Category Archive: Finance, No picture
GM To Close 8 Plants, Lay Off Close To 15,000 Workers
Things are worse than widely thought in the auto industry. Today, GM provided the proof. GM will close 5 North America plants, another three elsewhere. GM claims it does not see a downturn but will Slash Nearly 15,000 Jobs anyway. Four factories in the U.S. and one in Canada could be shuttered by the end of 2019 […]
Want To See The Future Of Investment Advice? Visit Your Local Auto Parts Store
Old Big Red sprung a leak a while back. Many of you are familiar with Big Red, but there are a few of you who might need an introduction. Big Red is my 18-year-old Chevy Silverado 2500 HD. I realize this may not be the type of vehicle driven by the majority of bankers, money […]
Bitcoin Pattern Implies A Loss Of $3,000 On November 29th
Bitcoin is sliding once again after a failed attempt to recapture $4,000. Looking at the recent behavior BTC/USD, the next fall will be on Thursday, November 29th. Bitcoin made a recovery attempt following the news that the US state of Ohio will accept the digital currency in 23 different types of business taxes. This is a considerable mainstream […]
What Next For Crude Oil Ahead Of OPEC Meeting?
The price of crude oil has been in free fall since October. The price of Brent has dropped from a YTD high of $86 to a YTD low of $58.6. This decline has been caused by a number of factors. First, the impacts of Iran’s exit to the oil market have been limited. This is […]
US Dollar Clings Onto Gains At Start Of Key Week
The US Dollar (via the DXY Index) has started the week off on slightly firmer ground, up by less than +0.1% at the time this report was written. The return of liquidity to markets has produced cautious trading conditions as some of the pre-holiday week issues continue to linger: Brexit appears ready to go off […]
Morgan Stanley Breaks Consensus, Downgrades US Stocks To Sell
The decoupling is over for the US economy and its stock market according to Morgan Stanley which has long held a bearish outlook on the US, but overnight officially downgraded US stocks to “sell”, expecting the S&P to end 2019 at 2,750, while double upgrading emerging market to overweight. In a note released by Morgan Stanley […]
EUR/USD: 3 Storylines Driving Trade At The Start Of The Week
Risk assets are bouncing back after a rough holiday-shortened week in the US, with US stock indices gaining around 1% at the open to trade back at Wednesday’s levels. As my colleague Fawad Razaqzada chronicled earlier this morning, weekend progress on a Brexit deal has stabilized sentiment, though there are still plenty of hurdles to clear […]
Chicago Fed: Slight Growth In October
“Index points to a slight increase in economic growth in October.” This is the headline for this morning’s release of the Chicago Fed’s National Activity Index, and here is the opening paragraph from the report: “Led by improvements in employment-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.24 in October from +0.14 in […]
A Sensible Way To Fix The Student Loan Problem
Young People Have Too Much Debt and Not Enough Marketable Skills Ten years after the financial crisis, banks may be safer and the economy more resilient but many young people are saddled with huge student-loan balances. Too many are stuck in low-paying dead-end jobs, delaying marriage and children, and may never own a home. The […]
Oil Prices Bounce Back, GBP Up As EU Approves Brexit Deal – US Market Open
MARKET DEVELOPMENT – EUR FIRMS AS ITALY MULLS COMPROMISE, OIL BOUNCES EUR: The Euro is notably firmer with Italian bond yields dipping after reports that the Italian government are discussing reducing the 2019 deficit target to 2-2.1% from the current 2.4% target. This was also followed by comments from Salvini who added that Brussels provided a positive feedback over potentially lowering its […]
