Kotlikoff: America In Worse Financial Shape Than Russia Or China
America’s 2017 fiscal gap will come in near $6 trillion, nine times higher than the $666 billion deficit announced by the US Department of the Treasury week, says Laurence Kotlikoff, an economics professor at Boston University. “Our country is broke,” says Kotlikoff, who estimates total US government debts at more than $200 trillion, when unfunded liabilities are […]
Advanced Micro Devices, Inc. Q3 2017 Earnings Beat
AMD Q3 2017 earnings were released after closing bell tonight, and the company posted adjusted earnings of 10 cents per share on $1.64 billion in revenue. Analysts had been expecting earnings of 8 cents per share on $1.5 billion in revenue. In last year’s third quarter, the chip maker reported earnings of 3 cents per share on an […]
AT&T Misses On Earnings Expectations
CNBC’s Julia Boorstin reports on the quarterly earnings report for AT&T.
World Markets Update – Tuesday, October 24
All eight indexes on our world watch list have posted gains for 2017 through October 23. The top performer thus far is Hong Kong’s Hang Seng with a gain of 28.66%, followed by India’s BSE SENSEX at 21.79%. In third is our own S&P 500 with 14.57%. The Last Four Weeks The tables below provide […]
Big Earnings Week Ahead For Tech
Q3 Earnings Look Great So Far This is the first week where earnings summaries include a significant portion of reports from Q3. As of the end of last week, 17% of S&P 500 firms reported earnings. According to S&P Dow Jones, the insurance firms’ hurricane weakness caused Q3 financial sector earnings to fall from $7.04 […]
This Bubble Gets Its “Alternative Paradigm”
Towards the end of financial bubbles, asset prices behave in ways that can’t be explained with rational/historical metrics. So new ones are invented to make sense of things. In the 1990s tech stock bubble, earnings were “optional” and “eyeballs” – that is, the number of visitors to a dot-com’s website – were what determined value. […]
Chipotle Mexican Grill, Inc. 3Q17 Earnings Miss Sends Stock Diving
Chipotle Mexican Grill (CMG) 3Q17 earnings were released after closing bell, and the company reported non-GAAP earnings of $1.33 per share on $1.13 billion in revenue. Wall Street had been expecting earnings of $1.63 per share on $1.14 billion in sales. In last year’s third quarter, the fast-casual dining chain reported earnings of 79 cents […]
Markit Composite PMI: Yet Another Diffusion Index Incorrectly Showing Strength
The Markit USA flash (preliminary) composite PMI shows strength this month as have other diffusion index reports including ISM and the Fed regional reports. Delivery delays contributed to manufacturing strength. Those delays are a hurricane impact as are reports of hiring. The Markit Composite PMI came in at 55.7 ahead of the Econoday consensus estimate of 55.7. […]
Stocks And Precious Metals Charts – As Greed Turns Slowly To Fear
“Every single empire in its official discourse has said that it is not like all the others, that its circumstances are special, that it has a mission to enlighten, civilize, bring order and democracy, and that it uses force only as a last resort. And, sadder still, there always is a chorus of willing intellectuals […]
Fryer-flation
We sometimes like to look at the lighter side of capital markets. Or, in this case, the crispier, more tender side. Since the end of 1997, the CPI index for chicken is up about 50%. That may sound like a lot, but it’s actually right in-line with 2% inflation the Fed targets (of course, they target core […]
