Financial Review

….Stocks drop after FOMC minutes. 10-year note closes in on 3%. Home sales drop – no inventory. Small biz optimistic. No change in take home pay. ECB tomorrow. Apple hunting cobalt. Financial Review by Sinclair Noe for 02-21-2018 DOW – 166 = 24,797 SPX – 14 = 2701 NAS – 16 = 7218 RUT + 1 = 1531 10 Y + .05 = 2.94% OIL – .47 = 61.32 GOLD – 4.70 = 1325.00   Yesterday was a down day on Wall Street. This morning, stocks bounced back – the Dow climbed over 300 points, and then the Fed minutes were released. Poof. Gains evaporated but the major indices were clinging to positive territory, until the final 20 minutes of the session, when everything turned negative, fast. What terrible news was in the Fed minutes? Um, nothing. The minutes of the January 31st FOMC policy meeting simply confirmed previously stated Fed policy. The Fed is confident that the economy is gaining momentum, as a number of participants said they had marked up their growth forecasts since the previous month, encouraged by firm global growth and s

…Stocks drop. Weak bond sale. Staring down 3%. Watching the Fed. Walmart online disappoints. Amazon lurks. Albertsons buys (a moat) Rite Aid. Qualcomm sweetens NXP bid. Financial Review by Sinclair Noe for 02-20-2018   DOW – 254 = 24,964 SPX – 15 = 2716 NAS – 5 = 7234 RUT – 13 = 1529 10 Y + .02 = 2.89% OIL + .09 = 61.77 GOLD – 17.30 = 1329.70   The Dow and S&P 500 snapped a six-session winning streak. The Dow dropped below 25,000; at the low point of the session, the Dow was down about 335 points. The Nasdaq tried to turn positive in the final half hour, but no. And the S&P 500 dropped near levels of support and bounced, but not enough bounce to turn positive.   The U.S. Treasury today sold $179 billion of bills at yields unseen since 2008 as it works to rebuild its cash balance with record-sized sales of short-term securities. The government auctioned $51 billion of three-month bills at a yield of 1.64 percent, 6 basis points more than similar-tenor notes sold on Feb. 12, while $45 billion of six-month debt

…Indictments…. Financial Review by Sinclair Noe for 02-16-2018 DOW + 19 = 25,219 SPX + 1 = 2732 NAS – 16 = 7239 RUT + 6 = 1543 10 Y – .01 = 2.88% OIL + .31 = 61.65 GOLD – 6.10 = 1348.20   I am glad it is Friday. There has been an overload of news this week. Consider, there are reports back in 2006, Trump had an extra-marital with a Playboy Playmate, and that hush money was paid before the 2016 election. No, this is not Stormy Daniels, the porn actress, this is different. Ten years ago, or 20 years ago this would have been a huge story, now it barely gets a mention.   Let’s start with Wall Street.   One week from one of the most disastrous weeks of stock market trading, including two quadruple-point drops in the Dow, one of which was the index’s biggest point-drop in history, Wall Street squeezed out a gain on Friday to end higher for a sixth straight session. The Dow rose 4.25 percent for the week, its strongest weekly gain since November 2016. The Nasdaq rose 5.31 percent for the week, its best week since De

Interview with Dr. Wade Pfau, author of “How Much Can I Spend in Retirement?: A Guide to Investment-Based Retirement Income Strategies (The Retirement Researcher’s Guide Series)” The post Wade Pfau appeared first on Eat the Bankers.com.

..Stocks move higher again. PPI shows inflation at the wholesale level. Why the markets seemed to stop worrying about inflation. Financial Review by Sinclair Noe for 02-15-2018   DOW + 306 = 25,200 SPX + 32 = 2731 NAS + 112 = 7256 RUT + 15 = 1537 10 Y – .02 = 2.89% OIL + .89 = 61.49 GOLD + 3.10 = 1354.30   Stocks moved higher for a fifth consecutive session. Go figure   Wholesale prices shot up 0.4% in January, another sign that inflation is perking up. The 12-month rate of wholesale inflation rose a tick to 2.7% in January. The biggest culprit: higher oil prices. Yet a more stable measure known as core Producer Price Index, or core PPI, also rose 0.4%, suggesting price pressures are more widespread. The core rate strips out food, energy and trade margins — volatile categories that can distort the report from month to month. The yearly rate of core inflation edged up to 2.5%.   The National Association of Home Builders/Wells Fargo housing market index stayed at 72 in February. That’s a very strong reading, an

….Stocks post 4th day of gains. CPI shows inflation up 0.5%, yawn. Retail sales slip. Chipotle hot again. Cisco has revenue again. Fannie Mae in the red again. Uber, Buffett, Apple. SpaceX wants to launch broadband satellites. Financial Review by Sinclair Noe for 02-14-2018   DOW + 253 = 24,893 SPX + 35 = 2698 NAS + 130 = 7143 RUT + 27 = 1522 10 Y + .07 = 2.91% OIL + `1.50 = 60.69 GOLD + 20.90 = 1351.20   Stocks started the morning in the red, following a CPI report showing inflation. Investors shrugged off stronger-than-expected inflation data and snapped up shares of Facebook, Amazon.com and Apple. Facebook jumped 3.7 percent while Amazon.com and Apple both rose more than 1.8 percent. Since Thursday, the S&P 500 has surged 4.56 percent, its strongest four-session performance since mid-2016. The index remains down about 6 percent from its record high on Jan. 26. The CBOE Volatility index fell below 20 for the first time since Feb. 5. Treasury yields were higher, with the 10-year hitting 2.91% and the 2-year

Sinclair Noe interview with Doug Lennick and Ryan Goulart, co-authors of “Leveraging Your Financial Intelligence: At the Intersection of Money, Health, and Happiness” The post Doug Lennick, Ryan Goulart appeared first on Eat the Bankers.com.

…Stocks bounce. Infrastructure plan unveiled – how to pay remains a mystery. 2019 Budget unveiled – another mystery. GD buys CSRA. Wells credit cut. Unilever wants to clean up social media. Barnes & Noble cuts jobs, Amazon copies. Financial Review by Sinclair Noe for 02-12-2018 DOW + 410 = 24601 SPX + 36 = 2656 NAS + 107 = 6981 RUT + 13 = 1490 10 Y + .03 = 2.86% OIL + .12 = 59.32 GOLD + 6.80 = 1323.50   Last week stocks suffered the biggest losses in 2 years. All three indexes suffered weekly losses of at least 5%, the biggest since early 2016. The S&P 500 and the Dow entered correction territory on Thursday—defined as a decline of at least 10% or more from recent highs. Friday and today we had big back-to-back gains. The 30-stock Dow closed more than 1,000 points lower twice last week and rose more than 300 points in two other trading days. The S&P 500, meanwhile, posted moves greater than 1 percent in four-of-five trading days last week. There was no major economic data on the calendar today. The data highl

…Stocks bounce at the end of a very bad week. Another (short) government shutdown. Winners and losers Financial Review by Sinclair Noe for 02-09-2018   DOW + 330 = 24,190 SPX + 38 = 2619 NAS + 97 = 6874 RUT + 14 = 1477 10 Y – .02 = 2.83% OIL – 1.94 = 59.21 GOLD – 2.60 = 1316.70   Another wild day. The Dow Industrial Average started the session with about a 300-point gain, which turned into a loss, back to positive, then negative, then a big rally into the close. The intraday swings covered 1,000 points. The S&P 500 swung from as high as up 2.2 percent to down 1.9 percent. Call it a Maalox Friday.   We might be getting near some important levels of support. The 200-day moving average is an important indicator of the overall trend. You could make the claim that the wild trading of the past week is just a bout of long overdue volatility, but a break below the 200-day moving average would indicate a change of trend, and likely lead to some program selling. The 200-day moving average for the Dow is at 22,792; the

…. Another crash, Dow down 1,032. This is turning into a real problem. Markets are panicky. Fear over inflation and higher rates, and maybe a currency war with China. Also, waiting on a budget deal. Meanwhile, we found a few (long) winners. … Financial Review by Sinclair Noe for 02-08-2018   DOW – 1,032 = 23,860 SPX – 100 = 2581 NAS – 274 = 6777 RUT – 44 = 1463 10 Y + .01 = 2.85% OIL – 1.37 = 60.42 GOLD + .20 = 1319.30   This past Monday, Black Monday, was the worst single day point loss for the Dow Industrial Average – down 1,175. Today was close. And I know that in percentage terms, this is not the worst decline, but in real dollar terms, we have a problem.   Again, we saw a sharp sell-off in the final couple of hours, a more than 600-point decline. The Dow Industrials did not take out the lows from Tuesday at 23,778 – so that is a level of short-term support. The Dow has now wiped out all the gains going back to the end of November; and is down more than 10% from record highs – meaning we are in correction

…More wild swings, Dow nosedives into the close. Senate has a 2-year budget deal, the House is next. Conventional wisdom and the market crash. Oil dips on production boom. SpaceX launch, Tesla loss. Consumer borrowing surge. Financial Review by Sinclair Noe for 02-07-2018   DOW – 19 = 24,893 SPX – 13 = 2681 NAS – 63 = 7052 RUT + 0.80 = 1507 10 Y + .08 = 2.84% OIL – 1.93 = 61.46 GOLD – 5.40 = 1319.30   After Black Monday, a turnaround Tuesday, you just knew today would be a little weird. The Dow Industrial Average broke through the 25,000 milestone… again. While Wednesday’s trading lacked the wild swings of the prior two sessions, the Dow industrials moved in a more than 500-point range, more than three times the average daily swing over the past year. In the final half-hour of trading the Dow surrendered a 250-point gain; an ugly finish to a weird day. The Nasdaq could not get out of negative territory.   The Senate has cobbled together a bipartisan two-year budget deal to raise federal spending by almost $30

….Stocks rebound in another wild ride. Overseas markets tumble. Volatility comes roaring back. Waiting on another shutdown. Financial Review by Sinclair Noe for 02-06-2018 DOW + 567 = 24,912 SPX + 46 = 2,695 NAS + 148 = 7115 RUT + 16 = 1507 10 Y – .03 = 2.77% OIL – .23 = 63.92 GOLD – 15.30 = 1324.70   The original trigger for the equities sell-off was a sharp rise in U.S. bond yields late last week after the jobs report data showed U.S. wages increasing at the fastest pace since 2009. That raised the alarm about higher inflation and, with it, potentially higher interest rates. The Dow Industrials dropped 666 points on Friday. Yesterday, the Dow dropped nearly 1,600 points in the “biggest intraday decline in history” and closed down 1175 points, the biggest single day point loss in history. The 4.6% plunge was the index’s worst day since August 2011 and knocked it into the red for the year. On a percentage basis, the losses didn’t even crack the Top 20, but the losses were still significant. You could have wor

….Stocks crash. Worst point decline ever. 2018 gains wiped out. Financial Review by Sinclair Noe for 02-05-2018   DOW – 1,175 = 24,345 SPX – 113 = 2648 NAS – 273 = 6967 RUT – 52 = 1495 10 Y – .06 = 2.79% OIL – 1.71 = 63.74 GOLD + 7.10 = 1340.00   Well, now we know what happens when the Eagles win the Super Bowl.   After a 666 smackdown on Friday, the Dow Industrial Average opened down 355 points; followed by a little bit of buying that wiped out the session losses, but never enough to turn the tide. As the trading day dragged on, buyers retreated. As the Dow moved below its 50-day moving average, support collapsed, and the floor fell out of the market in programmed trading on heavy volume. The Dow briefly dipped to 23,923 – marking a 1597-point drop from the Friday close, and marking the biggest intraday point drop in Dow history, and sending the Dow down 2693 points from the recent record high on Jan. 26 – in other words, more than a 10% correction from the high. The Dow Jones Industrial Average wiped out al

The Institute for Supply Management Non-manufacturing index hit a 13-year high of 59.9 in January. Anthony Nieves, ISM Chair provides analysis. The post Anthony Nieves – ISM appeared first on Eat the Bankers.com.

…Stocks slammed. 200,000 new jobs in Jan. 4.1% unemployment rate. Treasuries pop on signs of wage growth. Financial Review by Sinclair Noe for 02-02-2018   DOW – 665 = 25,520 SPX – 59 = 2762 NAS – 144 = 7240 RUT – 32 = 1547 10 Y + .08 = 2.85% OIL – .36 = 65.44 GOLD – 16.40 = 1332.90   Wall Street cratered on a strong jobs report. I don’t mean to sound alarmist, but when the Dow drops this much in one day, it is significant even if it is only a 2.56% decline, which marked the biggest percentage decline since Brexit. Still, on a point basis, Black Monday, October 19, 1987 was a 507-point decline in the Dow. Also, this was the biggest single day drop for the Dow since October 2008, when the Troubled Asset Relief Program didn’t pass.   Markets moved lower on the jobs reports and then cratered with the release of the “memo” from House Intel Head Devin Nunes. The memo does not exonerate Trump, and if he tries to use it as justification to fire more people from the DOJ or FBI, such a move will likely backfire badly.

….Big earnings announcements from Apple, Alphabet, Amazon, Alibaba, and others. ISM manufacturing stays strong. Automakers January sales results. Productivity slips. Cape Town runs out of water. Financial Review by Sinclair Noe for 02-01-2018 DOW + 37 = 26,186 SPX – 1 = 2821 NAS – 25 = 7385 RUT + 4 = 1579 10 Y + .05 = 2.77% OIL + 1.33 = 66.06 GOLD + 3.30 = 1349.30   January was the best month for the Dow since March 2016, while the Nasdaq composite had its biggest one-month gain since October 2015. The S&P 500 gained 5.6%, its best January performance since 1997. There is an old saying on Wall Street – as January goes, so goes the year. This refers to the January Barometer. Since 1980, the January Barometer has correctly predicted the S&P 500’s year-end direction 68 percent of the time. Past performance is not a guarantee of future results.   Today, the major indices started in negative territory, then started to rally, only to fade into the close. After the closing bell we saw several major tech firms post e

Timothy Fiore, Chair of the Institute for Supply Management Manufacturing Business Survey Committee. Dec PMI at 59.1. The post Timothy Fiore – ISM Manufacturing appeared first on Eat the Bankers.com.

…State of the Uniom review. Fed FOMC, Yellen’s last. ADP jobs beat. Earnings: Microsoft, Facebook, AT&T, Qualcomm, Boeing. Financial Review by Sinclair Noe for 01-31-2018   DOW + 72 = 26,149 SPX + 1 = 2823 NAS + 9 = 7411 RUT – 7 = 1574 10 Y – .01 = 2.72% OIL + .36 = 64.86 GOLD + 6.90 = 1346.00 As Wall Street opened for trading this morning, the Dow Industrial Average bounced from 2 consecutive losing sessions; early on, the Dow was up about 260 points. The initial enthusiasm did not last, and the Dow trickled lower. Shortly after the Federal Reserve released its statement on the FOMC monetary policy meeting, the trickle turned into a downpour and the Dow turned negative.   Last night was the State of the Union speech. On immigration, Trump outlined a four-point proposal that includes both a path to citizenship for people who entered the US illegally as minors and an end to the so-called chain-migration policy, which allows immigrants to sponsor extended-family members. The plan is unlikely to result in a deal

….Stocks drop hard and fast. Amazon, Berkshire, and JPMorgan are doing something with healthcare; nobody knows what, but it is big. Healthcare shares tumble. Earnings disappoint. Apple under investigation. Consumer confidence up. Home prices inch higher. Nyet to Russian sanctions. Crypto continues to unravel. Financial Review by Sinclair Noe for 01-30-2018   DOW – 362 = 26,076 SPX – 31 = 2822 NAS – 64 = 7402 RUT – 15 =1582 10 Y + .03 = 2.73% OIL – 1.18 = 64.38 GOLD – 1.80 = 1339.10 It was just ugly. At one point, the Dow was down 411 points. Remember the Dow dropped 177 points yesterday. The slide marked stocks’ weakest two-day performance in at least six months. The administration has just passed a deficit-funded tax cut and is looking to deregulate the financial sector. They’re piling that atop a system that’s awash in liquidity. There is a chance that this kind of stuff might be a bit inflationary. At least that is the thinking in the bond market. Yield on the 10-year Treasury note has jumped to 2.73%; tha

Sinclair Noe interview Jay Conger, co-author of  “The High Potential’s Advantage: Get Noticed, Impress Your Bosses, and Become a Top Leader” The post Jay Conger appeared first on Eat the Bankers.com.