Unlike the other big banks, Goldman’s earnings release is a breeze: since the bank has virtually no balance sheet to use as a source of income (or loss), it is all about the income statement. And it was here that there was a big surprise, because despite expectations of a blowout result, with whisper numbers well above consensus estimates, Goldman unexpectedly disappointed, reporting Q1 revenues of $8.03BN, below the $8.53BN expected, translating to EPS of $5.15, fractionally below the $5.17 estimate, which nonetheless was 92% higher compared to EPS of $2.68 reported one year ago. Unlike other banks Goldman did not benefit as much from ...
In this past weekend’s missive, “Markets Go On Alert,” I stated that due to the oversold condition of the market on a very short-term basis, a rally was due this week. To wit: “IMPORTANT: By the time weekly signals are issued on an intermediate-term basis, the market is generally oversold, with ‘bearish’ sentiment increasing, on a short-term (daily) basis. Given those short-term conditions, it is quite likely the markets will rally next week.” Chart updated through Monday’s close. “IMPORTANT: It is the success or failure of that rally attempt that will dictate what happens next. If the market can reverse course ...
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OVERNIGHT MARKETS AND NEWS Jun E-mini S&Ps (ESM17 -0.22%) this morning are down -0.30% and European stocks are down -0.98% at a 3-week low as weakness in energy producing stocks and mining companies drags the overall market lower. May WTI crude oil (CLK17-0.85%) is down -0.78% at a 1-week low on concern that U.S. shale oil production is ramping up after the latest data showed active U.S. oil rigs last week increased to their highest in 1-1/2 years. Freeport McMoRan and U.S. Steel are both down more than 1% in pre-market trading as iron ore prices tumbled to a 4-3/4 month low after Citigroup said it was bearish in the outlook for th...
Following conflicting earnings reports by JPM, Citi and Wells, Bank of America reported a jump in its quarterly profit, announcing EPS of $0.41, above the expected $0.35, as net income rose 40% Y/Y to $4.86 billion, up from $3.47 billion a year ago. Revenue was $22.25 billion, up from $20.79 billion a year ago, with adjusted revenue printing at $22.45 billion compared, beating estimates of $21.61 billion. The rebound in Q1 profits was led by Global Banking and Global Markets, with Consumer Banking also posting a modest rebound. A key driver for the strong performance in Q1 was the apparent rebound in the bank’s Net Interest Margin, whic...
This market is still going sideways, but I’m seeing a few warning signs, signs that traders and investors are getting a bit more cautious – and I trust the prices I’m tracking for this more so than pundits and public opinion. But the pundit class does have a role to play in this; they establish the “zeitgeist,” the spirit of the times, or the mood of people participating in the markets. A market’s mood is much different than its narrative, or major driving force. Today’s mood is uncertain, bordering on negative. I’m seeing that reflected in two charts I’m using right now – charts that are al...
As markets return to full participation following the Easter recess, and as a new trading week get’s underway, I thought it would be apposite to consider the three primary currencies of the US dollar, the yen and the euro on the daily timeframes. And for those of you who may be wondering why I have not been posting regularly over the last few months it is simply because I have been involved in my own trading, and also completing a comprehensive forex trading education course which will be available very soon. And if we begin with the dollar index, the sentiment for the currency could best be described as one of bullish exhaustion as diverge...
Johnson & Johnson (NYSE:JNJ) early Tuesday posted mixed first quarter earnings results, but said its guidance remains unchanged as it works to fully integrate a big recent acquisition....
The Economist Intelligence Unit (EIU), the research branch from the same people that bring you the magazine, compiled their annual list of the world’s most expensive cities. Most cities on the list were in Asia, with a few dotted across the continent of Europe. Written by (BetterDwelling.com) Top 10 Most Expensive Cities In The World The world’s most expensive cities were mostly located in Asia, although Europe is pricey too. Singapore came in first, followed by Hong Kong. The Swiss cities of Zurich, and Geneva came in third, and seventh respectively. The Japanese cities, Tokyo and Osaka, came in fourth, and fifth. The Eurozone nabbed two...
Silver Price Forecast 2017 / 2018 Silver Prices Likely To Rise In A Concentrated Manner The long-term view of silver is extremely bullish, given that it is one of the most undervalued metals, today. It is evident that ideal economic conditions are present, for silver prices to rise for many years to come: All-time low interest rates, that are about to rise Over-valued stock markets Fragile international monetary system that is debt-laden to the full. Furthermore, it appears to be the first time that these ideal economic conditions, for a rise in silver prices, align in such a timely manner; in particular, the bottom in interest rates, the p...