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Archives by Year:
ETFs Set To Benefit/Lose From Higher Brent Prices
Oil price rallied with global benchmark Brent breaching $82 per barrel, the highest since November 2014. The increase came after Saudi Arabia and Russia refused to increase production to offset falling Iranian oil exports in a meeting in Algiers on Sep 23. The United States is expected to re-impose sanctions on Iran starting Nov 4. […]
Fed Recap: Accommodative No More
As we noted in yesterday’s FOMC Preview report, another rate hike this month was a “done deal” for the Federal Reserve, and Powell and Company delivered the expected 25bps increase as expected. The more interesting aspects of today’s release came from the central bank’s accompanying monetary policy statement and the quarterly Summary of Economic Projections. The […]
GoPro Rises Following Analyst Upgrade On ‘Compelling’ Products
Shares of GoPro (GPRO) are rising after an analyst at Oppenheimer upgraded the stock to Outperform citing the company’s “compelling” products and what the firm calls appropriate pricing. ‘COMEPLLING’ PRODUCTS, APPROPRIATE PRICING: On Wednesday, Oppenheimer analyst Andrew Uerkwitz upgraded GoPro to Outperform from Perform with a $9 price target. The analyst told investors in a […]
Feeling TIPSy
The Federal Open Market Committee (FOMC) delivered on its highly anticipated rate hike at its September meeting. This now brings the top end of the target range for Fed Funds to 2.25%. After getting off to a rather slow start in this tightening cycle in December 2015, U.S. policy makers have picked up momentum, and through the third quarter of 2018, the Federal Reserve […]
Mexico Unemployment Improves Again
This morning, Mexican Unemployment for the month of August declined to a seasonally adjusted rate of 3.29% versus estimates for a reading of 3.33%. Coming off of July’s 3.35% and a June uptick to 3.4%, we have now seen a continual downtrend in unemployment over the course of the past several years. While this month’s reported […]
Fed Hikes 1/4 Point As Expected: Dot Plot Indicates One More 2018 Hike Coming
In its FOMC statement, the Fed says the economy continues to strengthen, unemployment is low, and spending is strong. The Fed hiked rates a quarter point to a range of 2.00% to 2.25%. Here is the FOMC Statement. Information received since the Federal Open Market Committee met in August indicates that the labor market has continued […]
USD Could Recover If Markets Understand What Removing “Accommodative” Means
The Fed raised rates and left the dot-plot unchanged. The removal of the “accommodative policy” wording hit the US Dollar. This is not necessarily dovish as it seems. The Federal Reserve raised interest rates as expected. They also maintained the dot-plot as is, thus indicating another increase in December, concluding 2018 with four hikes. The […]
Banks Underperform Despite Rising Rates
Banks Underperform The best two sectors were consumer discretionary and energy which increased 0.59% and 0.57%. The communication services index was up 9 basis points in its second day. Worst sectors were utilities and consumer staples which fell 1.22% and 0.73%. This action is related to heightened interest rates. It’s interesting to see that the […]
Teva For Two And Two For Teva
Here’s another short idea as we await Jerry Baby to try to b.s. the country some more… Teva Pharmaceuticals. It broke a trendline not long ago: So, just like just about everything else I’m short, I think it’s got a long, long way to go…
Global Institutional Investor Confidence Slumps
This is an interesting if obscure, indicator (at least not many people talk about it)… particularly so with the latest results. The indicator provides a view on institutional investor confidence based on actual buying and selling by State Street’s multi-trillion dollar global custodian business. If fund managers and asset owners are raising allocations to risky assets like […]
