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Archives by Year:
Global Growth Is Gone… What Comes Next Won’t Be Pretty
The markets are getting downright ugly. While US stocks have performed relatively well recently, globally things are looking worse and worse. Germany’s DAX never reclaimed its former high established back in January. Instead it’s been carving out a massive Head and Shoulders pattern. Germany is the fourth largest economy in the world and heavily reliant […]
Emerging Markets Continue To Sell-Off
I had the privilege of being on the Bloomberg set with Tom Keene and Francine Lacqua earlier today. Lakshman Achuthan, co-founder of ECRI also joined us for the discussion. This 6.5 min video clip captures the essence of the discussion. The US dollar was rallying against all the major and most EM currencies. The second consecutive […]
Ford Truck Sales – No Slowdown Here
Ford (F) just released its monthly auto sales numbers for August, and the results came in better than expected at +4.1% versus expectations for a decline of 0.8%. As we do each month, our focus in this report is truck sales, and more specifically, F-series pickup trucks. Trucks are often purchased by small businesses and […]
Salesforce.com Soars As It Counts On AI
Salesforce.com (NYSE: CRM) delivered another stellar performance in the last quarter. But the company couldn’t deliver a promising outlook for the coming quarter. Despite that, the market is pleased with the company and its stock has soared to record high levels. Photo credit: Seesmic.com/Flickr.com. Salesforce’s Financials Salesforce’s second quarter revenues grew 27% over the year to […]
Transocean Announces Agreement To Acquire Ocean Rig For $2.7b Including Debt
Transocean (RIG) and Ocean Rig UDW Inc. (ORIG) announced that they have entered into a definitive merger agreement under which Transocean will acquire Ocean Rig in a cash and stock transaction valued at approximately $2.7B, inclusive of Ocean Rig’s net debt.The transaction consideration is comprised of 1.6128 newly issued shares of Transocean plus $12.75 in […]
Nike’s Kaepernick Ad Has Cost The Company Over $3 Billion So Far
Since announcing their new advertising campaign will be led by Colin Kaepernick, the social media backlash has dominated the virtue-signaling efforts we presume they hoped for. With images of Nike apparel and footwear being burned and real sacrifice being discussed, it appears investors are growing disillusioned as NFL fans as Nike shares are down 2.4% in the pre-market. Setting […]
Fundamentally Speaking: Q2-Earnings Review & Market Outlook
With the markets closed yesterday, there is little to update you on with respect to the technical backdrop from this weekend’s missive. However, this is a good opportunity to review the fundamentals as Q2-earnings season comes to a close. Not surprisingly, the cuts to corporate tax rates in December led to a surge in quarterly earnings numbers. […]
Weak ISM Manufacturing Survey To Curb EUR/USD Losses
Updates to the ISM Manufacturing survey may curb the recent selloff in EUR/USD as the index is expected to narrow to 57.6 from 58.1 in July. Another downtick in business sentiment may drag on the U.S. dollar as it dampens the outlook for growth and inflation, and a dismal development may cast doubts for four rate-hikes in 2018 as […]
Emerging Markets Suffer Fresh Blow As South Africa Falls Into First Recession Since 2009
Well, South Africa is in a recession. Q2 GDP fell an annualized 0.7% QoQ, missing estimates and confounding all but one economist surveyed by Bloomberg ahead of the report. The economy contracted by 2.6% in the first quarter. This is the first recession since 2009 and it marks a rather inauspicious start for Cyril Ramaphosa. (Bloomberg) […]
DAX (Germany) Creating Influential Topping Pattern?
This chart looks at the DAX index from Germany over the past 20-years. As mentioned above, even though this important index has traded sideways for the past 18-months, its long-term trend remains up. While the DAX has been trading sideways for the past year and a half, it could be creating a head & shoulders topping pattern […]
