Financial Review

…More on tariffs. Individual stocks resist tweet attacks. Amazon’s R&D. Dimon’s letter. Lula’s sentence. Financial Review by Sinclair Noe for 04-05-2018 DOW + 240 = 24,505 SPX + 18 = 2662 NAS + 34 = 7076 RUT + 11 = 1542 10 Y + .04 = 2.83% OIL + .36 = 63.73 GOLD – 6.60 = 1326.20   Yesterday’s bounce continued today. On Tuesday evening, the Trump administration announced 25% tariffs on more than 1,000 industrial technology, transport, and medical products amounting to about $50 billion in 2018 imports. China swiftly countered with proportional tariffs of up to 25% on more than 100 U.S. goods. The latest move followed a previous round of reciprocal tariffs worth about $3 billion. These might be considered the early skirmishes of a potential trade war, but it is a war the US should avoid because China has a couple of advantages. First, China is still an authoritarian government with a long-term economic outlook. President Xi Jinping no longer has term limits. He’s going to be there long after Trump is gone. Trump

…China responds to US tariffs. Markets tumble, then recover, for now. Tariff losers and losers. Implications for global markets and central banks. Troops sent to the border. Nafta wiggle. Facebook breach grows. Financial Review by Sinclair Noe for 04-04-2018   DOW + 230 = 24,264 SPX + 30 = 2644 NAS + 100 = 7042 RUT + 19 = 1531 10 Y un = 2.79% OIL + .05 = 63.56 GOLD + .60 = 1333.80   China is planning to retaliate against the US in an escalating trade conflict. China will impose tariffs on more than 106 American products with a combined trading value of over $50 billion. U.S. farmers, plane- and automakers are likely to bear the brunt. The nation wasted no time firing back, making their announcement just hours after Trump made similar proposals on Chinese products. The news hit stock markets hard this morning. The Nasdaq Comp dropped 2.1% intraday. The S&P 500 was down 1.6%. The Dow Industrials slid 2.1%, or 510 points.   Trump’s list was notable for how hard it worked to minimize the pain felt by American con

Anthony Nieves, Chair of the Institute for Supply Management Non-Manufacturing Business Survey Committee. The March NMI registered 58.8 percent, down slightly from February. The post Anthony Nieves – ISM appeared first on Eat the Bankers.com.

…Stocks bounce. Waiting on earnings and data. John Williams scores NY Fed post. OK teachers walkout. Home prices accelerate. Auto sales up in March. EPA makes a stand for dirty air. Spotify debuts. Trump v. Amazon – round 4. Atlanta hacked. Financial Review by Sinclair Noe for 04-03-2018 DOW + 389 = 24,033 SPX + 32 = 2614 NAS + 71 = 6941 RUT + 19 = 1512 10 Y + .05 = 2.78% OIL + .56 = 63.57 GOLD – 8.60 = 1333.20   Stocks bounced today, following a 450-point loss yesterday for the Dow Industrials and a 58-point loss for the S&P that pushed that index below its 200-day moving average. A bounce was expected but the question is whether a rally can be sustained. Today’s rebound was not matched by higher volume. Part of the reason for the recent volatility is that most stocks are in a quiet time – just before first quarter earnings are announced, companies clam up. Rather than sales, orders and profit margins, things such as politics and the economic data can take on more relevance. During this quiet time, the bears

…Major stock indices suffer technical breakdown. Trade wars backfire. Easter tweets against DACA, NAFTA, and Amazon. Apple will dump Intel. ISM slips. Construction spending flat. Yield curve flatter. Crude slide. EPA CAFÉ battle. Financial Review by Sinclair Noe for 04-02-2018 DOW – 458 = 23,644 SPX – 58 = 2581 NAS – 193 = 6870 RUT – 36 = 1492 10 Y  – .01 = 2.73% OIL – 2.09 = 62.85 GOLD + 15.80 = 1341.80 This is looking very ugly. The S&P 500 was down 2.2% to start the second quarter. It was the worst opening day for the second quarter since 1929.  We were telling you that the S&P 500 was trading above its long-term support. About 10 days ago, we said it was likely the S&P would hover just above support heading into the end of the quarter – and that happened. We are now in the second quarter, and we saw the breakdown today. The 200-day moving average for the S&P 500 is 2589. The intraday low for the S&P was 2553, and we closed at 2581 – definitely below the 200-day moving average. This is the first time the S

. .. Timothy Fiore, Chair of the Institute for Supply Management Manufacturing Business Survey Committee helps us analyze the report. The post Timothy Fiore – ISM appeared first on Eat the Bankers.com.

Sinclair Noe interviews Simon Targett, co-author of “New World, Inc.: The Making of America by England’s Merchant Adventurers” The post Simon Targett appeared first on Eat the Bankers.com.

…March and first quarter wrap up. Consumer sentiment still high, spending moderates. Emoluments. Trump v. Amazon. Windows to clouds. Financial Review by Sinclair Noe for 03-29-2018 DOW + 254 = 24,103 SPX + 35 = 2640 NAS + 114 = 7063 RUT + 16 = 1529 10 Y – .03 = 2.74% OIL + .52 = 64.90 GOLD + .60 = 1326.00   Major U.S. markets will be closed for Good Friday. The Easter weekend, including Easter Monday on April 2, also coincides with Passover this year, which begins on Friday. most European exchanges will also remain shut for Easter Monday.   So, we can wrap up the week, the month of March, and the first quarter. For the week, the Dow rose 2.6%, while the S&P added 2.1% and the Nasdaq was up 1%. For the month of March, all three saw steep declines, with the Dow off 3.5%, the S&P 500 off 2.7% and the Nasdaq off 2.9% in its biggest monthly drop since January 2016. In the first quarter, during which time the Dow and S&P fell into correction territory, the Dow fell 2.3% and the S&P lost 1.2%. Both ended nine-quarte

…Stocks struggle to bounce off long-term support. Amazon under attack. Tesla’s debt problem. The bond market’s yield curve problem. Financial Review by Sinclair Noe for 03-28-2018 DOW – 9 = 23,848 SPX – 7 = 2605 NAS – 59 = 6949 RUT – 0.54 = 1513 10 Y – .01 = 2.78% OIL – .60 = 64.65 GOLD – 20.10 = 1325.40   Let’s start with the good news. The S&P 500 managed to close above its 200-day moving average. That support level has held for four straight days. The 200-day moving average stand at 2588 – just 17 points shy of today’s close. Any movement below the long-term trend line would trigger selling, and it could get ugly, fast. There is a good chance the S&P will continue to hover just above support heading into the end of the quarter. Next week, the calendar flips to April. The first three weeks of April are a popular time for companies to preannounce their earnings results and given the number of issues investors are looking for clarity on — including the impact from the recently passed tax bill, the prospect of

…Stocks flop in final hour, bouncing off support. More China trade concerns. Tech falters. Bears control Facebook. Brits investigate Cambridge Analytica. Self-driving tech hits the brakes. Financial Review by Sinclair Noe for 03-27-2018   DOW – 344 = 23,857 SPX – 45 = 2612 NAS – 211 = 7008 RUT – 30 = 1513 10 Y – .06 = 2.78% OIL – 1.22 = 64.66 GOLD – 8.70 = 1345.50   Stocks were in positive territory until the final hour or so of trade. The Dow was up 240 points earlier in the session. The Dow was down as much as 493 late in the session. The Dow is still trading above the 200-day moving average, which could be considered the long-term trend line at 23385. So, the Dow has not broken key support but it is looking weak. The 200-day moving average on the S&P 500 is at 2587, and we also have the Feb. 8 closing low of 2581 – this is the key level of support for the S&P. Don’t be surprised to see the 200-day moving average act as strong support; in other words, we could drift into the end of the quarter still trading

Sinclair Noe talks with Joel Solomon, author of “The Clean Money Revolution: Reinventing Power, Purpose, and Capitalism” The post Joel Solomon appeared first on Eat the Bankers.com.

…Stocks rebound on hopes of no trade war. Facebook under fire. Google facing Euro breakup. Remington BK. No crypto tweet. NY Fed’s Dudley bankers need to stop rewarding bad behavior. Financial Review by Sinclair Noe for 03-26-2018   DOW + 669 = 24,202 SPX + 70 = 2658 NAS + 227 = 7220 RUT + 33 = 1543 10 Y + .01 = 2.84% OIL – .39 = 65.49 GOLD + 6.40 = 1354.20   Last week was one of the worst weeks for stocks in years. Today was one of the best – the third best session in the History of the Dow, at least on a point basis. Last week, the US was talking about imposing stiff tariffs on Chinese goods, and China was talking about scaling back purchases of US Treasuries in response. And just as talk of another potential “Black Monday” was making the rounds, Steven Mnuchin of all people quelled the nerves.   The Treasury secretary said Sunday that he’s optimistic the U.S. can reach an agreement with China that will avert the need for Trump to impose tariffs on at least $50 billion of goods from the country. And just li

…Wall Street tumbles for the week, faces key levels of support. Trade war worries. Budget bill signed. New home sales drop. Dropbox IPO jumps. Facebook Sued. Bank of America fined. Financial Review by Sinclair Noe for 03-23-2018 DOW – 424 = 23,533 SPX – 55 = 2588 NAS – 174 = 6992 RUT – 33 = 1510 10 Y un = 2.81% OIL + 1.44 = 65.74 GOLD + 18.20 = 1347.80 This was an ugly week on Wall Street. All the gains of 2018 have now evaporated. The Dow is now down almost 1,200 points year-to-date, or right at 4%. The S&P 500 is down 2.75% year-to-date; it is within 3 points of the 200-day moving average; and is now sitting at almost the same level as the low of Feb. 8 – we may find support at this level, but any breach could lead to a big drop – so, it will be very important to see if this level holds on Monday. The Dow was down 11.6 percent since its Jan. 26 high, and hit its lowest close since confirming a correction in February. And just to be clear, the market has been in correction territory since early February, to

…Trump calls for tariffs on China. Chaos and selling ensues. House passes budget bill – nobody knows what is in it. Financial Review by Sinclair Noe for 03-22-2018   DOW – 724 = 23,957 SPX – 68 = 2643 NAS – 178 = 7166 RUT – 35 = 1543 10 Y – .08 = 2.83% OIL – .11 = 64.19 GOLD – 3.20 = 1329.60 The US will soon impose tariffs on billions of dollars of Chinese imports, a move that could eventually trigger a trade war. The tariffs, which function as a tax on imports, come in response to a Trump administration investigation into the China’s theft of US intellectual property, or IP. For instance, the country has forced businesses to move their patents to China or disclose their trade secrets to do business there. Trump will impose tariffs on imports of more than 100 different Chinese goods and hit industries from biopharmaceutical to robotics to rail equipment. A full list of products will be released in 15 days according to White House officials, which will give businesses time to petition for certain items to be e

..Fed hikes rates, hints at 3 more. Zuckerberg responds to Facebook breach. No real solutions. DC pols still working on budget bill. Home sales rise, inventories tight. Financial Review by Sinclair Noe for 03-21-201   DOW – 44 = 24,682 SPX – 5 = 2711 NAS – 19 = 7345 RUT + 8 = 1579 10 Y + .03 = 2.91% OIL + .41 = 65.58 GOLD + 21 = 1332.80   The Federal Open Market Committee of the Federal Reserve increased its benchmark interest rate target range by 0.25% to a new band of 1.5%-1.75%. This move puts the effective fed funds rate at around 1.63%, the highest since September 2008. All eight voting members of the FOMC voted in favor of Wednesday’s decision.   The Fed acknowledged an upgraded outlook for the economy by including an entirely new sentence in its statement which said, “The economic outlook has strengthened in recent months.” The statement noted, however, that, “Recent data suggest that growth rates of household spending and business fixed investment have moderated from their strong fourth-quarter readin

…More Facebook fallout. Waiting on the Fed. Protectionism semantics. Spending bill? Self-driving liability. Amazon in second place. Financial Review by Sinclair Noe for 03-20-2018 DOW + 116 = 24,727 SPX + 4 = 2716 NAS + 20 = 7364 RUT – 0.16 = 1570 10 Y + .03 = 2.88% OIL + 1.36 = 63.42 GOLD – 5.80 = 1311.80   Stocks bounced back, at least a little. Oil prices rose more than 2 percent to touch a three-week high, driven by tensions in the Middle East and the possibility of further declines in Venezuelan crude output. Facebook did not bounce. The Federal Trade Commission is probing Facebook over the use of personal data by an analytics firm tied to Trump’s campaign. The FTC is looking into whether Facebook violated terms of an earlier consent decree when data of up to 50 million of its users was transferred to Cambridge Analytica. For now, it’s just a probe. But you know how one thing leads to another. European and U.S. lawmakers calling for investigations. In the UK, Mark Zuckerberg is being called before Parlia

…Facebook breached by Cambridge Analytica; shares slammed. Uber autonomous car kills pedestrian in Tempe. SCOTUS: Dreamers can drive in AZ; Pennsylvania un-gerrymandered. AT&T-Time Warner case. Budget deal Friday deadline. Financial Review by Sinclair Noe for 03-19-2018 DOW – 335 = 24,610 SPX – 39 = 2712 NAS – 137 = 7344 RUT – 15 = 1570 10 Y – .01 = 2.84% OIL – .19 = 62.15 GOLD + 3.00 = 1317.60   Facebook stock was slammed today as American and British lawmakers demanded that it explain how a political data firm with links to Trump’s 2016 campaign was able to harvest private information from more than 50 million Facebook profiles without the social network’s alerting users. Over the weekend, The New York Times and The Observer of London reported that Cambridge Analytica, a political data firm founded by Steve Bannon and Robert Mercer, a wealthy Republican donor, had used the Facebook data to develop methods that it claimed could identify the personalities of individual American voters and influence their beha

…Industrial production up. Construction down. Consumer sentiment high. Jobs plentiful. Waiting on the Fed. Bracing for tariffs. Infrastructure hacks. AT&T-Time Warner court date. Wells Fargo, again. Anniversary of Bear Stearns collapse. Financial Review by Sinclair Noe for 03-16-2018   DOW + 72 = 24,946 SPX + 4 = 2752 NAS + 0.25 = 7481 RUT + 9 = 1586 10 Y + .02 = 2.85% OIL + 1.06 = 62.25 GOLD – 2.10 = 1314.60 Stocks moved higher today, and the S&P 500 snapped a 4-day losing streak, but for the week, the major indices posted losses. For the week, the Dow fell 1.57 percent, the S&P lost 1.04 percent, and the Nasdaq dropped 1.27 percent. Today was a quadruple-witching day, which refers to the simultaneous expiration of stock-index futures, stock-index options, single-stock futures and stock options. That led investors to brace for higher volatility, though price action proved relatively subdued. Volume was heavy.   Industrial production surged 1.1% in February, the strongest gain since last October. Manufacturin

Elizabeth Willard Thames talks about her new book, “Meet the Frugalwoods: Achieving Financial Independence Through Simple Living” The post Elizabeth Willard Thames – Meet the Frugalwoods appeared first on Eat the Bankers.com.

…Mueller subpoenas Trump Organization. Treasury sanctions Russian trolls. iHeart BK. Winn-Dixie BK. Congress wants to make life easier for bankers. Wells Fargo, again… Financial Review by Sinclair Noe for 03-15-2018   DOW + 115 = 24,873 SPX – 2 = 2747 NAS – 15 = 7481 RUT – 7 = 1576 10 Y + .01 = 2.83% OIL – .02 = 61.17 GOLD – 8.50 = 1316.70 It was just a strange day on Wall Street. The Dow Industrial Average snapped a 3-day losing streak but closing well off the session highs – the Dow had been up almost 300 points. McDonald’s gained 2.1% to lead the Dow stocks. Meanwhile, the S&P 500 and the Nasdaq dropped. The S&P 500 Index notched its longest losing streak of 2018 — four days. Two of four FANG stocks lost ground. Chip stocks moved lower. Pipeline stocks plunged after the Federal Energy Regulatory Commission ruled that master-limited partnerships can no longer recover a key income-tax allowance. New White House Economic Advisor-appointee Larry Kudlow signaled support for a strong dollar and took a tough line