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Archives by Year:
EUR/USD – For Currency Bulls Or Bears?
Although the euro increased against the greenback yesterday, important resistances continue to keep gains in check. But will they withstand the buying pressure in the coming week? EUR/USD Although EUR/USD increased yesterday, the major resistances (the orange resistance zone, the neck line of the head and shoulders formation and the purple declining line) continue to […]
Comcast (CMCSA) Tops Q3 Earnings, Misses Revenues
Comcast Corp.(CMCSA – Free Report) is the largest cable MSO (multi service operator) in the U.S. and a leading media and entertainment company.Comcast provides basic video, digital video, high-speed broadband (Internet) and telephony services to individuals and business enterprises. In addition the company provides filmed entertainment, cable networks, broadcast TV services and operates theme parks. Comcast’s decision […]
Jobless Claims Still Below Pre-Hurricane Levels
Jobless claims rose by 10K this week but still managed to come in slightly below consensus expectations (233K vs 235K). Claims have now been below 300K for 138 straight weeks, which is the longest such streak since the early 1970s. If Hurricanes Harvey, Irma, and Maria weren’t able to push claims above 300K, it’s hard […]
America’s Stagflation
The accumulation of monetary policy errors by the Fed is increasingly certain to culminate in the credit crisis that always marks the end of the credit cycle. Credit crises are the result of globally coordinated monetary policies nowadays, so the timing of the forthcoming crunch is not only dependant on the Fed’s actions, but is […]
Pending Home Sales Unchanged In September
This morning the National Association of Realtors released the August data for their Pending Home Sales Index. Here is an excerpt from the latest press release: Lawrence Yun, NAR chief economist, says the quest to buy a home this fall continues to be a challenging endeavor for many home shoppers. “Demand exceeds supply in most […]
USD/JPY Outlook Mired Ahead Of US GDP Amid Failure To Test July-High
USD/JPY appears to be regaining its footing ahead of the 3Q U.S. Gross Domestic Product (GDP) report, with U.S. Treasury Yields highlighting a similar dynamic, but failure to test the July-high (114.50) raises the risk for a near-term correction as the exchange rate preserves the broad range from earlier this year. A marked slowdown in […]
Hershey Company (HSY) Q3 Earnings & Revenues Top Estimates
The Hershey Company’s (HSY – Free Report) earnings and revenues beat the Zacks Consensus Estimate in third-quarter 2017. Growth in its core brands, successful innovation and progress in multi-year productivity, and cost-saving initiatives helped the company post better numbers. Earnings & Revenue Discussion Hershey’s third-quarter adjusted earnings per share of $1.33 beat the Zacks Consensus Estimate of […]
Taylor Rule Could Spike Interest Rates Higher
President Trump is said to be considering tapping Stanford economist John Taylor as the next Fed Chairman. If Taylor gets the nod, it is possible that the Fed adopts the Taylor rule to set the Fed funds rates. The so-called Taylor rule is a formula that he proposed in 1993 for setting the federal funds rate — […]
What Could Go Wrong?
Yesterday’s missive took a glass-is-half-full stance by exploring the various tailwinds the bulls are counting on to keep stock prices movin’ on up. The list included earnings, economic growth, low inflation, ongoing QE, favorable seasonality, the flows into passive funds/ETFs, performance anxiety, performance chasing, the preponderance of dip-buying, and, of course, the tax trade. Good […]
Pending Home Sales Plunge In September To Lowest Since Jan 2015
Following September’s modest bounce in existing home sales, and explosion in new home sales (biggest jump in 25 years), today’s pending home sales was a huge disappointment, blowing the bounce back narrative. Pending Home Sales tumbled 5.4% YoY… To its lowest since Jan 2015… Take your pick – is the housing ‘recovery’ good, bad, or ugly… The […]
