Latest Posts

  • Finance 0

    Stocks Surge To More Record Highs But Taylor Chatter Spooks Bonds, Dollar, & Gold

    Another day, another record high… Video length: 00:00:02   To begin – ‘Murica, fuck yeah!! North Korea headlines and ‘John Taylor For Fed Head’ headlines prompted some turmoil in FX markets, bond markets, and commodity markets… but stocks didn’t even blink… Trannies were worst with Small Caps clinging to unch but GS, AAPL, JPM, and TRV accounted for 100% of the points gains in The Dow… The machines really wanted Dow 23,000 amid a very chaotic day in VIX land today… Small Caps continue to tread water… (1509, 1511, 1508, 1512, 1510, 1504, 1508, 1507, 1505, 1503, 1502) even as ea...
    On October 16, 2017 / By
  • Finance 0

    Oasis Petroleum Inc., Ensco Plc: Eyes On Oil As Saudi Arabia Purportedly Considering Alternatives To IPO For Saudi Aramco

    The crude markets and oil stocks such as Oasis Petroleum Inc. (NYSE: OAS), ENSCO PLC (NYSE: ESV), and Transocean LTD (NYSE: RIG) are rather quiet despite the recent news from the Financial Times. In an article entitled, ‘Saudi Aramco considers shelving international IPO’, the Financial Times reports that the Saudi’s, long regarded as the central bank of oil, are considering selling private shares of its crown jewel to various governments rather than doing a public offering. Aramco is even bigger than any of the biggest private companies in the world. Needless to say, part of the reason for the Saudi government to consider a...
    On October 16, 2017 / By
  • Finance 0

    Netflix, Inc. 3Q 17 Earnings Send Shares Higher After Hours

    Netflix 3Q 17 earnings were released after closing bell tonight, and the company reported earnings of 29 cents per share on $2.985 billion in revenue. Analysts had been expecting earnings of 32 cents per share on $2.97 billion in revenue. In the year-ago quarter, Netflix posted 12 cents per share in earnings on $2.29 billion in revenue. jgryntysz / Pixabay Streaming revenue rose 33$ to $2.875 billion from $2.158 billion a year ago. Netflix’s streaming obligations rose to $17 billion from $14.4 billion in the year-ago quarter and $15.7 billion in the previous quarter. The company added 5.3 million net new streaming subscribers during the...
    On October 16, 2017 / By
  • Finance 0

    Confusion On Profits, Wages, And Taxes At The White House

    The White House is pushing the line that their proposed cut to corporate tax rates will lead to an increase in average household income of more than $4,000. “Reducing the statutory federal corporate tax rate from 35 to 20 percent would, the analysis below suggests, increase average household income in the United States by, very conservatively, $4,000 annually. The increases recur each year, and the estimated total value of corporate tax reform for the average U.S. household is therefore substantially higher than $4,000. Moreover, the broad range of results in the literature suggests that over a decade, this effect could be much larger.”...
    On October 16, 2017 / By
  • Finance 0

    Energy Stocks Are Not Bullish Yet, They Are Neutral

    Are energy stocks bullish? Some analysts are getting bullish now, right at a time when the price of crude oil is rising. Admittedly, both crude and energy stocks have been in great shape since June. However, both are bumping into heavy resistance now. Moreover, the U.S. dollar seems to be stopped falling. Before looking in the details we want to point out that crude oil is an extremely volatile asset, it is very hard to forecast certainly short to medium term. The chart of energy stocks makes the point we made above. Already many months ago we identified th 69 to 70 area in the XLE ETF as key resistance. That is where both trendlines (in pur...
    On October 16, 2017 / By
  • Finance 0

    Sears Drops After Top Shareholder Berkowitz Steps Down From Board

    Shares of Sears Holdings (SHLD) dropped in afternoon trading after the company said Bruce Berkowitz is leaving its board, effective October 31. BERKOWITZ LEAVES BOARD: Sears announced this morning that Bruce Berkowitz will step down from its board of directors, effective October 31. Berkowitz, who joined the board of Sears in February 2016, is the chief investment manager of Fairholme Capital Management and is the president and a director of investment firm Fairholme Funds. Fairholme Capital Management is the second largest shareholder of Sears shares behind Sears chairman and CEO Eddie Lampert. “I wish the company and its associates al...
    On October 16, 2017 / By
  • Finance 0

    EUR/USD: A Bullish Move Out Of The Range?

    EUR/USD is off the highs but has never gone too low. The pair is still trading on relatively high ground and quite stuck in a range. What’s next? Here are two opinions: Here is their view, courtesy of eFXnews: EUR/USD: USD Support To Fade Soon; Where To Target? – ING ING FX Strategy Research notes the USD relatively recovered on Chair Yellen’s comments over the weekend about the anticipated acceleration in inflation and subsequent rate hikes. In that regard, ING expects the USD recent recovery to be fairly short-lived and limited in coming days. “This is because (a) markets already assign a large probability (70-80%) to a Dec rate ...
    On October 16, 2017 / By
  • Finance 0

    USD/JPY Headed Back To 111?

      There was very little movement in currencies on Monday and this lack of volatility could be indicative of trading for the rest of the week. With no major U.S. economic reports scheduled for release and Fed Chair Janet Yellen not speaking again until after the markets close on Friday, political headlines are the only hope for volatility in the greenback. Traders should be watching for any news on the selection of a Fed chair, North Korea and any progress or setbacks on tax reform. Yellen, who has a 90% chance of losing her job in February spoke on Sunday and her comments were relatively hawkish. She said employment should bounce back after ...
    On October 16, 2017 / By
  • Finance 0

    NAFTA Discussions Impacting Currencies

    (Audio length 00:12:41) With NAFTA negotiation in round 4 there has been quite a bit of news and speculation regarding what will be decided. After asking our regular guests about their thoughts Marc Chandler is one of the only ones to have comments as he has been following along thanks to moves in the currency markets. The Canadian Dollar and Mexican Peso are getting hit today so we follow up on how the NAFTA talks are moving these currencies.  ...
    On October 16, 2017 / By
  • Finance 0

    October 2017 Empire State Manufacturing Index Near Post Recession Highs

    The Empire State Manufacturing Survey improved and now is near post Great Recession highs. It was above expectations. Important internals were in expansion but declined. Analyst Opinion of Empire State Manufacturing Survey I am not a fan of surveys – and this survey jumps around erratically. Expectations from Bloomberg / Econoday were for a reading between 18.0 to 24.1 (consensus +20.0) versus the 30.2 reported. Any value above zero shows expansion for the New York area manufacturers. New orders subindex of the Empire State Manufacturing declined and the unfilled orders sub-index declined. This noisy index has moved from -6.8 (October 2...
    On October 16, 2017 / By