February’s jobs data was surprise. Payrolls rose by the smallest amount in more than a year but prior months were revised higher. Wages rose more than expected rising by the greatest pace in over a decade and the labor participation rate remained unchanged....
Apple posted results that narrowly beat the expectations set when Apple issued a rare earnings warning at the beginning of the month. However its outlook for the current quarter is regarded more disappointing than some were expecting. At the time of this writing shares are...
Tech stocks rallied after China ratcheted up stimulus to combat slowing growth. The pound erased a decline against the dollar after British lawmakers overwhelmingly voted down a Brexit deal and planned a confidence vote on May’s government.
...Many times I have opined about the complete breakdown of risk parity and cross correlated models, a strategy that has surged in popularity over the last 10 years, a strategy that many including the regulatory entities believed limited risks. Yesterday Stanford Bernstein stated this breakdown...
Will today’s employment data alter perceptions? Equities traded significantly lower on Apple’s revenue warning. Is this a warning to all multinationals, especially those with a large exposure to China? Apple did not mention tariffs as a major reason for the “magnitude of economic deceleration, particularly...
Equities came under considerable pressure on skepticism that the US and China made any meaningful breakthrough on trade. Selling accelerated amid news that a “hard Brexit” may occur. Selling in US equity futures surged on this headline...
Trading yesterday was volatile with shares ultimately rebounding considerably higher on reports that the US-China trade picture is brightening. Technology outperformed by a 2:1 margin. Oil advanced for the second consecutive day as Saudi Arabia is telegraphing its intent to recommend to OPEC to reduce...
President Trump may soon label China a currency manipulator. While I will skip the obvious notion that all countries manipulate their currencies either overtly (devaluation) or covertly (monetary policy), such a declaration may have wide ranging implications....
FRB Chair Yellen’s semiannual congressional testimony was a nonevent, offering a subtle change to her outlook from less than a week ago, pushing the prospect of additional interest rate increases further into the future. Yellen stated the central bank were on watch for whether, rather...
Equities—led by energy—advanced yesterday. As widely noted long time oil bear Goldman surprised all with its reversal regarding oil stating demand is now higher than input. It cited numerous reasons including the massive reduction in capital spending outside OPEC, supply disruptions in Nigeria, Libya and...