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Archives by Year:
Three Stocks Targeted By Activist Investor Elliot Management
Image courtesy of 123rf.com This year hasn’t been good for ESG-focused investors. The environmental, social, and governance (ESG) framework filters companies beyond their profitability baseline. Yet, more ESG funds closed in 2023 than in previous years. In June, ESG’s foremost promoter and facilitator, BlackRock’s CEO Larry Fink, noted that the catch-all term has become “entirely weaponized.” At the same […]
Is Economic Activity Really A Lot Lower Than It Seems?
Lavorgna (SMBC Nikko) and Millar (Barclays) say look to GDI for a better estimate of economic activity. Both argue that GDI might better signal an incipient recession (USAToday):Figure 1: GDP (bold black), GDO (bold light blue), GDP+ (red), GDI (blue), all in bn.Ch.2017$ SAAR. GDP+ level uses GDP+ growth rates iterated on 2019Q4 GDP. Source: BEA […]
Sideways Range
The S&P 500 Equalweight index, which gives each stock in the index an equal 0.2% weighting, is currently trading at the same level it was at back in April 2021. Investors used to getting the standard 8-10% per year in the US stock market have gotten far less than that over the last two and […]
Gold Hits All-Time Highs And DJCI Silver Tops 10% In November
“Silver and gold, silver and gold, Everyone wishes for silver and gold.” – Burl Ives My all-time favorite stop-motion animation show was the 1964 TV special Rudolph the Red-Nosed Reindeer, narrated by Burl Ives. Playing the role of Sam the Snowman, Ives sang “Silver and Gold,” paying tribute to the work of Yukon Cornelius, a prospector mining […]
Russell 2000 Pegged By Minor Resistance As Nasdaq And S&P Hold Breakout Support
The Russell 2000 (IWM) posted two days of strong buying that brought the index up towards minor resistance. Not surprisingly, after days of narrow action into the prior ascending bullish triangle consolidation, the resulting price surge has entered a new consolidation period. Technicals for the index are strongly net bullish, but even with the loss, […]
Stocks And Precious Metals Charts – Longing For Virtue In The Darkness
Stocks were taking a little respite and a bounce higher after their recent declines.The Dollar moved higher.Gold and silver extended their decline.VIX declined.There is quite a chunk of gold sitting in the Comex warehouses in Hong Kong. This often presages a smack down in the Western futures price, and an outflow of physical in Asia, when […]
Can Stocks Hold Their Gains With The USD Rebound?
Image Source: Unsplash Despite the rebound in the U.S. Dollar, stocks have held their recent gains well, and we continue to see leadership from key sectors like technology. The bond market seems to be pricing in more disinflation, especially as crude oil falls to new multi-month lows.Video Length: 00:10:19More By This Author:Is The Bullish Squeeze Out […]
Market Talk – Tuesday, Dec. 5
ASIA:Moody’s has downgraded China’s government credit rating outlook from stable to negative due to concerns about potential lower medium-term economic growth and the ongoing contraction of the property sector. Despite this, Moody’s has affirmed China’s A1 long-term local and foreign-currency issuer ratings. The agency predicts a 4% annual GDP growth for China in 2024 and […]
WTI Extends Losses To 5-Month Lows After API Reports Huge Crude Build At Cushing
Image Source: Unsplash Oil prices fell for the fourth straight day to close at five-month lows today as US oil exports neared record highs amid record-high domestic crude production flooding the market, overshadowing Saudi Arabia’s pledges that OPEC+ will deliver on its planned production cuts. “The voluntary element of the deal left the markets questioning whether the supply reduction would actually come […]
Dow, S&P 500 Stumble As Bond Yields Retreat
Stocks stalled out again today, with the Dow settling lower, the S&P 500 closing flat, and the Nasdaq managing a minor win. Despite the December dreariness on Wall Street, job openings fell to 8.7 million in October, the lowest level since March 2021 and signaling a cooling labor market. In response, the 10-year Treasury yield dropped below […]
