Category Archive: Finance
New Residential Building Permits: Up In September
The U.S. Census Bureau and the Department of Housing and Urban Development have now published their findings for September new residential building permits. The latest reading of 1.215M was a decrease from 1.272M in August and above the Investing.com forecast of 1.245M. Here is the opening of this morning’s monthly report: Building Permits Privately-owned housing units authorized […]
The Elimination Of A Natural Gas Weather Premium
Again today we saw natural gas prices come under heavy selling pressure as longer-range forecasts eliminated the heating demand that we see in the medium-term forecast. The result was a break below one of our near-term support levels at $2.88 which opens up room for a re-test of $2.83. One easy way to see the […]
Alcoa Corporation Reports Third Quarter 2017 Results
PITTSBURGH–(BUSINESS WIRE)–Alcoa Corporation (NYSE: AA): 3Q 2017 Results1 Net income of $113 million, or $0.60 per share Excluding special items, adjusted net income of $135 million, or $0.72 per share $561 million of adjusted earnings before interest, tax, depreciation and amortization (EBITDA) excluding special items, up 16 percent sequentially, on improved aluminum pricing and higher […]
SEC Hires JPM Banker As Its Most Important Markets Regulator; May Blow Up HFTs
Yes, it’s another glaring case of “revolving door” cronyism between Wall Street and the SEC: on Wednesday, the Securities and Exchange Commission announced it had hired Brett Redfearn, a JPMorgan banker, to head the agency’s Division of Trading and Markets, arguably the most important group within the SEC, one which oversees U.S. stock markets and […]
Chipotle Slides After Analyst Says Sell On Labor Costs Concerns
Shares of Chipotle Mexican Grill (CMG) are sliding after Bank of America Merrill Lynch analyst Gregory Francort downgraded the stock to Underperform, a sell-equivalent rating, on labor costs concerns. The analyst argued that while the struggling restaurant chain has done a “very strong job” managing labor in a tough sales backdrop, it will have trouble […]
Dorsey’s Duo Not So Bad
Twitter (TWTR) CEO Jack Dorsey takes a lot of heat for the company’s weak performance, especially since he’s juggling the running of two multi-billion dollar companies at the same time. Along with running Twitter, Dorsey is the CEO of Square (SQ) as well. But you don’t hear people talk about how well Square is doing […]
United Airlines Flat After Earnings Beat
CNBC’s Phil LeBeau reports on the quarterly earnings for United Airlines.
Market Talk – Wednesday, October 18
Even though we saw yet another strong day for US markets, for Asia it was more steady as she goes rather than running away with itself. With the Chinese Party conference just underway, many will be looking for headlines to set the next stage of the markets. The currency will set the agenda with stocks […]
Internal Rotation For Equities And A VXX Play
(Audio length 00:09:46) With Amazon and Apple down today and the market up this is a good example of internal rotation in the markets. Rick Ackerman provides his thoughts on why this rotation continues. We also relate the ultra-low volatility and Rick shares a trade in the VXX that he is watching.
Stocks And Precious Metals Charts – Lofty Valuations – Stock Option Expiration On Friday
There will be a stock options expiration for October on this Friday. The touts are talking up stocks this week. I’ll take that as a good sign to take profits out of equities if you have them. We are nearing what is likely to be at least a short term top. The bullish argument is […]
