Michael Pettis's picture

After last week’s tumultuous markets one of my clients sent me an email saying “I am so relieved your constant talk about worsening imbalances kept us from getting too complacent. Things really are as bad as you keep saying.”

Sheraz Mian's picture

Friday’s strong finish to last week’s extremely volatile session may not be the end of the market’s weak run. We must add, however, that this morning’s weak indicated open isn’t directly related to the issues that weighed on stocks last week.

Tom McClellan's picture

When the McClellan A-D Summation Index makes a big move in a short amount of time, that action contains important information. This week, I’ll show a pair of charts that help to make this point.

Sheraz Mian's picture

Stocks turned around Thursday afternoon to close the session modestly in the green and start today’s session on a very positive note. The favorable shift notwithstanding, market sentiment remains fragile and...

Doug Short's picture

When looking at the four big economic indicators used by NBER for timing recessions, it appears the economy may be nearing stall speed. Here is an update using the latest release of Industrial Production...

Jeff Rubin's picture

Part of the impetus behind constructing new pipelines to carry bitumen from northern Alberta to the U.S. Gulf Coast, Kitimat on the Pacific, or even all the way across the country to Saint John, New Brunswick was to help close the substantial discount between Canadian oil and world prices.

Sheraz Mian's picture

On the earnings docket this morning, we got blowout numbers from Goldman Sachs (GS) and very strong results from UnitedHealth (UNH), while Baker Hughes (BHI) and Mattel (MAT) came up short.

Robert Rapier's picture

There have been a lot of stories over the past few years about the implications of the U.S. shale boom. To review for those who might have been living in a cave for the past 5 years, the marriage of horizontal drilling and hydraulic fracturing (fracking) has...

Sheraz Mian's picture

A favorable start to the bank sector results should help stocks overcome global growth fears, at least for today. Banks’ domestic orientation limits the significance of their results to the ongoing growth worries, but their positive results are nevertheless welcome.

Jeffrey D Saut's picture

In this business it has been said, “Sometimes knowing the right question is more important than actually knowing the answer.” Over the years I have found that old Wall Street axiom to serve me well.