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Archives by Year:
Gold: Tumbles Lower, Extends Weakness
Gold retains its downside short term as it sold-off on Thursday leaving the risk of more upside pressure. On the downside, support comes in at the 1,300.00 level where a break will turn attention to the 1,290.00 level. Further down, a cut through here will open the door for a move lower towards the 1,280.00 […]
Dick’s Sporting Goods Yesterday Banned Sale Of Assault-Style Rifles
Dick’s Sporting Goods (DKS), one of America’s largest sports retailers, yesterday has announced that it will no longer sell military-style semi-automatic rifles and that customers buy firearms from its stores will have to be older than 21. Additionally, the company is immediately ending its sales of high-capacity magazines, and backing “common sense gun reform”. The […]
January 2018 Headline Construction Spending Growth Unchanged?
The headlines say construction was unchanged and within expectations. Our view is that this does not consider inflation, or the fact that the previous month’s data was revised upward. Analyst Opinion of Construction Spending There continues to be significant backward revision to the date – this month was downward. The rolling averages declined. Also note […]
USD, JPY Strength Comes Roaring Back: Euro, Pound Vulnerable
USD STRENGTH CONTINUES AS DOLLAR REMAINS BID The US Dollar continues to catch bids and this strength is showing against most major currencies. The one notable exception, however, is the Japanese Yen as prices there remain in a relatively range-bound format. This can be somewhat vexxing for some market participants, particularly given the general penchant […]
February 2018 And YTD Asset Class Performance
Below is a look at our asset class performance matrix showing the total return of a number of key ETFs across equities, fixed income, commodities, and currencies. For each ETF, we show its total return over the last week, in February, and year-to-date. Major US index ETFs all fell in February, with the Dow (DIA) […]
Best Buy (BBY) Rallies On Q4 Earnings Beat, Guides For FY19
Best Buy Company, Inc. BBY returned to positive earnings trend in fourth-quarter fiscal 2018 after reporting a miss in the preceding quarter. With this, the company has delivered a positive earnings surprise in 20 of 21 quarters. Moreover, the company surpassed sales estimates in the fourth quarter, which marked its third beat of the last four quarters. […]
Markit Manufacturing PMI: “PMI Close To Three-Year Peak”
The February US Manufacturing Purchasing Managers’ Index conducted by Markit came in at 55.3, down from the 55.5 final January figure. Today’s headline number was below the Investing.com forecast of 55.9. Markit’s Manufacturing PMI is a diffusion index: A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Here is an excerpt from Chris […]
Global Growth Narrative Stumbles As Nomura Warns “Best May Now Be Behind Us”
The ongoing demise of the “synchronised global growth” narrative – which started showing up in macroeconomic data disappointments world-wide over a month ago – is beginning to become evident in capital markets as Nomura’s Charlie McElligott points out that risk-asset weakness (and fixed income strength) hints at a growth peak and investor narratives shifting to a developing-acknowledgement that […]
What Other Vault Like Opportunities Is Veeva Pursuing?
According to a recent report, the Global Healthcare Cloud Computing market is estimated to grow to $15.8 billion by the year 2025 from $4.5 billion in 2016. Pleasanton, California-based Veeva (NYSE: VEEV), a leading player in the industry, recently announced stellar quarterly results. Veeva’s Financials Veeva was initially founded as a cloud-based customer relationship management and regulated […]
Where Next For Gold After Such A Bright Start?
The MT5 daily gold chart continues to look increasingly weak, and even more so after yesterday’s price action which has followed through in early trading today, with the precious metal now looking set to test the key $1300 per ounce price point. For gold bugs, the start of the year promised much with gold rising […]
