Financial Review

Sinclair Noe talks with Gary Burnison, author of “Lose the Resume, Land the Job” The post Gary Burnison appeared first on Eat the Bankers.com.

…PPI mild. Retail sales slip. Inventories tighten. China talks retaliation. Theranos fraud. Equifax insider busted. Ford recall Toys R Us closing. Groceries delivered. Happy Pi Day. Financial Review by Sinclair Noe for 03-14-2018   DOW – 248 = 24,758 SPX – 15 = 2749 NAS – 14 = 7496 RUT – 7 = 1584 10 Y – .03 = 2.82% OIL + .22 = 60.93 GOLD – 1.70 = 1325.20   Stocks started the session slightly higher, following some fairly benign economic reports. In afternoon trading, the Dow dropped more than 300 points. The Nasdaq wavered between positive and negative. The Nasdaq Composite Index returned to record levels earlier this week, erasing all the losses it suffered in a recent decline. On an inflation-adjusted basis, the Nasdaq’s recent peak allowed it to finally surpass 5,048, the record it touched at the top of the dot-com bubble in March 2000. It hit that milestone in late February and subsequently exceeded it, though it has since pulled back a bit. Adjusted for inflation, the Nasdaq is only 2.0% above the peak i

…Rexit. Qualcomm-Broadcom toast. CPI mild. UK v. Russia. Tech slips. Home prices higher. VW goes electric. Financial Review by Sinclair Noe for 03-13-2018   DOW – 171 = 25,007 SPX – 17 = 2765 NAS – 77 = 7511 RUT – 9 = 1592 10 Y – .02 = 2.85% OIL – .51 = 60.85 GOLD + 3.30 = 1326.90   Three major stories today, not necessarily in chronological order: Secretary of State Rex Tillerson was fired; the Qualcomm-Broadcom deal is toast; and inflation is back but not a big problem.   Trump fired Secretary of State Rex Tillerson this morning in a tweet. Trump said he is nominating CIA director Mike Pompeo as Tillerson’s replacement, which requires confirmation by the Senate. Trump has tapped Gina Haspel to head the CIA. Haspel, the current deputy director, is a career agency employee who once ran a CIA ” black site” facility in Thailand where detainees were subjected to torture including waterboarding. Tillerson is the second Cabinet official to resign, following former Health and Human Services Secretary Tom Price, who

…Nasdaq hits a record. Dow drops. Tech-chips lead the way. Broadcom-Qualcomm-Intel. Federal deficit grows. Waiting on inflation. Yahoo hack implications. Goldman succession. Dropbox IPO a go. Aramco IPO on hold Financial Review by Sinclair Noe for 03-12-2018 DOW – 157 = 25,178 SPX – 3 = 2783 NAS + 27 = 7588 RUT + 3 = 1601 10 Y – .02 = 2.87% OIL – .66 = 61.38 GOLD – .50 = 1323.60 Early trading saw the Dow Industrial Average up a little over 100, only to slide and close down 157. Boeing and Caterpillar were the biggest decliners on the Dow. Boeing lost 2.6 percent, and Caterpillar fell 2.3 percent. Both stocks would have problems with steel and aluminum tariffs which could increase costs and hamper sales abroad. Trump last week softened his stance on tariffs by exempting Canada and Mexico, but negotiations are ongoing as the European Union and Japan also seek exemptions. The big multinational, industrial companies of the world are all taking a hit on the concern that they will be the targets of reprisal sanctio

…Economy adds 313,000 new jobs. Unemployment rate 4.1%. Wages barely budge. Wall Street loved the numbers. Financial Review by Sinclair Noe for 03-09-2018 DOW + 440 = 25,335 SPX + 47 = 2786 NAS + 132 = 7560 RUT + 25 = 1597 10 Y + .03 = 2.89% OIL + 1.64 = 61.76 GOLD + 1.80 = 1324.40   The economy added 313,000 new jobs in February, the biggest gain in a year and a half. The unemployment rate was unchanged at a 17-year low of 4.1%. The increase in hiring easily surpassed estimates of 200,000 to 220,000. The economy added 54,000 more jobs in January and December than previously reported. Altogether, the economy has gained an average of 242,000 new jobs in the past three months. That’s much stronger than the 182,000-monthly average in 2017. The February year-over-year gain was 2.28 million jobs. The economy has now added jobs for 89 straight months – that’s a record.   Despite the big increase in hiring, wage growth did not keep up. The average hourly wage grew by 0.1 percent. It grew by 0.3 percent in January. H

…Tariffs signed – 25% steel, 10% aluminum – Canada & Mexico get a reprieve. TPP signed – minus US. Cigna buying Express Scripts. Tomorrow is 9-year anniversary of market bottom – tech has been the leader in the bull market. Financial Review by Sinclair Noe for 03-08-2018 DOW + 93 = 24,895 SPX + 12 = 2738 NAS + 31 = 7427 RUT – 2 = 1571 10 Y – .02 = 2.87% OIL – .82 = 60.33 GOLD – 3.10 = 1322.80   Trump has signed a proclamation ordering tariffs of 25% on imported steel and 10% on aluminum. Canada and Mexico will be excluded for now, as the U.S. discusses its national security relationships and the North American Free Trade Agreement with both countries. Tariffs could be modified for other countries, such as Australia, which Trump called a “long-term partner” at a cabinet meeting. The tariffs will go into effect 15 days. The tariffs are being implemented by proclamation, under a law that allows action to defend national security; both materials are considered critical to the U.S.’s defense industrial base. The t

Sinclair Noe talks with author Peter Cohan about his new book,” Startup Cities: Why Only a Few Cities Dominate the Global Startup Scene and What the Rest Should Do About It” The post Peter Cohan – Startup Cities appeared first on Eat the Bankers.com.

…Gary Cohn resigns, markets pout. Mexico and Canada might get tariff carve-outs. Beige Book shows growth and (gulp) inflation. BOJ hold pat, sorta. Consumer borrowing slows. Trade deficit jumps. Crypto exchange must register. Financial Review by Sinclair Noe for 03-07-2018   DOW – 82 = 24,801 SPX – 1 = 2726 NAS + 24 = 7396 RUT + 12 = 1574 10 Y + .01 = 2.88% OIL – 1.25 = 61.35 GOLD – 9.30 = 1325.90   Late yesterday, Gary Cohn resigned as the White House Chief Economic Advisor. Stocks cratered this morning – and it was a global downturn. The Dow Industrials dropped more than 300 points earlier but pared losses. Seems like a bit of an over-reaction. Sometimes markets disconnect from fundamentals, or just throw a bit of a temper tantrum, but this goes to bigger problems. There seems to be a shrinking pool of mainstream economists in the administration. And there has been unusually high turnover of all sorts of jobs in the White House. And there is a threat of possible trade wars. Cohn, a former president of Goldm

…More tariff idiocy. Factory orders fall. Uber driving trucks with no drivers in Arizona. Blackberry has patents. CVS junky. Off Target. Fresh Royale with Cheese. Washington state challenges net neutrality.   Financial Review by Sinclair Noe for 03-06-2018   DOW + 9 = 24,884 SPX + 7 = 2728 NAS + 41 = 7372 RUT + 16 = 1562 10 Y un = 2.88% OIL – .11 = 62.46 GOLD + 14.40 = 1335.20   February was bad. TrimTabs reports funds that focus on domestic equities saw investors withdraw $41 billion during the month. Global funds went in the other direction, attracting $17 billion even though stock markets abroad fared even worse than in the U.S.   Republican lawmakers stepped up calls today to pull back from proposed tariffs on steel and aluminum imports as Senate Majority Leader Mitch McConnell added to criticism of the measures, saying they risked igniting a trade war and damaging the U.S. economy. Earlier today, House Speaker Paul Ryan criticized the proposed 25 percent duty on steel and 10 percent on aluminum as too br

…Stocks rebound from bad week. Tariffs as a political show. German and Italian elections. ISM stays strong. 3-month T-bills strong auction. Sorting out crypto plans. Qualcomm v. Broadcom. Financial Review by Sinclair Noe for 03-05-2018 DOW + 336 = 24,874 SPX + 29 = 2720 NAS + 72 = 7330 RUT + 12 = 1546 10 Y + .02 = 2.88 OIL + 1.36 = 62.61 GOLD – 2.80 = 1320.80   Stocks started the session in negative territory. In the first few minutes of trade, the Dow was down about 130 points. Last week, stocks posted hefty losses, with the Dow dropping 3% and notching its fourth-straight-session loss on Friday. The S&P 500 shed 2% for the week and the Nasdaq declined 1.1%.   This morning, Trump signaled that his hastily announced tariffs on steel and aluminum may not be implemented, at least for Canada and Mexico, if a “fair” NAFTA agreement is negotiated. Trump tweeted: “Tariffs on steel and aluminum will only come off if new & fair NAFTA agreement is signed.” While Trump has regularly railed about China’s trade practices

Sinclair Noe talks with Anthony Nieves, Chair of the Institute for Supply Management Non-Manufacturing Business Survey Committee. February NMI registered 59.5%. The post Anthony Nieves appeared first on Eat the Bankers.com.

…Bad week for stocks. A trade war would be good and easy. Not so much. Financial Review by Sinclair Noe for 03-02-2018 DOW – 70 = 24,538 SPX + 13 = 2691 NAS + 77 = 7257 RUT + 25 = 1533 10 Y + .05 = 2.86% OIL + .39 = 61.38 GOLD + 4.90 = 1322.90 You’ve heard the old poem that March roars in like a lion and out like a lamb. March roared in like a mangey lion. For the week, the major indices were sickly. Oil stumbled. After much ado, bonds went nowhere.   The Dow and the S&P 500 moved below their respective 50-day moving averages this week and struggled to find support. Short-term, the S&P 500 has support around today’s low of 2647. If the S&P does not hold support, around 2647 to 2639, then the next level of support is a re-test of the Feb 8 low of 2580. I told you that it was unlikely the market would just bounce off the Feb 8 lows in a V pattern. It now looks like a retest is possible. If we can find support near or above 2580 (the close on Feb. 8) to around 2530 (the intraday low on Feb. 9), we could be setti

Sinclair Noe interviews Roseann Lake, author of “Leftover in China: The Women Shaping the World’s Next Superpower” The post Roseann Lake appeared first on Eat the Bankers.com.

…Steel and aluminum tariffs. Fed might gradually hike 4 times. Manufacturing jumps. Construction spending flat. Wells Fargo – they just can’t stop. Financial Review by Sinclair Noe for 03-01-2018 DOW – 420 = 24,608 SPX – 36 = 2677 NAS – 92 = 7180 RUT – 5 = 1507 10 Y – .06 = 2.80% OIL – .33 = 61.31 GOLD – .80 = 1318.00   February might have been the cruelest month, but March is off to a nasty start.   Trump said the US will slap tariffs of 25 percent on steel and 10 percent on aluminum and expects to sign a formal order next week. He has said tariffs are needed to ensure fair trade for the US, with the Commerce Department arguing they’re necessary to protect the nation’s security. The S&P 500 Index slumped to session lows, US stocks for companies that consume the metals like Ford Motor and General Motors fell, while shares of US steel and aluminum producers jumped. Treasuries climbed as investors reacted to the news, even though tariffs might be considered inflationary. Canada, the biggest foreign supplier of

Sinclair Noe talks with Timothy Fiore, Chair of the Institute for Supply Management Manufacturing Business Survey Committee. The February PMI hits a 14 year high of 60.8%. The post Timothy Fiore – ISM appeared first on Eat the Bankers.com.

….Stocks down to finish a bad month. 4Q GDP revised lower. Pending home sales drop in January. Earnings season still strong. Dick’s Sporting Goods ends AR-15 sales. Spotify’s IPO. Financial Review by Sinclair Noe for 02-28-2018   DOW – 380 = 25,029 SPX – 30 = 2713 NA – 57 = 7273 SRUT – 24 = 1512 10 Y – .04 = 2.87% OIL – 1.48 = 61.53 GOLD + .10 = 1318.80   Today, stocks started strong and then cratered into the close. Fed Chairman Jerome Powell once again raised speculation of a more aggressive Fed. He told Congress that he’s more optimistic about the economy, which led some investors to anticipate four rate increases for 2018, up from three last year.   February was not a good month for Wall Street. The Dow suffered its biggest-ever one-day point loss on Feb. 5 – down 1175 – with an intraday decline of 1597. The Dow plummeted more than 3,200 points, or 12%, in just two weeks. On a total-return basis, the S&P 500 dropped about 2.7% on the month. That monthly drop represents the benchmark index’s first such dec

….Stocks fall as Powell is personally bullish. Consumer confidence up. Durable goods down. Case-Shiller home sales up. Infrastructure? Nahh. Comcast wants Sky. Financial Review by Sinclair Noe for 02-27-2018   DOW – 299 = 25,410 SPX – 35 = 2744 NAS – 91 = 7330 RUT – 22 = 1536 10 Y + .05 = 2.91% OIL – 1.07 = 62.84 GOLD – 15.20 = 1318.70 Jerome Powell deliver his first congressional testimony today as chair of the Federal Reserve. Yesterday we suggested that if Powell was really boring, it would be a big success. Turns out Powell had some interesting ideas on the economy and he is much more optimistic than most investors had imagined. Fed projections released in December pointed to policymakers’ forecasts of about three rate hikes for this year, after three rises in 2016 brought the official policy rate to a range of 1.25% to 1.5%. But Powell appears to have become substantially more upbeat about the nation’s economic prospects since December, following the new tax law and signs of strong overseas growth. Powel

…Wall Street rallies. New home sales slide. Waiting on Powell’s Fed testimony. Buffett’s pearls of wisdom. Fitbit not fit. GE has fallen. Financial Review by Sinclair Noe for 02-26-2018 DOW + 399 = 25,709 SPX + 32 = 2779 NAS + 84 = 7421 RUT + 10 = 1559 10 Y – .01 = 2.86 OIL + .46 = 64.01 GOLD + 4.60 = 1333.80   Today was just a solid start to the week. Most major indices were in positive territory from the opening bell and then added to gains. The yield on the 10-year Treasury note drifted lower.   The Commerce Department reported that new home sales slowed to a seasonally adjusted annual rate of 593,000 in January. January’s selling pace was 7.8% lower than in December, although that month was revised upward. It was 1% lower than January 2017, as well. At the current sales pace, it would take 6.1 months to exhaust available supply, a sign of a well-stocked market. The median sales price in January was $323,000, about 2.4% higher than in January 2017, but almost precisely matching the full-year average in 201

…Stocks higher. Fed sees full employment, except for people who will never get a job again. #BoycottNRA. Gates flips. Financial Review by Sinclair Noe for 02-23-2018   DOW + 347 = 25,309 SPX + 43 = 2747 NAS + 127 = 7337 RUT + 19 = 1549 10 Y – .05 = 2.87% OIL + .80 = 63.57 GOLD – 3.20 = 1329.20 Today, stocks rally into the close; a turnaround from earlier in the week when stocks sold into the close. For the week, the Dow rose 0.37 percent, the S&P advanced 0.56 percent and the Nasdaq gained 1.35 percent.   Next week, Federal Reserve Chair Jerome Powell will go to Capitol Hill to deliver his first semi-annual Humphrey-Hawkins testimony. Today, the Fed’s Washington-based Board of Governors wrote in its semiannual report to Congress on monetary policy: “The economic expansion continues to be supported by steady job gains, rising household wealth, favorable consumer sentiment, strong economic growth abroad, and accommodative financial conditions. Upbeat business sentiment appears to have supported solid growth ove

…Stocks drop. Fed heads unconcerned. PR still dark. Goldman – tax cuts going to buybacks. Jobless claims down. Follow the gun money. Financial Review by Sinclair Noe for 02-22-2018 DOW + 164 = 24,962 SPX + 2 = 2703 NAS – 8 = 7210 RUT – 0.38 = 1531 10 Y – .03 = 2.92% OIL + .94 = 62.62 GOLD + 7.40 = 1332.40   Once again, we saw an early rally on Wall Street with some weakness into the close. Still, a solid gain for the Dow and the S&P 500 today, enough to snap a multiday skid. Both the Dow and the S&P are coming off two days of losses, and the Nasdaq has been down for 4 sessions.   Even though investors want to see an improving economy, they are demonstrating a heightened sensitivity to the prospect of accelerated inflation, rising interest rates, and higher bond yields. St. Louis Fed President James Bullard tried to tamp down the growing expectations of economists that the U.S. central bank will engineer four quarter-point rate increases this year, saying “The idea that we have to go 100 basis points in 2018,