Abbott Laboratories (NYSE: ABT) early Wednesday posted much better than expected first quarter earnings results, led by huge growth in its medical devices unit that was bolstered by a recent acquisition....
The best mid cap sector is utilities. The top mid cap industry is technical/system software. The average score for mid cap stocks in our universe is 54.39 and the scores averaged 57.43 over the past four weeks. The average mid cap stock in our coverage is trading -16.23% below its 52 week high, 1.29% above its 200 dma, has 3.62 days to cover held short, and is expected to grow EPS by 17.3% in the coming year. The best mid cap sectors are utilities, technology, and healthcare. Industrials score in line. Consumer goods, services, financials, and basic materials score below average. The following stocks score best and worst in mid cap this week....
In discussing the key overnight news in an otherwise quiet session, JPM writes that “the most important headline was prob. the one concerning China loosening some currency outflow curbs” so focusing on that, Reuters, and SCMP before it, reports that after months of draconian and ever tightening capital control, China’s central bank has relaxed some of the curbs on cross-border capital outflows it put in place just months ago to shore up the yuan currency. Specifically, as of last week, the People’s Bank of China (PBOC) is no longer demanding that banks match outflows with equal inflows, the sources said. The South Chi...
A couple of weeks ago in “‘This Was Inevitable At Some Point“, we asked a simple question: is there a storm coming for emerging markets? The point was pretty simple really. EM has held up remarkably well in the face of what is supposed to be a Fed tightening cycle. Indeed, Q1 worked out quite well if you were long anything with the prefix “EM.” (Goldman) In a testament to just how “cray” EM’s resiliency truly is, we also noted (a short while after the post linked above was published) that on a Fed Minutes day, the Vanguard FTSE EM ETF got its biggest daily inflows since 2012 ($872.5M): (BBG) Here’s how we attempted to e...
from Challenger Gray and Christmas Relocation rates held steady in 2016 and the first quarter of 2017. While employment prospects are strong this year, it is not easy to find jobs in certain places across the country. Although the national unemployment rate fell slightly in March to 4.5 percent from 4.7, some areas fall well below and well above this average, indicating varying degrees of economic strength. Said John Challenger, CEO of Challenger, Gray & Christmas, Inc. Job seekers have more options than they did during and immediately after the Great Recession. While many do not necessarily have to move for work, just over 10.23 percent ...
Video length: 00:10:56 After a brief rally at the start of April, the US Dollar Index (DXY) finds itself swinging back lower within its consolidation, a range that has carved itself out over the past four-plus months. A lack of significant drivers on the US Dollar side of things, or rather, disappointment among US fundamental drivers, remains the greenback’s albatross: the Fed is unlikely to accelerate its rate hike timeline unless fiscal stimulus takes shape, which seems less and less likely for anytime before Q4’17 (if at all this year). The swing lower by DXY yesterday thus had little to do with the US Dollar and everythin...
Morgan Stanley (MS) and BlackRock (BLK) released their latest earnings reports before opening bell this morning. Morgan Stanley posted earnings of $1 per share on $9.7 billion in revenue, compared to the consensus estimates of 89 cents per share and $9.3 billion. In last year’s first quarter, the firm reported $7.8 billion in revenue and 55 cents per share. BlackRock reported adjusted earnings of $5.25 per share, against the consensus of $4.89 per share, on $2.82 billion in revenue, compared to the $2.87 billion Wall Street was looking for. In last year’s first quarter, the firm reported adjusted earnings of $4.25 per share and $2.62 bill...
The GBP/USD spiked heavily after UK PM Theresa May called for snap UK elections for June 8. UK PM May stated that these elections might further instill the stability in UK and would provide stability for a longer period. Traders favored UK PM’s reasoning and the GBP flew off above weekly resistance levels. The pair has formed a bullish pennant that might provide a further breakout to the upside above 1.2855 targeting 1.2907 and 1.2946. In case of retracement, technically the POC comes within 1.2735-60 (ATR low, W H5, D H3) and rejection should target 1.2835 and 1.2855 with the possible breakout as mentioned above. Follow @TarantulaFX on ...
OVERNIGHT MARKETS AND NEWS Jun E-mini S&Ps (ESM17 +0.27%) this morning are up +0.27% and European stocks are up +0.37%. A 4% rally in Morgan Stanley in pre-market trading is giving banking stocks a boost after it reported Q1 revenue of $9.75 billion, higher than expectations of $9.29 billion. Energy producing stocks are higher as well with May WTI crude oil (CLK17 +0.13%) up +0.29% after the API reported Tuesday afternoon that U.S. crude stockpiles fell -840,000 bbl last week. Strength in automakers is giving European stocks a lift after Eurozone Mar new car registrations rose +11.2% y/y. The U.S. markets await the Fed’s Beige Bo...
On Tuesday, oil closed lower after it was reported that shale output in the U.S. had increased substantially. The OPEC deal continues to gain traction for the oil market. Forecast shows that there may be another surprise fall in the next stockpile report. WTI crude oil closed lower by 0.24 cents to $52.14. Brent crude oil closed lower by 0.26 cents to $55.10 per barrel. Shale Output Rising There already is a large widespread oil glut around the globe. The problem is that the amount of stockpiles produced must drop to sustain prices. The big issue is that shale output has increased substantially over the years. The reason being is that mor...