November 2017 Manufacturing Survey Growth Remains In Expansion
Dec 01, 2017
Jeremy Parkinson
Finance
The ISM Manufacturing survey declined insignificantly and remained in expansion. The key internals remained in expansion. The Markit PMI manufacturing Index, also released today, is in positive territory but declined. Analyst Opinion of the ISM Manufacturing Survey Based on these surveys and the district Federal Reserve Surveys, one would expect the Fed’s Industrial Production index […]
Powell’s Hearing And Gold
Dec 01, 2017
Jeremy Parkinson
Finance
On Tuesday, Powell testified before the U.S. Congress. What do his remarks mean for the gold market? Yesterday, we wrote about Yellen’s last testimony before the Joint Economic Committee. Her remarks were very interesting, but – sorry, Janet – she is no longer the most important person at the Fed. Surely, she is still the Fed Chair, but […]
Do Not Show This Bitcoin Chart To Donald Trump…
Dec 01, 2017
Jeremy Parkinson
Finance
And so it’s official, Bitcoin futures got the green light this morning, clearing the way for i) deeper, more robust markets and more institutional involvement, ii) the end of the world, or more likely iii) both. Given the bombshell (if largely expected) news, we thought this was an opportune time to draw readers’ attention to perhaps the most shocking Bitcoin chart of […]
Bitcoin Mania Will End In Tears
Dec 01, 2017
Jeremy Parkinson
Finance
Unless you are living under a rock, you surely have heard of bitcoin as it surpassed the $10,000 mark yesterday and briefly topped $11,000. You may have no idea what it is or how it works but the stories of kids turning into multimillionaires in short order are undoubtedly tickling your greedy side. We are all human […]
Markit Manufacturing PMI: Robust Growth In November
Dec 01, 2017
Jeremy Parkinson
Finance
The November US Manufacturing Purchasing Managers’ Index conducted by Markit came in at 53.9, down from the 54.6 final October figure. Today’s headline number was above the Investing.com forecast of 53.8. Markit’s Manufacturing PMI is a diffusion index: A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Here is the opening from Chris […]
Providence Service Corporation Declares Cash Dividend On Convertible Preferred Stock
Dec 01, 2017
Jeremy Parkinson
Finance
STAMFORD, Conn., Dec. 01, 2017 (GLOBE NEWSWIRE) — The Providence Service Corporation (Nasdaq: PRSC) today announced that its Board of Directors has declared a cash dividend on its 5.5%/8.5% Series A convertible preferred stock. The dividend is payable on January 2, 2018 to holders of record as of 5:00 p.m. ET on December 15, 2017. The […]
Five Below (FIVE) Q3 Earnings & Sales Beat, Raises View
Dec 01, 2017
Jeremy Parkinson
Finance
Five Below, Inc. (FIVE – Free Report) delivered better-than-expected top and bottom line for the fifth straight quarter, when it posted third-quarter fiscal 2017 results. The impressive results prompted management to provide an encouraging outlook. Consequently, shares of this Zacks Rank #2 (Buy) company increased 2.3% in after-hour trading session yesterday. In fact, the stock has surged 28.7% […]
Debt, Taxes, Growth And The GOP Con Job
Dec 01, 2017
Jeremy Parkinson
Finance
During more than four decades in Washington and on Wall Street it is quite possible that we never picked up any useful skills. But along the way we did unavoidably acquire what amounts to a survival tool in those fair precincts—-namely, a nose for the con job. And what a doozy we have going now as a desperate mob of Capitol […]
Charting Gold, Silver, Oil, And Natural Gas
Dec 01, 2017
Jeremy Parkinson
Finance
Below we take a look at one-year trading range charts for gold, silver, oil, and natural gas. For each chart, the green shading represents between two standard deviations above and below the commodity’s 50-day moving average. Moves to the top of or above the green shading are considered overbought, while moves to the bottom of […]
Rail Week Ending November 2017: Economically Intuitive Sectors Again Improved
Dec 01, 2017
Jeremy Parkinson
Finance
Week 47 of 2017 shows same week total rail traffic (from same week one year ago) expanded according to the Association of American Railroads (AAR) traffic data. The economically intuitive sectors remain in expansion and the rolling average growth rate improved marginally. Analyst Opinion of the Rail Data We review this data set to […]