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Stock Market Likelihood Is Lower For Longer
The average time from a yield curve inversion (long-interest rates below short) to the onset of recession has been ten months historically, ranging from 11 to 22 months. October marks the eighteenth month of curve inversion this cycle. Moreover, since June, the yield spread has been flattening out. As we start this trading week, the […]
German Inflation Drops In October
Image Source: Pixabay German headline inflation continues to drop. According to the just released flash estimate, October headline inflation came in at 3.8% year-on-year, from 4.5% YoY in September. The harmonised European inflation measure for Germany plunged to 3.0% YoY from 4.3% in September. This discrepancy between the national and the European measures can mainly be […]
The Canadian Cannabis Report – Monday, Oct. 30
For the trading week that ended October 27, 2023, my proprietary Canadian Cannabis Company Index (MCCCI) increased by 1.7% compared to the prior week when it decreased by 11.0%. The index consists of 15 stocks, many of which are among the most widely held holdings of the 3 ETFs (MJ, CNBS, and THCX) that I […]
Onsemi Plunges As Weak Guidance Overshadows Q3 Earnings
Image Source: Unsplash Shares of Onsemi (Nasdaq: ON) fell more than 18% at the opening bell on Monday after the chipmaker issued a downbeat outlook for Q4 2023. Even though the company posted positive Q3 results, investors jumped ship on the poor guidance, taking the broader market index to fresh lows. Onsemi’s Q3 EPS and Revenue Beat Estimates […]
S&P 500 Earnings Dashboard 23Q3 – Monday, Oct. 30
Image Source: Pexels S&P 500 Aggregate Estimates and Revisions The 23Q3 Y/Y blended earnings growth estimate is 4.3%. If the energy sector is excluded, the growth rate for the index is 9.7%. Of the 251 companies in the S&P 500 that have reported earnings to date for 23Q3, 77.7% reported above analyst expectations. This compares to a long-term average of 66%. The 23Q3 Y/Y blended revenue growth estimate is 1.4%. If the […]
Can Gold Make Monthly And Weekly All Time Highs?
Image Source: Pixabay Gold faces monthly resistance at $2000 and $2010 and weekly resistance at $2025 to $2030. As we recorded, Gold was trading around $2013 with two days left in the month.Video Length: 00:07:37More By This Author:Gold Move Just Getting StartedKey Levels In Gold Into November Balancing Technical & Intermarket Analysis With Macro Drivers
Dow Up Over 340 Points As Stocks Snap Back
The Dow Jones Industrial Average (DJI) is building on this morning’s gains, up 343 points at last look, while the S&P 500 (SPX) and Nasdaq Composite (IXIC) sit firmly in the black as well. The DJI and SPX are on track to snap their three-day losing streaks, coming off a rough week that saw the latter […]
Some Things That Bother Me About The Stock Market
Friday was an odd day. The Dow Industrials, S&P 400, and Russell 2000 were all down more than 1% while the S&P 500 was down about half that and the NASDAQ 100 was up 0.50%. The net number of stocks advancing was -1400 which was bearish. Markets rarely bottom on Friday so we look for […]
A Slow Correction
On Friday, the S&P 500 joined the Nasdaq in officially entering a correction having fallen over 10% from its July 31st high without a 10% rally in the interim. That is the 55th correction since 1952 when the five-day trading week began, and as shown below, it was one of the longer streaks for the index to […]
Bull Of The Day: Build-A-Bear Workshop
There is a silver lining to the market right now. With the broad market averages under so much pressure, there are a lot of stocks on sale. There are dozens of stocks that are off 20% in the last few months which are still making a ton of money. One way to find companies that […]
