Needham Upgrades CVS To Buy Despite Potential Amazon Threat
Needham analyst Kevin Caliendo upgraded CVS Health (CVS) to Buy from Hold with a $79 price target. The healthcare company closed yesterday up 3c to $69.02. The stock’s risk/reward is favorable, especially if CVS is able to consummate the reported merger with Aetna (AET), Caliendo tells investors in a research note. The analyst puts […]
USD/CAD – Will Currency Bears Break Support Line?
In recent days, the greenback moved lower against its Canadian counterpart, which resulted in a decline to the lower border of the rising trend channel. Will this support line withstand the selling pressure in the coming days? EUR/USD From today’s point of view, we see that EUR/USD extended gains, which approached the exchange rate to […]
TGIF – Market’s First Red Week Since September Comes To A Close
A down week? What is that? Since when do markets go lower? Well, they don’t generally (anymore) and this market hasn’t had a down week since the first week of September, when the S&P was at 2,450 so it was a nice 150-point run (6.12%) before pulling back and the 5% Rule™ says we can expect a 30-point weak […]
Recent Market Breadth Is Concerning
(Audio length 00:10:39) Kicking off today with Dana Lyons and a focus on the breath of the US markets. Back in August Dana and I chatted about how breath was strong (a lot of stocks moving up together) but over the past couple weeks, we have seen again only a select number of stocks lead […]
Imagining Tax Debate Was In The Real World: Suppose Productivity Growth Is Already Up
The main claim of proponents of the Republican tax bill is that lowering corporate taxes will lead to a surge in corporate investment. This is supposed to lead to more rapid productivity growth and therefore higher wages. As those of us who are fond of data have pointed out, the world doesn’t seem to work […]
T-Note Yield – Friday, November 10
T-Note yields have broken first long-term downtrend and need another 15bps to break a second one. This will be bearish for T-Notes. Source: INVESTING.com
The Hidden Political Risks In The Australian Dollar
For Australian dollar speculators, assessments of political risk are usually limited to developments within the country. Last month, the stability of the ruling government was called into question after the deputy prime minister and four senators were disqualified from holding office due to maintaining dual citizenship. Following Deputy Prime Minister Barnaby Joyce’s disqualification, the government […]
The Saudi Solution
Risks of war may be on the rise after Saudi Arabia told all its citizens not to travel to Lebanon and urged those that are in the country to leave as soon as possible. The tensions are rising after the Lebanese Prime Minister Saad Hariri resigned in Saudi Arabia but is now currently missing and […]
Bitcoin Cash Spikes To Record High As Bitcoin Collapses Over $1000
Following the surge in Bitcoin’s USD price after the suspension of the SegWit2x hard fork, the cryptocurrency has collapsed as traders exit ‘fork dividend’ trades. Dennis Gartman had a few words of praise for the bulls right before the collapse… Well “bully” for Those Who’d Gotten It Right: Our “position” on Bitcoin and the other cryptos is clear: […]
Rail Week Ending November 4, 2017: Headline View In Contraction
Week 44 of 2017 shows same week total rail traffic (from same week one year ago) contracted according to the Association of American Railroads (AAR) traffic data. The economically intuitive sectors remain in expansion but growth slowed. Analyst Opinion of the Rail Data We review this data set to understand the economy. If coal and grain are […]
