Financial Review

…Nasdaq hits a record high. ECB dovish with plans to end bond buying. Why it matters. Looming risk – trade wars. Retail sales jump. Kentucky sues Walgreens. NY sues Trump Foundation. DOJ IG blames Comey. AT&T-Time Warner cleared. Financial Review by Sinclair Noe for 06-14-2018 DOW – 25 = 25,175 SPX + 6 = 2782 NAS + 65 = 7761 RUT + 8 = 1684 10 Y – .03 = 2.95 OIL + .38 = 67.02 GOLD + 3.10 = 1302.90   A subdued trading session led to mixed results with the Dow industrials lower but the broader market higher; good enough for the Nasdaq to set a record high close.   The European Central Bank did exactly what the markets expected – they left rates unchanged and announced a timetable for moving away from quantitative easing or ending its bond buying program by the end of the year. In a balanced announcement reflecting the uncertainties hanging over the economy, it signaled that any interest rate hike is still distant, maybe next year, maybe late next year. The cautious move to roll back stimulus contrasted with the

..Fed hikes rates 25 basis points. Two more hikes on tap for 2018. AT&T gets approval for acquisition of Time Warner. More M&A in the wings. Financial Review by Sinclair Noe for 06-13-2018 DOW – 119 = 25,201 SPX – 11 = 2775 NAS – 8 = 7695 RUT – 5 = 1676 10 Y + .02 = 2.98% OIL + .26 = 66.62 GOLD + 3.60 = 1299.80   The Federal Reserve increased the target range for its benchmark interest rate to 1.75%-2%. This is the second rate hike of the year and seventh since the financial crisis. The Fed had indicated that it would raise rates 3 times in 2018, but with today’s announcement they indicated they will probably raise rates 4 times (or 2 more times) this year, depending on data.   Fed Chairman Jerome Powell, speaking at a news conference after the Fed’s two-day meeting, said the economy has strengthened significantly since the financial crisis and is approaching a “normal” level where monetary policy may no longer be needed to either encourage or discourage economic activity. A statement released at the end of t

Sinclair Noe interviews Carmine Gallo, author of “Five Stars: The Communication Secrets to Get from Good to Great” The post Carmine Gallo – Five Stars appeared first on Eat the Bankers.com.

….G7 summit mess. Trump Kim summit next. Fed on Wednesday, with a possibility for change in direction. ECB on Thursday. Net neutrality is dead, for now. AT&T on the hunt. Burgers? Financial Review by Sinclair Noe for 06-11-2018 DOW + 5 = 25,322 SPX + 2 = 2782 NAS + 14 = 7659 RUT + 2 = 1674 10 Y + .02 = 2.96% OIL + .33 = 66.07 GOLD + 1.00 = 1301.00   Stocks opened modestly higher and managed to hold on for modest gains. Trading was confined to a fairly narrow range.   After a weekend that featured a kerfuffle at the G7 meeting, attention turned to Tuesday’s summit between Trump and North Korea’s Kim Jong Un, which actually starts in a couple of hours (Singapore is 12 hours ahead of Washington DC, so in Singapore 9 AM tomorrow is 9 PM East coast time today) And then, attention will shift to the Federal Reserve FOMC policy meeting, which wraps up on Wednesday.   The G7 economic summit ended without the US signing on to the communique. Trump disowned the agreement hours after leaving the gathering, launching a pe

…Stocks wrap a good week. Waiting on a G7 kerfuffle, and the Fed. Preexisting conditions, thrown under the bus. Apple shortfall. Supercomputers. Give me a B. Financial Review by Sinclair Noe for 06-08-2018 DOW + 75 = 25,316 SPX + 8 = 2779 NAS + 10 = 7645 RUT + 4 = 1672 10 Y un = 2.94% OIL – .36 = 65.59 GOLD + 2.20 = 1300.00 Stocks started the session in negative territory but inched higher through the trading day. For the week, the S&P rose 1.6 percent while the Dow added 2.7 percent and the Nasdaq gained 1.2 percent.   Worries about the relationship between the United States and its biggest trading partners rattled the broader market ahead of the G7 meeting in Canada. But hopes of any progress at the summit were already at rock bottom, so where does this go? Well, if the Twitter-verse is any indication, the G7 summit is looking like a slow-motion train wreck. Trump, Macron, and Trudeau have been exchanging barbs. Trump kicked off a day of meetings with America’s closest allies by defending his tariffs and ca

An interview with Armand Doucet, co-author of “Teaching in the Fourth Industrial Revolution: Standing at the Precipice” The post Armand Doucet – Teaching in the Fourth Industrial Revolution appeared first on Eat the Bankers.com.

…Stock rally stumbles. G7 could get testy. Remember tariffs on solar? ZTE deal. Facebook fumbles privacy, again. Buyback record. Household wealth record. Home prices and affordability. Financial Review by Sinclair Noe for 06-07-2018 DOW + 95 = 25,241 SPX – 1 = 2770 NAS – 54 = 7635 RUT – 8 = 1667 10 Y – .04 = 2.93% OIL + 1.20 = 65.93 GOLD +.90 = 1297.80   After a nice rally, the markets look a little vulnerable here. The Dow Industrial Average is up for 4 out of the past 5 sessions with a gain of more than 800 points over that time – still, you look at the Dow and see tremendous exposure to potential trade wars. The Nasdaq Composite and Russell 2000 are coming off of record high closes yesterday, but faltered today – and absent a breakout, you have to start looking for confirmation…, or levels of support. Perhaps the most concerning part of the market is the lack of concern with all the inconsistencies. The VIX, or volatility Index bounced a bit today, but it is coming off a more than four month low.   The S&P

..Stocks rally. Waiting on G7. Trade wars have a price. But the trade deficit dips. Productivity slides. Tesla pops. Expect higher plane tickets. Amazon’d. Financial Review by Sinclair Noe for 06-06-2018 DOW + 346 = 25,146 SPX + 23 = 2772 NAS + 51 = 7689 RUT + 11 = 1675 10 Y + .06 = 2.97% OIL – .54 = 64.98 Stock markets started the session strong and just got better throughout the day. The Nasdaq Composite and the Russell 2000 indices closed at record highs. The Dow and the S&P 500 closed at their highest levels since March 12. The Dow posted its best session in about 2 months. The Nasdaq is up 11.4% in 2018 while the Russell is up 9.2%. To compare, the Dow is up 1.7% and the S&P has risen 3.7%. The financial sector rose 1.8%, easily the biggest percentage gainer of the day. The sector was boosted in part by a rise in the yield of the benchmark 10-year Treasury note. Among the most notable gainers in the sector, JPMorgan Chase gained 2.3% and Goldman Sachs added 1.7%.   A report late yesterday indicated that

…Nasdaq record high. OPEC please pump more. China offers to buy more US goods. Mexico imposes tariffs on US good. ISM strong. More job openings than jobs. Social Security and Medicare wobbly. Judge tells Puerto Rico to reveal death toll from hurricane. Financial Review by Sinclair Noe for 06-05-2018 DOW – 13 = 24,799 SPX + 1 = 2748 NAS + 31 = 7637 RUT + 11 = 1664 10 Y – .02 = 2.92% OIL + .76 = 65.46 GOLD + 4.30 = 1296.80   The Nasdaq closed at a record high for the second day in a row with help from the technology and consumer discretionary sectors. The Nasdaq’s biggest boost was from Amazon.com, which rose 1.9 percent, also leading gains in the S&P consumer discretionary index. Apple rose 0.8 percent, contributing the biggest point gains to the technology index and the second biggest for the Nasdaq. The S&P 500 edged higher. Twitter jumped about 5%, after the Dow Jones announced the social media company would replace Monsanto in the S&P 500. Netflix will replace Monsanto on the S&P 100. The changes will go i

Sinclair Noe talks with Dr. William Janeway, author of “Doing Capitalism in the Innovation Economy: Reconfiguring the Three-Player Game between Markets, Speculators and the State” The post William Janeway – Doing Capitalism in the Innovation Economy appeared first on Eat the Bankers.com.

Anthony Nieves, Chair of the Institute for Supply Management (ISM) Non-Manufacturing Business Survey Committee. The post Anthony Nieves – ISM appeared first on Eat the Bankers.com.

…Nasdaq record high. Trade wars on the horizon. G-6-plus-1 later in the week. M&A around the world. Microsoft gets Github. Buybacks, M&A, & dividends push markets. Apple WWDC. Facebook, again. Financial Review by Sinclair Noe for 06-04-2018 DOW + 178 = 24,813 SPX + 12 = 2746 NAS + 52 = 7606 RUT + 5 = 1653 10 Y + .04 = 2.94% OIL – 1.19 = 64.62 GOLD – 1.60 = 1292.50   Tech stocks led today’s rally and helped push the Nasdaq to a record high close. The Nasdaq Biotechnology Index underperformed the broader market with a 0.7 percent decline Nektar Therapeutics dropped 41% and weighed on the index after mixed results from its experimental cancer drug with Bristol-Myers Squibb’s Opdivo disappointed investors. Bristol-Myers Squibb ended 3.2 percent lower. Merck, however, gained about 2.4 percent after latest data showed its cancer drug Keytruda improved survival as a stand-alone treatment for a type of lung cancer. Falling oil prices weighed on the energy sector.   Weekend trade talks between the U.S. and China ended

Tim Fiore, Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee. The post Tim Fiore – ISM appeared first on Eat the Bankers.com.

…223,000 new jobs. 3.8% unemployment rate. Wages slightly higher. Good report. Premature disclosure. Financial Review by Sinclair Noe for 06-01-2018 DOW + 219 = 24,635 SPX + 29 = 2734 NAS + 112 = 7554 RUT + 14 = 1647 10 Y + .07 = 2.89% OIL – 1.33 = 65.71 GOLD – 4.80 = 1294.10   The economy added 223,000 new jobs in May. The unemployment rate dipped from 3.9% to 3.8%, an 18 year low. The increase in hiring — the biggest in three months — topped expectations for 190,000 new jobs. The government said 159,000 new jobs were created in April instead of 164,000. March’s increase was raised to 155,000 from 135,000. For a net gain of 15,000 jobs in revisions. Over the past 12 months, the economy has added 2.36 million jobs. For the first five months of 2018, job growth has been solid averaging just over 200 thousand per month. May was the 92nd consecutive month of job creation, extending the longest streak of job growth on record.   Hiring was broad based. Retailers led the way in hiring by adding 31,000 new jobs. Hea

…Tariffs on EU, Canada, Mexico; a pall on animal spirits due to uncertainty over possible trade war. Waymo goes for liftoff. Sears going down the drain. Financial Review by Sinclair Noe for 05-31-2018 DOW – 251 = 24,415 SPX – 18 = 2705 NAS – 20 = 7442 RUT – 14 = 1633 10 Y – .02 = 2.82% OIL – 1.11 = 67.10 GOLD – 3.00 = 1298.90   After a momentous day on the international trade front, Wall Street closed lower for the fourth time in the past 5 sessions. While stocks ended May on a sour note, major indexes still posted monthly gains, with the small-cap Russell 2000 outpacing its large-cap rivals. For the month of May, the Dow Industrials gained 1%, while the S&P 500 advanced 2.2% and the Nasdaq booked a 5.3% increase. The Russell 2000 index of small-cap stocks left its large-cap rivals behind with a 6% May advance. The index finished at an all-time high on Wednesday, up 1.4%, to 1,646.36, and rose in early action Thursday before retreating 0.8% on the day.   The tariff issue cast a pall over the animal spirits. L

…Stocks rebound. Italy, meh. China prepares retaliation. EU gets no tariff breaks, retaliation expected. Beige Book shows moderate growth, not much inflation. Fed eases up on Volcker Rule. Tax cuts are not providing much boost. Stay calm and reboot. Side effects of Ambien. Financial Review by Sinclair Noe for 05-29-2018 DOW + 306 = 24,667 SPX + 34 = 2724 NAS + 65 = 7462 RUT + 24 = 1647 10 Y + .07 = 2.84% OIL + 1.40 = 68.21 GOLD + 2.50 = 1301.90   The Dow Jones industrial average rose more than 300 points, with Boeing and Home Depot leading the blue-chip stocks higher. Also, the energy stocks came roaring back with Exxon Mobil and Chevron up over 3%. A Reuters report indicated that output cuts implemented by members of the Organization of the Petroleum Exporting Countries and nonmembers led by Russia will remain in place, sending oil prices sharply higher. The Russell 2000 hit a new high. The euro recovers much of its previous losses with a 1.1 percent climb against the greenback to $1.166. An uptick in rates

…Italy’s government dissolves. New elections in July. New tariffs on China. Stocks fall, Treasuries rally, bank stocks tumble. Puerto Rico’s humanitarian crisis. No coffee today. Financial Review by Sinclair Noe for 05-29-2018 DOW – 391 = 24,361 SPX – 31 = 2689 NAS – 37 = 7396 RUT – 3 = 1623 10 Y -.16 = 2.77% OIL – 1.07 = 66.81 GOLD + 1.20 = 1299.40   The good news is that it could have been worse. The Dow Industrials were down over 500 points at session lows. Today’s losses marked the third straight trading session of negative numbers for the Dow and S&P 500, both of which suffered their worst day on a percentage basis since April 24. Stocks extended their losses throughout the day as European exchanges closed and the euro fell further against the dollar. The VIX, or volatility index jumped by about 30%; complacency got a sharp awakening. The risk-off attitude fueled demand for safe-haven trades. Treasury bonds had a huge bounce, suddenly pushing yields down over 5%. It was the biggest one-day advance for Tr

…Stocks slip again, but up for the week. Oil down. Trade war bluster. EU GDPR – Alexa, is that a good idea? No cruising in the Chrysler. Financial Review by Sinclair Noe for 05-25-2018 DOW – 58 = 24,753 SPX – 6 = 2721 NAS + 9 = 7433 RUT – 1 = 1626 10 Y – .05 = 2.93% OIL – 3.13 = 67.58 GOLD – 2.90 = 1302.20   Well, it wasn’t pretty but it wasn’t as ugly as it could have been. The Dow Industrials dropped more than 100 points intraday, but then staged a partial recovery. The main drag again today, was oil, which dropped 4.3% – not soon enough for any relief at the pump heading into a Memorial Day holiday where many people will hit the road. A spike in crude oil prices has lifted the national average price of gas by 31% over the past year to an average of $2.97 a gallon, according to AAA. Fifteen states are already facing $3 average gas prices or higher. Saudi Arabia said this week that OPEC and Russia could supply more oil to world markets “in the near future.” That news led to the steepest one-day decline in oi

…US-North Korea summit nixed; coins still on sale. Rolling back Dodd Frank. Existing home sales drop – tight inventory, higher rates. Europeans get digital privacy, and it spills over on you. Netflix quietly grows. Financial Review by Sinclair Noe for 05-24-2018 DOW – 75 = 24,811 SPX – 5 = 2727 NAS – 1 = 7424 RUT + 0.61 = 1628 10 Y – .02 = 2.98% OIL – 1.17 = 70.67 GOLD + 11.10 = 1305.10   The Dow Industrials dropped as much as 250 points before a partial recovery.   In a letter released by the White House, Trump wrote he’s canceling the proposed meeting with North Korean leader Kim Jong Un because of “tremendous anger and open hostility” in recent statements. The sudden decision dashed hopes for the end of nuclear saber-rattling between the United States and North Korea. The North Korea news could complicate Trump’s efforts to reach a trade agreement with China. Fears of a trade war with China had been abating in recent days. However, Trump suggested earlier this week that Chinese President Xi Jinping could b

…Fed minutes dovish. Stocks erase early losses. Trade disputes still muddled. Uber nixes autonomous cars in AZ. GE’s long arc of losses. Retail mixed. Financial Review by Sinclair Noe for 05-23-2018 DOW + 52 = 24,886 SPX  + 8 = 2733 NAS + 47 = 7425 RUT + 2 = 1627 10 Y – .06 = 3.00% OIL – .38 = 71.82 GOLD + 2.40 = 1294.00   Stocks ended with small gains after minutes from the Federal Reserve’s latest policy meeting suggested higher inflation may not result in faster interest rate hikes. Most Fed policymakers thought it likely another rate increase would be warranted “soon” if the U.S. economic outlook remains intact, and many participants saw little evidence of general overheating of the labor market. Inflation, even a bit above 2 percent, may not necessarily mean a faster rate of increases. The Fed has hiked borrowing costs once so far this year, in March, and policymakers are currently about evenly split between those who expect two more rate rises this year and those who anticipate three. Investors overwhel