Moody’s: Massive Population Outflow Will Hit Puerto Rico’s Recovery
Burdened by $120 billion in combined bond and pension debt, Puerto Rico filed the most significant US municipal bankruptcy in history last May. Following this collapse, the region’s finances are now under the management of a seven-member board appointed by federal lawmakers, who are trying to engineer Puerto Rico’s Recovery. A blueprint for the region’s turnaround was expected […]
Stocks Slammed As VIX Spikes To 1-Month High
The Dow has tumbled back below 26,000 and all major US equity markets are stumbling notably after their exuberant open as VIX extends its pre-market ramp above 11 to its highest in 5 weeks… VIX topped 11… And US equity futures are quickly giving back the long-weekend’s gains… Notably, Morgan Stanley points oiut that over the […]
AveXis Announces Proposed Public Offering Of Common Stock
CHICAGO, Jan. 16, 2018 (GLOBE NEWSWIRE) — AveXis, Inc. (Nasdaq:AVXS) today announced that it intends to offer and sell, subject to market conditions, up to $400 million of shares of its common stock in an underwritten public offering. The offering is subject to market and other conditions, and there can be no assurance as to […]
U.S. Dollar Rebounds As EUR/USD, GBP/USD Seek Out Higher-Low
U.S. Dollar weakness has priced-in with a vengeance over the past week. It was just last Tuesday that we were looking at the Greenback moving up to test a key area of resistance around 92.60, which was the December swing-low that later showed-up as resistance. But, in the week since, the Dollar has put in […]
Major UK Construction Business Fails
Despite crisis talks with government over the weekend, a major UK-based construction concern, Carrilion, has ceased trading with outstanding debts estimated to be £1.5 billion. The company is the second largest UK-based construction company with 20000 UK employees and a global workforce of 43000. Carillion has been heavily involved in so-called PPPs, Public Private Partnerships, […]
January 2018 Empire State Manufacturing Index Little Changed
The Empire State Manufacturing Survey insignificantly declined but remains strongly in expansion. It was at expectations. Important internals were positive. Analyst Opinion of Empire State Manufacturing Survey I am not a fan of surveys – and this survey jumps around erratically – but has been relatively steady for the last year. Expectations from Bloomberg / […]
Merck & Co. Inc Shares Fly High On Positive Lung Cancer Trial
Merck & Co (NYSE: MRK) On Tuesday before the market opened, shares of Merck & Co ($MRK) were gapping up on news of positive results from their lung cancer trial. Merck’s lung cancer treatment, Ketruda, performed better than expected in a late-stage, Phase 3 trial which has “significantly improved overall survival and progression-free survival”. This […]
4 Best Technology Stocks For Growth Investors Right Now
The year 2017 was a blockbuster for investors as all the three major indices indicating the health of the U.S. market closed at record levels. An improved economic data for GDP, steady job additions, a favorable Consumer Confidence Index, as well as factory activity data, kept investors optimistic about the economy. Technology Sector in Particular […]
Does CoT Show Battle Over Gold?
The Commodity Futures Trading Commission has released the latest CoT report. What can we learn from it about the gold market? Light and Darkness in the Gold Market The epic battle between good and evil. The conflict between light and darkness. We and them. This is how some analysts portray the Commitments of Traders report. […]
Technically Speaking: Have “Tax Cuts” Been “Priced In” Already?
“Did you hear the news that was driving the markets to new records this morning? No? Yeah, me either. But such is the nature of a speculative driven frenzy.” Since the markets were closed yesterday, there is nothing to update from this past weekend’s newsletter. While that missive was primarily directed at why “bond bears will […]
