As expected trading was quiet as the bond market and banks were closed for Columbus Day. The dollar fell to a three week low as all are reassessing the probability of a change in monetary policy this year even as several Committee members are suggesting...
As noted several times, the Federal Reserve has added another variable into its monetary policy making process…international growth, specifically China. Until September all were fixated on the unemployment statistics as this was the FOMC’s stated variable....
Equites ended higher in moderately volatile trading, perhaps the result of HFT. Averages are now at the upper end of their recent trading range. Will shares reverse course or will the advance continue?...
Oils surged to the highest level in a month amid speculation that falling crude production will ease the global supply glut. The International Energy Agency (IEA) stated cuts into new oil projects this year are the biggest in the history as investments in “upstream projects”...
Stocks led by energy rallied yesterday on the belief that monetary policy will remain unchanged until March 2016, perhaps under the simplistic guise of “bad is good.” September’s ISM non-manufacturing data disappointed albeit the data is consistent with GDP growth of 3.5%. Even allowing for...
I am firm believer in the comment to never over react to one single data release. I will make an exception. The chances of a rate hike by the Fed this year just fell exponentially given September’s labor report....
The first day of the fourth quarter was initially similar to most of the days of the third quarter. Shares fell spooked by a disappointing reason on the ISM manufacturing index. This influential survey representing about 17% of the economy is suggesting manufacturers are barely...
Equites rose yesterday, led by the sectors that were battered in the worst selloff since the third quarter of 2011. As widely known some sectors have plunged about 25% since June 30. Some of the must owned names in these sectors are down over 35%...
Today is the last day of the third quarter, a quarter that most would like to forget as the S & P 500 staged its largest 90 day decline in four years. The Russell 2000 is in its longest slump since 2006 and is down...
It is getting ugly. The Bloomberg World Mining Index fell to the lowest level in almost seven years. Other gauges fell to levels last experienced in 2013....