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Global Markets End The Week Higher Tracking US Jobs Data
Global financial markets ended the week on a positive note with a boost from Asian share markets. Asian share markets rose to their best levels in more than two years as positive data on US manufacturing and employment and buoyant European factory growth boosted investor optimism. The Japanese Nikkei 225 ended the week up by 2.5% while Hong Kong’s Hang Seng was up by 1.1%. Except German indices, European share markets ended the week on a flattish note. The German Dax ended the week up by 1.8% and closed at an all-time high on the back of strong German manufacturing data. France’s CAC 40 ended the week up 0.1% and London̵... -
Finance 0
Dollar Dogged By Disappointing Data
The technical indicators warn that the US dollar is stretched, but the combination of disappointing auto sales and jobs report may deny it the interest rate support needed to facilitate a resumption of the bull market. While there are many observers talking about the abdication of the US from its global leadership role given the decision to pull out of the Paris Accord and the TPP, we think the dollar’s performance can be explained by changing perceptions about the pace of US economic activity, the direction of inflation, and prospects for significant tax reform and infrastructure spending. There is a light US economic calendar in the ... -
Finance 0
Camtek – Chart Of The Day
The Chart of the Day belongs to Camtek (CAMT). I found the optical inspection equipment stock by using Barchart to sort today’s Top Stocks to Own list first for the highest Weighted Alpha, then again for technical buy signals of 80% or more. Since the Trend Spotter signaled a buy on 5/4 the stock gained 80.24%. Camtek Ltd., designs, develops, manufactures, and markets automatic optical inspection systems and related products. Camtek’s automatic inspection systems are used to enhance both production processes and yield for manufacturers in the printed circuit board industry, the high density interconnect substrate industry an... -
Finance 0
May 2017 Cash Deficit: $107B
The May 2017 Cash Deficit came in at $107B. That may not look great YOY, but the big expense spike was timing related, and expected. On the revenue side, we got a $20B bump from the FCC…I’m assuming spectrum auction revenues, and otherwise solid revenues with an additional business day as well… Put it together and the YOY deficit through 5 months is actually down $3B as revenues are at +3.7% while outlays are up about 3%. I wouldn’t count on the +3.7% sticking…+2.0% looks a bit more realistic once you pull out the one offs, but regardless, here we are with a very slightly improved deficit. It’s still not great, but we’ll take it... -
Finance 0
Gold Miners Weak But Not Oversold
If looking at Gold only in a vacuum, it looks good. Its uptrend since the start of the year remains intact and it has pushed above its 50 and 200-day moving averages. It closed the week at $1280/oz and could test $1300 next week. But looks can be deceiving. Considering the US Dollar index closed at a 7-month low today, Gold is lagging a bit. Moreover, both Silver and the gold miners have not confirmed Gold’s recent rise. In fact, the miners are lagging the metals “bigly.” At the moment the miners are not so oversold but a reversal in Gold could be the catalyst that pushes miners to oversold extremes. Both gold and silver miners are spor... -
Finance 0
Aussie Hit By China PMI
The Aussie Dollar was put under some pressure after the release of China’s PMI results show an unexpected shrinkage in manufacturing activity last month. The Caixin survey showed a reading of 49.6 in May, down from 50.3 in April and off the analysts’ forecasts of a decline to 50.1. For reference, any reading below the 50.0 threshold signals contraction in the sector while a number above it indicates expansion. The Caixin report is at odds with Wednesday’s release of the government’s NBS report which reported a reading of 51.2; the Caixin focuses primarily on smaller firms, however. As reported at 11:05 am (BST) in London, the AUD/USD ... -
Finance 0
Helmerich & Payne: 5%+ Dividend Yield From A High-Quality Oil Stock
The oil and gas industry has long been associated as a ‘boom-and-bust’ business. Big Oil was riding high from 2010-2014, as oil prices jumped above $100 per barrel in the U.S. But the good times abruptly ended, as new drilling technologies enabled robust production growth. This has dragged oil prices down since then, which has taken Helmerich & Payne (HP) down with it. The stock has lost nearly one-third of its value year-to-date. On the other hand, right now could be a good time for income investors to take a closer look at Helmerich & Payne. The sell-off over the course of 2017 has pushed Helmerich & Payne’s dividend yield... -
Finance 0
Stocks Finish Week Higher Despite Paris Accord Flap, Job Growth Slowdown
Stocks advanced this week and the major averages closed at record high levels despite data that showed wage growth and hiring missed forecasts in May. Additionally, a number of U.S. CEOs expressed their dissatisfaction with President Trump’s decision to withdraw the U.S. from the Paris climate agreement, with two high-profile ones citing the withdrawal as reason to quit the president’s advisory councils. MACRO NEWS: In the U.S., nonfarm payrolls grew by 138,000 in May, versus expectations for the addition of 182,000 jobs. That level of job additions was down from the downwardly revised 174,000 jobs added in April, which had previo... -
Finance 0
E Trump And The Big Renewable Energy Effort
With Donald Trump in the news for pulling out of the Paris Accord, we should look at this global move to renewable energy, and be concerned. Awhile back I wrote about the uselessness of self driving auto. It was pretty easy to prove the wasted efforts there. But the Renewable Energy effort is more complex to decipher. There are statements that come from pro renewable energy writers that border on untruthfulness regarding job creation. Even authors use the following quote to defend the net gain in jobs. But reading the quotation carefully, we see that the authors of the study cited are talking about temporary, not permanent, jobs: There i...
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