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Archives by Year:
US Existing Home Sales Slide To 5.52 Million
Sales of existing homes came out slightly below expectations, 5.52 million against 5.58 million predicted. This is a drop of 1.8%. House prices are rising. The median price is up 6.5% y/y and the average price is up 4.9%. The US dollar is marginally lower in the aftermath of the announcement. The general trend remains […]
Billion Dollar Unicorns: Sales AI Startup Afiniti Considering IPO
With leading tech giants like Alphabet, Apple, and Amazon focusing more on artificial intelligence (AI), the sector is attracting much funding. According to CB Insights, over 550 startups using AI as a core part of their products raised $5B in funding in 2016. Afiniti is one such startup that has become a Billion Dollar Unicorn. Afiniti’s Journey […]
The End Of A Long Streak For The Nasdaq
I’m not a big fan of streaks when it comes to stocks I mean it is nice while it lasts, but like any financial instrument that is rallying, eventually there needs to be a pullback and on Friday you got one with a whopping 0.04% pullback on the Nasdaq. How amazing, right? That is the stock market […]
A Bull Market Until Proven Otherwise
Good Monday morning and welcome back to the land of blinking screens. Global growth, the Trump/Russia situation, oil, the upcoming Fed meeting, and the greenback are in focus to start the week. On the growth front, the euro area Markit PMI fell to 55.8 in July, which is the weakest reading in six months. Next […]
Blue Chip Stocks In Focus: Toronto-Dominion Bank
‘Blue chip stocks’ received their name because, in the game of poker, the blue chips have historically had the highest value. Despite the association with poker, blue chip stocks are for those not looking to gamble on unproven businesses. In the stock market, blue chip stocks are valued for their low volatility, stable performance profile, and lower […]
Euro Moves Higher As Draghi Paves The Way For Stimulus Reduction
The euro currency moved to a new 2017 price high against the U.S. dollar, as European Central Bank (ECB) President Mario Draghi delivered an upbeat assessment of the Eurozone economy, following the central bank’s decision to leave monetary policy on hold at the July meeting of its governing council. For the time being the ECB’s […]
USD/JPY: Bearish, Retains Its Downside Pressure
USD/JPY: The pair continues to hold on to its downside pressure closing lower the past week. On the downside, support comes in at the 110.50 level where a break if seen will aim at the 110.00 level. A cut through here will turn focus to the 109.50 level and possibly lower towards the 109.00 level. […]
SocGen Asks: ‘Will Euro Strength Kill The Eurozone Profit Recovery?’
Ok, well one thing we’ve been pounding the table on for a week is the extent to which excessive (whatever “excessive” means in this context) euro strength will undercut the bull thesis for European stocks. This dynamic was on display on Friday and then again Monday morning, as a soaring single currency added to the […]
UBS Downgrades Goldman On Slump In Trading Revenues
The knives are out early this morning among the brokers, where UBS – hardly the embodiment of banking and sales and trading health these days – just downgraded Goldman Sachs to Neutral, cutting its price target from $250 to $235, on the recent disappointing results from the company’s FICC group. UBS said it believes the […]
