Oil Prices Head Higher On OPEC Moves
OPEC’s move to limit Nigerian oil production combined with Saudi Arabia’s promise to limit exports in August sent oil prices higher on Tuesday morning. Nigeria had previously been exempt from OPEC’s production cuts that are currently in place until March 2018 due because it had been assumed that conflict in the region would limit output […]
EUR/USD Bounces At 1.1625 And Breaks Resistance Within Wave-3
EUR/USD 4 hour The EUR/USD is building a minor correction within the larger uptrend (blue line). A bullish continuation is likely to see price test the 1.1750 round resistance level. The momentum is part of a wave 3 (orange) which is part of larger wave 5 (purple) of wave 3 (green). 1 hour The EUR/USD […]
AUD/USD: A Correction Lower Is Overdue; Above 0.80 To Be Met With RBA Opposition – BTMU
The Australian dollar enjoyed the hawkish meeting minutes from the RBA. Attempts to dampen the expectations were not successful. What’s next? The big number can provide a trigger. Here is their view, courtesy of eFXnews: BTMU FX Strategy Research argues that AUD/USD looks over-extended based on policy expectations given there has been no sign of any change […]
E M&A Spotlight: Michael Kors Acquires Jimmy Choo
With the most recent M&A Activity, we have a partnership between Michael Kors (MIK) and Jimmy Choo. Both companies, who have had their fair share of respectable growth and dominance in the luxury retail / apparel space, have agreed to a deal where Michael Kors is purchasing Jimmy Choo for roughly $1.2 billion. Michael Kors, […]
Big Earnings Week
Podcast: Play in new window | Play in new window (Duration: 13:15 — 7.6MB) DOW – 66 = 21,513 SPX – 2 = 2469 NAS + 23 = 6410 RUT + 2 = 1438 10 Y + .02 = 2.25% OIL + .66 = 46.43 GOLD + .50 = 1256.00 BITCOIN – 0.40% = 2767.87 USD ETHEREUM – 0.66% […]
Gold Prices Shrug Off Upbeat US Data With FOMC In Focus
Gold prices stalled, shrugging off an encouraging set of July US PMI figures that showed nonfarm activity growth grew at the fastest pace in six months. The outcomes were apparently insufficient to inspire a rethink of the recent dovish turn in Fed rate hike expectations ahead of the FOMC policy announcement due later in the week. Consumer confidence data is on tap […]
Trick Question: How Is The Momentum Factor Performing YTD?
If you ask your typical long-only investor (or financial advisor) how momentum is doing this year they’ll likely say, “Amazing!” This statement will almost surely be based on the fact they own (or know about) the iShares “Momentum Factor” Fund (Ticker: MTUM). MTUM is on fire year to date (through 5/31/2017):(1) 17.42% based on market prices versus […]
Leading Indicators Not Suggesting Imminent Market Peak, Recession
Several skeptics responded to our piece last week looking at the yield curve as a leading indicator (see Yield Curve Not Suggesting Imminent Market Peak, Recession) by saying that the yield curve is no longer reliable because of the Fed’s distortions on the market. This was essentially the same view given by Bill Gross in his July […]
Alphabet Q2 Earnings In-Depth: Cost-Per-Click Down 23%
Alphabet Inc. (GOOGL – Free Report) reported its second-quarter earnings after the closing bell on Monday. The internet powerhouse posted strong revenue numbers, while profits dipped thanks to a massive EU fine. Shares of Alphabet fell 3.01% in after-hours trading to $969.83 after it reported its second-quarter earnings. Alphabet is currently a Zacks Rank #3 (Hold) and […]
Lennox International Inc. Reports New All-Time Highs For Revenue, Total Segment Margin & Profit In Q2
Lennox International Inc. (LII), a global leader in the heating, air conditioning, and refrigeration markets, today reported that revenue for the second quarter was up 8% to a record $1.102 billion FINANCIAL HIGHLIGHTS Revenue: UP 8% to $1.102 billion Gross Profit: UP 8% to $341 million, up 8% Gross margin: Flat at 30.9% Income from […]
