Italian officials and bank executives have agreed to create a €5 billion ($5.7 billion) fund to help lenders that are in quite the trouble. Only one problem…there is about €360 billion of bad loans. There is a lot more where this came from in many other countries. Remember what we have told you, places like Greece were not…
Stocks opened higher but ended near their lows as seller showed up in the afternoon. Before the open, rumor spread that central banks and governments should begin buying bank stocks to boost the market. Meanwhile, the US dollar fell to a fresh 9-month low which sent gold, silver and several other commodities higher. In other news, Goldman Sachs…
We wrote to you this morning about Italy talking about using their money (debt) to buy up their beleaguered bank stocks. We once wrote to you years ago and asked sarcastically “why don’t central banks just buy up the whole f—ing S&P? Well…now comes this: By Nishant Kumar (Bloomberg) — Central bank policy makers in…
“GOVERNMENTS GETTING DEEPER INTO THE MARKETS” April 11,2016 We do not make this stuff up! The first two paragraphs are from this morning: Italian Treasury and central bank officials will meet with executives of major banks, including UniCredit SpA and Intesa Sanpaolo SpA, on Monday to discuss the creation of a fund that would buy…
Stock Market Overview: Futures are up ahead of Friday’s open as investors digest this week’s decline. Gary’s Thoughts: And we indeed get the obligatory gap to the upside today. Remember, Yellen is going to lower rates and print more money. That is our belief. By they way, did you notice nothing but negative market articles this…
Stocks fell on Thursday as sellers finally showed up. The selling began in Asia and Europe and continued in the U.S. Japan’s stock market continued to fall as the Yen soared. European stock markets were mostly lower even though the European Central Bank (ECB) hinted at even more easy money! President Mario Draghi wrote in…
Stock Market Overview: Futures are lower ahead of Thursday’s open as markets remain lower for the week. Gary’s Thoughts: We expected to wake up from our let lagged fog to see a strong Europe and Asia overnight but nothing doing. As we mentioned last night, they are lagging badly. Not sure it is meaningful…but something to…
Stocks rallied on Wednesday, helped by more easy money from the Fed and a big rally in a slew of Biotech (IBB) and Healthcare (XLV) stocks. Transportation stocks lagged for most of the day as they pause to digest the recent rally. The Fed released the minutes of their latest meeting and the minutes reiterated…
Stock Market Overview: Futures are up a little ahead of Wednesday’s open as stock markets across the globe fell on Tuesday, led by steep declines in Europe and Japan. Gary’s Thoughts: Watching oil prices up sharply this morning. Oils/energy been on rest/pullback past few weeks. Otherwise, refer to what we said last night. Massive earnings just ahead!…
Stocks fell on Tuesday as global selling continued on sluggish global economic growth. Japanese and European stock markets fell after the IMF warned of a global economic slowdown. Overnight, India’s Central Bank joined the easy money party and lowered its key interest rate to 6.5%, from 6.75%. Meanwhile, Australia’s Central Bank held rates stead. In the…
