Japan will remain the dominant theme in today’s session; this prompted a big sell-off in Japan that carried into Europe and will have a bearing on our markets today as well. With not much on the economic calendar and the Q3 earnings season slowly moving into the rearview mirror...
It's always a good idea to periodically take a look at what the foreign community is doing in terms of net US equity purchases. The reason lies in the fact that they tend to buy at tops and sell at bottoms and can serve as a contrary indicator...
The data on the U.S. unemployment rate have been getting progressively better over recent months, either because of or in spite of the government’s efforts, depending on one’s viewpoint. And if this week’s chart is to be believed, then the data should continue to get better over the next several months.
The positive Retail Sales report this morning has helped improve sentiment that was earlier showing a mixed picture due to the soft GDP read out of Europe. This morning’s economic readings spotlight the growth divergence between the U.S. and...
In response to "Brink" of a New Cold War? Another Cold War Already Started?, reader Ted informs me that former Secretary of State Henry Kissinger feels the same way about sanctions and the renewed cold war as I do.
The recent turbulence in the stock market is behind us and a rally is now underway. Given the fact that we have recently entered the most favourable 6-month period of the U.S. Presidential Cycle, it is our contention that Wall Street will advance quite sharply until spring.
Including this morning’s reports from Wal-Mart and Viacom, we now have Q3 results from 461 S&P 500 members or 91.8% of the index’s total membership. Total earnings for these 461 companies are up +6.9% from the same period last year, with 70.5% beating earnings estimates.
Large pools of capital, including central banks and sovereign wealth funds continue to buy French bonds, keeping yields near German levels. The logic is not so much about fair value based on economic fundamentals. Instead, it is a political judgment.
Gold’s time will come again, and so will silver’s. But I don’t think we’re there yet. If a bear market has three phases, I’d say we’re in the final phase – but the bear still has some biting to do. Time will tell if I’m right or not.
In May we started a recurring monthly review of all the main economic data. At the time, the consensus view was that growth in wages and employment were accelerating and that this would soon lead to a meaningful increase in inflation above the Fed's 2% target. So far, this has been wrong.