Category Archive: Finance
American Express CEO Ken Chenault Is Retiring
Despite credit card giant American Express reporting another round of solid quarterly earnings, with revenue of $8.40bn beating expectations of $8.19bn, and generating EPS of $1.50, also above the $1.48 expected, and boosting its profit guidance for good measure, now projecting full-year EPS of $5.80 to $5.90, up from $5.60 to $5.80 (above the consensus […]
Ebay Inc Q3 2017 Earnings: Weak Guidance Sinks Shares
eBay Q3 2017 earnings were released after closing bell tonight, and the company reported non-GAAP earnings of 48 cents per share on $2.4 billion in sales. Analysts had been expecting non-GAAP earnings of 48 cents per share on $2.3 billion in revenue. In last year’s third quarter, eBay posted earnings of 45 cents per share […]
Will ‘Great Trends Grow’ From ‘Little Volatilities’?
Former trader and current man who gave up on you knowing how to trade years ago, Richard Breslow, is out on Wednesday with a pretty good piece that touches – knowingly or not – on some concepts Deutsche Bank’s Aleksandar Kocic has explored at length: the idea of a noisy status quo, and beyond that, […]
A Derivatives Look At What Happened To ‘Reflation’
The Office of the Comptroller of the Currency (OCC) reports that total gross notional derivatives contracts owned and outstanding by domestic banks rose for the second straight quarter. The OCC statistics are one quarter behind, meaning that though banks themselves are reporting Q3 numbers with earnings all figures shown here are from the official compilation […]
Bitcoin Completes 5-Wave Advance
A clear 5 waves can be traced-out since the beginning of 2015. The 1st wave was roughly 2830 points and lasted a year and a half. The current 5th wave has seemingly completed at 2825 points, which is nearly the same size as wave 1. It’s typical in Elliott wave theory that the 1st & 5th wave […]
Big Blue Blasts Dow To (Another) New Record High As Chinese Yield Curve Inverts
Don’t fight The Fed or The Machines… Video length: 00:04:05 The Dow is now the 2nd most overbought in 22 years… 3rd most overbought in 62 years Kicking off The National Congress last night, Xi’s words did not manage to inspire the bond market as China’s yield curve inverted once again… But thanks to Big Blue’s […]
Flattening Curve: Ticking Clock On This Over-Extended Cycle
As the stock market parties like it’s early 2000, a historically reliable indicator of economic weakness, the yield curve, continues to raise alarm in North America. The spread between 2 and 10 -year US Treasury yields reached a new cycle low of .75 this week, and in Canada .51. As show below in my partner […]
Fed Says Economic Activity Increased In September Through October
The Federal Reserve says in its latest Beige Book, “Reports from all 12 Federal Reserve Districts indicated that economic activity increased in September through early October, with the pace of growth split between modest and moderate. The Richmond, Atlanta, and Dallas Districts reported major disruptions from Hurricanes Harvey and Irma in some areas and sectors, […]
Fed Chair Pick To Be Made In 2 Weeks
Small Caps Stall The stock market was mixed on Tuesday. One of the new trends we’re seeing is weakness from the Russell 2000 which was down 0.34% on Tuesday. It’s now down 7 of the last 10 days. Even with that weakness it’s off less than 1% from its peak. This was to be expected given the […]
Housing Starts And The Economic Cycle – Wednesday, October 18
Wednesday’s data on Housing Starts and Building Permits disappointed consensus expectations, and while some of the declines can be chalked up to the hurricanes in the South we would note that Starts in both the Northeast and Midwest regions also showed declines. One silver lining to this month’s data was that in both the cases […]
