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Archives by Year:
S&P 500 Earnings Dashboard 23Q3 – Tuesday, Oct. 31
Image Source: Pexels S&P 500 Aggregate Estimates and Revisions The 23Q3 Y/Y blended earnings growth estimate is 4.9%. If the energy sector is excluded, the growth rate for the index is 10.3%. Of the 279 companies in the S&P 500 that have reported earnings to date for 23Q3, 78.5% 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 […]
Gold Price’s Suspicious Daily Rally
Gold futures finally closed above $2,000, but if one is betting on the rally’s continuation, it’s too early to open that champagne.There are a few things about yesterday’s move higher that make it suspicious. Two of them are visible directly on gold’s chart. The yellow precious metal moved above the late-July high and… It failed […]
Stocks Sporting Muted Losses As October Winds Down
Stocks are inching lower, with all three major indexes on track for their third-straight losing months. The Dow Jones Industrial Average (DJI) is making the largest move midday with a minor 30-point swing lower. Meanwhile, the October consumer confidence index reading fell to a five-month low of 102.6 amid geopolitical and inflation concerns. Pinterest Inc […]
Bottoming Before FOMC?
S&P 500 turned up, opening with a bullish gap, but that wasn‘t any surprise for clients. What is a show of short-term resilience, is no steep upswing in yields complemented by decline in stocks, upon BoJ yield curve control adjustment. Also the USDJPY move if yen‘s favor was completely erased, indicating that rumors of abandoning yield curve […]
Case-Shiller Home Prices Climb Another One Percent As Bubble Expands Further
Existing home prices climb another one percent in August according Case-Shiller data released today. Case-Shiller lags but it’s the best measure of home prices readily available. Case-Shiller, OER and CPI data from St. Louis Fed, chart by Mish Chart Notes National and 10-City Case-Shiller home prices hit new record highs in August. OER, CPI, and Rent […]
Cloud Stocks: ServiceNow’s Stellar Performance Continues ServiceNow’s AI Focus
Last week, ServiceNow (NOW) reported its third quarter results that continued to surpass market expectations. ServiceNow does not appear to be fazed by macro-economic conditions and provided an outlook that also beat the expectations. ServiceNow’s FinancialsFor the third quarter of the year, ServiceNow’s revenues grew 25% to $2.29 billion, ahead of the market’s forecast of $2.27 […]
USD/CAD: Values Firm Before Data Releases Brings Volatility
The U.S. Federal Reserve has made it relatively clear they will not raise interest rates tomorrow, but they will likely continue to sound quite hawkish about the potential of raising the Federal Funds Rate again if needed. The USD/CAD appears for the moment to be in a rather calm trading range. However, the rather steady value around 1.38200 […]
The Energy Report: Free Pass
Photo by Zbynek Burival on UnsplashThe oil price fell 4% as the market sucked out war premium after a comment by Israeli Prime Minister Benjamin Netanyahu. Israel will do everything it can to bring the hostages home and the perception that Iran will get a free pass and will continue to ship oil as if […]
House Resale Price Indexes Confirm Upturn In Prices For Existing Homes, But Do Not Negative Combined Price Declines
We got more price information about the very important housing market this morning.Through September, the median price of home resales as measured by Case Shiller increased 0.9% monthly. For the FHFA Index they rose 0.6%. Both measures are up about 46% since just before the pandemic hit (note: FRED hasn’t updated the FHFA index yet): […]
Tesla Short Sellers Have Made Over $3 Billion Since Its Q3 Earnings Call
Tesla (TSLA) shares fell over 18% after coming under significant pressure from the company’s disappointing Q3 earnings call and demand concerns. Among those that capitalized heavily on this decline were Tesla short sellers, who bagged $3 billion since the earnings report. Tesla Erases $213B Off Market Cap Since Q3 Earnings CallShort sellers targeting Tesla stock raked in $3 billion from […]
