Yellen Testimony Sparks Fresh Rally In Global Stocks
Following testimony by Federal Reserve Chairwoman Janet Yellen, Wall Street and European stocks surged last week, as investors weighed her dovish commentary. The week also saw an interest rate hike by the Bank of Canada (BOC) and mixed U.S. data releases. Yellen Testimony Dovish U.S. stocks logged multiple record highs after Yellen testified before both […]
Asian Stocks Soar To 9-Year High: ‘The Bar Has Reopened And People Are Getting Drunk’
Well, Chinese stocks may have been in a veritable free fall on Monday, but a combination of upbeat Chinese econ and downbeat US econ had other regional shares on the rise as investors bet on a slowing pace of policy normalization in the US. Japan was closed, but the MSCI Asia Pacific Index hit a goddamn nine-year high […]
Monday’s Missing Market Mechanism – Infrastructure
I’m back! In my quest to better understand the Global economy (and it’s affect on teens), I dragged my family off to France and the UK for the past two weeks and tested the effects of Socialism on two girls who were raised in an entirely Capitalist system. While we’re still tabulating the data, certain trends […]
History Of The Individual Retirement Arrangement
Note: it’s interesting to learn about IRA history in order to better understand why some provisions are the way they are. This IRA history is updated occasionally as new provisions are added. In 1974, Congress passed the Employee Retirement Income Security Act (ERISA) that, among many other provisions, provided for the implementation of the Individual […]
Blue Apron Battered Down 40% From IPO-Day As Amazon Files Meal-Kit Trademark
Who could have seen this coming? The latest hot tech IPO just went from bad to worse to worse as Blue Apron (APRN) tumbled over 10% in the pre-market (down over 40% from its IPO-day highs) after Amazon filed a trademark for a meal-kit service. As MarketWatch’s Tonya Garcia notes, the filing has the word […]
July 2017 Empire State Manufacturing Index Declined
The Empire State Manufacturing Survey declined but remains in positive territory. Important internals likewise declined. Analyst Opinion of Empire State Manufacturing Survey I am not a fan of surveys – and this survey jumps around erratically. Expectations from Bloomberg / Econoday were for a reading between 10.0 to 18.3 (consensus +15.0) versus the 9.8 reported. […]
XPO Logistics Plans To Sell 11M Shares In Public Offering
XPO Logistics announced that it plans to make an offering of 11M shares of its common stock in a registered underwritten offering. XPO expects to grant the underwriters a 30-day option to purchase up to 1.65M additional shares. Morgan Stanley and J.P. Morgan are the joint book-running managers for the offering. XPO expects to enter […]
Brace Yourself For Apple’s Extraordinary Capital Return Program
There are two ways that corporations can return capital to shareholders: Dividends Share Repurchases Adding these two capital return methods together on a per-share basis and dividing by a company’s current stock price gives shareholder yield, a proxy for the ‘shareholder-friendliness‘ of a company’s management team. Dividend payments are straightforward and well understood by most […]
Chinese Small Caps Plunge – The Writing Was On The Wall Last Week, Folks
File this away for posterity, because we might be referring to it later on down the road. That’s what we said exactly a week ago about the ChiNext, which last Monday fell nearly 2% on jitters about more IPO approvals and valuations that are, on average, hovering around 40X. The malaise continued throughout the week, as did our coverage. […]
Empire State Manufacturing Survey: Activity Grew Modestly In July
This morning we got the latest Empire State Manufacturing Survey, which fell from the previous month. The diffusion index for General Business Conditions at 9.8 was a decrease of 10.0 from the previous month’s 19.8. The Investing.com forecast was for a reading of 15.0. The Empire State Manufacturing Index rates the relative level of general business conditions in […]
