Financial Review

Feb 14, 2019 Links

Feb 14, 2019 Links What we are reading today:

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Financial Review

The Beatings Continue

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-11-09-2018.mp3Podcast: Play in new window | Download (Duration: 13:15 — 7.6MB)Subscribe: Apple Podcasts | Android | RSS…Stocks down for the day, up for the week. Oil drops for 10th straight session. Producer prices pop. Court blocks Keystone XL. Changes in asylum. Fighting reporters. Waiting on election results. Financial Review by Sinclair Noe for 11-09-2018

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Financial Review

More Records

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-01-11-2018.mp3Podcast: Play in new window | Download (Duration: 13:15 — 7.6MB)Subscribe: Apple Podcasts | Android | RSS….Record highs for Dow, S&P 500, Nasdaq, Russell. Producer prices fall in Dec. DACA deal dead. Walmart breaks the bank to $11 an hour plus bonus, closes 63 Sam’s Clubs. South Korea cracks down on cryptocurrency. Financial Review by Sinclair Noe for 01-11-2018

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Financial Review

Computer Says

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-06-13-2017.mp3Podcast: Play in new window | Download (Duration: 13:16 — 7.6MB)Subscribe: Apple Podcasts | Android | RSS…..Dow, S&P, and Russell hit record highs. Computers have taken over stocks. Wholesale inflation flat. Home prices pop. NFIB small biz optimism flat. CFO optimism wanes. Waiting on the Fed. Mr. Sessions in the briar patch. Russian cyberattack was bigger than thought. Financial Review by Sinclair Noe for 06-13-2017

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Financial Review

Thus Spake Yellen

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-10-14-2016.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSS…..Retail sales rebound. Consumer sentiment dips – blame the election, it is driving us crazy. PPI up. Treasury tackles earnings stripping. Janet Yellen on the grand experiment of economics and the path forward. Earnings: JPM (zero systemic problems but billions in fines), C, WFC (Ohio puts Wells Fargo on probation). A faster server. Financial Review by Sinclair Noe for 10-14-2016.

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Financial Review

Sneaking Through the Backdoor

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-02-17-2016.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe for 02-17-2016   DOW + 257 = 16,453 SPX + 31 = 1926 NAS + 98 = 4534 10 Y + .04 = 1.82% OIL + 2.35 = 31.39 GOLD + 8.10 = 1209.40   Three in a row; three up days, and good moves at that. If you believe the old adage that every stock market advance is short covering, you have some evidence to back your position. The most shorted stocks among Russell 3000 members gained 6.5% over just two trading days, Friday and Tuesday, while the least shorted issues trailed the Russell’s 4.6% advance over the same period. And while it looks like last Thursday’s lows provided some support in the short-term, it is too soon to see if that support will hold. Anyone who is calling a bottom in the market is just making stuff up. I don’t know, you don’t know. What we know is the markets have been all over the map in the past 2 months, flitting from one crisis to the next. The good news is that nothing has blown up yet. The bad news is that everything is volatile.   Russia, Saudi Arabia, Qatar, and Venezuela announced an agreement Tuesday to freeze oil production in an effort to ease the oil glut. On Wednesday, Iran said it wouldn’t join the effort, as its production just came back online following years of …

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Financial Review

Bad Things in the Midwest

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-05-14-2015.mp3Podcast: Play in new window | Download (Duration: 13:15 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe DOW + 191 = 18,252 SPX + 22 = 2121.10 NAS + 69 = 5050 10 YR YLD – .04 = 2.24% OIL – .77 = 59.73 GOLD + 6.30 = 1222.40 SILV + .35 = 17.55   The Standard & Poor’s 500 Index closed at an all-time high, taking out the previous closing high of 2117.69. The Dow is still about 36 points shy of its record closing high. The dollar is on track for its longest weekly losing streak since October 2013. The bond market rallied, just a little, which is at least a change from the past couple of weeks. The earnings season is winding down, and it was ugly, but it looks like there will be positive earnings growth coming from the first quarter numbers. The economic data has been tepid.   The number of Americans who applied for unemployment benefits in the first full week of May fell by 1,000 to 264,000. New claims have registered less than 270,000 for three straight weeks, only the second instance in which that’s happened since 1975. Continuing jobless claims, people already collecting benefits, were unchanged at 2.23 million in the week ended May 2.   Producer prices, or prices at the wholesale level, fell a seasonally adjusted 0.4% in April to mark the seventh decline in the last nine months, mainly because of lower gasoline and food costs. Core …

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Financial Review

Patience For Now

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-03-13-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe DOW – 145 = 17,749 SPX – 12 = 2053 NAS –  21 =  4871 10 YR YLD + .01 = 2.11% OIL – 2.05 = 45.00 At one point today, the Dow was down 250, so it could have been worse. For the week, the Dow was down 0.6% and the S&P 500 fell 0.9%. The Nasdaq was down 1.1% for the week. Today is Friday the 13th. All I can say is pure coincidence. We looked at the market for 148 Friday the 13ths, going back to 1928, there is no particular trend. In the last week of January we saw oil prices drop to right around the $45 a barrel level, with intraday lows of $44.37, but the daily closing price hovering just a little above $45. And in February, prices popped up to touch $55.05; prices challenging $55 on 3 days, and could not break out. So, now we are back to challenging support at $45. And waiting to see if the trading range will break down.   The International Energy Agency says oil prices remain fragile due to unrelenting production by US shale-oil producers. There has been an expectation that oil producers would cut back production in response to lower oil prices, but the IEA  report shows oil production in the US has increased by 115,000 barrels, and now we’re running out of places to store the …

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Financial Review

Justice Delayed is Par for the Course

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-02-18-2015.mp3Podcast: Play in new window | Download (Duration: 13:17 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe DOW – 17 = 18,029 SPX – 0.66 = 2099 NAS + 7 = 4906 10 YR YLD – .08 = 2.06% OIL – 2.56 = 50.97   The S&P 500 closed above 2,100 for the first time ever on Tuesday, delivering year-end target goals to Goldman Sachs, Credit Suisse and Barclays nearly 11 months early.   Greece confirms that it plans to submit a request to the euro zone tomorrow to extend a “loan agreement” for up to six months, but EU paymaster Germany says Athens must stick to the terms of its existing international bailout. Greece wants to maintain a budget surplus before interest payments equal to 1.5 percent of gross domestic product; the current plan calls for a budget surplus equal to 4.5 percent of GDP. It’s still unclear what the terms of the extension will look like, as both Athens and its creditors seem determined not to compromise over the loan’s conditions.   The Federal Reserve released minutes from the January 27-28 Federal Open Market Committee meeting. The minutes reveal that “Many participants indicated that their assessment of the balance of risks associated with the timing of the beginning of policy normalization had inclined them toward keeping the federal funds rate at its effective lower bound for a longer time.” Allow me to translate; the Fed would like to put off raising interest rates because the economy …

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Financial Review

Say Cheese

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-01-15-2015.mp3Podcast: Play in new window | Download (Duration: 13:17 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe DOW – 106 = 17,320 SPX – 18 = 1992 NAS – 68 = 4570 10 YR YLD – .06 = 1.77% OIL – 2.28 = 46.20 GOLD + 33.50 = 1263.60 SILV + .11 = 17.06 After going through all of 2014 without a losing streak of more than three days, the S&P 500 today completed its second slide of five straight days. The benchmark gauge is down 3.4 percent over the past five days. For the past 3 years the Swiss have kept their currency, the Swiss franc, from getting too strong; they imposed a cap to keep the euro from trading below 1.20 francs. In early 2010 one franc was less than 0.7 euro. By the middle of 2011 the franc was nearly at parity against the euro, a massive move in a very short period. As the Eurozone experienced economic strife, Switzerland was calm and offered a safe haven. As money poured in, the franc became more and more expensive; which means that things made in Switzerland became more expensive when the Swiss exported. So, they capped the franc. That basically involved printing more francs and buying more euros. Fast forward to 2015, and the Eurozone is once again experiencing economic strife; money is once again pouring into Switzerland as a safe haven, and after 3 years the Swiss just threw up their hands and …

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