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Archives by Year:
Fed Turns More Hawkish In September. Is The Gold Case Lost?
Powell and Co. hiked again. And the FOMC removed the important phrase about “accommodative” stance. What now for gold? Yesterday, the FOMC published the monetary policy statement from its latest meeting that took place on September 25-26. In line with the expectations, the US central bank raised the federal funds rate by 25 basis points to the target range of […]
Dollar Could Strengthen Amid Firmer December Hike
As no central bank can match the pace of Fed’s hiking, short EUR/USD? Overnight FOMC meeting shows that December hike is a lock, while those in 2019 remain wild cards. The Fed raised interest rates for a third time this year, and its forecast shows a strong consensus for a fourth hike in December, locking in a […]
Mideast, US Still Lead Regional Equity Markets Returns This Year
Stock markets in the Middle East and Gulf are holding on to a small performance edge over the US equity market so far in 2018, based on a set of exchange-traded funds. The neck-and-neck horse race between the two regions reflects diverging trends in recent months. The formerly high-flying performance WisdomTree Middle East Dividend (GULF) […]
E Markets: Neutral
The stick-shift is likely not far from the 8-track tape. Dinosaurs in the history of technology wrapped around transportation and entertainment, but they remain part of the history and culture. Describing neutral was much more straightforward when you had a clutch. Perhaps that is the lesson for the Fed Chair Powell as the removal of the […]
JPMorgan Sees 23% Upside In Apple Shares, Starts With Overweight Rating
JPMorgan analyst Samik Chatterjee initiated coverage of Apple (AAPL) with an Overweight rating and $272 price target. The shares closed yesterday down $1.77, or 1%, to $220.42. The analyst’s price target implies 23% upside from current levels. While Apple’s leadership position in the premium smartphone market is well understood by investors, its “faster-than-expected” transformation to […]
Morning Call For Thursday, Sept. 27
Overnight Markets And News Dec E-mini S&Ps (ESZ18 +0.09%) this morning are up +0.10% on strength in technology and energy stocks. Energy stocks rose as Nov WTI crude oil (CLX18 +0.94%) climbed +1.09% on supply concerns after U.S. Energy Secretary Perry said he government isn’t planning to tap emergency oil supplies when American sanctions on Iranian crude […]
Fed Hikes, Stocks Fall, Just Correction?
The U.S. stock market indexes lost 0.2-0.4% on Wednesday, as investors reacted to the FOMC’s Interest Rate hike announcement. The S&P 500 index has reached the new record high of 2,940.91 on Friday. It currently trades 1.1% below that high. The Dow Jones Industrial Average lost 0.4% and the technology Nasdaq Composite lost 0.2% yesterday. The nearest important […]
Oil Drops After Saudis Say Ready To Pump Additional 550K Barrels
One week after President Trump tweeted his latest demand for OPEC to cut oil prices (presumably by boosting production), Saudi Arabia is reportedly considering doing just that. We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil […]
Italian Assets Crushed As Populists Upend Budget Talks At Last Minute
Predictably, the fraught Italian budget negotiations went off the rails at the last minute on Thursday, casting further doubt on the country’s fiscal trajectory and underscoring deep fissures between Finance Minister Giovanni Tria and the country’s firebrand deputy Prime Ministers. Matteo Salvini was characteristically defiant ahead of today’s deadline. “We’ll do a courageous budget, the deficit […]
Greenback Firms
Overview: The US dollar is firmer against all the major currencies and most emerging market currencies, extending the recovery seen after the Federal Reserve’s rate hike. Despite the poor finish for US equities yesterday and declines in Japanese and Chinese shares today, the MSCI Asia Pacific Index eked out a small gain. European bourses were on the […]
