Category Archive: Finance
Final Second Quarter “GDPNow” Forecast 2.4% Vs. Bloomberg Consensus 2.9%
The Atlanta Fed second quarter GDPNow final estimate came in at 2.4%. The second quarter GDP official “advance” estimate from the BEA is due out Thursday, July 30 along with the annual revision of the National Income and Product Accounts (NIPA). The Bloomberg Consensus Estimate for second quarter GDP is 2.9%, a half percentage-point higher than the Atlanta Fed […]
Thoughts From The Frontline: Europe: Running On Borrowed Time
“I am sure the euro will oblige us to introduce a new set of economic policy instruments. It is politically impossible to propose that now. But some day there will be a crisis and new instruments will be created.” – Romano Prodi, EU Commission president, December 2001 Prodi and the other leaders who forged the […]
5 Worst Performing ETFs Of Last Week
The U.S. stock market suffered its worst week (ending July 24) in months thanks to disappointing earnings results, especially from Apple (AAPL), Caterpillar (CAT) and International Business Machines (IBM) as well as a string of bleak sales or earnings outlook (read: 4 ETFs to Watch Post IBM 2Q Results). This is especially true as total earnings […]
SP 500 And NDX Futures Daily Charts – Rinse-A-Matic
Stocks in the US continued to slide, in sympathy with China and a generally poor outlook for the world of real productivity and wealth. And in large part this is the rinse cycle of a wash-rinse stock market operation conducted by insiders that took US equity prices up to unsustainable levels in the first place. […]
July 2015 Texas Manufacturing Survey Manufacturing Activity Continues To Contract For Fifth Month
Of the four Federal Reserve districts which have released their July manufacturing surveys – two forecast weak growth and three are in marginal contraction. A complete summary follows. There was no market expections from Bloomberg this month. From the Dallas Fed: Texas factory activity declined slightly in July, according to business executives responding to the […]
Knife-Catching Hedge Fund Oil Bulls Dump Crude At Fastest Pace In 3 Years
Hedge Funds’ net long position in WTI Crude collapsed 27% (the biggest single ‘dump’ in over 3 years) ahead of the big plunge last week (and is now down almost 60% in the last month – the most since 2010). Part of a broader deflationary collapse in commodities, as Bloomberg reports, long positions dropped to a two-year […]
Witch Hunt Is On; Foolish Ideas On Stopping The Shanghai Carnage; US Bubble Will Burst Too
Nearly 1,800 stocks, over 60% of issues traded on the Shanghai and Shenzhen stock exchanges fell by the daily limit of 10% and were halted according to a Financial Times report. When contacted by the Financial Times, the China Securities Regulatory Commission refused to answer any questions. The amusing comment of the day comes from Zhu Ning, […]
Bear Of The Day: Allegheny Tech (ATI)
Allegheny Tech (ATI – Analyst Report) negatively preannounced their Q215 forecast due to difficult conditions for their Flat Rolled Products, and in the oil and gas markets as well. Further, declining nickel prices, and high imports of Asian stainless steel were additional headwinds for the company. To compound matters, these conditions do not appear to be alleviated anytime […]
Six Miners Dundee’s Joseph Fazzini Believes Will Weather The Storm
With ongoing volatility expected in the gold space, mostly owing to global economic weakness, investors should focus on quality gold names with three key attributes to weather the current metal price environment, explains Joseph Fazzini, vice president and senior analyst with Toronto-based Dundee Capital Markets. Fazzini says those attributes are low-cost, long-life assets; defensive balance […]
