Author Archive: Jeremy Parkinson
GDPNow Forecast Surges To 4.7%: Spread To Nowcast An Amazing 2.7 Percentage Pts
Following today’s ISM and construction reports, the GDPNow forecast for 3rd-Quarter GDP rose to 4.7%. Nowcast is 2.0%. The GDPNow to Nowcast spread is the widest in history. GDPNow Latest Forecast: 4.7%— September 4, 2018 The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2018 is 4.7 percent on September 4, […]
China’s Belt And Road Initiative Opens Up Unprecedented Opportunities
It was the best of times, it was the worst of times. A tale of two world leaders, U.S. president Donald Trump and China president Xi Jinping—both of whose countries have among the world’s best economies right now. But whereas Xi is playing Santa Claus to the rest of the world, doling out loans […]
Amazon Tops Trillion-Dollar Market Cap, Bezos Extends Lead As World’s Richest Man
Jeff Bezos was already the richest man in world history, but thanks to the surge in Amazon’s share price today – becoming the third company in history to top $1 trillion market capitalization (after Apple and PetroChina) – his net worth is up almost $70 billion in 2018, nearing $170 billion. After a brief dip on its earnings, […]
Tropical Storm Gordon Helps Extend Oil’s Rally
A tropical storm is headed for the Gulf of Mexico, and this is helped oil prices extend last week’s 5.4% rally. Light sweet crude oil for October delivered is about 1.6% higher at $70.80. It has been up to $71.40. The multi-year peak on the continuation futures contract was set in early July near $75.25. The […]
Nothing Can Hold Gold Prices Back Any Longer
iStock.com/Madmaxer Change in Fed Plans Isn’t Only Factor Pushing for Higher Gold Prices Federal Reserve Chair Jerome Powell recently delivered some choice words at Jackson Hole, Wyoming. He signaled a reconsideration of the Fed’s interest rate policy. Interest rates now may not increase as much as expected. That means a few things, but as far […]
Nothing Can Hold Gold Prices Behind Any Longer
iStock.com/Madmaxer Change in Fed Plans Isn’t Only Factor Pushing for Higher Gold Prices Federal Reserve Chair Jerome Powell recently delivered some choice words at Jackson Hole, Wyoming. He signaled a reconsideration of the Fed’s interest rate policy. Interest rates now may not increase as much as expected. That means a few things, but as far […]
USD/CAD’s Big Breakout Has Bulls Eyeing June’s Peak
US traders have returned from a long holiday weekend to the see the greenback gaining across the board (see my colleague Fawad Razaqzada’s post, “Dollar rises to resistance ahead of key US data” for more). The first of this week’s key US economic reports just hit the wires, and it’s impossible to see it as anything other […]
Nike Under Pressure After Choosing Kaepernick For New ‘Just Do It’ Campaign
Shares of Nike (NKE) are under pressure after the company announced that former NFL quarterback Colin Kaepernick, who sparked controversy by kneeling during the national anthem to protest racial injustice, will be one of the faces of its ad campaign for the 30th anniversary of its “Just Do It” motto. Many took to social media […]
Gold Market: Tactics For A Fourth Quarter Rally
Fresh statistics show that US gold jewelry demand is now about five times the size of US gold coin and bar demand. Back in 2014, I predicted this would occur, and it’s happening on schedule. What’s particularly interesting is that mine supply is barely growing and likely peaking, while US, Indian, and Chinese gold jewelry […]
Construction Spending Dips Slightly In July
Construction spending declined 0.1% in July. With major revisions being the norm, consider it flat. Econoday offers these Construction Spending highlights. A solid rise in residential spending offset a mixed showing for non-housing components and made for a 0.1 percent July rise in overall construction spending to barely come within Econoday’s consensus range. Residential spending rose 0.6 […]
