Some Further (Minor) Thoughts On The Phillips Curve
Before I begin, let me say that if you haven’t read yesterday’s article, please do because it represents the important argument: the Phillips Curve doesn’t need rehabilitating because it is working fine. In fact, I would argue that the Phillips Curve – relating wages to unemployment – is a remarkably accurate economic model prediction. The key chart from that article […]
Bull Of The Day: Texas Instruments (TXN)
Headquartered in Dallas, Texas, Texas Instruments (TXN – Free Report) is a global semiconductor company and an original equipment manufacturer of analog, mixed signal and digital signal processing (DSP) integrated circuits. Their chips are used in everything from mobile phones to industrial equipment and many smart products. The company has about 30,000 employees in more than 30 countries and […]
USD/CAD Runs Into Multi-Year Trend-Line Ahead Of Bank Of Canada
Today brings a widely-watched Bank of Canada rate decision, in which there is a legitimate chance of getting another rate hike after the BoC’s move in July. That rate hike in July was the first in seven years, and already markets have built-in the heavy expectation for another. If the BoC doesn’t hike today, October […]
“We’re Now Seeing Bubbles Everywhere” – Deutsche Bank Boss Urges End To “Era Of Cheap Money”
The head of Germany’s largest commercial bank warned of the fallout from cheap money, cautioning against using the strong euro as a justification for printing more. Bloomberg reports that the Deutsche Bank Chief Executive Officer John Cryan called for an end to the era of cheap money in Europe, saying that the prolonged period of rock-bottom interest rates is starting […]
Overall Breadth Neutral; Financials Sink
Entering today, 49.6% of stocks in the S&P 500 were above their 50-day moving averages. Below is a chart highlighting this breadth reading over the last year. As you can see, this indicator has put in a series of lower highs as the year has progressed, which indicates that a smaller and smaller number of […]
Small Cap Channel Broken
So……..is that it? Is the all-clear siren wailing? Has the third missile scare come and gone without a trace? Figures. Anyway, I’m typing this before the open, and it’s dullsville again. Equity markets are somewhat positive, and crude continues to have the jitters as Irma roars through the Caribbean. My main focus is on the […]
Morning Call For Wednesday, Sept. 6
OVERNIGHT MARKETS AND NEWS Sep E-mini S&Ps (ESU17 +0.04%) this morning are little changed, down -0.03% as a Category 5 Hurricane Irma races through the Caribbean toward Florida. European stocks are down -0.16% at a 1-week low after German Jul factory orders unexpectedly declined. North Korean tensions continue to simmer with a lack of consensus […]
Goldman: Expect S&P To Fall To 2,400 By Year-End
Ok, Goldman is out on Wednesday with a visual update on their outlook for stocks and it comes complete with their breakdown of the “phases” the rally has gone through on the way to record highs. This is always amusing because depending on the timestamp you choose for the start of the second “phase” (or […]
EUR/USD And GBP/USD Forecast – Wednesday, Sept. 6
EUR/USD The EUR/USD pair went back and forth during the day on Tuesday, as we continue to try to grind higher. However, the 1.20 level above continues to be major resistance, so I think we are going to continue to see sellers in that general vicinity, but I think in the meantime we will probably […]
North Korea Nuclear Test Poses Little Threat To Indices Rally
Geopolitical tensions intensified after North Korea conducted its sixth and most powerful nuclear test on Sunday, detonating what it said was a hydrogen bomb meant for an intercontinental ballistic missile. The United States warned it could launch a “massive” military response if it or its allies were threatened. Most of the Stock Markets in the […]
