Author Archive: Jeremy Parkinson
Lira Tumbles After Zarrab Confirms Erdogan Approved “Secret Iran Gold” Trade
In somewhat of a worst-case scenario, Turkish-Iranian gold trader Reza Zarrab just confirmed that Turkish President Erdogan approved the “secret Iran gold” trade that enabled Iran to evade US sanctions. The immediate reaction is clear. Citi’s FX desk explains why Turkish markets are watching the US trial of a banker so closely. The basics: The US […]
Yellen’s Last Testimony Before Congress And Gold
Yesterday, Yellen testified before the U.S. Congress. What do her remarks mean for the gold market? On Wednesday, Janet Yellen, still the Federal Reserve Chair, testified before the Joint Economic Committee. Given that Powell will replace her as Fed chief, it was Yellen’s last testimony before Congress. Her prepared remarks were upbeat about the economic outlook. Yellen pointed […]
Gold & Gold Stocks On Cusp Of Downside Break
We provide our immediate outlook for Gold and gold stocks which is bearish but we also touch on how gold stocks fit into the history of recoveries from mega bear markets. This history implies gold stocks will make a significant low in 2018 and perform fantastically well into 2019.
PCE Price Index: October Headline & Core
The BEA’s Personal Income and Outlays report for October was published this morning by the Bureau of Economic Analysis. The latest Headline PCE price index was up 0.14% month-over-month (MoM) and is up 1.59% year-over-year (YoY). The latest Core PCE index (less Food and Energy) came in at 0.21% MoM and 1.45% YoY. Core PCE remains below […]
GBP/USD Pierces Above 1.35 On A Big Brexit Deal: Ireland, Transition
Optimism is rampant for a big Brexit breakthrough. First, we learned that the May is ready to open the checkbook regarding the divorce bill. Now, we also learn that Dublin and London are drawing closer to some kind of an agreement on the Irish border. And to top it off, the Times report also discusses a potential agreement with […]
Workday’s (WDAY) Q3 Earnings Beat Estimates,’18 Guidance Up
Workday Inc. (WDAY – Free Report) reported third-quarter fiscal 2018 non-GAAP earnings of 24 cents per share, which beat the Zacks Consensus Estimate of 15 cents. The figure was also better than 5 cents reported in the year-ago quarter. The strong growth was primarily attributed to 34.3% jump in revenues, which totaled $555.4 million. The figure surpassed the […]
Kroger (KR) Q3 Earnings & Sales Beat, View Intact, Stock Up
After witnessing a negative earnings surprise in the second quarter of fiscal 2017,The Kroger Co. (KR – Free Report) made a sharp comeback in the third quarter. The grocery retailer posted earnings of 44 cents a share that beat the Zacks Consensus Estimate of 40 cents and increased 7.3% from the prior-year quarter. As a result, shares are […]
Uber Reports Massive $1.5 Billion 3Q Loss As Two Investors Drop Out Of New Financing Round
Following an embarrassing revelation from about a weak ago that Uber concealed a massive cyberattack – in which hackers stole personal data from 57 million customers for more than a year – and paid the hackers $100,000 to keep quiet (not to mention the plethora of other scandals of late), investors in the private company have rightfully […]
US Retail Companies Have A Massive Bill To Pay Come 2018
Right now, retail stores are closing at a pace that we haven’t seen since the 2008-2009 financial crisis. Some are calling it a ‘retail apocalypse’ as a number of major headwinds approach, including increasing pressure from Amazon and the sad fact that most brick-and-mortar retailers simply built way too many stores and borrowed too much […]
How Should We Think About Bitcoin?
Is it a speculation or an investment? Is it an Investment? Bitcoin is most certainly not an investment. Investments can be valued based on a current or expected cash flow stream. Think CDs, bonds, stocks, or real estate. Bitcoin generates no cash flow. Yes, there are businesses that currently do not generate positive cash flow […]
