Category Archive: Finance
Morning Call For May 12, 2015
OVERNIGHT MARKETS AND NEWS June E-mini S&Ps (ESM15 -0.83%) this morning are down -0.70% and European stocks are down -1.82% as a rout in global government bond markets undercuts equity prices. Stocks bounced from their worst levels on increased M&A activity after Verizon said it will buy AOL for $4.4 billion. The 10-year German bund yield jumped 10 bp to […]
The Fed’s Labor Market Conditions Index Close To 3-Year Low
US payrolls bounced back in April, rising a solid 223,000 after March’s dismal gain of just 85,000. The news cheered the crowd and renewed faith in the case for macro optimism. But if the second-quarter is on the path of recovery after a rough winter, it’s not obvious in the Federal Reserve’s 19-factor Labor Market Conditions […]
Analysts Are Positive On Intercept Pharmaceuticals, Inc. Following Quarterly Earnings And Pipeline Update
On May 11, Intercept Pharmaceuticals (NASDAQ: ICPT) reported first quarter earnings for 2015. The biopharmaceutical company does not yet have any approved products in its portfolio but is working on gaining approval for its lead candidate, OCA. Highlights from the company’s quarterly report included a net loss of $39.4 million, or a loss of $(1.78) per […]
Goldman Prepares For Grand Entry Into The ETF World
The ETF industry has been taking giant strides since last year with many issuers launching products with varied themes, while several others making inroads into the field. And if 2014 turned out a historic year for the ETF industry with assets hitting the $2 trillion (approximately) mark and over 180 ETFs being rolled out, 2015 […]
Picasso Painting Sells For Record $180 Million In Christie’s Auction
If the Fed’s bubble busting team led by Stanley Fischer was looking for runaway inflation, it could have easily found it earlier today without any particular effort, only not in the usual CPI place, but in the price of Women of Algiers (Version O), a “vibrant, multi-hued painting” from Pablo Picasso which moments ago became the […]
EUR/USD Forex Signal For May 12, 2015
EUR/USD Signal Update Yesterday’s signals expired without being triggered. Today’s EUR/USD Signals Risk 0.75% Trades may only be made between 8am and 5pm London time today only. Long Trade 1 Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1072. Place the stop loss 1 pip […]
Arena Pharmaceuticals 1Q Loss Narrower-Than-Expected
Arena Pharmaceuticals, Inc. (ARNA – Analyst Report) reported a first-quarter 2015 loss of 10 cents per share, narrower than the Zacks Consensus Estimate of a loss of 14 cents and the year-ago loss of 12 cents. Total revenues increased 79.9% year over year to $12.3 million, surpassing the Zacks Consensus Estimate of $10 million. Reported quarter revenues include […]
US Dollar Falls As Bond Sell-Off Continues
The unwinding of the long bonds/long US dollar position is continuing this week after it appeared to have reached climactic proportions last week. Eurozone benchmark 10-year yields are 11-12 bp higher today. Gilt yields are up almost as much. Despite some encouraging signs from the Eurogroup meeting yesterday, 10-year Greek yields are up 15 bp. US […]
Household Spending Growth Expectations Plunge; Recession Already Started?
Every month the Fed does a Survey of Consumer Expectations for inflation, earnings growth, income growth, and consumer spending growth. In the microeconomic data overview, the Fed provided charts for the first three sets of expectations. I downloaded the data and created my own chart of spending expectations. First let’s consider some details from the report. Emphasis […]
China Could Hold Oil Market To Ransom, Tops US As World’s Largest Importer
For the first time in history, China overtook the US as the world’s biggest importer of crude oil in April, as The FT reports, representing the culmination of a seismic shift in global energy flows over the past decade. The jump in China imports last month was partly down to higher shipments from Iran, who “may be offering […]
