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Tariffs Are Good For Inflation
The news of the day Monday – at least, from the standpoint of someone interested in inflation and inflation markets – was President Trump’s announcement of a new tariff on Canadian lumber. The new tariff, which is a response to Canada’s “alleged” subsidization of sales of lumber to the US (“alleged,” even though it is common knowledge that this occurs and has occurred for many years), ran from 3% to 24% on specific companies where the US had information on the precise subsidy they were receiving, and 20% on other Canadian lumber companies. In related news, lumber is an important input to homebuilding. Several home price indic... -
Finance 0
Bulls Have Breathing Room
The second day of gains has severely stressed any shorts left in the market. Volume rose in confirmed accumulation as buyers pushed markets well away from nearest support. Best of the action belonged to the Dow Jones Industrial average with recovering ‘buy’ triggers in the MACD and +DI/-DI. The S&P didn’t quite match the Dow, nor did it close at new all-time highs, but it did trigger a fresh ‘buy’ signal as it pulled away from its 50-day MA. Only On-Balance-Volume remains to turn technicals net bullish once more. Tech averages were not the biggest percentage gainers on the day, but they are the indices at ne... -
Finance 0
Q1 Earnings Reports Heavy After The Bell: T, X, CMG, WYNN
Companies as vast and well-known as AT&T (T – Free Report) , U.S. Steel (X – Free Report) , Chipotle (CMG – Free Report) have all reported Q1 earnings after the closing bell, with typically varying results. Let’s touch on a few of the highlights: Chipotle, benefiting from a year-over-year comp relating to last year’s e.coli difficulties, posted a very impressive $1.60 per share ($1.28 is what analysts had been looking for) on $1.07 billion in sales which also beat top-line expectations. Yearly comps even outperformed the positive sentiment analysts had baked into the results, increasing 17.8% from the 15.5% a... -
Finance 0
AT&T Meets Q1 Earnings Forecast, Adds 2.7 Million Wireless Customers
AT&T Inc. (T – Free Report) just released its first quarter fiscal 2017 financial results, posting adjusted earnings of 74 cents per share and revenues of $39.4 billion. Currently, T is a Zacks Rank #3 (Hold), and is up 1% to $40.34 per share in trading shortly after its earnings report was released. Matched earnings estimates. The company posted adjusted earnings of 74 cents per share, matching the Zacks Consensus Estimate of 74 cents per share (this number excludes 18 cents from non-recurring items). Net income attributable to AT&T was $3.5 billion. Missed revenue estimates. The company saw revenue figures of $39.4 billion, ju... -
Finance 0
U.S. Steel Crashes After Slashing Guidance By More Than 50%
One day after Trump slammed Canada with a lumber tariff, somehow managing to send lumber future prices limit down on the CME, he is faced with another, far more credible crisis: the terrible guidance just released by US Steel (X) in particular, and the fate of the US Steel industry – and China’s adverse impact – in general. Here is the bloodbath just reported by US Steel: Loss per share $1.03 Adj. loss/share 83c Net Revenue $2.73b, est. $2.95b EBITDA $74m, est. $254.7m But it was the company’s guidance that was the real shocker: 2017 net earnings of approximately $260 million, or $1.50 per share, more than 50% below th... -
Finance 0
Texas Instruments Q1 Earnings Beat, Q2 Outlook In-Line
Written by StockNews.com Texas Instruments Incorporated (TXN) late Tuesday posted market-beating first quarter earnings and offered an in-line outlook for the second quarter.... -
Finance 0
“Throwing In The Towel” – US Stock Market Shorts Hit 10-Year Low
It appears the bears have almost fully “thrown in the towel” as short interest in the US equity market’s most liquid ETF has tumbled to its lowest since May 2007. In fact, the last time shorts were this dis-spirited was just as the S&P 500 began its rounded top and freefall from a previously “permanently high plateau.” (we note that these numbers are for late-March and today we will see the mid-April levels for short interest) Along with the collapse in VIX (as hedges are unwound), one might wonder where the ammunition for the next short-squeeze leg higher will come from?... -
Finance 0
Defining Labor Economics
Economics is a pretty simple framework of understanding, at least in the small “e” sense. The big problem with Economics, capital “E”, is that the study is dedicated to other things beyond the economy. In the 21st century, it has become almost exclusive to those extraneous errands. It has morphed into a discipline dedicated to statistical regression of what relates to what, and the mathematical equations assigned to give those relationships some sort of meaning. The immutable laws of economics care nothing of ferbus and the other DSGE models that try to make enough sense of a complex economy so as to fool policymakers into thinking ... -
Finance 0
Beasley Broadcast Group – Chart Of The Day
The Chart of the Day belongs to Beasley Broadcast Group (BBGI). I found the radio stations stock 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. Sine the Trend Spotter signaled a buy in 4/12 the stock gained 28.74%. Beasley Broadcast Group is one of the largest radio broadcasting companies in the United States. The company’s stations are located in large and midsized markets in the eastern United States. The radio stations program a variety of formats, including urban, contemporary hit radio and country, which target the demogr...
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