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Dow Up More Than 550 Points As Wall Street Rallies
Wall Street is tearing higher today, the Dow Jones Industrial Average (DJI) up more than 559 points and pacing for its third-straight win following a better-than-expected inflation reading. Meanwhile, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also significantly higher midday, while the Cboe Volatility Index (VIX) tumbles to its lowest level since mid-September.Options traders […]
Consumer Spending Plans At Recessionary Levels
Image source: Pixabay The University of Michigan Consumer Survey for November found a fresh low in spending intentions. Consumers citing interest rates as preventing them from buying an automobile (36%) and a home (67%) were the highest since the 1981 and 1982 recessions when the Fed funds rate was 12 and 10 percent, respectively, versus 5.5 […]
CPI Unchanged Thanks To Decline In Energy, But Rent Jumps 0.5 Percent
A 2.5 percent decline in energy smoothed the CPI. But for the 27th straight month, the cost of rent rose at least 0.4 percent.CPI month-over-month data from the BLS, chart by Mish Groundhog Day for RentI repeat my core key theme for two years now. People keep telling me rents are falling, I keep saying […]
Softs Report – Tuesday, Nov. 14
Photo by Amber Martin on Unsplash CottonGeneral Comments: Cotton closed a little higher yesterday. The weekly export sales report was strong and helped support prices. The monthly USDA reports were mostly ignored as market factors. USDA increased yields and production to 13.090 million bales. Ending stocks levels increased to 320 million bales from 280 million […]
Dollar Index Plummets, Stocks Soar As Inflation Cools Faster Than Expected
Image Source: Pexels The US dollar index fell and stocks rose higher on Tuesday following a positive inflation report for October.The US dollar index fell by roughly 1% on Tuesday following cooler-than-expected inflation data for October. The annual inflation rate of 3.2% was lower than economists’ projections and marked a notable drop from September’s 3.7%. The report acted as […]
Consumer Inflation Is Thoroughly Contained
The October CPI report confirmed yet again what I have been saying for months: except for fictitious shelter, both headline and core inflation are well within what should be the Fed’s comfort zone.Headline inflation (blue in the first two graphs below) was unchanged in October (thank you, a renewed decline in gas prices!) and was […]
EUR/USD Price Analysis: Outlook Shifts To Constructive Above 1.0800
EUR/USD shoots past the 1.0800 barrier, or multi-week highs. Extra gains appear on the cards above 1.0800. EUR/USD picks up extra pace and surpasses the 1.0800 hurdle for the first time since early September.A clear breakout of the 200-day SMA, today at 1.0801, should shift the pair’s outlook to a more constructive one and open the door to […]
Bull Of The Day: Pilgrims Pride
Pilgrim’s Pride (PPC) is a Zacks Rank #1 (Strong Buy) that engages in the production, processing, marketing and distribution of fresh, frozen, and value-added chicken, and pork products to retailers, distributors, and foodservice operators.The stock is trading at 52-week highs after a revenue and earnings beat. While PPC is trading up about 15% on the year, […]
The Cannabist Company’s Net Loss Increased 25% In Q3
The Cannabist Company Holdings Inc. (CBSTF) reported its financial results today for the third quarter (Q3) that ended September 30, 2023. Q3 Financial HighlightsFinancial results are reported in U.S. dollars and are in comparison to those reported in Q2. Revenue: N/C @ $129.2M Gross Profit: DOWN 28.7% to $37.1M Adj. Gross Margin: DOWN to 38.9% from […]
GBP/USD Forecast: Sees Volatility Against The US Dollar
However, it’s important to maintain a balanced perspective, and it’s unlikely that the US dollar will experience a significant downturn given the current tight monetary policy stance of the Federal Reserve. The GBP/USD initially made a push higher during Monday’s trading session but later relinquished a significant portion of its gains against the US dollar. Nevertheless, it’s […]
