E The Daily Shot And Data – March 15, 2016
Let’s start with emerging markets where we want to cover a number of developments. 1. Egypt, running low on dollars, devalued its currency sending the Egyptian pound down some 14% (chart shows the number of pounds one dollar buys). Source: Investing.com 2. India’s CPI seems to have stabilized (below consensus). Given the weakness in the nation’s […]
March 2016 Empire State Manufacturing Index Climbs Into Expansion
The Empire State Manufacturing Survey improved and is now showing its first positive reading since July of last year. Expectations were for a reading between -15.00 to -7.00 (consensus -11.25) versus the 0.6 reported. Any value above zero shows expansion for the New York area manufacturers. New orders subindex of the Empire State Manufacturing Survey […]
Gold – Dangerous Reversal Pattern At Channel Resistance Last Week
Gold has rallied over the past couple of months, taking it to the mid-range of a 5-year falling channel at (1) above. This chart is a weekly chart and last week while hitting resistance, Gold might have created a potential “Doji Star” reversal pattern, at (1) above. This pattern took place, with momentum at levels […]
4 Top-Rated Small-Cap Blend Mutual Funds To Invest In
Investors looking to invest in a portfolio that provides significant exposure to both value and growth stocks, and wanting to diversify their investments across a wide range of sectors and companies, may consider small-cap blend mutual funds. Blend funds or “hybrid funds” owe their origin to a graphical representation of a fund’s equity style box […]
When Ackman Gets A Valeant Margin Call Today, This Is What He Will Be Selling
With Valeant in free-fall this morning, collapsing well over 20% after surprising Wall Street with the magnitude of its guidance cut and its simply atrocious results now that the rollup strategy has well and truly blown up, we thought it worth revisiting just what else Bill Ackman will have left to liquidate to meet margin calls […]
US Retail Spending Dips In Feb As Annual Growth Inches Higher
Retail sales eased 0.1% in February and a previously reported gain for January was revised down to a 0.4% loss, according to this morning’s update from the Census Bureau. Is the slide a sign of trouble for the consumer sector? Maybe, although looking through the short-term noise via the year-over-year trend still looks encouraging. Retail spending actually […]
E Oil Prices Hitting Their Stride? Maybe Not
Crude oil prices seemed to have been faring well over the last month, with Brent Crude rising from around $32 a barrel to more than $40 a barrel and West Texas Intermediate going from $29 a barrel to $38.50 a barrel. On Monday, however, U.S. oil prices slid 3% as the old uncertainty over the […]
Before The FOMC, Another Look At The ECB’s Actions
The market’s focus has shifted to the two-day FOMC meeting that begins today. The Federal Reserve should be pleased with recent developments. Labor market slack continues to be absorbed. Core inflation measures continue to edge higher. Market-based measures of inflation expectations have risen,and the 10-year breakeven is a little above levels that prevailed before the December FOMC meeting. The […]
Retail Sales: February Sales Show Renewed Weakness
The Census Bureau’s Advance Retail Sales Report released this morning shows that seasonally adjusted sales in February contracted month-over-month and the previous month was revised downward. Headline sales decreased 0.1% MoM, which was less then the -0.2% Investing.com forecast, but January was revised downward rather dramatically from 0.2% to -0.4%. Headline sales are up 3.4% year-over-year. Core […]
