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Finance 0
Yen Weakens After Hitting A 17-Month High
The yen continues to move markets. After hitting a 17-month high of 107.63 per dollar Monday , it looked set to weaken Tuesday for the first time in eight sessions, sending Asian markets rallying. Japan’s broad Topix index was up 1.5 per cent, while the narrower Nikkei gained 1.2 per cent, putting both benchmarks on track for their biggest one-day advances in three weeks. Japanese equities opened higher, selling off the yen and weakening it by 0.2 per cent at 108.16 per US dollar. The resurgence in the yen has driven expectations in the market for further easing from the Bank of Japan at its April 28 policy meeting. Another rate cut of 0.2 ... -
Finance 0
Morning Call For April 12, 2016
OVERNIGHT MARKETS AND NEWS Jun E-mini S&Ps (ESM16 +0.29%) are up +0.34% and European stocks are up +0.37% as a +0.50% rally in crude oil to a 2-1/2 week high boosts energy producers. Mining stocks are higher as well, led by a 5% gain in Anglo American Plc, as the price of gold climbed +0.11% to a 3-week high and after Anglo’s De Beers unit forecast stronger diamond sales. Asian stocks settled mixed: Japan +1.13%, Hong Kong +0.31%, China -0.34%, Taiwan-0.37%, Australia +0.89%, Singapore +0.19%, South Korea +0.68%, India +0.49%. Japanese bank stocks rallied helped pushed the Nikkei Stock Index higher after the BOJ reduced the porti... -
Finance 0
Futures Rebound On Weaker Yen; Oil Hits 2016 Highs
In recent days, we have observed a distinct trading pattern: a ramp early in the US morning, usually triggered by some aggressive momentum ignition, such as today’s unexplained pump then dump in the EUR/USD… … with stocks rising after the European open, rising throughout the US open, then peaking around the time the US closed at which point it is all downhill for the illiquid market. So far today, the pattern has held, and after trading flat for most of the overnight session, with Europe initially in the red perhaps on disappointment about the Italy bank bailout fund, a bout of early Europe-open associated buying pushed U... -
Finance 0
E Finding Value In Bank Of America Shares
Since its shotgun marriage with Merrill Lynch back in 2008, Bank of America (BAC:NYSE) has struggled to deliver positive results to shareholders as it lumbers forward under the burden of legacy disputes arising from the last housing crisis and continued scrutiny over its business practices. This has contributed to the softness in the bank’s shares, which have been amongst the worst performers in the US financial sector. Hurt by falling revenues and a weak outlook for net interest income, the possibility of a shifting credit cycle could not come at a worse time for the bank as it struggles to impress shareholders with its litany of overhauls... -
Finance 0
The New Middle Kingdom Of Concrete And The Red Depression Ahead
No wonder the Red Ponzi consumed more cement during three years (2011-2013) than did the US during the entire twentieth century. Enabled by an endless $30 trillion flow of credit from its state controlled banking apparatus and its shadow banking affiliates, China went berserk building factories, warehouses, ports, office towers, malls, apartments, roads, airports, train stations, high speed railways, stadiums, monumental public buildings and much more. If you want an analogy, 6.6 gigatons of cement is 14.5 trillion pounds. The Hoover dam used about 1.8 billion pounds of cement. So in 3 years China consumed enough cement to build ... -
Finance 0
AUD/USD: Targets Further Upside On Bullishness
AUD/USD: Having the pair extended its upside pressure to close higher on Monday and was seen following through higher on Tuesday, further strength is envisaged. On the downside, support resides at the 0.7600 level where a breach will aim at the 0.7550 level. Below that level will set the stage for a run at the 0.7500 level with a cut through here targeting further downside pressure towards the 0.7450 level. On the upside, resistance lies at the 0.7700 level. A cut through here will turn attention to the 0.7750 level and then the 0.7800 level where a violation will set the stage for a retarget of the 0.7850 level. On the whole, AUD/USD remains... -
Finance 0
Higher Inflation Lifts Sterling, Yen Stabilizes
There are three highlights to the foreign exchange market today. First, the yen is marginally softer. The yen’s strength this month has been the main development. After making a marginal new high yesterday, some semblance of stability emerged in North America yesterday, and this has carried over into today’s activity. The greenback largely held above JPY107.90 and rose to JPY108.40 in late Asia. It has been consolidating in the European morning. Japan’s Finance Minister appeared to ratchet up the rhetoric a notch, warning that if the moves are extreme and one-sided, officials will take action. Yet the fact that there... -
Finance 0
5 Tech Stocks Seeing Massive Earnings Growth In 2016
As technology advances, new companies and industries rise up, offering unique solutions, services, and products. Not every new tech company makes for a promising investment though. Startup companies are especially risky to invest in because there’s no telling how they’ll perform. Before gauging how well a company can do, it’s important to see how well it has done in the past. For investors who want a lot of growth going forward, it’s important to see that there has been some significant growth in recent history as well. Below, we outline five tech stocks that have done just that. Each of these companies saw their earnings grow by at l... -
Finance 0
E Oil And Stocks
I have known oil industry expert Daniel Yergin since working for the Senate Foreign Relations Committee in the 1970s. Yergin attended our hearings on OPEC’s quadrupling the oil price and then turned out readable versions of the revelations, forecasts, and strategies the Senators had extracted from their witnesses. My then-boss, Sen. Clifford P. Case, R-NJ, called Yergin a “terrible simplificateur.” Dan Yergin is still at it. This week, he managed to be quoted at the top of the financial second section of the Financial Times saying: “the era of OPEC as a decisive force in the world economy is over. It is clearly a very divided orga... -
Finance 0
Equity Valuations, Recessions And Stock Market Declines – April 12, 2016
When I initiated the dshort web page in late 2005, one of my routine topics was equity valuations, initially inspired by Nobel laureate Robert Shiller’s book, Irrational Exuberance, the second edition of which was published earlier that year. I gradually expanded my focus from his cyclically adjusted price-to-earnings ratio (CAPE) to include Ed Easterling’s Crestmont P/E, Nobel laureate James Tobin’s Q Ratio and my own monthly regression analysis of the S&P 500. A few years ago I began posting a monthly update featuring an overlay of the four. Here is a chart that shows the average of the four valuation indicators fr...
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