Stocks ended mixed on Wednesday as oil prices fell another 3%. Economic data was relatively light. Import prices fell -0.2% last month and economist’s were expecting a decline of -0.1%. Over the past year, import prices slid -2.2%, which was the smallest decline since October 2014. In other news, shares of Apple Inc. (AAPL) broke…
5 Things you may not know: Today is the eight year anniversary of Lehman Brothers filing for Chapter 11 bankruptcy protection in what still is the largest bankruptcy filing in US history. It is said that this default started the maniacal Bernanke’s and then the rest of the world’s dive into the depths of easy money,…
Market Update: Stock futures are a little higher ahead of Thursday’s open as investors digest a volatile week on Wall Street. Gary’s Thoughts: Futures up a wee bit. Apple gets numbers raised as the stock is back in favor for the first time in since summer of 15…but still decently below old highs. Again, short term damage…
Stocks fell hard on Tuesday, giving back Monday’s rally, alongside other so-called “risk-on” markets. Oil prices plunged after the The International Energy Agency (IEA) reduced their outlook for oil in 2017. The IEA said the global economy is slowing down due to lackluster demand and supply remains very strong. That is a perfect recipe for lower…
Market Update: Stock futures are a little higher ahead of Wednesday’s open as investors digest a volatile three day’s on Wall Street. Gary’s Thoughts: About .3% higher this morning. Another body blow yesterday. Economic Data: Bank Reserve Settlement Market Focus MBA Mortgage Applications 7:00 AM ET Import and Export Prices 8:30 AM ET EIA Petroleum Status Report 10:30 AM ET…
Stocks opened lower and closed higher after buyers showed up after a few Fed heads came out on Monday and hinted at a slightly dovish stance. The big news came from Fed’s Brainard after she said it would be prudent to wait for a while before raising rates. She made the case that the “data” does…
Market Update: Stock futures are down big ahead of Tuesday’s open as investors digest a volatile two day’s on Wall Street. Gary’s Thoughts: But…futures down decently. Volatility is back and the mantra “don’t blink” is back. Central bank-controlled markets. Economic Data: NFIB Small Business Optimism Index 6:00 AM ET Redbook 8:55 AM ET 4-Week Bill Auction 11:30 AM ET…
Market Update: Stock futures are down big ahead of Monday’s open as Friday’s strong sell-off continues. Gary’s Thoughts: Amazingly, after one big down day, Fedhead Lockhart already out trying to roll back potential for a rate hike. Leave no doubt that these buzzards are watching and reacting to one thing and one thing only…markets. They know…
“OOOPSY!” By Gary Kaltbaum September 11,2016 Our overall central bank theme remains the same. For longer than we can count, we believe every asset price, every data point and every economic statistic is off of the easiest monetary policy in the history of time…and to the trillionth power. We believe central banks can never roll…
Before Thursday’s open, the ECB held their latest meeting and did not increase or extend QE and held rates steady. Initially, that disappointed some investors who wanted more easy money from the ECB. Mario Draghi, head of the ECB, said the European central bank did not discuss an extension of QE but did say the program will…
