U.S. markets looked set to make gains for the sixth day on Friday, Feb. 16, on a stream of corporate earnings, including Coca-Cola Co., Kraft Heinz Co. and Campbell Soup Co., and as traders prepared for a long Presidents Day weekend. The Dow Jones Industrial Average had an implied open of 30 points to the upside at 7:39 am Eastern time. S&P 500 futures were 0.19% up and the Nasdaq looked set...Read More
I’m liking what I see from the crypto markets lately.It may sound foolish or dangerous to say this, but hear me out.If you look at the myriad attacks on crypto over the last month, the return to November 2017 pricing and the recent settling and smoothing of the market, I can understand your skepticism.Look, I get it. Recently, there have been a lot of negative forces beating down the crypto...Read More
That was quick!Late last week, I said most investors were too scared to buy the dip. Boy, was I wrong...Traders are gobbling up stocks, pushing the major averages higher for five days in a row. Eager buyers have all but erased the market's double-digit pullback. As of this morning, the Dow, S&P 500, and Nasdaq Composite are all back above their respective 50-day moving averages.Futures are up...Read More
Earlier this week, I saw a politically motivated quote in the paper that just about made me lose my cool.Not only was it incredibly misleading, but it also disparaged one of the programs that I've been encouraging retirees to take advantage of for years now!Now, when it comes to politics and the different opinions that everyone is entitled to, I try to be understanding. Even when I disagree with a...Read More
Wolf Richter (WolfStreet.com) breaks down the volatile trading action over the past couple of weeks and analyzes the latest US economic data.Read More
Click Here to Listen to the InterviewBill Fleckenstein is the President of Fleckenstein Capital and writes a popular column 'Contrarian Chronicles' for MSN Money as well as the daily Market Rap column for his website: Fleckenstein Capital. Bill has appeared at one time or another in virtually all financial media including Bloomberg, CNBC, The New York Times, MSN, Marketwatch, Barron's and more. Bi...Read More
"The huge volatility of the price of cryptocurrencies - with respect to either traditional currencies or to a basket of goods and services - has made use of cryptocurrencies Continue...Read More
There are indications Crude Oil prices are going lower.There are also indications that it’s going higher. Which narrative do youbelieve? OilBears point to what they believe is over-supply caused by soaring USproduction, mostly from shale fields. With production increasing over +20% inless than two years, and drill rigs on the rise, the US now produces about asmuch Oil as the industry leaders...Read More
Gold spiked in January, and looked to be headed even higher. But there were some problems. First, futures speculators - as tracked by the Continue...Read More
The stock market pullback of the last couple of weeks has shown that markets are jittery, and will likely be volatile for a while as investors keep a vigil on rising bond yields (inflation) and potential interest rate hikes. In these uncertain times, one sector that appears to be holding its own, and then some, is commodities. Let's examine why this is the case, and why commodities are going to be...Read More
Over the past month, we have heard a growing roar of dissent and fear as people within the United States and around the financial world worried about a rapidly approaching deadline.A deadline, that if reached, would spell disaster for all!This deadline-self-imposed by Congress-is an artificial ceiling put in place to reign in the controls of big government and keep it in check! If it is reached, l...Read More
Despite a tough week for stocks into Friday, February 9, three big picture macro indicators have continued to support a risk 'on' backdrop. Many of the shorter-term indicators we watch, like Junk bond ratios and the Palladium/Gold ratio say the same thing. Junk/Treasury and Junk/Investment Grade are threatening new highs and as we have noted in NFTRH updates all through the recent market volatilit...Read More
Our proprietary cycle indicator is down.To public readers of our updates, our cycle indicator is one of the most effective timing tool for traders and investors. It is not perfect, because periodically the market can be more volatile and can result in short term whipsaws. But overall, the cycle indicator provides us with a clear direction how we should be speculating.InvestorsDuring a major buy si...Read More
"You can't grow your debt at six times the rate of your economy. In other words, if you are creating $6, $8 or $10 of debt to eke out $1 of low productivity growth, you are dooming your currency, and all currencies are doing the same thing. All the currencies are going to take a big drop at some point relative to real stuff."Charles Hugh Smith writes the Of Two Minds blog which covers an eclectic...Read More
"We need to look more closely into this, but if these measures are enacted, it would be difficult for the industry to avoid any impact," Continue...Read More
CloseGain/LossOn WeekGold $1348.70-$4.70+2.58%Silver$16.68-$0.20+2.21%XAU83.23-2.63%+6.23%HUI184.95-2.33%+5.96%GDM631.75-2.20%+5.84%JSE Gold1204.14+7.09+6.38%USD89.15+0.57-1.42%Euro124.12-0.90+1.42%Yen94.00-0.27+2.07%Oil$61.68+$0.34+4.19%10-Year2.871%-0.031+0.56%Bond144.28125+0.28125+0.39%Dow25219.38+0.08%+4.25%Nasdaq7239.47-0.23%+5.31%S&P2732.22+0.04%+4.30% The Metals: Gold gained $8.30 t...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort251,86076,25464,242150,847345,383466,949485,879Change from Prior Reporting Period -21,968-6,6973,685-7,803-18,718-26,086-21,730Traders17279744461251183 Small Speculators LongShortOpen Interest 44,79625,866511,745 2,510-1,846-23,576 non reportable positionsChange from the previous...Read More
Gold rose as the dollar fell to near a three-year low against a basket of currencies on Friday, heading for its biggest weekly loss in nine months, as a slew of bearish factors including firming inflation and a fall in retail sales and industrial production hit the dollar.Gold in USD - 10 Years - (GoldCore)U.S. producer prices accelerated in January, boosted by strong rises in the cost of gaso...Read More
Feb 17 (Reuters) - For other diaries, please see:Top Economic Events Polling Unit Diary Today in Washington Political and General News DATECOUNTRY AUCTION DETAILS 19-FebNetherlands DTC auction20-FebGermany Auction of 2-year Treasury notes20-FebSpain Auction of 3- and 9-month Treasury bills20-FebUnited States Sale of 2-year notes21-FebUnited States Sale of 2-year floating rate notes21-FebUnited Sta...Read More
Feb 17 (Reuters) - For other diaries, please see:Top Economic Events Government Debt Auctions Political and General News Events Index of All Diaries Guide to Economic Indicators -----------------------------------------------------------This Diary is filed daily -----------------------------------------------------------MONDAY, FEBRUARY 19SYDNEY - Speech by Michele Bullock, RBA Assistant Governor...Read More