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  • Finance 0

    Growth Alert: New Home Sales Hit 10-year High

    Sales of new single-family homes surprised economists in October to the upside. Sales rose last month hitting their highest level in 10 years amid robust demand across the country. The Commerce Department said new home sales increased by 6.2 percent to a seasonally adjusted annual rate of 685,000 units. That was the highest level since October 2007 and followed September’s strong 645,000 units. It was the third straight month of rising new home sales growth showing the strength underpinning the US economy. The housing market has been strong for much of this year, amid shortages of homes available for sale, skilled labor and suitable lan...
    On November 29, 2017 / By
  • Finance 0

    Second Estimate 3Q2017 GDP Growth Improves To 3.3 %

    The headline second estimate of third quarter 2017 Real Gross Domestic Product (GDP) was increased to a positive 3.3 % from the advance estimate’s 3.0 %. Year-over-year growth was unchanged from the advance estimate. Analyst Opinion of GDP The consumer spending declined, but the real improvement came from fixed investment. I am not a fan of quarter-over-quarter exaggerated method of measuring GDP – but my year-over-year preferred method showed moderate acceleration from last quarter. The market expected: Seasonally Adjusted Quarter-over-Quarter Change at annual rate Consensus Range Consensus Advance Actual Second Actual Third Ac...
    On November 29, 2017 / By
  • Finance 0

    Q3 GDP Revised Up To 3.3%, Highest In 3 Years

    After the BEA estimated that US GDP rose an already impressive 3.0% in Q3, moments ago the Department of Commerce revised its estimate for third-quarter growth to 3.3% annualized, higher than the 3.2% print expected, the highest since the third quarter of 2014. On a Y/Y basis, GDP rose by 2.3%, the highest since Q3 2015: The increase in real GDP reflected increases in consumer spending, inventory investment, business investment, and exports. A notable offset to these increases was a decrease in housing investment. Imports, which are a subtraction from GDP, decreased. The increase in consumer spending reflected increases in spending on both g...
    On November 29, 2017 / By
  • Finance 0

    German Inflation Beats Expectations With 1.8% Y/y – EUR/USD Ignores

    A better than expected inflation read from Germany: annual inflation is now 1.8%, a jump from 1.5% in October. Month over month, prices are up 0.3%. We have the same numbers in both the national and HICP measures. EUR/USD is not really enjoying it, extending the slide and reaching 1.1835. Germany was expected to report a rise in the HICP from 1.5% in October to 1.7% in the preliminary read for November. Month over month, an increase of 0.3% was predicted after 0% beforehand. HICP is the European standard. The national figure was also predicted to increase to 1.7% y/y and by 0.2% m/m. EUR/USD stabilized around 1.1850 ahead of the publication....
    On November 29, 2017 / By
  • Finance 0

    Bull Of The Day: Analog Devices (ADI) – Wednesday, Nov. 29

    Video length: 00:00:35 Founded in 1965 and headquartered in Norwood, Massachusetts, Analog Devices (ADI) is an original equipment manufacturer of semiconductor devices, specifically, analog, mixed signal and digital signal processing (DSP) integrated circuits. The company’s products include data converters, amplifiers and linear products, radio frequency integrated circuits, power management products, and sensors and processing products. Solid Quarterly Results and Upgraded Guidance The chipmaker reported excellent results for its Q4 ended October 28, beating our estimates on both the top and bottom lines. Adjusted earnings of $1.45 per s...
    On November 29, 2017 / By
  • Finance 0

    USD/JPY Higher Despite NK Missile Launch

    The US Dollar was steady versus the Japanese Yen, receiving support from the latest economic data out of the United States which was unexpectedly upbeat. The Dollar was also resilient in spite of the latest war mongering efforts from North Korea who launched yet another rocket test near Japan. Analysts say that market players are still waiting to see what the US government’s response to the launch will be before they take action on the greenback. Relief over Trump’s tax reform bill making it through committee also helped to brighten sentiment for the greenback. As reported at 11:09 am (GMT) in London, the USD/JPY was trading higher at 11...
    On November 29, 2017 / By
  • Finance 0

    Allergan Upgraded To Overweight Amid ‘Overdone’ Botox Fears At Morgan Stanley

    As previously reported, Morgan Stanley analyst David Risinger upgraded Allergan (AGN) to Overweight from Equal Weight, saying that fears about a “better Botox” from Revance (RVNC) may be overdone. Noting that data about Revance’s botulinum toxin RT002 Phase 3 trial is expected “any day now,” Risinger said he thinks it could be difficult for Revance to demonstrate that RT002 is materially longer-lasting than Botox. While Risinger noted he is not predicting near-term major positive catalysts for Allergan, he thinks that the negatives have largely been priced in as the stock has pulled back 33% since July. The analy...
    On November 29, 2017 / By
  • Finance 0

    Own Gold Bullion To “Support National Security” – Russian Central Bank

    Last week Russia’s Central Bank First Deputy Governor Sergei Shvetsov said Russians own gold bullion and their central bank is adding to its gold reserves in order to “beef up national security.” Yesterday, the Russian Finance Minister Anton Siluanov warned Washington yesterday: “If our gold and currency reserves can be arrested, even if such a thought exists, it would be financial terrorism.” Russia is prepared for the possible toughening of US sanctions. However, if they include the seizure of Russia’s foreign exchange reserves, it would be regarded as a “declaration of a financial war,” the Russian finance minister war...
    On November 29, 2017 / By
  • Finance 0

    How Sweet It Is

    OPEC and Non-OPEC sources announced that they have agreed to extend production cut until the end of 2018, but will review the situation in June to make sure that the cuts are not causing larger problems for the Cartel. Worries ranging from them not doing enough or doing too much that will allow shale oil production to flourish and take market share. OPEC is looking for a sweet spot that may not exist as global oil demand has helped OPEC and Non-OPEC start a global oil market tightening that may be out of their control. When OPEC and Russia started on this oil cut journey last December, the market tried to laugh it off. Many thought the deal w...
    On November 29, 2017 / By
  • Finance 0

    S&P 500 And Nasdaq 100 Forecast – Wednesday, Nov. 29

    S&P 500 The S&P 500 rallied during the day on Tuesday, breaking well above the 2625 level, as the tax reform bill that the Republicans have been working on passed the Senate committee. This of course is a good sign for the potential of tax reform, and that should send the stock market higher. At this point, I believe that the 2600 level is a bit of a floor, and that if we pull back towards that area, there should be plenty of support. Of course, there’s always the concern about being overbought, which I think you can say we have been for quite some time. However, algorithmic trading continues to come back into the marketplace and pi...
    On November 29, 2017 / By