Author Archive: Jeremy Parkinson
Durable Goods Order Jump 4.5%, Almost Entirely On Aircraft
Durable goods orders jumped 4.5% in August. Excluding transportation, durable goods orders increased 0.1%. The Census Department report on Advance Durable Goods shows orders rose 4.5% in August. New Orders New orders for manufactured durable goods in August increased $11.1 billion or 4.5 percent to $259.6 billion, the U.S. Census Bureau announced today. This increase, up two […]
4 Top-Ranked Stocks To Ride The Consumer Confidence Wave
Consumer confidence in the country grew unexpectedly in September, following solid improvement in August, according to a report by the Conference Board. Consumers’ evaluation of current conditions remained extremely optimistic, as job and economy remained on a growth trajectory. Rising consumer confidence also indicates consumers’ limited concerns about their nation’s ongoing trade disputes with China […]
Trade Wars Could Collapse US Car Sales And Slash 715K Jobs: It Would Trigger A “Downward Cycle”
The most significant and dangerous risks stem from policymaking. And on top of the list is, of course, the protectionist crusade of the Trump administration to disrupt the post–World War II global economic order the US was instrumental in building. The impact of President Trump’s escalating trade war with China is already being felt, auto experts […]
Precious Metals
Here is how I see the precious metals situation. It’s one or the other of… US dollar declines short-term and the precious metals bounce with the rest of the anti-USD trade, or… US dollar rises (likely along with the Gold/Silver ratio) and the precious metals decline again into a real buying opportunity. It. Is. A. […]
Stocks Fall After Fed Hikes Rates
Stocks Fall – Bank Stocks Fall Along With Treasury Yields The action on Wednesday was interesting. Both the sectors that like rate hikes and the sectors that don’t like rate hikes did poorly. The financials like rate hikes. However, they fell 0.99%, possibly because the Fed removed the term ‘accommodative’ from the statement. This pushes […]
What Argentina Tells Us About America’s Future
MOLINOS, ARGENTINA – “Never interrupt an enemy when he is making a mistake,” said Napoleon. In the 1970s, two of America’s biggest rivals were making big mistakes. Russia had been operating a centrally planned economy since the 1920s. China took up central planning after World War II. Communist central planning was a curse to those […]
Weekly Unemployment Claims: Up 12K, Worse Than Forecast
Here is the opening statement from the Department of Labor: In the week ending September 22, the advance figure for seasonally adjusted initial claims was 214,000, an increase of 12,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 201,000 to 202,000. The 4-week moving average was 206,250, […]
GW Pharmaceuticals Jumps As DEA Moves Cannabis-Derived Drug To Low Risk Category
Shares of GW Pharmaceuticals jumped in late morning trading after the company said Epidiolex will be now classified as a Schedule V controlled substance, the lowest ranked class, instead of a Schedule I drug, which had been widely expected. DEA RESCHEDULES EPIDIOLEX: GW Pharmaceuticals announced this morning, along with its U.S. subsidiary Greenwich Biosciences, that […]
AUD/USD Showing Signs Of A Potential Near-Term Top
As my colleague Fawad Razaqzada noted earlier today, the US dollar has caught a bid today after traders reevaluated yesterday’s FOMC meeting and deemed it moderately hawkish. Though the central bank removed the phrasing about monetary policy remaining accommodative from its statement, Fed Chair Powell was at pains to emphasize that that change was more procedural than anything. […]
Looking Back, Looking Ahead
In this year’s first column I said that GDP would grow 3 percent or more in 2018. Few agreed, but now it’s a sure thing. Because of economic strength, I predicted that the Fed would raise interest rates and raise them again, frustrating President Trump along the way. They did. Expect more tweets. I also […]
