Author Archive: Jeremy Parkinson
E Common Denominator Drivings Stocks Higher
Trading Strategy Even the bulls were amazed as technology companies and financial shares push higher, and U.S. stock indexes hit fresh record highs. The common denominator that is driving the stock market higher is QE or Quantitative Easing, and it’s still far from over, and going to take a while to unwind the last 10 […]
Bull Market Remains Unfazed During Global Disasters
Over the past quarter, North Korea successfully tested a hydrogen bomb; devastating hurricanes battered Texas, Florida and the Caribbean; political dysfunction in Washington featured more Russia controversy and significant White House staff turnover; Equifax reported a massive personal data breach; and the Fed indicated it remains on track to raise interest rates another 0.25% this […]
September Retail Sales: Up 1.6% MoM
The Census Bureau’s Advance Retail Sales Report for September released this morning showed a slight increase over the August figures. Headline sales came in at 1.6% month-over-month to one decimal. Today’s headline number was slightly below the Investing.com consensus of 1.7%. Core sales (ex Autos) came in at 1.0% MoM. Figures were revised going back to August […]
August 2017 Headline Business Sales Improved
Econintersect‘s analysis of final business sales data (retail plus wholesale plus manufacturing) shows unadjusted sales grew relative to last month whilst inventories also grew. This is similar to the headline view. Analyst Opinion of Business Sales and Inventories This was a better month for business sales compared to last month – but inventories remain elevated. […]
Wells Fargo (WFC) Q3 Earnings In Line, Revenue Disappoints
Have you been eager to see how Wells Fargo & Company (WFC – Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this San Francisco-based money center bank’s earnings release this morning: In line Earnings Wells Fargo came out with adjusted earnings per share of $1.04, in line with […]
How Will Banking And Credit Work In A Cryptocurrency Economy?
What is the future of banking, central banking and financial intermediation in a world in which cryptocurrency is dominant? Let’s speculate a bit, with the proviso that no one can fully anticipate how these markets will evolve. It is no wonder that the ruling class is concerned. We can find hints in the speech by IMF head […]
Market History And Metaphors
“History doesn’t repeat itself, but it often rhymes,” Mark Twain supposedly once observed. As the Fed begins to shrink its balance sheet even as it determinedly jacks up interest rates, we would be prudent to consider where history has rhymed before and what we might learn from those instances. 2007–08 This is the tenth anniversary […]
Allergan Says Mohawks Bought Restasis Patents With Immunity Promise
Allergan’s (AGN) odd patent transfer to the St. Regis Mohawk Tribe is gaining a lot of scrutiny. It sued rivals from offering generic Restasis, its blockbuster dry eye treatment. Now the judge in he case, Judge William Bryson, has asked for details of the patent transfer meant as an IPR defense. According to Allergan it […]
Dollar Dropped Like Hot Potato After Core CPI Disappointed
The dollar was bid before the US economic data. The market responded quickly upon seeing the disappointing 0.1% rise in core CPI. Given the base effect, the 0.1% increase kept the year-over-year rate at 1.7% for the fourth consecutive month. The dollar reversed lower. Retail sales were largely in line with expectations. The 1.6% headline increased […]
BofA (BAC) Keeps The Trend Alive, Beats On Q3 Earnings
Despite trading slowdown, loan growth and higher interest rates drove Bank of America Corporation’s (BAC – Free Report) third-quarter 2017 earnings of 48 cents per share, which outpaced the Zacks Consensus Estimate of 46 cents. The figure was 17% higher than the prior-year quarter. Markets also seem to be happy with BofA’s results. In pre-market trading, the […]
