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Finance 0
‘Dollar’ Not Dollar
With stocks falling today continuing somewhat yesterday’s post-FOMC sell-off there was going to be universal citation of monetary policy; or at least these new expectations of monetary policy coming supposedly for June. The dominant narrative remains in favor of Fed power where stocks don’t do well without it. So as the central bank removes so very slowly its “accommodation” we are led to believe that is the cause of equity price angst. How this idea has survived the events of the past few years let alone since August 2007 is simply disgraceful. If there has been a “Greenspan put” all along how is it that the stock market crashed... -
Finance 0
Huge Potential For Parker Vision Shareholders
On May 16, 2016, ParkerVision (PRKR) released its first-quarter earnings report for 2016. The company is currently embroiled in an ongoing dispute after filing a complaint in Dec. 2015 against Apple (NASDAQ:AAPL), Qualcomm (NASDAQ:QCOM), Samsung and LG with the U.S. International Trade Commission, alleging the infringement of their patents. During the quarter, PRKR reported a net loss of $5.1 million, which was down by 11 percent from the net loss of $5.8 million the company reported for the same quarter in 2015. The company also reported receiving $11 million in funding from Brickell Key Investments, or BKI, primarily to be used to pay its... -
Finance 0
This Retailer’s Earnings Could Be A Slam Dunk
Photo Credit: Mike Mozart Foot Locker, Inc (FL) Consumer Discretionary – Specialty Retail | Reports May 20, Before Market Opens The tides have turned in the retail space in the past few days. After a handful of dismal weeks, names like American Eagle, Lowe’s, and Walmart defied current trends and crushed expectations. Foot Locker hopes to continue the latter trend when it reports first quarter earnings tomorrow morning. The Estimize consensus is calling for earnings per share of $1.42 on $2.01 billion in revenue, 2 cents higher than Wall Street on the bottom line and right in line on the top. Compared to a year earlier, estimates ref... -
Finance 0
S&P 500 Snapshot: Back In The Red Year-To-Date
European indexes were having a bad day when the US markets opened. The Euro STOXX 50 would ultimately close with a 1.26% loss, and the FTSE would drop a more dramatic 1.86%. Our benchmark S&P 500 plunged at the open and hit its -1.06% intraday low about 90 minutes later. During the lunch hour the index began a slow struggle higher and ended the session with a 0.37% loss, thus trimming about two-thirds off the late morning low. The S&P 500 is back in the red year-to-date at -0.19% after 27 sessions in the green. The yield on the 10-year note closed at 1.85%, down two basis points from the previous close. Here is a snapshot of past five... -
Finance 0
Late Rallies Recover Day’s Losses
It was a late morning reversal which clawed back losses from the open. Markets still finished with a close below the open, but it was looking ugly at the start of the day. The S&P finished with a bullish ‘hammer’ just below the neckline. On the positive front, it may be rejecting the neckline breakdown I have talked about over the last couple of days. On the negative front, the failure to recover the neckline suggests bears maintain control. The Nasdaq is still holding on to May’s swing low, but today’s doji is a neutral candlestick which looks week given it sits at such support. All other technicals are negative... -
Finance 0
EC When Rare Market Data Screams, Listen
Are US stocks going up or down next week? Is the euro or pound trending up or down? What trends do we see in corporate earnings, employment numbers, trade deficits, and GDP numbers? What technical indicators are we following and what do they tell us? In the financial world there are plenty of pieces of information to follow. Financial information is sought 24/7. However, there is one set of numbers I rarely see discussed when living through these financial bubbles: very rare market data regarding price. In this short piece, we will look at why every investor, whether big or small, should be seeking this information constantly. If we were, we ... -
Finance 0
Don’t Trust Goldman (Especially On Oil Prices)
An open public market requires an even playing field. Some participants may have bigger computers, or a millisecond head start on data. But at least all investors theoretically have access to the same information and analysis. The idea is that each participant is able to balance risk and reward to suit their own tastes, using the same data. Unless, that is, some players are allowed to put a thumb on one side of the scales for their own advantage… On Monday of this week, Goldman Sachs Group Inc. (NYSE: GS) issued an interesting reversal of the firm’s normal bearish stance on oil prices. The investment bank released what most are calling... -
Finance 0
Millennials: 92 Million Reasons To Catch This Trend
I ran and then jumped. Forty-five feet of nothing but the rush of open air … and then the cold water of Lake Champlain. I’m sure people still do the same thing off the same cliffs near Burlington, Vermont. Most of us have some story like this, something that you did when you were in your 20s. A bit crazy, but you did it because you didn’t want to miss out on the experience. Today’s millennials are crazy for experiences. Where previous generations earned and saved to buy stuff — jewelry, watches, brand-name clothes and fancy cars — the millennials just want the experience. And then they want to tell their friends all about it. Why ... -
Finance 0
‘There Will Be Banker Blood’: Why JPM Is Afraid Of “Quiet Trading Floors”
With banker bonuses set to drop this year, it should be no surprise that things are not all sunshine and roses on Wall Street. After 30 years of dramatically outperforming Main Street, Wall Street wages may be set for some mean-reversion as JPMorgan analysts take an ax to the biggest global investment banks’ earnings. As Bloomberg reports, “quiet trading floors” are set to depress global investment banks’ second-quarter revenue 24 percent, with weakness across equities, interest rates, currencies, with a regionally-driven weakness from Asia. While equity trading volume declines are well known, FX trading volumes are tu... -
Finance 0
The Inflation Targeting Scam And Why It Guarantees The Mother Of Financial Meltdowns
The estimable Martin Feldstein put the wood to the Fed in a recent op ed and in so doing hit the nail directly on the head. He essentially called foul ball on the whole inflation targeting regime and the magic 2.00% goalpost in part due to the measuring stick challenge. A fundamental problem with an explicit inflation target is the difficulty of knowing if it has been hit. That problem is plainly evident in the chart below. You could very easily make the argument that goods prices are beyond the Fed’s reach because they are set in the world markets and by the marginal cost of labor in China and the EM. Therefore the more domestically...
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