Author Archive: Jeremy Parkinson
Progress In St. Petersburg
Expectations going into the OPEC monitoring meeting in St. Petersburg were low. The OPEC agreement to reduce output appeared to be fraying. June output appeared to have increased in several countries, and private sector estimates suggest output rose further in July. Russia expressed reluctance to extend the agreement further. Ecuador announced it would no longer participate […]
Blue Chip Stocks In Focus: Bank Of Nova Scotia
The financials industry is full of high-quality, blue chip stocks. Before showing you an example, it’s important to understand what a blue chip stock really is. There is no ‘formal’ definition of a blue chip stock that is widely accepted among financial professionals. The term is used to describe high-quality, economically durable companies that are likely […]
Existing-Home Sales: June Sales Slip
This morning’s release of the June Existing-Home Sales decreased from the previous month to a seasonally adjusted annual rate of 5.52 million units. The Investing.com consensus was for 5.58 million. The latest number represents a 1.8% decrease from the previous month and a 0.7% increase year-over-year. Here is an excerpt from today’s report from the National Association […]
S&P 500 And Nasdaq 100 Forecast – Monday, July 24
S&P 500 The S&P 500 has initially tried to rally during the session on Friday, but fell significantly to reach towards the 2460 level. However, we turned around to form a hammer and it looks as if the S&P 500 is still ready to continue to go higher. I believe that the market should then […]
FX COT Update: EUR Bulls Build Bigger Bets
This data references the period ending Tuesday, July 18th EUR/USD Non-Commercials increased their net long positions in the Euro last week buying a further 7.5k contracts to take the total position to 91k contracts. The Euro has been steadily bought over the last month as markets continue to shift their perspective in […]
V.F. Corp Up On Q2 Earnings & Sales Beat, View Raised
V.F. Corporation (VFC – Free Report) released second-quarter 2017 results, wherein both top and bottom lines exceeded our estimates and sales also grew year over year. Notably, sales marked its first positive surprise after posting four straight misses. The solid first-half results also encouraged management to raise its outlook for full-year 2017. The splendid quarter was well-received by […]
US Existing Home Sales Slide To 5.52 Million
Sales of existing homes came out slightly below expectations, 5.52 million against 5.58 million predicted. This is a drop of 1.8%. House prices are rising. The median price is up 6.5% y/y and the average price is up 4.9%. The US dollar is marginally lower in the aftermath of the announcement. The general trend remains […]
Billion Dollar Unicorns: Sales AI Startup Afiniti Considering IPO
With leading tech giants like Alphabet, Apple, and Amazon focusing more on artificial intelligence (AI), the sector is attracting much funding. According to CB Insights, over 550 startups using AI as a core part of their products raised $5B in funding in 2016. Afiniti is one such startup that has become a Billion Dollar Unicorn. Afiniti’s Journey […]
The End Of A Long Streak For The Nasdaq
I’m not a big fan of streaks when it comes to stocks I mean it is nice while it lasts, but like any financial instrument that is rallying, eventually there needs to be a pullback and on Friday you got one with a whopping 0.04% pullback on the Nasdaq. How amazing, right? That is the stock market […]
A Bull Market Until Proven Otherwise
Good Monday morning and welcome back to the land of blinking screens. Global growth, the Trump/Russia situation, oil, the upcoming Fed meeting, and the greenback are in focus to start the week. On the growth front, the euro area Markit PMI fell to 55.8 in July, which is the weakest reading in six months. Next […]
