Author Archive: Jeremy Parkinson
Growth Alert: New Home Sales Hit 10-year High
Sales of new single-family homes surprised economists in October to the upside. Sales rose last month hitting their highest level in 10 years amid robust demand across the country. The Commerce Department said new home sales increased by 6.2 percent to a seasonally adjusted annual rate of 685,000 units. That was the highest level since […]
Second Estimate 3Q2017 GDP Growth Improves To 3.3 %
The headline second estimate of third quarter 2017 Real Gross Domestic Product (GDP) was increased to a positive 3.3 % from the advance estimate’s 3.0 %. Year-over-year growth was unchanged from the advance estimate. Analyst Opinion of GDP The consumer spending declined, but the real improvement came from fixed investment. I am not a fan of quarter-over-quarter […]
Q3 GDP Revised Up To 3.3%, Highest In 3 Years
After the BEA estimated that US GDP rose an already impressive 3.0% in Q3, moments ago the Department of Commerce revised its estimate for third-quarter growth to 3.3% annualized, higher than the 3.2% print expected, the highest since the third quarter of 2014. On a Y/Y basis, GDP rose by 2.3%, the highest since Q3 2015: […]
German Inflation Beats Expectations With 1.8% Y/y – EUR/USD Ignores
A better than expected inflation read from Germany: annual inflation is now 1.8%, a jump from 1.5% in October. Month over month, prices are up 0.3%. We have the same numbers in both the national and HICP measures. EUR/USD is not really enjoying it, extending the slide and reaching 1.1835. Germany was expected to report a […]
Bull Of The Day: Analog Devices (ADI) – Wednesday, Nov. 29
Video length: 00:00:35 Founded in 1965 and headquartered in Norwood, Massachusetts, Analog Devices (ADI) is an original equipment manufacturer of semiconductor devices, specifically, analog, mixed signal and digital signal processing (DSP) integrated circuits. The company’s products include data converters, amplifiers and linear products, radio frequency integrated circuits, power management products, and sensors and processing products. Solid Quarterly […]
USD/JPY Higher Despite NK Missile Launch
The US Dollar was steady versus the Japanese Yen, receiving support from the latest economic data out of the United States which was unexpectedly upbeat. The Dollar was also resilient in spite of the latest war mongering efforts from North Korea who launched yet another rocket test near Japan. Analysts say that market players are still […]
Allergan Upgraded To Overweight Amid ‘Overdone’ Botox Fears At Morgan Stanley
As previously reported, Morgan Stanley analyst David Risinger upgraded Allergan (AGN) to Overweight from Equal Weight, saying that fears about a “better Botox” from Revance (RVNC) may be overdone. Noting that data about Revance’s botulinum toxin RT002 Phase 3 trial is expected “any day now,” Risinger said he thinks it could be difficult for Revance […]
Own Gold Bullion To “Support National Security” – Russian Central Bank
Last week Russia’s Central Bank First Deputy Governor Sergei Shvetsov said Russians own gold bullion and their central bank is adding to its gold reserves in order to “beef up national security.” Yesterday, the Russian Finance Minister Anton Siluanov warned Washington yesterday: “If our gold and currency reserves can be arrested, even if such a thought exists, it would […]
How Sweet It Is
OPEC and Non-OPEC sources announced that they have agreed to extend production cut until the end of 2018, but will review the situation in June to make sure that the cuts are not causing larger problems for the Cartel. Worries ranging from them not doing enough or doing too much that will allow shale oil […]
S&P 500 And Nasdaq 100 Forecast – Wednesday, Nov. 29
S&P 500 The S&P 500 rallied during the day on Tuesday, breaking well above the 2625 level, as the tax reform bill that the Republicans have been working on passed the Senate committee. This of course is a good sign for the potential of tax reform, and that should send the stock market higher. At […]
