Financial Review

Sooner Rather Than Later

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-06-18-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe DOW + 180 = 18,115 SPX + 20 = 2121 NAS + 68 = 5132 10 YR YLD + .04 = 2.35% OIL + .53 = 60.45 GOLD + 16.90 = 1203.00 SILV + .04 = 16.26   Three straight days of gains on Wall Street.  The Nasdaq finished up 68 points, or 1.3%, to 5132.95 and hit a new intraday record high of 5143.32. That tops its previous all-time intraday high of 5132.52, set back in March 10, 2000. The Nasdaq’s previous closing high of 5,106.59 was notched much more recently, on May 27. The rally was broad-based as all 10 S&P sectors rose with health care leading the way and all 30 stocks of the Dow posted gains.   We start with economic data. The consumer price index rose a seasonally adjusted 0.4% last month, almost entirely because of a surge in gasoline prices ahead of the summer driving season. Gas prices shot up 10.4% to mark the largest gain in six years. The overall cost of food, meanwhile, was unchanged for the second month in a row. Stripping out the volatile food and energy categories, so-called core consumer prices rose a much milder 0.1% in May. The cost of housing, airline tickets and medical care all rose while clothing prices declined.   The Conference Board’s leading economic index rose 0.7% in May for the second month …

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Financial Review

Paulson, Bernanke, and Geithner Walk Into a Courtroom

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-10-06-2014.mp3Podcast: Play in new window | Download (Duration: 13:15 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review DOW – 17 = 16991 SPX – 3 = 1964 NAS – 20 = 4454 10 YR YLD – .02 = 2.42% OIL + .05 = 90.39 GOLD + 16.10 = 1207.80 SILV + .49 = 17.45 Stocks erased early gains. The Russell 2000 Index of small cap stocks took a hit of nearly 1%. Earnings season is right around the corner. Alcoa kicks off the unofficial start of earning season on Wednesday, and we’ll get 8 companies from the S&P500 reporting this week. The average estimate for the S&P500 calls for right at 5% earnings growth; however there are concerns about the impact of a strong dollar on overseas revenue. Not much in the way of economic data today. The economy added at least 200,000 new jobs in seven of the past eight months and all signs point to similarly strong hiring through the end of the year. The latest evidence? A ninth straight increase in the employment trends index produced by the Conference Board, a nonprofit economic-research firm. The index is now 6.1% higher than a year ago. Slightly less optimistic is the new, broader, all-purpose employment index from the Federal Reserve, it’s called labor market conditions index; it was up 2.5 points last month after an increase of 2.0 in August. This is a new index the Fed has built that draws on 19 separate jobs-related measures to give …

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Financial Review

Strange Days Indeed

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-10-02-2014.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review DOW – 3 = 16,801 SPX + 0.01 = 1946 NAS + 8 = 4430 10 YR YLD + .03 = 2.43% OIL + .59 = 91.32 GOLD + 1.30 = 1215.30 SILV – .08 = 17.20 The Dow Industrial dropped about 130 points in early trading, but then recovered, mainly In economic news: The number of Americans filing new claims for unemployment benefits fell last week by 8,000 to a seasonally adjusted 287,000. Separate data showed small businesses hiring workers at the fastest pace in 8 months. The National Federation of Independent Business said its monthly survey of its members found they added an average of 0.24 workers per firm last month, on a seasonally adjusted basis. Tomorrow the government will report on non-farm payrolls for September; we’re looking for about 220,000 net new jobs and the unemployment rate to hold near 6.1%. A report from the Commerce Department showed new orders for factory goods posted their biggest decline on record in August. Factory orders dropped 10.1%, following a 10.5% increase in July; the wild swings are attributed to orders for airplanes. Stripping out transportation orders, new orders were down a more modest 0.1%. Since June, the European Central Bank has lowered the interest rate on bank deposits parked at the ECB to negative territory, a first for this central bank, and added new lending and private-asset purchase programs. Today, the …

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Financial Review

Bring Your Umbrellas

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-09-29-2014.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review DOW – 41 = 17,071 SPX – 5 = 1977 NAS – 6 = 4505 10 YR YLD – .04 = 2.49% OIL + .59 = 92.61 GOLD – 4.40 = 1216.00 SILV – .20 = 17.56 Starting with economic data: Consumer spending accelerated in August. Consumer spending rose 0.5% last month after being unchanged in July. Growth in personal income ticked up 0.3%, in line with forecasts. Some of the strength in spending came from a decrease in the saving rate, which eased back from a 1-1/2-year high in July. One area where spending dipped – housing. The National Association of Realtors issued its index of pending home sales for August. Pending sales dropped 1% from an 11 month high in July. Signaling that upcoming closings of existing homes are likely to slow down, the index of pending home sales hit a seasonally adjusted 104.7 in August, compared with 105.8 in July. The Fed’s preferred gauge of inflation was up 1.5% in August from a year earlier, down slightly from the reading in July. Excluding volatile food and energy prices, so-called core prices also advanced 1.5% year over year. Price increases measured by the PCE index slowed to a 1% annual pace late last year before accelerating during the spring and then plateauing this summer. A separate measure also shows inflation is largely in check. The Labor Department’s consumer-price index rose …

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