Category Archive: Finance
General Stock Market Commentary – Rates
The Short-Term Trend The short-term uptrend refuses to top out despite the signs of short-term stress such as this chart below of the VIX which is pointing higher. The Nasdaq bullish percent has rolled over, although the NYSE bullish percent is still ticking up. Stock prices remain in an uptrend, but momentum looks […]
The Dow Hasn’t Done This Since 2008
Thanks to MMM and CAT (150 of The Dow’s 170 points today)… The Dow is massively outperforming today… And even more so on the year… In fact, this is the great Dow outperformance over the S&P since 2008… and that did not end well… VIX ended the day higher closing above 11 for the first […]
Kotlikoff: America In Worse Financial Shape Than Russia Or China
America’s 2017 fiscal gap will come in near $6 trillion, nine times higher than the $666 billion deficit announced by the US Department of the Treasury week, says Laurence Kotlikoff, an economics professor at Boston University. “Our country is broke,” says Kotlikoff, who estimates total US government debts at more than $200 trillion, when unfunded liabilities are […]
Advanced Micro Devices, Inc. Q3 2017 Earnings Beat
AMD Q3 2017 earnings were released after closing bell tonight, and the company posted adjusted earnings of 10 cents per share on $1.64 billion in revenue. Analysts had been expecting earnings of 8 cents per share on $1.5 billion in revenue. In last year’s third quarter, the chip maker reported earnings of 3 cents per share on an […]
AT&T Misses On Earnings Expectations
CNBC’s Julia Boorstin reports on the quarterly earnings report for AT&T.
World Markets Update – Tuesday, October 24
All eight indexes on our world watch list have posted gains for 2017 through October 23. The top performer thus far is Hong Kong’s Hang Seng with a gain of 28.66%, followed by India’s BSE SENSEX at 21.79%. In third is our own S&P 500 with 14.57%. The Last Four Weeks The tables below provide […]
Big Earnings Week Ahead For Tech
Q3 Earnings Look Great So Far This is the first week where earnings summaries include a significant portion of reports from Q3. As of the end of last week, 17% of S&P 500 firms reported earnings. According to S&P Dow Jones, the insurance firms’ hurricane weakness caused Q3 financial sector earnings to fall from $7.04 […]
This Bubble Gets Its “Alternative Paradigm”
Towards the end of financial bubbles, asset prices behave in ways that can’t be explained with rational/historical metrics. So new ones are invented to make sense of things. In the 1990s tech stock bubble, earnings were “optional” and “eyeballs” – that is, the number of visitors to a dot-com’s website – were what determined value. […]
Chipotle Mexican Grill, Inc. 3Q17 Earnings Miss Sends Stock Diving
Chipotle Mexican Grill (CMG) 3Q17 earnings were released after closing bell, and the company reported non-GAAP earnings of $1.33 per share on $1.13 billion in revenue. Wall Street had been expecting earnings of $1.63 per share on $1.14 billion in sales. In last year’s third quarter, the fast-casual dining chain reported earnings of 79 cents […]
Markit Composite PMI: Yet Another Diffusion Index Incorrectly Showing Strength
The Markit USA flash (preliminary) composite PMI shows strength this month as have other diffusion index reports including ISM and the Fed regional reports. Delivery delays contributed to manufacturing strength. Those delays are a hurricane impact as are reports of hiring. The Markit Composite PMI came in at 55.7 ahead of the Econoday consensus estimate of 55.7. […]
