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Archives by Year:
Happy Monday So Far, With A Busy Week To Follow
Image Source: Unsplash It’s Monday morning, and we’re higher. As we noted two weeks ago, that’s become a frequent occurrence. We broke a 15-week streak last week (of course, after we wrote about it), and noted that Mondays have closed higher 80% of the time this year, when 53% has been normal for all days and Mondays […]
Here Is What Wall St. Experts Are Saying About Pinterest Ahead Of Earnings
Image Source: Unsplash Pinterest (PINS) is expected to announce third quarter results on Monday, October 30 after the market close, with a conference call scheduled for 4:30 pm EDT. What to watch for: GUIDANCE: In August, Pinterest forecast third quarter revenue growth in the high single digits and adjusted operating expense growth in the low single digits. Analysts previously […]
FTSE Starts The Week With Modest Gains Ahead Of Month End
Image Source: Pexels On Monday the FTSE 100 saw a slight increase. This rise was primarily driven by gains in mining stocks, which are closely linked to the commodities market. The commodity-focused FTSE 100 experienced a gain of 0.85% during the trading session. Base metal prices witnessed an increase, with most of them rising, due to […]
Eurozone Economy Braces Itself For Prolonged Sluggishness
Economic sentiment dropped in October as the first countries reported somewhat better-than-expected GDP growth in the third quarter, making a technical recession in the second half of the year unlikely – but a decline in 4Q is a realistic prospect. Businesses report a slight tick-up in selling price expectations, but hard data still looks benign.Image Source: Pixabay The […]
S&P 500 Index Nears Important Long-Term Trend Support
Image Source: Pixabay Stocks have come under pressure and concerns are beginning to mount.But rather than zooming in on the short-term, sometimes it’s good to zoom out and look at the long-term technical picture. And in today’s case, it may very well lead us to the short-term outcome as well!Below is a “monthly” chart of the S&P […]
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 […]
