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Saving Copper – Manic Metals Report
Image Source: Unsplash The rebound in copper could signal that the sell-off in all metals could be nearing an end. Copper bounced after China’s central bank on Thursday unexpectedly cut its one-year lending facility rate by 0.2% to 2.30%, days after reducing another key short-term rate singling that China was prepared to do more to stimulate the […]
Business Cycle Indicators At End Of July
Image source: Pixabay Nominal consumption, PCE deflator m/m at consensus, nominal income at +0.2% vs. +0.4%. Here’s the picture of key NBER BCDC indicators plus monthly GDP: Figure 1: Nonfarm Payroll (NFP) employment from CES (bold blue), civilian employment (orange), industrial production (red), personal income excluding current transfers in Ch.2017$ (bold green), manufacturing and trade sales in […]
Meta AI Strategy – Give Something To Get Something
Image Source: Pixabay Are the biggest technology firms overinvesting in artificial intelligence? Probably. Meta Platforms’ $40 billion in capital spending this year, for example, will be around double what it allocated in 2021. Shareholders have been broadly supportive of that. But what happens if companies give away the results of their investment for free?That’s effectively what […]
Stocks To Watch Today: 3M, BMY, And Coursera Inc.
Image courtesy of 123rf.com Several major companies reported quarterly earnings this week, with 3M (NYSE: MMM), Bristol-Myers Squibb (NYSE: BMY), and Coursera Inc (NYSE: COUR) all seeing significant stock price movements following their announcements. As of the time of writing, all three stocks were trading actively on significantly higher-than-average volume. 3M (NYSE: MMM) Stocks See Largest […]
Is The Top In For Stocks?
Everywhere I look, I see investors proclaiming that “THE” top is in and a bear market is about to unfold.First and foremost, there is NO reason to ever try to call a top.Why?Because doing so doesn’t make you any money. In fact, top callers usually miss out on major market gains by selling way too early.Consider what happened […]
Cloud Stocks: IBM Gets A Boost From AI, Services Leads The Way
Photo Credit: Mikita Yo on Unsplash IBM (NYSE: IBM) recently announced strong results for its second quarter that surpassed analyst estimates driven by a boost in its AI business. IBM’s Financials Revenues for the second quarter grew 2% to $15.8 billion, beating the Street’s estimates of $15.62 billion. Adjusted earnings of $2.43 per share were ahead of the […]
Dow Recovers Weekly Losses With 600-Point Pop
The Dow Jones Industrial Average (DJIA) is soaring today, up 608 points at last look and breaking into positive territory for the week. Should these gains hold, the blue-chip index will mark its fourth-straight weekly win. The S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) are comfortably higher as well, though both are still […]
Michigan pension fund invests $6.6 million in Bitcoin via ARK 21Shares ETF
Key Takeaways Michigan’s retirement system invested $6.6 million in Bitcoin through ARK 21Shares’ ETF. Other pension funds, including Wisconsin’s SWIB, are also adding Bitcoin exposure. The State of Michigan Retirement System reported a Bitcoin (BTC) investment amounting to $6.6 million through ARK 21Shares’ ARKB spot BTC exchange-traded fund (ETF), revealed the filing of its 13-F […]
FOMC Preview: Growing Confidence Of A Fed Rate Cut In September
US data should give officials more confidence that inflation is heading to 2% and we suspect attention will start focusing on achieving a ‘soft landing’ for the economy. Next week’s FOMC meeting should lay the groundwork for a September rate cut as policy starts shifting from restrictive territory to something more neutral.Image source: Wikipedia Back on track […]
Lots Going On Beneath The Surface Of The Pullback
Happy Friday. Let’s talk about pullback and what to glean from it. So far here is what has occurred.Dow Industrials -3%S&P 500 -4%S&P 400 -4%Russell 2000 -3.5%Nasdaq 100 -9% On the surface you may conclude that the pullback is basically even except for the Nasdaq 100. But you would be wrong. There is something important beneath the […]
