Author Archive: Jeremy Parkinson
AIG Reversal
One of the most catastrophic drops to take place during the days of the financial crisis (sigh – – those were the days) was AIG International. Of course, the executives didn’t suffer for it – they made hundreds of millions of dollars and were paid huge bonuses after their crimes were discovered, thanks to the US Government. Even so, […]
Junk Bond Managers Are Now Buying Equities
Stocks are so hot that junk bond managers went into equity markets. Bloomberg’s Lisa Abramowicz explained the conditioning that’s led to this – simply that the performance rankings of corporate debt funds shows that those which are taking the most risk have, not surprisingly, booked the best performance in 2017. While this involved purchasing lower-rated credit instruments, in […]
Palladium Is The Anti-Tesla Bull Market
The palladium bull market flies in the face of what investors “know” right now. It began back in January 2016 and has not let up. After 22 months, it just hit a major milestone. The price is up 109% from its low and shows no signs of slowing. You see, palladium’s demand comes from automobiles. The gas-powered […]
ECRI Weekly Leading Index: WLI Up Again
Today’s release of the publicly available data from ECRI puts its Weekly Leading Index (WLI) at 146.6, up 1.4 from the previous week. Year-over-year the four-week moving average of the indicator is now at 4.17%, up from 3.67% last week. The WLI Growth indicator is now at 2.3, up from 1.3 the previous week. “Consensus […]
Jefferies Sees ‘Increasing Probability’ Of Nike Hitting $35 Per Share
Jefferies analyst Randal Konik admits the market knows Nike needs to lower its growth expectations. The analyst, however, views the company’s “ubiquitous distribution” as the “real canary in the coal mine.” Further, the market share gains by Adidas (ADDYY) are “unrelenting,” Konik told investors earlier in a research note. He sees earnings and multiple risk […]
Political Economics
Who President Trump ultimately picks as the next Federal Reserve Chairman doesn’t really matter. Unless he goes really far afield to someone totally unexpected, whoever that person will be will be largely more of the same. It won’t be a categorical change, a different philosophical direction that is badly needed. Still, politically, it does matter […]
EUR/USD – Euro To 1.1670
The most important event risk on next week’s calendar will be the highly anticipated European Central Bank monetary policy announcement. EUR/USD has traded in a narrow range ahead of the announcement as investors wonder whether it will be a hawkish or dovish taper. Having mentioned the need to make changes to their QE program for […]
The Hits Keep On Coming For The S&P 500
Here are some mind-blowing figures for you. In the 15 trading days since the start of October, the S&P 500 is on pace to close at a record high for the 10th time. Further, if the S&P 500 finishes up on the day Friday, it will be the 19th time that the index has closed […]
Schlumberger (SLB) Q3 Earnings In-Line, Revenues Lag
Houston, TX-based Schlumberger Limited (SLB – Free Report) is a leading oilfield services company, providing technology, project management, and information services to the global oil and gas industry. Schlumberger’s reporting segments can be categorized under four segments: Reservoir Characterization, Drilling, Production, and Cameron. In the last four trailing quarters, the company has reported a positive average earnings surprise of […]
GBP/USD October Rebound Vulnerable To Lackluster U.K. GDP Report
Fresh comments from U.K. Prime Minister Theresa May appear to be propping up the British Pound, with GBP/USD bouncing back from a fresh weekly-low (1.3088), but another batch of lackluster data prints may undermine the near-term rebound in the exchange rate as it encourages the Bank of England (BoE) to keep the benchmark interest rate […]
