Author Archive: Jeremy Parkinson
Empire State Manufacturing Survey: Continued Growth In January
This morning we got the latest Empire State Manufacturing Survey. The diffusion index for General Business Conditions at 17.7 was a decrease of 1.9 from the previous month’s 19.6. Annual benchmark revisions were made. The Investing.com forecast was for a reading of 18.0. The Empire State Manufacturing Index rates the relative level of general business conditions in New […]
Gold Finds Its Mojo
The monthly chart for gold gives gold traders and investors some much-needed cheer as the precious metal now has some solid support at $1257 where the volume point of control currently sits, and from where the metal has progressed on solid volume. To the upside $1357 is the target and first significant resistance on this […]
USD/JPY: Looks To Weaken Further Lower On Bear Pressure
USD/JPY: The pair closed further lower on Monday opening the door for more weakness. This view remains valid despite its present price hesitation. On the downside, support lies at the 110.00 level where a break if seen will aim at the 109.50 level. A cut through here will turn focus to the 109.00 level and […]
Citigroup Inc Q4 2017 Earnings Struck By Massive Tax Charge
Citigroup Inc (NYSE: C) released its fourth-quarter earnings report before opening bell this morning. Citigroup Q4 2017 earnings amounted to $1.28 per share on an adjusted basis, while revenue came in at $17.3 billion. Analysts had been expecting earnings of $1.19 per share on $17.2 billion in revenue. In the same quarter a year ago, the […]
Hold On For Dear Losses
Well, as equities continue their insane, unprecedented, history-making melt-up…… Bitcoin, the darling of hucksters and come-on artists for the past few months, isn’t exactly acting like the ATM machine the newcomers were promised: As I’ve mentioned before, wouldn’t it be oddly fitting if the lifetime high for Bitcoin was established at the precise […]
Stuart Olson Inc. Builds Good
Every New York stock exchange trading day I’m posting a daily dividend stock or fund review. I’ll share the three chief qualities of just one equity or fund that could be selected for a dividend stock portfolio I’ve named the Safari to Sweet Success. This week’s slot in the Safari portfolio is reserved for the […]
Qualcomm Upgraded To Buy From Neutral At Nomura Instinet
Nomura Instinet analyst Romit Shah upgraded Qualcomm (QCOM) to Buy and raised his price target for the shares to $75 from $58. The chipmaker closed Friday down 5c to $65.38. With Broadcom’s (AVGO) hostile takeover attempt now analogous to a “gun to the head,” Qualcomm management is likely to more aggressively focus on driving […]
3 Strong Buy Mutual Funds From The PIMCO Clan
Founded in 1971, Pacific Investment Management Company, LLC or PIMCO is an internationally acclaimed investment management firm. The company provides a wide range of financial services in 11 countries with the help of more than 2,200 employees. PIMCO had around $1.69 trillion assets under management as of Sep 30, 2017. PIMCO offers a broad lineup […]
Crashing Through The Glass Ceiling
Brent Crude crashed through $70 a barrel and WTI just shy of $65, shattering another glass ceiling many oil bears said was impossible to ever see. This came as OPEC said it has no intentions to relent on production cuts and overshadowed rising rig counts. Even as the market gets a little turn around Tuesday […]
GE Tumbles After Massive Finance-Arm Charge
Having enjoyed a phoenix-like renaissance in 2018 so far, GE is tumbling in the pre-market, erasing 2018 gains, following reports that the company will record an after-tax charge of $6.2 billion in its fourth quarter results as part of an ongoing review of its finance arm’s insurance portfolio. Additionally, as WSJ reports, GE will have to set aside […]
