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Finance 0
Gold Posts Third Straight Weekly Gain
Gold prices ended the week up nearly 5% to settle at $1173.19 an ounce, the highest level since October 28. The recent turbulence in global equity markets and lackluster demand for the greenback drove strong gains for gold last week as investors sought safe haven assets. Friday’s data from the Commodity Futures Trading Commission (CFTC) showed that speculative traders on the Chicago Mercantile Exchange increased their net-long positions in gold to 72822 contracts, from 59040 a week earlier. Although the latest batch of soft U.S. data raised concerns about the strength of the economy, Friday’s non-farm payrolls report suggests that... -
Finance 0
Five Companies With The Biggest Negative Revisions Ahead Of This Week’s Earnings
Monday, February 8 Wednesday, February 10 Thursday, February 11 Yelp, Inc. (YELP) Information Technology – Internet Software & Services | Reports February 8, after the close. The Estimize consensus is calling for EPS of -$0.04 and revenue of $152.54 million, right in line with Wall Street estimates. Compared with Q4 2014 this represents a projected a YoY decline in EPS of 156% while revenue is expected to grow 39%. The Estimize community is bearish on Yelp’s profitability, cutting EPS estimates 78% since Yelp last reported. What to Watch: Yelp is plagued with many problems which have weighed heavily on the company’s profitabilit... -
Finance 0
Crude Oil Prices Dive, Pulling Equities Lower
Today’s Economic events Japan current account 1.64Tn. vs. 1.59Tn Japan Bank ending y/y 2.30% vs. 2.20% previously Japan average cash earnings y/y 0.10% vs. 0.70% Australia ANZ job advertisements m/m 1.0% vs. -0.10% previously Japan economy watchers sentiment 46.6 vs. 48.5 Eurozone Sentix investor confidence 6.0 vs. 7.2 Coming up US Labor market conditions index Following Friday’s jobs report, the markets remained undecided with the US equities falling to rally despite the US Dollar managing to recover from the last week’s strong sell-off. The Asian markets opened today with the Nikkei225 closing with 1.10% gains while the Shangh... -
Finance 0
The Stock Whisper Of The Day: SPY, UGAZ, UNG, GDX
Hot stocks of the day: SPY, UGAZ, UNG, GDX Video length: 00:06:14... -
Finance 0
CAD: Change In Flight Path Too Dramatic; GBP: Brexit No Grexit…Yet – CIBC
The Canadian dollar made quite an amazing turnaround, with a move worth over 1000 pips. Also the pound is a bit wild. What’s next? The team at CIBC examines: Here is their view, courtesy of eFXnews: Loonie’s Change in Flight Path Too Dramatic. It’s been a wild start to the year for the C$. Having fallen below 70 cents US, it’s now recovered all of that ground even though oil prices are still lower than they were at the start of the year and markets are pricing in a greater probability of a BoC cut. So what’s changed? Largely increased concern about the US economy that has seen markets completely price out another Fed hike this yea... -
Finance 0
Who Really Needs A Gold Standard?
Bloomberg News recently made an astounding proclamation in a news release , by nothing less than postulating a return to a gold standard. Let me repeat. Bloomberg, a part of the mainstream media propaganda machine which often bashes all things related to gold (including the gold standard), is now advocating a return to a gold standard. However, a major caveat must be attached to this astonishing revelation. This media tentacle was not advocating that we abandon our fraudulent, fiat currency Ponzi-scheme and return to a gold standard at the global level. Rather, it was only advocating a quasi-gold standard, domestically, and in just one ... -
Finance 0
World Markets Weekend Update: The Selloff Resumes
The week-over-week change in our aggregate world market watch list was a disappointing 2.90% decline, a major reversal from the previous week’s 1.10% gain. China;s Shanghai Composite was the top performer, up 0.95%. The two Eurozone indexes were the big losers, the CAC 40 at -4.90% and the DAXK at -5.24%. Here is an overlay of the eight illustrating their comparative performance so far in 2016. Here is a table of the 2016 performance, sorted from high to low, along with the interim highs for the eight indexes. The top performing BSE SENSEX is down only 5.75%, while the Shanghai Composite, despite being the week’s top performer, is... -
Finance 0
FTSE 100: More Pain Ahead
The FTSE 100 (FXCM: UK100) has now breached its January 26 low of 5767 and is expected to drift to the January 21 low of 5660 over the coming days ahead. Traders not short will most likely use a pullback to the regions of 5800 before turning bearish, as the risk/reward ratio is favourable here. The overall trend will be bearish below the February 4 high at 5949, which is also the level highlighted last week as a sell zone. Traders need to lift price above this high for bullish positions to be considered. At this stage, it’s hard to pinpoint exactly what is driving price, yet it may be last week’s strong U.S. labor market report, whi... -
Finance 0
This Beats Folgers
They were wrong. The best part of waking up isn’t the prospect of sipping on some dreadful freeze-dried coffee. It is, instead, holding my breath, bracing myself, turning on my screen, and see it covered in sangre de cristo. Now if you’ll excuse me, I had probably find some pants to put on for the trading day. Achtung, baby.... -
Finance 0
Gold Jumps On Weaker Than Expected Non-Farm Payrolls
XAU-USD jumped more than 1.5% on Friday in response to the actual Non-Farm Payrolls data missing expectations in the US. The yellow metal closed last week at $1173.06. The reading for January showed that the US economy only added 151,000 jobs versus the consensus forecast of 190,000 and a lot lower than December’s reading of 262,000. Weak job growth in the US has unnerved investors and benefitted the gold price. Recent worries about global growth have also added to bullish momentum in the yellow metal. Slowing job growth will reduce the prospects of another interest rate hike from the Federal Reserve in March and the latest employment repor...
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