Author Archive: Jeremy Parkinson
Housing Starts Drop Most In 4 Months; Single-Family Starts Collapse In The Midwest
Another mixed picture from housing data following the roll-over in homebuilder sentiment last week. Housing Starts dropped 6.8% MoM in March to 1.215mm SAAR – the lowest since Nov 2016. The biggest driver was a 16% plunge in starts in The West and Midwest (35% plunge in Midwest single-family starts). Starts decline in both single- and […]
Hey! I Know May Stole The Show But Don’t Forget Iron Ore Is Collapsing
Well, needless to say, Theresa May stole the overseas spotlight this morning when, just after 6 am EST, she called for snap elections in the UK. That triggered a knee-jerk move higher in GBP/USD and a concurrent jump in gilt yields: But it was a sharp move lower in iron ore that weighed on risk sentiment […]
Omnicom (OMC) Beats On Both Q1 Earnings & Revenues
New York-based Omnicom Group Inc. (OMC – Free Report) is one of the largest advertising, marketing and corporate communications companies in the world. OMC is expanding its global footprint and is moving into new service areas by leveraging its digital and analytical capabilities and partnering with innovative technology firms in key markets. However, OMC forms an integral part of […]
May’s Early Election Bid Sends Sterling On Roller Coaster
UK Prime Minister May surprised investors by calling for a snap election on June 8. The Tory Party is ahead of Labour by over 20 percentage points. It currently enjoys a 17-seat majority in the House of Commons. The early election would put the next scheduled election in 2022, which is after the two-year Brexit negotiations […]
Goldman Sachs, Bank Of America Report Q1 Earnings
Goldman Sachs (GS) and Bank of America (BAC) released their latest quarterly earnings results before opening bell this morning. Goldman Sachs reported $5.15 per share in earnings on $8.03 billion in revenue, compared to the Wall Street estimates of $5.31 per share and $8.4 billion. In last year’s first quarter, the firm reported $2.68 per […]
UnitedHealth Group Inc. Reports Q1 Earnings Beat, Guidance Upped
UnitedHealth Group Inc. (NYSE:UNH) early Tuesday posted better than expected first quarter earnings results and lifted its full-year outlook, sending its shares higher in premarket trading.
The Stock Whisper Of The Day: BCS, BAC, GS
Hot stocks of the day: BCS, BAC, GS Video length: 00:04:07
Yen Index Benefits From Weak Sentiment And Repatriation Flows
Whilst the US dollar has been in a bearish trend for the last few months, for the Japanese yen sentiment here has been the polar opposite with the yen index rising strongly in a bullish trend, in part driven by yen repatriation flows during March and coupled with a stalling in equity markets as risk […]
Dollar Drivel
Strong dollar or weak dollar, take your pick. The dollar took a break last week after President Donald Trump said that the dollar was too strong. U S. Treasury Secretary Steven Mnuchin told the Financial Times a strong dollar was a positive in the long term. Overall this did not help the mood of the […]
E Market Briefing For Tuesday, April 18
An upside ‘lockout’ for sellers was not at all surprising, since virtually the entire ‘air pocket’ last Thursday was as anticipated; an ‘absence of bids’ just ahead of the dreaded military weekend. I suggested that sellers would get nowhere early Monday, and we’d go right back up again in a short-squeeze, ‘if’ we managed to […]
