Sometimes you have to take out your political lenses and look at the actual statistics to get a true picture of the health of the American economy. Right now, those statistics are saying a modest cyclical rebound following a very deep downturn could actually be turning into a full-fledged, V-shaped, recovery boom between now and year-end.
While Europe initially rallied on the Greek aid package (a 30 billion euro loan package at roughly 5 percent for 3 yrs, plus an additional 15 billion euros from the IMF if needed), most European markets are unchanged as we approach the open of the U.S. Greece will come to market with a 1.2 billion euro offering 0f 6 to 12 month bills tomorrow.
A committee of economists, charged with determining the official turning points in the nation’s business cycles, certifies the beginnings and ends of recessions. But this time, the evidence is not so easy to decipher, The New York Times reports.
...Is fear itself. Fear may be the single biggest obstacle holding back this stock market from the rise it truly deserves.
He may very well be the greatest central banker of all time. But with all due respect, Volcker’s call this week for a European-style VAT (as well as a carbon tax) is itself a historic mistake.
One of the largest health care service companies is set to file a multi-billion dollar initial public offering.
Mid-afternoon trading: fairly broad advance developing, with retail, transports, and banks leading the way. Weakness in semis really preventing techs from breaking out. Retail sales. The good news: you can't deny that consumer spending picked up. What do retailers do from here?
Cramer discusses the political fate of this abundant commodity.
The Rubin/Prince mea culpa on Citigroup that is playing out on our air elicited very little trader commentary, until Mr. Prince said that he watched the stock go from $50 to $30 to 99 CENTS without selling any. That caused a few comments!
Most European indices are down 1 percent or more this morning, as concerns about Greece continues. The spread on the 10-year Greek to comparable German bonds widened to 440 basis points. The dollar is up again. Also: March retail sales were even better than analyst expectations, despite the fact that analysts were aggressively raising numbers going into the end of the month.
Surprise! Stocks staged a modest rally — before slipping back on Fed rate-hike comments — on the results of the 10-year Treasury auction, which yielded 3.90 percent, above expectations of a yield of 3.94 to 3.95 percent. Indirect Bidders (generally viewed to be central banks) was 43.1 percent, well above the average of 40.6 percent...
The Greek sovereign debt crisis is expanding and tightening its stronghold in record numbers.
Yikes! The Mortgage Bankers Association reported that 30-year fixed rate mortgages jumped a quarter point to 5.31 percent (!!) last week, the highest level level since August. Little wonder the volume of mortgage applications fell 11 percent. Also: retailer optimism and a caution on bank earnings. (UPDATED)
The central bank basically sees no inflation at all on the horizon. They’re showing no imminent sign of ending their ultra-easy money for an extended period any time soon. But my message to them and to investors is this: Are you sure about this low-growth recovery?
Yikes! The Mortgage Bankers Association reported that 30-year fixed rate mortgages jumped a quarter point to 5.31 percent (!!) last week, the highest level level since August. Little wonder the volume of mortgage applications fell 11 percent. Also: retailer optimism and a caution on bank earnings.
Is commercial real estate back? REITs and big banks lead the upside today. Strong volume in real estate ETFS today, like the ProShares Ultra Real Estate, as well as the ProShares UltraShort Real Estate ETF. Why are REITs rallying? Several reasons...
Growing soverign debt speculation has renewed anxiousness about Greece's financial footing as borrowing costs sharply increase.
FOMC minutes today: Is this the time to push more aggressively to eliminate the "exceptional and extended" language? Aside from a lone dissenter, there has not been any indication that the Fed will end its key statement that interest rates "are likely to warrant exceptionally low levels of the federal funds rate for an extended period."
April has started off well, already up 1.1 percent for the Dow. Remember, April is the still the best month for the Dow Industrials, up an average 2 percent since 1950, though there is often a dip right after the tax deadline ends. And: Banking and housing stocks have seen dramatic moves this year, and are the subject of two interesting analyst calls this morning.
With the March jobs report now behind them, traders are beginning to turn their attention to the upcoming earnings season, which officially kicks off next Monday with Alcoa’s report after the close. Traders are hoping the Deutsche Bank downgrade of Alcoa this morning isn’t an indication of broader earnings season headwinds.