Is Allergan Stock Finally Going To Reward Shareholders?
Allergan Stock has been a painful ride for investors. Starting last year when the proposed merger with Pfizer fell through, Allergan (NYSE: AGN) stock has fallen. As of this writing, shares are trading at $186 and nearing their 52 week low. But the interesting thing about Allergan stock is that they have a lot going for it […]
The One Data You Should Follow To Know If The US Expansion Is In Good Shape
Since we experienced a severe economic trauma due to the subprime financial crisis, there has been an almost reflexive disbelief in the durability this economic expansion. There are times when I would count myself amongst the disbelievers. For example, during the shale oil bust, I worried that Fed rate hikes would be the straw that […]
Sensex Ends In Red On Diwali Day; Bank & Metal Stocks Fall
The hour-long auspicious Muhurat trading session ended on a weak note today. While the BSE Sensex closed lower by about 194 points, the NSE Nifty ended lower by about 64 points. Meanwhile, BSE Mid Cap ended lower by 0.3% and BSE Small Cap finished up by 0.1% respectively. Losses were largely seen in bank stocks, metal stocks and PSU stocks. Gold prices were trading down by Rs […]
Gold Prices Snap Bearish Sequence Ahead Of More Fed Rhetoric
Gold prices may continue to recoup the losses from earlier this week as the precious metal snaps the recent series of lower highs & lows. The recent price action boosts the near-term outlook for gold as the precious metal regains its footing ahead of the monthly-low ($1261), and bullion may continue to trade on a firmer […]
The Productivity Myth
Every now and then, there’s a rash of commentary on national productivity. And for the British, productivity is all part of the Brexit angst, with the OECD, the Treasury, the Bank of England and Remainers all saying the average Brit’s poor productivity just goes to show how much they need the certain comfort of being […]
Philly Fed Positive For 15th Straight Month
Manufacturing activity in the Philadelphia region continues to chug along as the Philadelphia Fed’s survey of manufacturing activity came in higher than expected for October rising to 27.9 compared to forecasts for a reading of 20. October’s reading represents the 15th straight month that manufacturing activity showed growth and is the strongest monthly reading since […]
The Crash Of 1987 — Happy 30th Anniversary
I was at the center of the October 19, 1987 stock market crash, when the U.S. equity market dropped 20% in a single day. The second chapter of my book, A Demon of Our Own Design recounts my experiences during the 1987 Crash and provides an explanation of what went wrong. The essence of the problem was […]
Interest Rates And The New Normal
from the San Francisco Fed — this post authored by John C. Williams The Federal Reserve is moving towards more normal monetary policy, which means rising interest rates. But factors including the real natural rate of interest, a slower sustainable pace of growth, and inflation all point to a new normal where interest rates are […]
If You Bought 30 Years Ago Today…
30 year ago today, traders were having a bad day: the Dow, S&P 500, FTSE, DAX and CAC fell -23%, -20%, -11%, -9% and -10% respectively. The FTSE fell a further 12% the day after, reflecting the difficulties in fully reopening the market after the great storm a few days before. The day would eventually become […]
Conference Board Leading Economic Index: First Decline In Over A Year
The latest Conference Board Leading Economic Index (LEI) for September decreased to 128.6 from 128.8 in August and saw its first decline in over a year, partially due to the impact of the hurricanes. The Coincident Economic Index (CEI) came in at 115.7, up fractionally from the previous month. The Conference Board LEI for the U.S. declined […]
