Posts filed under “Markets”

Succinct Summations of Week’s Event’s 12/19/14

Succinct Summations week ending December 19th

Positives:

1. Standard & Poor’s 500 Index had the biggest daily back-to-back gains since March 2009.
2. Despite last week’s selloff — the biggest in over two years — the S&P 500 is up for the month of December.
3. Industrial production rose 1.3% vs expectations for a 0.7% increase. This was the biggest monthly increase since May 2010
4. Initial jobless claims came in at 289k vs the 295k expected.
5. Capacity Utilization came in above 80% for the first time since 2008.
6. U.S. manufacturing output rose 1.1% last month and surpassed its pre-recession peak.
7. CPI fell 0.3% m/o/m and rose 1.3% y/o/y.

Negatives:

1. Markit US manufacturing came in at 53.7, the lowest reading since October 2013.
2. Empire manufacturing came in at -3.6, a big miss relative to the 12 expected. This was the lowest reading since January 2013.
3. Markit services PMI fell to 53.6, the lowest reading since February.
4. Housing starts came in at 1.028mm and single family starts fell 39k.
5. Philly Fed manufacturing came in at 24.5 vs 26 expected.

Thanks, Mike.

Category: Markets

The Lessons of Mr. Market, Philosopher in Chief

Once again, the markets prove that nobody knows nuthin’. Following a bit of oil-driven turmoil the past few weeks, financial markets took off on Wednesday and Thursday. The Standard & Poor’s 500 Index had the biggest daily back-to-back gains since March 2009. Underinvested fund managers, short-sellers and even long-only, fully invested money managers worried that…Read More

Category: Markets, Philosophy

The Media’s $72 Million Question . . .

Hindsight is 20-20. This has certainly been the case with that recent New York magazine story about a teenage trading genius who told a reporter that he had amassed a $72 million fortune in the stock market while attending high school. Actually, hindsight emerged pretty quickly as the piece immediately set off a wave of…Read More

Category: Markets

Melt Up!

Those of you who continue to insist you can even remotely forecast what might happen next continue to reveal incredibly foolish, thoroughly disproved beliefs, despite an overwhelming avalanche of evidence that you haven’t the slightest idea what the fuck is going on now, much less what is going to happen next. Once again, the markets…Read More

Category: Markets

CUBA Herzfield Caribbean Basin

In the announcement of US potentially normalizing relations with Cuba, the $33 million dollar closed end fund “Herzfield Caribbean Basin” — stock symbol CUBA — popped 40%:   click for ginormous chart   Here are its main holdings:   So much for those theories that investors are rational and markets are efficient . . ….Read More

Category: Markets, Psychology, Really, really bad calls

Succinct Summation of Week’s Events 12.12.14

Succinct Summations week ending December 12, 2014   Positives: 1. Average gasoline prices fell to $2.60, the lowest levels since 2009, as Crude Oil continues to crash. 2. U.S. retail sales rose 0.6% m/o/m, better then he 0.5% expected rise. 3. Consumer confidence came in at 93.88, which was the biggest beat relative to expectations since…Read More

Category: Markets

Awesome Oil/Energy Infographic

Fantastic interactive graphic from the whiz kids in the BBRG graphics department — be sure to click through all of the delicious and informative pages of this beastie:   America Is Shaking Off Its Addiction To Oil click for interactive infographic Source: Bloomberg

Category: Markets

Missing Alpha

Category: Markets

Succinct Summation of Week’s Events 12.5.14

Succinct Summations week ending December 5th Positives: 1. NFP came in at 321k far above 230k expectations. This was the strongest month since January 2012 and the best year of job creation since 1999. 2. S&P 500 and Dow Jones made new all-time highs for the fifth straight week. 3. Crude oil fell to the…Read More

Category: Markets

Weak Eurozone

Source: Deutsche Bank Research, The House View, 25 November 2014

Category: Economy, Markets, Politics, Taxes and Policy