Financial Review

That’s Her Story

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-02-10-2016.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: iTunes | Android | RSSFinancial Review by Sinclair Noe for 02-10-2016   DOW – 99 = 15,914 SPX – 0.35 = 1851 NAS + 14 = 4283 10 Y – .02 = 1.70% OIL – .64 = 27.30 GOLD + 8.00 = 1197.80   Fed Chair Janet Yellen delivered her semi-annual Humphrey-Hawkins testimony in Washington today in her first major appearance since the Fed’s rate hike last December. In prepared testimony, Yellen said

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Financial Review

By Land and Sea

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-01-11-2016.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: iTunes | Android | RSS  Financial Review by Sinclair Noe for 01-11-2016 DOW + 52 = 16,398 SPX + 1 = 1923 NAS – 5 = 4637 10 Y + .03 = 2.16% OIL – 2.04 = 31.12 GOLD – 10.40 = 1095.20     Chinese stocks saw another big drop. China’s Shanghai Composite tumbled 5.3% on Monday, bringing its 2016 loss to 14.8%. The sell-off did not trigger circuit breakers because the Chinese exchanges gave up on that idea after last week’s big declines. The decline came even after the yuan gained following a second intervention from the central bank.   Oil prices are sharply lower to start off the week as concerns over demand from China impact trading again, along with some fresh worries. Morgan Stanley is the latest major investment firm to forecast oil prices could fall into the $20s with the U.S. dollar continuing to strengthen against major currencies. WTI crude futures dropped under $32 a barrel; that is a 12 year low. And remember this is at a time of increased tension in the Middle East; forget the fear premium, at least unless shipments are actually disrupted. Meanwhile, oil is being pumped out of the ground as if price doesn’t matter. Maybe we need to re-think the idea that oil-dependent economies like Saudi Arabia aren’t so much pumping oil now to defend market share but to get oil out of the ground while it has any value at all. …

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Financial Review

Knock On

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-11-16-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: iTunes | Android | RSSFinancial Review by Sinclair Noe for 11-16-2015 DOW + 237 = 17,483 SPX + 30 = 2053 NAS + 56 = 4984 10 YR YLD – .01 = 2.27% OIL + 1.32 = 42.06 GOLD – 1.80 = 1083.10 SILV – .03 = 14.35   World leaders wrapped up G-20 meetings in Turkey with a vow to boost intelligence-sharing, cut off terrorist funding and strengthen border security in Europe, as they sought to show resolve and unity following the deadly terror attacks in Paris. This year’s G-20 agenda also included efforts to hasten global economic growth, with a particular focus on addressing the effects of China’s economic slowdown. French warplanes launched an assault on ISIS targets in Raqqa, Syria. Meanwhile, the authorities in France announced that they had conducted sweeping police raids around the country overnight, detaining two dozen people.   ISIS released a video today saying they will strike Washington. The Department of Homeland Safety said it had no “specific credible information of an attack on the U.S. homeland.” CIA Director John Brennan said he would be surprised if the group doesn’t have additional attacks in preparation.   Markets across the globe are still processing the weekend’s coordinated terrorist attacks in Paris. Asian exchanges traded lower overnight. European shares reversed early losses and closed in positive territory. The euro dropped, as investors scrambled for safe-havens like the U.S. dollar.   French President Hollande declared that …

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Financial Review

Bargain Bloodhounds

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-11-13-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: iTunes | Android | RSSFinancial Review by Sinclair Noe for 11-13-2015 DOW – 202 = 17,245 SPX – 22 = 2023 NAS – 77 = 4927 10 YR YLD – .04 = 2.28% OIL – .99 = 40.76 GOLD – 1.10 = 1084.90 SILV – .03 = 14.38   The S&P 500 moved into negative territory year to date, for the first time since Oct. 22. The Dow Industrial Average is also down year to date, moving below the 200-day MA, with a weekly loss of more than 650. Commodity prices are weighing heavily on the markets, following yesterday’s report showing crude oil stockpiles were 4 times higher than market expectations. Still, the IEA predicts that supplies outside OPEC will decline next year by the most since 1992 as low prices take their toll on the U.S. shale industry.  Meanwhile, the dollar index is trading just above 99. That would put it within striking distance of 100.40, its highest level in 12 years.   Retail sales rose a seasonally adjusted 0.1% last month. Sales were revised lower in September to show no gain. Sales were also flat in August. In October, sales were held down by lower spending at auto dealers, gas stations and grocery stores. Although the number of autos sold last month was quite strong, sales fell a seasonally adjusted 0.5%, perhaps suggesting heavier discounting. Stripping out gas and autos, U.S. retail sales rose a somewhat better …

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Financial Review

The Courage to Act, or Not

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-10-05-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: iTunes | Android | RSSFinancial Review by Sinclair Noe for 10-05-2015   DOW + 304 = 16,776 SPX + 35 = 1987 NAS + 73 = 4781 10 YR YLD + .07 = 2.06% OIL + .72 = 46.26 GOLD – 2.50 = 1136.90 SILV + .40 = 15.77   The Dow Industrial Average has gone from a low of 16,013 Friday morning after the jobs report to an intraday high today of 16,798, or a swing of 785 points. The S&P 500 rose for a fifth session in a row, its longest winning streak this year   The US, Japan and 10 other Pacific Rim economies have reached agreement to strike the largest trade pact seen anywhere in two decades. The Trans-Pacific Partnership covers some 40% of the global economy and will create a new Pacific economic bloc with reduced trade barriers relating to the flow of everything from beef and dairy products to textiles and data as well as new standards and rules for investment, the environment and labor.   Former Fed Chairman Ben Bernanke has published a new book, entitled “The Courage to Act” and so he’s making the rounds. In a CNBC interview, Bernanke said that slow productivity growth is weighing on the economy, and there’s too much reliance on the central bank. He said other policymakers in the government need to step up. He refused to second guess current Fed Chair Janet Yellen on …

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Financial Review

Pick Your Poison

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-06-29-2015.mp3Podcast: Play in new window | Download (Duration: 13:15 — 6.1MB)Subscribe: iTunes | Android | RSSFinancial Review by Sinclair Noe DOW – 350 = 17,596 SPX – 43 = 2057 NAS – 122 = 4958 10 YR YLD – .15 = 2.33% OIL – 1.30 = 58.33 GOLD + 5.90 = 1181.10 SILV + .01 = 15.86   Late Friday, Greek Prime Minister Alexis Tsipras called for a July 5 referendum on whether to accept the latest offer from Greece’s creditors. That meant that Greece would not pay $1.8 billion to the Troika due tomorrow. The European Central Bank responded by halting emergency lending to Greek banks.  With emergency aid to the country frozen, Athens has imposed capital controls to halt bank runs and confirmed that the country’s banks would remain shut for six working days; Greek banks are closed and the Greek stock market is closed, possibly until the July 5 referendum. ATM withdrawals are being capped at €60-euro-per-day.   We’ve been watching the problems in Greece for a long time. A few years ago, we knew Greece had a debt problem; that was back when they were lumped together with Portugal, Italy, Ireland, and Spain. They were called the PIIGS. The Troika of the European Central Bank, the International Monetary Fund, and the European Monetary Union, decided to crack down on the PIIGS; prescribing a big dose of austerity; the cure has been debilitating. Spain is dealing with 22% unemployment, Italy with 12.4% joblessness, Portugal at 13% (with …

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Financial Review

Dignity

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-06-26-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: iTunes | Android | RSSFinancial Review by Sinclair Noe DOW + 56= 17,946 SPX – 0.82 = 2101 NAS – 31 = 5080 10 YR YLD + .08 = 2.48% OIL – .07 = 59.63 GOLD + 1.30 = 1175.20 SILV – .09 = 15.85   For the week, both the Dow and S&P 500 fell 0.4 percent while the Nasdaq fell 0.7 percent. Nike rose 4.3 percent to $109.71 and was the biggest boost to the Dow after reporting a better-than-expected quarterly profit, lifted as it sold more high-margin shoes and apparel at higher prices.   Micron Technology sank 18 percent to $19.66 a day after forecasting a further decline in prices of chips used in personal computers. It also gave a revenue outlook for the current quarter that was well below market estimates. The PHLX Semiconductor index (SOX) fell 2.4 percent.   The Supreme Court has ruled that same sex couples have a constitutional right to marry nationwide. Voting 5-4, the justices said states lack any legitimate reason to deprive gay couples of the freedom to marry. The ruling in support of marriage equality was widely expected, given the Supreme Court’s previous ruling on the issue. In June 2014, the Supreme Court overturned the 1996 Defense of Marriage Act, opening up federal benefits to same-sex married couples. It heard two cases: Hollingsworth v. Perry, the successful challenge to California’s Proposition 8 measure, a 2008 ballot initiative that banned …

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Financial Review

Applesauce

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-06-25-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: iTunes | Android | RSSFinancial Review by Sinclair Noe DOW – 75 = 17,890 SPX – 6 = 2102 NAS – 10 = 5112 10 YR YLD + .02 = 2.39% OIL – .57 = 59.70 GOLD – 2.10 = 1173.90 SILV – .04 = 15.94   The Supreme Court ruled to save subsidies for as many as 8 million people under the Affordable Care Act. In the case of King v. Burwell, justices determined that the subsidies should be available in states that don’t have their own exchanges. The court determined that the broader context of the ACA allows subsidies to all those under the Obamacare program. Justices voted 6-3 in favor of upholding the subsidies with Chief Justice John Roberts and swing vote Justice Anthony Kennedy joining the majority.   Obamacare, technically titled The Affordable Care Act, gave states the option to build their own healthcare marketplaces or simply use one operated by the federal government. In all, 34 states decided to rely on the federal “exchange.” And about 8 million low- to moderate-income Americans are now receiving subsidies of on average $260 a month through the federal exchange. But in a lawsuit challenging the law, critics insisted the federal government is not allowed to subsidize insurance in states that rejected their own exchange for the federal system. Those critics based their argument on a single phrase in Obamacare that refers only to participants enrolled through an …

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Financial Review

A Spidey Monday

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-06-22-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: iTunes | Android | RSSFinancial Review by Sinclair Noe   DOW + 103 = 18,119 SPX + 12 = 2122 NAS + 36 = 5153 10 YR YLD + 9 = 2.36% OIL + .07 = 59.68 GOLD – 14.40 = 1186.90 SILV + .09 = 16.27   The Nasdaq Composite set a new closing and intraday record, topping the highs set on Thursday. The Russell 2000 gained 7 to close at 1292, a record high. The S&P 500 is a stone’s throw from record highs at 2130. Eurozone leaders are held an emergency summit today to “urgently discuss the situation of Greece at the highest political level.” The summit comes just eight days before Athens needs to make a crucial €1.6-billion-euro payment to the IMF. Over the weekend, Greek PM Alexis Tsipras submitted a new reforms package to foreign creditors, signaling eleventh-hour concessions to avoid a possible default. The Greek government said its proposals included steps to eliminate early retirement options, hike the sales tax, increase tax surcharges that middle- and high-income earners pay and to introduce a levy on companies with annual net income of more than about $570,000.   Eurozone finance ministers welcomed the Greek proposals for a cash-for-reform deal but said they required detailed study and it would take several days to determine whether they can lead to an agreement to avert a default. The ministers agreed to reconvene later this week. And even if there is …

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Financial Review

King v Burwell Plan B

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-06-09-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: iTunes | Android | RSSFinancial Review by Sinclair Noe DOW – 2 = 17,764 SPX + 0.87 = 2080 NAS – 7 = 5013 10 YR YLD + .04 = 2.42% OIL + 1.81 = 59.95   Each month the Labor Department reports on nonfarm payrolls, usually that report comes out on the first Friday of the month; a few days later they release the JOLT survey, Job Openings and Labor Turnover from the prior month. Job openings at US workplaces rose to 5.3 million in April from 5.1 million in March. That’s the most job openings in 14 years, and those job openings were spread among industries, including health care, retailers and providers of professional services. Now, keep in mind that this is the Job Openings from April, and we just saw the May Jobs report, which showed that the unemployment rate ticked up from 5.4% in April to 5.5% in May; and the reason the unemployment rate was higher is because more people entered the labor pool. Most of the nearly 400,000 new job seekers were under the age of 25.   While the number of job openings soared, employers are still taking their time filling them. Total hiring in April fell to 5 million from 5.1 million. The disparity between more openings and flat hiring suggests employers are being picky about new hires. Many companies say they are having difficulty finding qualified workers. They may not …

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