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  • Finance 0

    Double Data Disappointment Today Follows Worst Macro Week In 6 Years

    Following the worst week for US macro data in six years, The Chicago Fed (National Activity) and now The Dallas Fed (regional) have both disappointed and fallen this morning. It was a rough week for ‘hope’ last week…   And this week has not started well… March Chicago Fed national activity index printed 0.08 versus an estimated 0.50 (range -0.1 to 0.75) and February was revised lower to 0.27 from 0.34. Furthermore, 48 of the 85 monthly individual indicators made positive contributions, while 37 indicators deteriorated.   And then Dallas Fed disappointed, printing 16.8 against expectations of 17.0…   But ...
    On April 24, 2017 / By
  • Finance 0

    Putting Pro-Innovation Bias On The Blockchain

    Blockchain Bias Over the past couple of years I’ve spent a lot of time listening to people wittering on about “the blockchain”. They’ve claimed it can solve a plethora of society’s ills – everything from the elimination of poverty to the overthrow of fiat currencies and the nation state. Being charitable this is evidence of pro-innovation bias in all its perverse glory. Being cynical it’s evidence of people trying to scam investment funds by capitalizing on the halo effect. The blockchain is a brilliant piece of innovation, which will one day – probably – lead to significant economic ben...
    On April 24, 2017 / By
  • Finance 0

    4 Top-Ranked Goldman Sachs Mutual Funds To Consider

    Incepted in 1988, Goldman Sachs Asset Management (GSAM) offers financial services including investment and advisory solutions and risk management expertise to institutional and individual investors throughout the globe. With more than $1 trillion assets under management, GSAM is considered one of the world’s leading financial management companies. GSAM prides itself in having more than 2,000 professionals across 31 offices worldwide. The fund family develops investment strategies with respect to geographical regions, industries and asset classes. Below we share with you four top-rated Goldman Sachs mutual funds. Each has earned a Zacks Mutu...
    On April 24, 2017 / By
  • Finance 0

    April 2017 Texas Manufacturing Survey Continues To Expand

    Of the three Federal Reserve districts which have released their April manufacturing surveys – all are in expansion. A complete summary follows.  Analyst Opinion of Dallas Fed Manufacturing Survey Remember that last month, the hard data said manufacturing declined whilst the Fed surveys showed growth. This survey declined but remained in positive territory with both new orders and unfilled orders in positive territory, and new orders improved. Expectations from Bloomberg / Econoday was 14.5 to 18.5 (consensus 15.0), and the reported value was 15.4. From the Dallas Fed: Texas factory activity increased for the 10th consecutive month in ...
    On April 24, 2017 / By
  • Finance 0

    E ADRs Best & Worst Report – Monday, April 24

    The best sector in ADRs is financials. The top countries are Switzerland, Mexico, & Chile. The average score across our ADR universe is 55.19. The score has averaged 53.98 and 54.17 over the past four and eight weeks, respectively. The average ADR in our universe is trading -13.61% below its 52 week high, 6.56% above its 200 dma, has 2.8 days to cover short, and is expected to grow its EPS by 18.05% in the coming year. Financials (HDB, CS, BBD, QIWI), healthcare (GLPG, SNY, BAYRY, FMS, SNN), services (UGP, OMAB, SKYAY, KOF, CEA, ASR, RYAAY, CUK), and consumer goods (IBA, CCU, UL, CRESY) are the best scoring sectors this week. Technology s...
    On April 24, 2017 / By
  • Finance 0

    Global Silver Mining Industry Productivity Falls To The Lowest In History

    After the Primary Silver Mining Industry enjoyed a brief increase in productivity over the past two years, it fell to the lowest ever in 2016.  The reason the average yield of the global silver mining industry increased in 2014 was due to the addition of Tahoe Resources high-grade Escobal Silver Mine. Tahoe’s Escobal Silver Mine’s average yield in 2014 was an astonishing 16.3 ounce per ton (oz/t).  Not only did Escobal Mine enjoy one the highest silver yields in the world, it produced over 20 million oz (Moz) in 2014.  Thus, the addition of Tahoe to the Top Silver Miners pushed their average yield to 7.8 oz/t in 2014 versus 7.6 oz/t in...
    On April 24, 2017 / By
  • Finance 0

    Surplus Or Stimulus

    René Magritte Le Cri du Coeur 1960  Austerity is over, proclaimed the IMF this week. And no doubt attributed that to the ‘successful’ period of ‘five years of belt-tightening’ a.k.a. ‘gradual fiscal consolidation’ it has, along with its econo-religious ilk, imposed on many of the world’s people. Only, it’s not true of course. Austerity is not over. You can ask many of those same people about that. It’s certainly not true in Greece. IMF Says Austerity Is Over Austerity is over as governments across the rich world increased spending last year and plan to keep their wallets open for the foreseeable future. After five years...
    On April 24, 2017 / By
  • Finance 0

    Silver’s… Comeback And Other Important Signals

    The most prominent action in the precious metals market that we saw last week, took place in silver – the white metal closed the week below the important long-term support/resistance line, thus invalidating the previous breakout. However, there’s more to the precious metals market than just the action in silver. In today’s free gold analysis, we discuss both the developments in silver and other factors. Let’s start with silver itself (charts courtesy of http://stockcharts.com). In Friday’s alert, we wrote the following: (…) Still, if gold was to move higher (to $1,310 or so), then the above chart provides us with an analogous up...
    On April 24, 2017 / By
  • Finance 0

    Ready, Set, Splat

    As I write, the French stock market (the CAC 40), is doing a grand jeté (up 4.5 percent!) in celebration of Emmanuel Macron’s assumed slaying of the dragon Le Pen. But that was just the first round under the interesting French election system. Consider that two other candidates who were eliminated, Monsieurs Fillon and Mélenchon, got nearly 40 percent of the vote. Are we so sure about where their voters go in the second and final round two weeks from now? I suspect that most Americans — even the ones who follow Rachel Maddow — are about as interested in French politics as differential calculus. Macron, 36, is a blank slate. He was f...
    On April 24, 2017 / By
  • Finance 0

    Is Pain Ahead For Healthcare ETFs After Weak JNJ Q1?

    The hot healthcare sector has made a nice comeback this year on cheap valuation, robust earnings results, encouraging industry trends, and a slew of positive actions taken by the President despite the collapse of the healthcare bill. This is especially true as popular funds – Health Care Select Sector SPDR Fund (XLV), Vanguard Health Care ETF (VHT – Free Report) , iShares U.S. Healthcare ETF (IYH – Free Report) and Fidelity MSCI Health Care Index ETF (FHLC – Free Report) – have gained at least 8% so far this year, easily outpacing the gain of 5.7% for the broad market fund (SPY – Free Report) . However,...
    On April 24, 2017 / By