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Existing-Home Sales In April Signal Slowly Building Momentum
This morning’s release of the April Existing-Home Sales increased from the previous month to a seasonally adjusted annual rate of 5.45 million units from an upwardly revised 5.36 million in March. The Investing.com consensus was for 5.40 million. The latest number represents a 1.7% increase from the previous month and a 6.0% increase year-over-year. Here is an excerpt from today’s report from the National Association of Realtors. Lawrence Yun, NAR chief economist, says April’s sales increase signals slowly building momentum for the housing market this spring. “Primarily driven by a convincing jump in the Midwest, whe... -
Finance 0
Oil Supply Disruptions Quickly Fading As Canada, Libya, And Nigeria Resume Production
Earlier this week, Goldman unleashed the latest oil rally when it admitted that while the oil market will take far longer to rebalance due to rising low-cost oil production, it said that material supply disruptions are providing a boost to near-term prices. Goldman provided the following visualization of unplanned ongoing outages … … where it highlighted the recent stoppages in Canada, Nigeria and Libya as the most prominent. In a surprising twist, it appears that virtually all three of the main disruptions choke points are being resolved far quicker than expected. First on Canada and its ongoing wildfire, the WSJ reported t... -
Finance 0
Bull Of The Day: Dean Foods
Sometimes I’m very surprised when stocks pop up on my Bull of the Day radar. I get all sorts of stocks across a broad range of industries. They can range from the very exciting to the mundane. Today, I’d have to say the tilt is decidedly mundane. But there’s nothing all that boring about profits so let’s explore. The dairy producer industry is in the Top 7% of all the 265 industries we rank with our Zacks Industry Rank. At the top of that industry is Zacks Rank #1 (Strong Buy) Dean Foods (DF – Analyst Report). Dean Foods is the nation’s leading processor and distributor of fresh milk and other dairy products. The company ... -
Finance 0
Media Misleads On Consumer Debt
You’ve seen the stories today about consumer debt and the media ringing alarm bells…..but is it true? Of course not This goes to the 2008-09 hangover. Everyone wants to be the first to call the next “top” in something so they can gather the accolades that come with it. We’ve heard countless recession call, market top calls etc etc etc and each time they’ve proven worthless. The economy continue to trudge along….everything else follows from that “Davidson” submits: Consumer credit outstanding as a % of the Nominal Private Economy is far lower at 73% Oct 2015 than the peak of 100.7% Jan 2009. Previous levels in consumer cred... -
Finance 0
Why Helicopter Drops Would Work
Here’s John Kay in the FT arguing that helicopter drops don’t work. He says: “even if the lucky recipients of the helicopter drop went straight down to the pub to celebrate their good fortune, the publican would return the cash to the banking system by the end of the day, and the notes would end up back in the vaults of the central bank. The helicopter drop does not give households reason to hold additional notes in their wallets, shops to keep more cash in their tills, or banks to hold more currency in their branches.” He further adds that this sort of money issuance would be viewed as fiscal policy which would be untenable in the... -
Finance 0
USD/CAD Reaches The Highest In A Month – 3 Reasons
The Canadian dollar is having a terrible week and Friday is no different. USD/CAD is tackling resistance at 1.3170, the highest in a month, completing a 700 pip run from the lows. Is this still a correction? It seems like a change of course. Here are 3 reasons for the fall: Fresh fall in oil prices: The Alberta wildfires are still having an impact on oil production from Canada. While the reduced production pushes global oil prices higher, it doesn’t really help Canada that it can’t sell enough of the black gold. We have seen how a drop in price weighed on the loonie while a rise did little to cheer it. And now, WTI is sliding fro... -
Finance 0
DAX 30 Treads Water As No Strong Trend Is In Place
The DAX 30 (CFD: GER30) was up by 0.60% at the time of writing, gains which were led by the Material and Industrial Sectors. While the DAX 30 was up on the day, price was still confined to the 9739-10,111 range; these levels are the May 6 low and the May 10 high respectively. Within this range, there is no clear price trend and the DAX 30 may therefore continue to tread water. Beyond the near term, price action in the longer run (February 11 to be exact), may induce a bullish trend as price has been creating higher lows and highs since then. The last swing low of this bullish trend is the May 6 low of 9739 and as price is bullish abov... -
Finance 0
Vertical Expansion And MarTech Dominate Oracle’s Cloud Buying Spree
Over the past 10 years, Oracle (NASDAQ: ORCL) has spent more than $50 billion on making more than 100 acquisitions. While the year 2015 was a bit tepid on the acquisition front, it has made up for it this year by already announcing five acquisitions, three of which were announced over the past month. Oracle’s Buying Spree In February, Oracle announced its plans to buy virtualization firm Ravello Systems. Ravello enables enterprises to easily move large applications to the cloud. It is based in Palo Alto, but has a research center in Israel. Although terms of the deal were not disclosed, it is estimated to be worth $400 million to $500 mil... -
Finance 0
Existing Home Sales Tumble In South, West Regions; Condo Sales Soar
Single-family existing home sales rose just 0.6% MoM in April with The South and The West regions seeing notable declines in sales (down 2.7% and down 1.7% respectively). What saved the headline print was a 10.3% surge in Condo sales – among the best monthly spikes since the crisis helped by a spike in sales in The Midwest – where prices are most affordable. Condos saved the day: While supply of single-family homes is rising, the demand was again all on condos: The median price of existing homes: Single-family home sales inched forward 0.6 percent to a seasonally adjusted annual rate of 4.81 million in April from 4.78 ... -
Finance 0
E Elliott Wave Analysis: Gold May Reach New Highs
Gold is trading quite nicely from the lows at 1243.88, from where we labeled end of black wave C and is now ideally trading in a new bullish cycle. For now we think that wave 1 can already be completed, and that wave 2 is underway, as of recent choppy and overlapped price action. That said wave 2 can find its resistance near 50 or 61.8 Fibonacci ration, from where a new reversal into wave 3 may occur. Gold, 1H...
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