Staples, Inc. Q4 Revenue Badly Misses, But 2017 Outlook Meets Expectations
Staples, Inc. (SPLS) early Thursday posted mixed fourth quarter earnings results and offered an in-line outlook for 2017, as it makes progress in its delivery business but continues to struggle on the brick-and-mortar side.
Dollar Steady Ahead Of ECB, Oil Drops 5%
Today’s main event is the ECB meeting and press conference the European Central Bank is not expected to change its rate policy even though inflation has hit the 2% target for the first time since 2013 as uncertainties over the Euro area such as elections in France, Holland and Germany are likely to keep the […]
Above The 40 – A Quiet Pre-Fed Breakdown For The Stock Market
AT40 = 43.3% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 60.5% of stocks are trading above their respective 200DMAsVIX = 11.9 (volatility index)Short-term Trading Call: neutral Commentary Times like these really put AT40 (T2108), the percentage of stocks trading above their respective 40-day moving averages (DMAs), to test. The stock market’s underpinnings continued […]
ECB Leaves Rates Unchanged – On To The Draghi Drag
The European Central Bank left its interest rates unchanged as expected. The main lending rate stands at 0% and the deposit rate at -0.40%. The QE program continues as planned: 80€ billion / per month through this month and 60€ billion per month from April and until the end of the year. The focus now shifts […]
Bull Market Has More Room To Run
The bull market has a lot more room to run. With the Trump Administration and GOP Congress deconstructing investment-killing business regulations and aiming to cut taxes, the economy is poised to grow faster, and new technologies will support higher valuations over the next several years Supporting prospects for bigger profits, the energy and manufacturing sectors […]
Preview For ECB Rate Decision And Setups In EUR-Crosses
Video length: 00:08:01 While the ECB will be released new staff economic projections (SEPs) due on Thursday, the scope for the ECB to act at this meeting, one way or the other, seems very limited. Primarily, this is due to upcoming political risk, with Dutch elections next Wednesday, and French presidential elections in April and […]
EC Is A Rate Hike Certain After ADP’s Strong US Employment Report?
There are no guarantees when predicting Federal Reserve monetary policy decisions. But yesterday’s surprisingly strong increase in US private payrolls in February by ADP’s reckoning gives the hawks a potent new data point to make the case for squeezing monetary policy at next week’s FOMC meeting. A quick review of Wednesday’s news: the crowd was looking for […]
USD/JPY Higher After Upbeat Labor Data
The USD/JPY struck a 3-week peak and the greenback is poised to record a 4th consecutive day of gains after ADP data released yesterday beat all expectations. Often viewed as a “gauge” for Friday’s critical non-farms labor report, yesterday’s release showed that 298,000 new private sector jobs were added to the US economy, against expectations […]
Crude Plunges Below $49, Dragging Markets Lower; All Eyes On Draghi
While traders will be focused on the ECB, and Mario Draghi, early Thursday, it is unlikely that the European central bank will announce anything overly dramatic (see preview in a subsequent post), and instead the attention will be on the ECB’s inflation forecast for hints of when the ECB may accelerate tapering after its December […]
Pre-ECB Squaring Lifts Euro In A Strong USD Context
The euro tested the lower of its range near $1.05 in Asia before short covering in Europe lifted back toward yesterday’s highs near $1.0575. However, buoyed by the upside surprise in the ADP estimate of private sector jobs growth, the dollar is firmer against most other currencies today. The US 10-year yield is up 20 bp […]
