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E Canada’s Job Market Tanked In January, Though The Data Are Very Suspect

E Canada’s Job Market Tanked In January, Though The Data Are Very Suspect

Feb 28, 2018 Finance 0

Canada’s household labor force survey has tended to provide rather suspect data from time to time. The recent experience tends to echo this. For example, in November and December, the Canadian job market seemed to soar by 81,000 and 65,000 new employees, only to tank in January by 88,000 employees. As well, the unemployment rate […]
Chinese PMI Unexpectedly Slows To 19-Month Low In February

Chinese PMI Unexpectedly Slows To 19-Month Low In February

Feb 28, 2018 Finance 0

Manufacturing activity in the world’s second-largest economy slowed in February due to the Lunar New Year and implemented policies affecting business activities. The Manufacturing PMI stood at 50.3 in February, lower than the 51.3 obtained in January and 51.2 projected by economists, China’s National Bureau of Statistics reported.  The lowest in 19-month. A reading above […]
Gold Stocks Break Down Below 2017 And 2018 Lows!

Gold Stocks Break Down Below 2017 And 2018 Lows!

Feb 28, 2018 Finance 0

The HUI Index just closed below both 2017 and 2018 lows. The interpretations of many developments in the market are vague and subjective. But no major breakdowns. Gold miners just showed exceptional weakness by closing at new lows even though gold is still above $1,300 and the S&P corrected more than half of its recent […]
US Dollar Rallies As New Fed Chair Gives Hawkish First Testimony

US Dollar Rallies As New Fed Chair Gives Hawkish First Testimony

Feb 28, 2018 Finance 0

Economic Outlook Has Improved The US Dollar strengthened in late trading yesterday in reaction to comments made by new Fed chairman Powell during his first testimony. Perhaps the most market moving comments were those in reference to how the Fed’s economic outlook has developed since the December FOMC. Speaking during the testimony new Fed chairman Powell said […]
Q4 GDP Second Estimate: Real GDP At 2.5%

Q4 GDP Second Estimate: Real GDP At 2.5%

Feb 28, 2018 Finance 0

The Second Estimate for Q4 GDP, to one decimal, came in at 2.5% (2.54% to two decimal places), a decrease over 3.2% for the Q3 Third Estimate. Investing.com had a consensus of 3.0%. Here is the slightly abbreviated opening text from the Bureau of Economic Analysis news release: Real gross domestic product (GDP) increased at an annual […]
Lowe’s Q4 Earnings Miss, Sales Surpass Estimates

Lowe’s Q4 Earnings Miss, Sales Surpass Estimates

Feb 28, 2018 Finance 0

Lowe’s Companies, Inc. (LOW – Free Report), the home improvement retailer, came out with fourth-quarter fiscal 2017 results, wherein earnings of 74 cents a share missed the Zacks Consensus Estimate of 88 cents and decreased 14% year over year. Management now envisions fiscal 2018 earnings in the band of $5.40-$5.50 per share. The current Zacks Consensus Estimate for […]
US Dollar Bottoming Effort Takes A Step Forward

US Dollar Bottoming Effort Takes A Step Forward

Feb 28, 2018 Finance 0

The US Dollar (via DXY Index), sparked by new Fed Chair Jerome Powell’s testimony, has showed signs of finally emerging from a potential bottom. Price closed above two key trend levels yesterday: the downtrend from the December 18, January 11, and now February 21 highs; as well as the descending channel top off of the […]
Inflation Has Been Contained — But Not Because Of A Liquidity Trap

Inflation Has Been Contained — But Not Because Of A Liquidity Trap

Feb 28, 2018 Finance 0

Nobel laureate Paul Krugman took a victory lap on the pages of The New York Times  in front of all who warned of impending runaway inflation from the Fed’s massive monetary expansion. He did more than pronounce them wrong. He (a) labeled their analyses “unprofessional derp,” (b) identified himself as one of a few who “correctly […]
Fresh Distribution

Fresh Distribution

Feb 28, 2018 Finance 0

Yesterday saw sellers return with a fresh round of higher volume selling. However, the breakout moves which saw indices clear the congestion of spike highs from last week were not violated so Tuesday’s action will not as yet panicked existing longs or buyers of the February swing low to sell just yet. The only exception […]
When The Obvious Is Scary

When The Obvious Is Scary

Feb 28, 2018 Finance 0

Fed Chair Jerome Powell shook the markets by stating the obvious. Powel said that ”every participant in the FOMC submits a projection of what they feel is going to happen to the economy and also their projection for appropriate monetary policy. And at the December meeting, the median participant called for three rate increases in […]