Financial Review

May Day

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-05-01-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe DOW + 183 = 18,024 SPX + 22 = 2108 NAS + 63 = 5005 10 YR YLD + .07 = 2.11% OIL – .29 = 59.34   For the week, the Dow dropped 0.3%, the S&P 500 fell 0.4% and the Nasdaq was down 1.7%. May kicks off what has been the worst six months for stocks historically which has brought rise to the old saying “sell in May and go away.” Sometimes it works but no guarantees.   The Detroit 3 automakers reported solid April sales as new models and cheap loans lured even more buyers into what’s already a brisk-moving new-vehicle market. Fiat Chrysler reported sales jumped 6% in April, GM gained 5.9% and Ford rose 5%. Still, their stocks were mixed. Ford and GM were higher, Fiat Chrysler was down.   Merchants displeased with the high fees American Express charges them are permitted to steer customers toward less expensive cards without fearing retaliation from the credit card company. A Judge in Brooklyn federal court has ruled that American Express is not allowed to stop stores from offering discounts, rebates or other incentives for using lower-fee cards – an activity known as steering.    Construction spending fell in March to a six-month low as outlays on private residential construction spending declined sharply. Construction spending slipped 0.6 percent to an annual rate of $966 billion, the lowest level …

READ MORE →
Uncategorized

Thursday, May 02, 2013 – Dying to Work for Slave Wages

Dying to Work for Slave Wages by Sinclair Noe DOW + 130 = 14,831SPX + 14 = 1597NAS + 41 = 334010 YR YLD – .01 = 1.63OIL + 3.04 = 94.07GOLD + 9.30 = 1468.40SILV + .18 = 23.93 Yesterday the Federal Reserve left interest rates unchanged and announced they would continue buying $85 billion a month in Treasury bonds and mortgage backed securities; they might increase or reduce the purchases depending; they blamed politicians for fiscal policy, or lack thereof. Today, the European Central Bank cut interest rates for the first time in 10 months, promising to provide as much liquidity as eurozone banks need well into next year and to help smaller companies get access to credit. The ECB lowered its main interest rate by a quarter percentage point to a record low 0.50 percent in response to a drop in eurozone inflation to an annualized 1.2%, well below its target level, and rising unemployment. ECB President Mario Draghi said the central banks was “ready to act if needed’, should more be required to boost the eurozone’s economic health. Sounds good; doesn’t mean much. The late moves by the ECB probably won’t do much to lift the economic health. The best analogy I heard today was that the ECB action is like opening the windows in a convertible when the top is already down. In recent months there have been growing calls for European countries to move away from austerity measures. Both French President Francois Hollande and newly-elected Italian Prime Minister Enrico Letta …

READ MORE →
Uncategorized

Wednesday, May o1, 2013 – May Day

May Day by Sinclair Noe DOW – 138 = 14,700SPX – 14 = 1582NAS – 29 = 329910 YR YLD – .04 = 1.64%OIL – 2.54 = 90.92GOLD – 19.10 = 1459.10SILV – .70 = 23.75 It’s May Day. Maybe you all gathered round the May pole with colorful ribbons. Or maybe you commemorate the workers’ protests of 1886. Or maybe you think it’s all just a communist plot and you won’t celebrate May Day at all, you will take the advice of President Eisenhower and observe Law Day. Actually, the history of May Day is kind of interesting. It started with pagan celebrations dealing with Spring and fertility. May 1, 1886, protests erupted all across the United States, with some 340,000 workers taking part, demanding an 8-hour workday. An estimated 190,000 went out on strike. In Chicago, a center of the eight-hour day agitation, some 80,000 workers walked off the job, with most of them joining a vast parade through the city streets. Chicago police launched an assault on union members by gunning down locked-out workers at the nearby McCormick Harvester Plant. When an explosion of unknown origins went off at a subsequent protest rally at the Haymarket, a large open square in the city, police also opened fire on that worker gathering, killing some and wounding hundreds of others in what became known as the Haymarket Massacre. Radical labor agitators were arrested and blamed for the bloodshed, although most of them were not present at the rally. Four …

READ MORE →
Uncategorized

Tuesday, May 01, 2012 – The Return of Occupy Wall Street

DOW + 65 = 13, 279 SPX + 7 = 1405NAS + 4 = 305010 YR YLD +.04 = 1.96%OIL – .15 = 106.01GOLD – 2.10 = 1663.20SILV -.04 = 31.07PLAT + 3.00 = 1577.00 The Dow Industrials hit the highest point since December 2007. Later this week we’ll have reports on retail sales and the big monthly jobs report on Friday. Today, the ISM reported their manufacturing index rose to 54.8% last month from 53.4% in March. The results were much better than anticipated. We may have hit a top in the stock market: Former Federal Reserve Chairman Alan Greenspan said U.S. stocks offer good value and are likely to rise as corporate earnings increase over time. “Stocks are very cheap,” Greenspan said today at the Bloomberg Washington Summit hosted by Bloomberg Link, citing “a very low price-earnings ratio. There is no place for earnings to grow except into stock prices,” I mean, when Greenspan speaks it must be a contrary indicator. Today is the one year anniversary of the killing of Osama bin Laden. President Obama is in Afghanistan, and he’ll deliver a speech a little later. Today is also May Day. Occupy Wall Street is back; trying to resurrect the movement with May Day marches, which gained momentum through the day. Protesters marched on banks, chanted anti-corporate slogans, and clashed with police in an opening day of sorts for the movement’s summer revival. In New York, hundreds of protesters gathered in Union Square. A crowd surged out …

READ MORE →