Financial Review

….On again off again trade wars/disputes, whatever. Oil prices and everything else starting to pinch. Dodd Frank rollback because…, it works? Zuckerberg goes to the EU. SpaceX again. Financial Review by Sinclair Noe for 05-22-2018 DOW – 178 = 24,834 SPX – 8 = 2724 NAS – 15 = 7378 RUT – 12 = 1625 10 Y un = 3.07% OIL – .15 = 72.09 GOLD – 1.60 = 1291.60 Stocks gave back most of yesterday’s gains. Yesterday, the trade war with China was put “on hold”. Today, not exactly. Trump questioned a potential trade agreement with China that his administration announced days earlier, indicating he isn’t satisfied with the deal, whatever the deal might be. And by the way, he still wants a ban on Chinese telecom company ZTE, which is facing stiff penalties for violating sanctions against North Korea and Iran. Meanwhile the proposed June summit with North Korean dictator Kim Jong Un, may not happen according to Trump.   Tomorrow, we will look at the minutes from the Federal Reserve’s FOMC policy meeting in May. They did not hi

…China trade war/dispute on hold. EU works a deal with Iran. SCOTUS goes with arbitration for workers. GE/Wabtech. Vote to rollback Dodd Frank. Buyback boom. Fortune 500. Financial Review by Sinclair Noe for 05-21-2018 DOW + 298 = 25013 SPX + 20 = 2733 NAS + 39 = 7394 RUT + 10 = 1637 10 Y un 3.07% OIL + 1.31 = 72.59 GOLD + .30 = 1293.20   Treasury Secretary Steven Mnuchin on Sunday declared the trade battle with China “on hold” after the two countries agreed to drop their tariff threats in favor of hashing out a broader deal. Mnuchin went on to clarify that it was a trade dispute, not even a trade war. The US and China put out a joint statement on Saturday after their second round of trade talks. The talks were intended to get China to cease unfair trade practices it uses against the US and to reduce the US-Chinese trade deficit — and to sort out those differences without sliding into a trade war. The joint statement said, among other things, that China would increase its purchase of US energy and agricultura

Sinclair Noe interview Garrett Sutton, author of “Start Your Own Corporation: Why the Rich Own Their Own Companies and Everyone Else Works for Them” (Rich Dad Advisors) The post Garrett Sutton – Start Your Own Corporation appeared first on Eat the Bankers.com.

…Stocks down on the week, except small caps. Economy rolling into May. China give and take. Farm bill flops. NAFTA deadline passes. Another school shooting. Financial Review by Sinclair Noe for 05-18-2018 DOW + 1 = 24,715 SPX – 7 = 2712 NAS – 28 = 7354 RUT + 1 = 1626 10 Y – .04 = 3.07% OIL – .15 = 71.34 GOLD + 1.90 = 1293.10   The Dow, and S&P 500 lost 0.5% for the week, and Nasdaq dropped 0.7% for the week. The small cap Russell 2000 index knocked out 3 consecutive record highs to finish the week up 1.3%. Bonds tried to rally today but for the week, the yield on the 10-year Treasury note added 10 basis points. And oil prices topped $70 a barrel last week and continued marching higher this week, for the third straight week of price increases. You’ve probably seen the signs with $3 a gallon prices for regular gas, and we’re not even into the summer driving season yet. Meanwhile, Brent crude pushed near $80 a barrel. Gold moved higher today but is down four of the last five weeks.   Interest rates are rising, g

…Small caps hit another record. Yields continue march higher. Homebuyers rush for deals. EU angry with Trump. China turns to Russia for soybeans. Mueller probe anniversary. CBS v. Redstones. Kroger-Ocado. Paypal-iZettle. Wells Fargo, again. Financial Review by Sinclair Noe for 05-17-2018 DOW – 54 = 24,713 SPX – 2 = 2720 NAS – 15 = 7382 RUT + 8 = 1625 10 Y + .01 = 3.11% OIL + .08 = 71.57 GOLD un 1291.20 Stocks fell, at least the big cap stocks. Small caps continued a rally that has pushed the Russell 2000 to two straight sessions of record highs. Tech stocks were down after a less than satisfying earnings report from Cisco Systems, which dropped 3.8%. Shares of Applied Materials fell 2% in after-hours trade, as the chipmaker materials supplier’s sales outlook came in below the Wall Street consensus. Nordstrom shares fell more than 5% in late trading after the retailer posted first-quarter results above expectations but same-store sales rose less than expected. Walmart posted an earnings and sales beat. The big

…Russell 2000 record high. Bonds continue to fall. Zuck goes to Europe. Senate releases records on Trump investigation. Also, financial disclosures. CEO-average worker pay gap grows. Senate votes for net neutrality. Macy’s surprises Macy’s. Financial Review by Sinclair Noe for 05-16-2018 DOW + 62 = 24,768 SPX + 11 = 2722 NAS + 46 = 7398 RUT + 16 = 1616 10 Y + .02 = 3.10% OIL + .23 = 71.54 GOLD – .10 = 1291.20   Stocks recovered, bond did not. Smaller companies continued to outperform their larger rivals with the Russell 2000 reaching a record high. The Russell 2000 is up about 5% year-to-date. The S&P 500 Index rose above its average price for the past 100 days. The S&P 500 is up about 1% year-to-date, but still down 5.5% from its January 26th high. Bonds have cratered over the past couple of days, pushing the yield on the 10-year note up 10 basis points, to the highest level in 7 years. The two-year Treasury note yield also notched a new multiyear high of 2.593 percent, its highest since August 11, 2008. Yie

…Stocks fall after 8 gains. Bond fall hard, yields jump to highest levels in 7 years. Mortgage rates jump. Retail sales strong but Home Depot disappoints. Primaries in 4 states. North Korea cancels talks with South Korea. The biggest pot deal ever. Financial Review by Sinclair Noe for 05-15-2018 DOW – 193 = 24,706 SPX – 18 = 2711 NAS – 59 = 7351 RUT  un =1600 10 Y + .08 = 3.08% OIL + .04 = 71.00 GOLD – 22.70 = 1291.30   After 8 straight winning sessions for the Dow Industrials, gravity returned, and stocks fell. Home Depot reported quarterly sales that fell short of Wall Street’s expectations – the earnings were good, but sales missed thanks to what the company categorized as a “slow start” to spring sales. Spring is an especially important season for the home improvement retailer as shoppers traditionally stock up on gardening supplies and renovation materials. Customer transactions, however, fell 1.3 percent during the quarter. Home Depot fell 1.6 percent. And the weakness in Home Depot may be a warning sig

…A string of gains on Wall Street. China-US tweet strange. US companies have hearings on tariffs this week. China visit. SCOTUS rules open up sports gambling. Xerox-Fuji deal nixed. Sears’ slow destruction. Net neutrality on the line. Financial Review by Sinclair Noe for 05-14-2018 DOW + 68 = 24,899 SPX + 2 = 2730 NAS + 8 = 7411 RUT – 6 = 1600 10 Y + .02 = 3.00% OIL + .48 = 71.18 GOLD – 4.90 = 1314.00 The Dow Industrial Average started the session with triple digit gains, then drifted slightly lower. The Dow posted its eighth straight session of gains, the longest streak since last September. The Russell 2000 index hit 1615, a couple of points away from its previous intraday record but closed down.   Chinese President Xi Jinping’s top economic adviser is heading to Washington this week for more negotiations. This on the heels of a US trade delegation flop in Beijing. This morning Trump tweeted that he will help save ZTE, a Chinese electronics maker; writing that “Too many jobs lost in China.” The company was

…Stocks post strong week. Gas prices move higher. Auto summit in D.C. Trying to tackle drug prices. Beware inversion. 1Q earnings season shines. Financial Review by Sinclair Noe for 05-11-2018 DOW + 91 = 24,831 SPX + 4 = 2727 NAS – 2 = 7402 RUT + 3 = 1606 10 Y un = 2.97% OIL – .85 = 70.51 GOLD – 3.30 = 1318.90   The Dow Industrials posted a seventh straight winning session – the longest winning streak since last November. The S&P 500 inched forward. The Nasdaq pulled back a little. For the week, the Dow is up 2.3%, the S&P 500 is up 2.4% and the Nasdaq is up 2.7%.   The import price index rose 0.3% in April because of the higher cost of oil. Excluding fuel, import prices rose 0.2% last month. The initial University of Michigan consumer sentiment index was unchanged at 98.8 in May.   Gas prices are ticking up. When Trump withdrew the United States from the Iran nuclear deal this week, he set in motion a series of events that will develop unpredictably. But it’s likely Iran will end up selling less oil into the

Sinclair Noe talks with Jeanne Bliss, author of “Would You Do That to Your Mother?: The Make Mom Proud Standard for How to Treat Your Customers” The post Jeanne Bliss – “Would You Do That to Your Mother?” appeared first on Eat the Bankers.com.

…Stocks higher again. North Korea releases prisoners; summit planned. Israel and Iran. CPI inches higher – inflation is mild except for stuff you actually need. Earnings looking good. Google infuses AI into old apps. Financial Review by Sinclair Noe for 05-10-2018 DOW + 196 = 24,739 SPX + 25 = 2723 NAS + 65 = 7404 RUT + 7 = 1603 10 Y – .03 = 2.97% OIL + .26 = 71.40 GOLD + 9.00 = 1322.20 The Dow Industrials posted their sixth straight gain, with the S&P and Nasdaq along for the ride with nearly a 1% gain. The tech sector led the advance, up 1.3%. Apple hit a new record high. The small-cap focused Russell 2000 has been outperforming the large cap S&P and the blue chip Dow; the Russell is within a hair’s breadth of setting its first record since Jan. 23, when it closed at 1,610.   The Labor Department said before the open its consumer price index, or CPI, rose 0.2 percent in April. The lighter-than-forecast number eased inflation concerns; prices are increasing gradually. The consumer price index has risen 2.5%

…Stocks higher. Oil higher. Dollar higher. Bond yields higher. PPI barely budges. Cohen selling access? California mandates solar. Earnings rolling in. Financial Review by Sinclair Noe for 05-09-2018 DOW + 182 = 24,542 SPX + 25 = 2697 NAS + 73 = 7339 RUT + 9 = 1596 10 Y + .04 = 3.00% OIL + 2.19 = 71.25 GOLD – 2.00 = 1313.20   Stocks pushed higher. Energy shares were the leaders as oil prices continued moving higher following Trump’s decision to quit a nuclear deal and resume sanctions against Iran. Also affecting oil markets was data from the Energy Information Administration, which showed that crude-oil stockpiles fell more than expected in the latest week. Energy shares jumped 2.4%, by far the biggest outperformer among the S&P 500 sectors. While crude oil prices have rallied over the past 12 months, energy stocks have basically gone nowhere. Among oil companies on the rise today: Exxon Mobil added 2.6%, Chevron climbed 2.2%, Halliburton up 1.6%, and Schlumberger gained almost 2%. Financials, material, indu

…Trump blows up Iran deal. Stocks stumble but close flat. Oil dips but holds $70. JOLTS – a job opening for everyone. Equifax gets worse. Financial Review by Sinclair Noe for 05-08-2018 DOW + 2 = 24,360 SPX – 0.71 = 2671 NAS + 1 = 7266 RUT + 7 = 1586 10 Y + .02 = 2.97% OIL – .69 = 70.04 GOLD + .60 = 1315.20   Trump announced the U.S. will pull out of the landmark nuclear accord with Iran, declaring he was making the world safer but dealing a blow to our allies. Trump said the 2015 agreement, which included Germany, France and Britain, was a “horrible one-sided deal that should never ever have been made.” He added that the United States “will be instituting the highest level of economic sanction.” The move is especially striking because even Trump administration officials have previously said Iran is complying with the accord. Trump had until May 12 to decide whether to waive sanctions as the deal requires if Iran is complying, and he made his announcement four days early.  There was an inevitability about Tru

Sinclair Noe talks with Hector Macdonald, author of “Truth: How the Many Sides to Every Story Shape Our Reality” The post Hector Macdonald – “Truth” appeared first on Eat the Bankers.com.

— Oil tops $70; waiting on Iran decision. Merger Monday: Blackstone-Gramercy, Athena Health, Comcast-Sky, Nestle-Starbucks deal. Android Things. Apple record. Berkshire annual meeting. Financial Review by Sinclair Noe for 05-07-2018 DOW + 94 = 24,357 SPX + 9 = 2672 NAS + 55 = 7265 RUT + 13 = 1578 10 Y + .01 = 2.95% OIL + .28 = 70.00 GOLD – 1.40 = 1314,60   The Dow Jones industrial average gave back more than half of a 200-point intraday gain, while the S&P 500 held on for moderate gains. The major averages were first boosted by strong gains in energy stocks. The Energy Select Sector SPDR Fund (XLE) rose as much as 2.3 percent before closing 0.1 percent higher. For most of the session, crude oil was trading well above $70 a barrel, until a Trump tweet that he will announce a decision on the Iran nuclear deal tomorrow. Trump faces a May 12 deadline to either continue suspending sanctions targeting Iran’s oil exports or snap the penalties back into place. Refusing to grant the sanctions relief would imperil the

…164,000 new jobs in April. Unemployment rate hits 3.9%. Wages flat. How low can we go? How is the labor market changing? Financial Review by Sinclair Noe for 05-04-2018 DOW + 332 = 24,262 SPX + 33 = 2663 NAS + 121 = 7209 RUT + 19 = 1565 10 Y un = 2.94% OIL + 1.36 = 69.79 GOLD + 3.40 = 1316.00   The economy added 164,000 new jobs in April, and the unemployment rate dropped to 3.9%, the lowest level in 18 years. Most estimates were forecasting 185,000 to 190,000 new jobs – so, it was just slightly below expectations but not a big miss; certainly not as bad as the March report, which initially came in at 103,000 and today revised up to 135,000. February’s report was also revised to 326,000, a gain of 2,000. Those are some pretty wild swings from month to month. The 3-month average comes in at 208,000 jobs per month – which is great growth. In April, the year-over-year employment change was 2.28 million jobs. April marked the 91st consecutive month of job gains, far and away the longest streak of increases on re

…Stock drop then flatten out. Fed tightening makes dollar king for now. China trade talks, meh. Trump, Cohen, Guiliani and a changing story. Elon Musk’s earnings call. AZ teacher strike ends. Financial Review by Sinclair Noe for 05-03-2018 DOW + 5 = 23,930 SPX – 5 = 2629 NAS – 12 = 7088 RUT – 8 = 1546 10 Y – .02 = 2.95% OIL + .57 = 68.50 GOLD + 7.00 = 1312.60   Stocks started the session with a sharp drop. There was a preponderance of negative news: the trade delegation with China entered negotiations without much optimism, Rudy Giuliani confirmed that Trump had made payments to a porn actress through his attorney Michael Cohen, Cohen’s phone was tapped by the FBI, several companies reported not so good earnings results, and Tesla’s conference call was different, in a weird sort of way.  Earlier, when the Dow was off almost 400 points it broke below its 200-day moving average, for the first time since early April, while also notching a six-week low. That seemed to be the trigger for computerized trading to bu

We talk with Anthony Nieves , Chair of the ISM Non-Manufacturing Business Survey Committee. The April  NMI registers 56.8%, down 2 percentage points from March. The post Anthony Nieves – Institute for Supply Management appeared first on Eat the Bankers.com.

..Stocks pop and then fall after Fed holds pat. Strong 1Q earnings already priced in. China trade delegation – don’t expect much. EU fires back on tariffs. #RedforEd Day 5, possible deal. Financial Review by Sinclair Noe for 05-02-2018 DOW – 174 = 23,924 SPX – 19 = 2635 NAS – 29 = 7100 RUT + 4 = 1554 10 Y – .01 = 2.96% OIL + .43 = 67.68 GOLD + 1.00 1305.60   The major indexes initially popped after the Fed left interest rates unchanged but fell hard in the final hour of trade. Apple rose 4.4 percent after reporting better-than-expected quarterly earnings and revenue. Apple’s revenue is growing despite slowing demand for its marquee product. Revenue from the iPhone rose 14% in the company’s fiscal second quarter…. even though shipments of the phone only grew 3%. Apple suppliers like Broadcom have been warning of sputtering global smartphone sales, as consumers hold on to phones longer or switch to cheaper models sold by Chinese rivals. The $1,000-pricetag for the company’s iPhone X is probably the biggest drag

…Stocks still in correction territory. Apple beats. Facebook matches and will clear history. Tariff exemptions extended, maybe sorta. ISM manufacturing dips. Home price jump. Gibson BK. #redforEd Day 4. Financial Review by Sinclair Noe for 05-01-2018 DOW – 64 = 24,099 SPX + 6 = 2654 NAS + 64 = 7130 RUT + 8 = 1550 10 Y + .04 = 2.98 OIL – 1.12 = 67.45 GOLD – 11.30 = 1304.60   Stocks cratered in early trading then moved higher into the close; enough for the Nasdaq to post a solid gain, although the Dow Industrials still closed in the red.  The S&P 500 and the Dow slipped into correction territory back on February 8 ( a correction being a decline of 10% or more from recent highs). As of Tuesday, the S&P 500 index is off about 8.5% from its recent peak, while the Dow is 10.4% shy of its late-January record, and the Nasdaq Composite is off 7.7% from its recent record, put in on March 12. The Nasdaq is not in correction territory. While it fell more than 10% from its peak on an intraday basis, it hasn’t closed below