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...
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...
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.
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.
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...
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.
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.
The U.S. dollar is trading heavier against most of the major and emerging market currencies. The euro and sterling remain within the ranges seen before the weekend while the dollar slipped to JPY107 in a Tokyo-less Asian session.
I think it’s important to acknowledge that the economy is not stateless. A change in one variable—e.g. money supply—may have a different effect depending on the states of individual actors in the economy.
The damage done to the markets is far greater than what appears on the surface as major indices have only experienced mild pullbacks. However, looking at the average decline among thousands of stocks listed on U.S. exchanges and within large indices reveals a stealth bear market occurring.