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Archives by Year:
Eurozone Economy Sees A Small Contraction As Inflation Plunges
A drop in eurozone GDP keeps a small technical recession in the second half of 2023 a realistic prospect. With inflation falling faster than expected, the debate within the European Central Bank’s governing council is set to turn more dovish, but don’t expect rate cuts anytime soon.Image Source: Pixabay GDP decline is not meaningful, broad stagnation continues […]
Five Hot Earnings Charts
It’s another busy week in earnings season, with over 1100 companies expected to report, including many in the S&P 500. This is another key week on Wall Street. We’ll hear a lot about guidance for Q4 and beyond.So far, this earnings season has been solid. We’re not hearing doom and gloom from the companies, even […]
New Chip Restrictions Can Force Nvidia To Cancel $5B In Orders
Image Source: Pixabay Nvidia (Nasdaq: NVDA) fell 3.3% at the opening bell on Tuesday after a report revealed that the company may be forced to cancel $5 billion worth of AI chip orders designated for China. The move comes from newly imposed export restrictions on high-end AI chips to several countries of concern, particularly China. Alibaba, Baidu, TikTok Owner Among […]
CAT Earnings, Public Storage On Sale, Cameco, Fed Meeting
Heavy machinery maker Caterpillar (CAT) reported 3Q23 earnings Tuesday morning and the stock is breaking down below its 200 DMA at the open. While sales of $16.8 billion beat estimates and increased by 12% compared to a year ago, investors may have been expecting more. Like Federal Express, CAT is thought by many investors to […]
Net Short No More
In last night’s Closer, we discussed the latest positioning data from the weekly Commitments of Traders report published by the CFTC. Released last Friday with data as of the prior Tuesday, the report would have captured October options expiration, and likely thanks to this, there were a number of significant changes to positioning across assets. As […]
S&P 500 Earnings Dashboard 23Q3 – Tuesday, Oct. 31
Image Source: Pexels S&P 500 Aggregate Estimates and Revisions The 23Q3 Y/Y blended earnings growth estimate is 4.9%. If the energy sector is excluded, the growth rate for the index is 10.3%. Of the 279 companies in the S&P 500 that have reported earnings to date for 23Q3, 78.5% reported above analyst expectations. This compares to a long-term average of 66%. The 23Q3 Y/Y blended revenue growth estimate is 1.4%. If the […]
Gold Price’s Suspicious Daily Rally
Gold futures finally closed above $2,000, but if one is betting on the rally’s continuation, it’s too early to open that champagne.There are a few things about yesterday’s move higher that make it suspicious. Two of them are visible directly on gold’s chart. The yellow precious metal moved above the late-July high and… It failed […]
Stocks Sporting Muted Losses As October Winds Down
Stocks are inching lower, with all three major indexes on track for their third-straight losing months. The Dow Jones Industrial Average (DJI) is making the largest move midday with a minor 30-point swing lower. Meanwhile, the October consumer confidence index reading fell to a five-month low of 102.6 amid geopolitical and inflation concerns. Pinterest Inc […]
Bottoming Before FOMC?
S&P 500 turned up, opening with a bullish gap, but that wasn‘t any surprise for clients. What is a show of short-term resilience, is no steep upswing in yields complemented by decline in stocks, upon BoJ yield curve control adjustment. Also the USDJPY move if yen‘s favor was completely erased, indicating that rumors of abandoning yield curve […]
Case-Shiller Home Prices Climb Another One Percent As Bubble Expands Further
Existing home prices climb another one percent in August according Case-Shiller data released today. Case-Shiller lags but it’s the best measure of home prices readily available. Case-Shiller, OER and CPI data from St. Louis Fed, chart by Mish Chart Notes National and 10-City Case-Shiller home prices hit new record highs in August. OER, CPI, and Rent […]
