By: Gary SavageI want to add a quick note on the jobs report. Today's number is important in that if the government tries to fake a good number the market will probably lose all confidence in government statistics and likely react badly. There is no scenario where the number can be good as we have already been feeling the effects of the virus scare for a couple of months. A good number will be...Read More
By: Ira EpsteinRead More
10-year treasury yields hit another record low againStock dropped once again Friday, as Wall Street closed out a roller-coaster trading week in the red. An upbeat February jobs report was unable to lift the Dow out of its coronavirus-fueled sell-off. The S&P 500 and Nasdaq also finished deep in the red, as the 10-year Treasure yield fell below 0.7% for the first time in the benchmark's history. Ho...Read More
Tech took home big wins early in the weekThe first week of March on Wall Street streamlined the definition of volatility. Just off the stock market's worst week since the financial crisis, the Dow Jones Industrial Average (DJI) charged higher, marking its best day since 2009 on Monday. Vaccine updates and a rise out of tech aided the comeback, but it was short-lived as the blue-chip index dropped...Read More
Airline stocks are enjoying a lift after Kudlow's comments Quick to brush off this morning's better-than-expected jobs data, the Dow Jones Industrial Average (DJI) is nearly 500 points lower midday, extending Thursday's losses as traders grow weary of the long-term economic impact of coronavirus. Paring some of this morning's steeper losses is a surge out of the airline sector, after Chief Economi...Read More
Two investors announced an 11% stake in the company Big Lots, Inc. (NYSE:BIG) is up 10.6% to trade at $18.37 after two activist investors announced an 11% stake in the company, with plans to overhaul the big box retailer's board, adding that they have already nominated nine people. The investors, Macellum Advisors and Ancora Advisors, said in a joint statement that the "company has been hampered b...Read More
J.P. Morgan's CEO Jamie Dimon is currently in recovery after emergency heart surgery JPMorgan Chase & Co. (NYSE:JPM) is deep in the red this morning, down 4.7% to trade at $108.57, amid news that its CEO Jamie Dimon is recovering from emergency heart surgery, according to a company announcement. Co-presidents and co-CEOs Daniel Pento and Gordon Smith will take over Dimon's role while he recovers....Read More
The leader of its Old Navy Unit, Sonia Syngal, will take over as CEO later this month Long-time underperformer Gap Inc (NYSE:GPS) is set to open at 11-year lows this morning, following news that the head of its Old Navy unit, Sonia Syngal, will assume the role of CEO on March 23, taking the place of interim CEO Robert J. Fisher. This comes just four months after former-CEO Art Peck unexpectedly re...Read More
Better-than-expected jobs data is doing little to prop up stocks Stocks are looking to end the first full week of March deep in the red this morning, with Dow Jones Industrial Average (DJI) futures staring down a 700 drop, while the the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are eyeing sizable daily (and weekly) losses of their own. Meanwhile, the 10-year treasury yield hit its lowest...Read More
Keith WeinerPosted Mar 5, 2020The big news this week was the drop in the prices of the metals (though we believe that it is the dollar which is going up), $57 and $1.81 respectively.Of course, when the price drops the injured goldbugs come out. We have written the authoritative debunking of the gold and silver price suppression conspiracyhere.We provide both the scientific theory and the data. So...Read More
Is gold a commodity, an investment, or money?The answer is...Gold is a chameleon. It changes in response to the environment. At times, gold behaves like a commodity. Continue...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 366,17346,44085,359178,134529,145629,666660,944 Change from Prior Reporting Period -23,166-7,034-5,3691,515-23,095-27,020-35,498 Traders 22457835854315168 Small Speculators LongShortOpen Interest 62,31931,041691,985 -13,912-5,434-40,932 non reportable pos...Read More
- Rob KirbyIt's the wee hours of Friday morning, March 6, 2020 and I am tuned in to Bloomberg "Surveillance" business news host Mr. [CFR] Tom Keene. Global equity markets are flat on their backs, crude oil prices are collapsing to multi year lows and the $US dollar looks like it's preparing to do a swan dive into the Hudson River. Thank god we have the likes of ole Tommy Keene and the rest...Read More
By: Gary SavageI want to add a quick note on the jobs report. Today's number is important in that if the government tries to fake a good number the market will probably lose all confidence in government statistics and likely react badly. There is no scenario where the number can be good as we have already been feeling the effects of the virus scare for a couple of months. A good number will be...Read More
By: Ira EpsteinRead More
Another tumultuous week inequity and interest rate markets has helped fuel a big pop in safe-haven demandfor gold and silver. The major market moving eventwas, of course, the Federal Reserve’s emergency rate cut on Tuesday. The Fedslashed its overnight funds rate by 50 basis points. But even before the Fedacted, the bond market had already forced its hand as yields on the 10-yearTreasury not...Read More
Yesterday, the Fed cut interest rates by 50 basis points. Not during a regular monetary policy meeting, but in a surprising move. But what are the implications for the gold market specifically?Fed Cuts Interest Rates in Emergency MoveLast week, I wrote that the spread of the new coronavirus to Europe and the inversion of the yield curve make “the Fed more likely to step in and cut the federa...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 366,17346,44085,359178,134529,145629,666660,944 Change from Prior Reporting Period -23,166-7,034-5,3691,515-23,095-27,020-35,498 Traders 22457835854315168 Small Speculators LongShortOpen Interest 62,31931,041691,985 -13,912-5,434-40,932 non reportable pos...Read More
- Rob KirbyIt's the wee hours of Friday morning, March 6, 2020 and I am tuned in to Bloomberg "Surveillance" business news host Mr. [CFR] Tom Keene. Global equity markets are flat on their backs, crude oil prices are collapsing to multi year lows and the $US dollar looks like it's preparing to do a swan dive into the Hudson River. Thank god we have the likes of ole Tommy Keene and the rest...Read More
Stock-market volatility has exploded on COVID-19 fears, shattering the Fed's QE4-fueled levitation. The resulting stunning sentiment shift has left investors and speculators wondering where these wild markets are heading. This is an important time to check the latest fundamentals underlying the big US stocks that dominate market action. They just finished reporting their Q4'19 results, whi...Read More