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Canada Trade, Plain And Simple
The Bank of Canada held its benchmark overnight rate steady at its last meeting in early September. Like the Federal Reserve, Canada’s central bank has been “tightening.” The policy lever had been lifted four times starting in July 2017. It is expected that when monetary officials meet in Ottawa tomorrow they will vote for a […]
Tesla Shares Could Rebound On Q3 Results, Bearish Barclays Analyst Says
Barclays analyst Brian Johnson, who has an Underweight rating on the shares with a $210 price target, says Tesla’s Q3 results could lead to a rebound in the stock. The analyst, however, expects a “drift down” in the shares on profit and cash worries until the earnings call. Johnson thinks Tesla can report stronger than […]
E It’s The Big One
The selloff started overnight in Australia and then spread to Hong Kong. It was just one day after China rolled out a bunch of stimulus measures which briefly boosted the stock exchange there. However, today the mood was skeptical, and HK’s share index lost over 4%, a stunning reversal.The rot then spread to other markets […]
Verizon Communications (VZ) Surpasses Q3 Earnings And Revenue Estimates
Verizon Communications (VZ) came out with quarterly earnings of $1.22 per share, beating the Zacks Consensus Estimate of $1.19 per share. This compares to earnings of $0.98 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 2.52%. A quarter ago, it was expected that […]
US Dollar Grinds At Resistance As Dow, S&P Re-Test The Lows
US DOLLAR TALKING POINTS: The US Dollar continues to hang near resistance at 96.04 after another earlier-morning test of this level, amounting to the fourth such instance already in October. This resistance comes from the 50% marker of the 2017-2018 bearish move in the currency, and this has proven a stubborn area for buyers. While this resistance […]
The Financial System Has Just Hit The Perfect Storm
The markets are now facing the perfect storm. China is entering a recession. Yes, I know the “official” data shows China is doing well, but the “official” data is political propaganda. Former Vice Premiere Li Keqianng admitted in private to the US ambassador in 2007 that every economic data point in China aside from bank […]
Further Defensive Action Initiated
The recent deterioration in the market has prompted defensive portfolio positioning. Near the close on Monday as it was appearing that the S&P 500 would have a second consecutive close below its 200 day moving average I placed a defensive trade for client portfolios. I’ve written countless posts about using the 200 DMA as a […]
Monthly Macro Monitor – October 2018
Stocks have stumbled into October with the S&P 500 down about 6% as I write this. The source of equity investors’ angst is always hard to pinpoint and this is no exception but this correction doesn’t seem to be due to concerns about economic growth. At least not directly. The most common explanation for the […]
McDonald’s (MCD) Q3 Earnings And Revenues Surpass Estimates
McDonald’s (MCD) came out with quarterly earnings of $2.10 per share, beating the Zacks Consensus Estimate of $1.98 per share. This compares to earnings of $1.76 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 6.06%. A quarter ago, it was expected that this […]
US Economic Growth Expected To Cool In Friday’s Q3 GDP Report
The government’s initial estimate of third-quarter GDP for the US is on track to decelerate to a 3.3% increase in the release due at the end of this week, based on the median for a set of nowcasts compiled by The Capital Spectator. That’s a solid gain, but the estimate marks a substantially softer pace […]
