catastrophe losses in the first half of 2017, which registered the highest figure since 2011. Harvey hit Houston and […]
Chinese Data Buoys Markets
Asian indexes were mixed in early Thursday trade after Chinese manufacturing and services PMIs showed positive signs. China’s official manufacturing PMI rose to 51.7 in August, surpassing the forecast for 51.3, while the country’s official services PMI dropped to 53.4 this month, compared with 54.5 in July. Japan’s Nikkei 225 index was up 0.80 percent […]
Euro-Zone Inflation Beats With 1.5% – EUR/USD Ticks Up
The stronger exchange rate of the euro is not curbing inflation, at least not yet. CPI is up 1.5% y/y, higher than 1.4% expected and 1.3% seen last time. Core inflation remained at 1.2% as expected. The unemployment rate stayed at 9.1% as expected. EUR/USD is topping 1.19, recapturing the levels it lost. The highs […]
Loonie Could Maintain Gains Against The US Dollar
In May, Canada’s GDP report showed that the economy expanded 0.6% on a month over month basis. This marked a seventh consecutive month of increase in economic activity. On a year over year basis, Canada’s GDP expanded 2.6% during the first quarter of 2017. This was also the fourth consecutive quarterly expansion in the GDP. […]
Sensex Trades On A Volatile Note
After opening the day flat, share markets in India witnessed volatile trading activity and are currently trading in marginally above the dotted line. Sectoral indices are trading on a mixed note with stocks in the power sector and stocks in the energy sector trading in green, while stocks in the telecom sector and stocks in the IT sector are leading the losses. The BSE Sensex is trading […]
Gold Falls On Strong U.S. Economic Data
Gold prices ended Wednesday’s session down $1.12 as the dollar moved higher on the back of better-than-expected economic data. The Commerce Department Commerce said that gross domestic product expanded at an annual rate of 3.0% in the second quarter and Automatic Data Processing Inc. reported that the private sector added 173K jobs in May, broadly […]
5 Reasons Why Bitcoin Has Staying Power
President James Garfield once said… “He who controls the money supply of a nation controls the nation.” Who then, Mr. Garfield, controls the money supply of Bitcoin? Because if such a person existed — an invisible hand that controls everything — then that person would have the entire world in a stranglehold. Fortunately, there is […]
