Higher Housing Starts & Lower Industrial Output In February
This morning’s US economic updates on housing construction and industrial output—the final batch of numbers ahead of this afternoon’s monetary announcement from the Federal Reserve—delivered a mixed bag of macro news, albeit with a moderately positive spin. The main takeaway: industrial production is still contracting at the headline level but manufacturing is expanding at a faster rate. On […]
Bonds & Stocks Tumble As Core CPI Surges By Most Since October 2008
Following last month’s inflation ‘jolt’ to the marketplace, Core CPI increased 2.3% YoY in Feb – the biggest jump since October 2008 (led by the biggest monthly surge in apparel prices since 2009). Bond & Stock markets are dropping in the news as it corners the Fed further into a hawkish stance, despite the recessionary warning signals […]
Does Amazon Pose A Threat To FedEx’s Core Business?
Photo Credit: erikleenaars FedEx Corporation (FDX) Industrials – Air, Freight & Logistics | Reports March 16, After Market Closes In recent years, it has been unclear what to make of Fedex’s (FDX) earnings given its ups and downs. Last quarter, the global delivery service trounced expectations which only covered up that they’ve missed in 2 of the […]
Dollar Steady As Fed Looms
As FX traders await the upcoming Fed decision, momentum has driven the US Dollar broadly higher. The US Dollar Index, which traders use to assess the greenback’s relative strength, was nearly 0.3 higher, edging away from last week’s 1-month trough. In individual trading, the greenback appreciated against both the Euro and the Japanese Yen. Though […]
Hutchison China MediTech IPO: Consider A Modest Allocation
Hutchison China MediTech Limited (Pending:HCM) expects to raise $86 million in its upcoming IPO. Based in Hong Kong, Hutchison China MediTech is a biopharmaceutical that focuses on the discovery, development and commercialization of therapies for immunological and oncology diseases. We previewed HCM last week on our IPO Insights platform. HCM will offer 6.1 million shares at an expected […]
E Ten Reasons Why Stocks Bounced Back So Hard
While driving back from Lake Tahoe last weekend, I received a call from a dear friend who was in a very foul mood. Following the advice of another newsletter that I won’t mention, he bailed out of all his stocks at the February 11 bottom. After all, wasn’t the Dow Average headed straight to 3,000? […]
Deutsche Bank Tumbles After CEO Says Bank Won’t Be Profitable This Year
Back in January, Deutsche Bank (DB) reported what were variously described as “horrible,” “grim” results. The net loss for 2015 came in at roughly $7 billion, the first annual loss since the crisis. The abysmal year was capped off by €2.1 billion of red ink in Q4 of which some €1.2 billion was attributable to litigation. […]
The CAC 40 Continues Post ECB Consolidation
The CAC 40 is trading down a modest .27% on the day, as the Index continues to consolidate under Thursdays high at 4,582. Renault is currently leading the Index trading up 1.88% on the day. Technical traders should note that today’s price action marks the 4th day of trading inside of Thursday’s daily candle. Currently […]
The Central Bank Meeting And What It Means
The global equity markets are continuing with their cautious start to this week beginning on Monday, March 14th,2016. The week started with a somewhat pessimistic tone to the overall market environment spurred by a less dovish Bank of Japan comments. While the Central Bank did keep policy ‘unchanged’ as I expected. It removed previous language […]
Brexit, Cyprus And The EU Summit
The EU leaders summit on refugees begins tomorrow. A conclusive agreement will likely be elusive. There are three main obstacles. First, the effort to reinforce the external borders to allow free internal movement requires Turkey’s cooperation, but it won’t be represented.Second, that is important because Cyprus is demanding more concessions by Turkey. Third, others such as Spain,are concerned that the […]
