Traders Finally Don The Caps
Well it finally happened. Dow 20K, that is. And yes, there were hats – lots of hats. Photo Credit: WSJ.com After struggling with the big, round number since the middle of December, the venerable Dow Jones Industrial Average finally broke above the 20,000 level and closed Wednesday at a new all-time high of 2068.51. The […]
Basic Materials: Real Stuff Is Rising
I would like to update the Basic Materials sector as this area now looks like it’s ready to resume its bull market. Also with the stock markets breaking out today, especially the INDU, this adds another layer of confirmation that the breakout is the real deal. As we’ve discussed previously there are many big cap […]
Chicago Fed: Economic Growth Increased In December
“Index shows economic growth increased in December.” This is the headline for today’s release of the Chicago Fed’s National Activity Index, and here are the opening paragraphs from the report: Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.14 in December from –0.33 in November. Three of the four […]
E Market Briefing For Thursday, January 26
Technically-poised to breakout – Over the past several sessions (led by the NY Comp and NASDAQ, while Oil bears got trapped as hoped for), we got our forecast post-Inauguration ‘relief rally’ upside resumption we were pointing to with recognition that most Indexes were already at new highs, with the achievement by the Dow Industrial Average […]
Ford Motor Company Beats On Sales, Blackstone Group LP Tops Earnings Estimates
Ford (F) and Blackstone (BX) released their latest earnings reports before opening bell this morning. Ford posted adjusted earnings of 30 cents per share on $38.7 billion in sales. Analysts had been expecting 31 cents per share and $34.99 billion in revenue. Blackstone reported profits economic net income of 68 cents per share or $1.6 […]
Dow 20,000 Is Here: What Professional Investors Say Comes Next
After over a month of foreplay, Dow 20,000 is in the rearview mirror. And yet in retrospect, it didn’t take long. Deutsche Bank’s Jim Reid looks at how Dow numbers were first achieved and how long it took between each 1000 increment. Firstly the Dow only hit 1000 for the first time in January 1987. […]
EUR/USD Slips Below Support As The USD Reasserts Itself
The US dollar is making a comeback after the Trump Slump or Trump Dump. Fresh optimism about deregulation? Rising stocks? In any case, the US dollar is on the rise. US jobless claims were expected to rise back to 247K but actually jumped to 259K, worse than expected. Will this hurt the momentum of the greenback? The indicator […]
January 2017 Initial Unemployment Claims Rolling Average Continues To Improve
The market expectations for weekly initial unemployment claims (from Bloomberg / Econoday) were 244 K to 250 K (consensus 247,000), and the Department of Labor reported 259,000 new claims. The more important (because of the volatility in the weekly reported claims and seasonality errors in adjusting the data) 4 week moving average moved from 247,500 […]
E Daily Markets Forecast Outlook – Thursday, Jan. 26
Thursday Market Commentary – January 26, 2017 Stocks Hold to Buy Near Term – The major market indexes all gapped higher yesterday with the Dow has now hitting new highs and forecasted still slightly higher near-term but watch out for a correction anytime now on all the indexes that would be similar to the correction that […]
