In spite of alleged strength in several recent regional manufacturing reports, durable goods orders took another nosedive. As I have commented, there are lots of problems with small-sample diffusion reports that likely overstate the bounces we have seen. Today’s more sobering news is that durable goods orders are down 2.8%, pretty much in-line with the Econoday…
The National Collegiate Athletic Association (NCAA) Men’s Division I Basketball Tournament kicked in last week, spreading excitement not only in the sports world but also fueling growth in various corners of the economy such as media, advertising, restaurants, hotels and airlines. As a result, the stock market performance is closely tied to the basketball frenzy…
The market sell-off many had expected following the Brussels Airport terror bombing Tuesday didn’t occur til Wednesday, and now the S&P 500 has again swung to the negative year to date. Futures for the Dow, Nasdaq and S&P ahead of the bell this morning are also down this morning. So it’s less of a continued…
Most stock markets are muted this morning and the FTSE 100 (FXCM: UK100) is no exception. Price is oscillating around the 6164 level as it has been doing since the start of the month. Today at 9:30 GMT, U.K. Retail Sales were seen to be increasing by 3.5% YoY according to the latest survey by Bloomberg. This…
The EUR/USD currency pair showed signs of weakness overnight as the impact of the terror attacks weighed heavily on speculative sentiment. The greenback maintains its status as a safe haven currency in times of geopolitical turmoil, and this was evident when it rallied against the EUR to 1.1180 overnight. However, the EUR fought back and is slowly…
Having blamed the weather for the Services PMI collapse into contractionary levels in February, the very modesty rebound (from 49.7 to 51.0) is a big let down: “The lack of a strong rebound in service sector activity in March is a big disappointment, as bad weather had been blamed for part of the weakness in…
Photo Credit: Mike Mozart GameStop Corp.(GME) Consumer Discretionary – Specialty Retail | Reports March 24, After Market Closes Key Takeaways The Estimize consensus is calling for EPS of $2.26 and revenue of $3.56 billion, 1 cent higher on the bottom line and right in line on the top line Shares received a nice boost last week after…
80% Or Bust Not surprisingly, the recent sharp reflexive rally has brought the bulls out in full force as noted by a recent comment on my post earlier this week on “4% From The Highs:” “…by the time you get confirmation with the long term indicators above, you will miss out on 20 to 30% of…
Today’s Economic events German import prices m/m -0.60% vs. -0.30% Gfk consumer climate 9.4 vs. 9.5 ECB TLTRO 7.3bn vs. 24.3bn UK Retail sales core m/m -0.20% vs. -1.0%; retail sales m/m -0.40% vs. -0.70% UK Retail sales core y/y 4.10% vs. 3.50%; retail sales y/y 3.80% vs. 3.90% US Durable goods orders -2.80% vs….
We have been looking for a bottom in the US dollar against the Canadian dollar. It is been difficult, but now it appears that the technicals are turning. This Great Graphic, from Bloomberg, shows that the US dollar is moving above a trend line down off the January 20 high just below CAD1.47. The downtrend line connects…
