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June 29, 2024
Cheaper with effect fed concluding its twoday meeting tomorrow at this time. Fromtle bit of unwind yesterdays trade. The dollar gaining versus the euro and the yen. There is less risk aversion at play. Where does that leave commodities . Energy and some metals are stabilizing. That is giving a lift to the index, which marked the only second gain in the session. Year to date, there is a dramatically different for a. Down 11 . You can see a series of lower lows here. Commended march, a recovery th...
June 29, 2024
Headquarters. Zealand,oing to new seeing some weakness down 1 10 of a percent. Snapping that losing streak that they saw. We saw comments from the governor talking about further cuts likely to come, but he said several factors could be supporting growth in new zealand. It is not weak enough for large rate cuts as some have been speculating. The new Zealand Dollars but is actually gaining. We are counting down to the opens in australia, japan and korea. We are expecting retail sales from japan co...
June 29, 2024
Another big asian selloff. China losing 8. 5 in overnight trade and the hang seng in hong kong also dropping 3 . Japan a more muted drop but i think you get the picture. Europe falling as well. Germany and france bearing the brunt of the selling and the drop continues through the usa. We are off the lows of the day but as you can see the dow is moving to the downside by 133 points right now. The nasdaq is off by 46 points. The s p down by 11. The russell 2000 is down by nearly 1 folks, or 11 poi...
June 29, 2024
In 18 months im turning over the keys. I want to make sure im turning over the keys to somebody who is serious about the Serious Problems that the country faces and the world faces. Note hes turning over the keys and he wants to make sure he is turning them over to someone who is serious. Last time i checked it was the American Voter who turned over the president s keys and American Voters that would be making the decision on who those keys would be turned over here. Is the president being too p...
June 29, 2024
Shanghai index was off 8 1 2 our time. That is the worst performance since 2007. Chinese regulators investing with the market. Investors losing confidence that china cant maintain its market that of course would set off a Ripple Effect through global economies. We saw action in the price of oil, falling on expectations of weaker demand and oversupply issues. What i found interesting so many house hole names do significant business in china. We saw breakdown of shares in prodly weak market. Apple...
June 29, 2024
Lets go straight to the markets in asia. New zealand starting things off, the Australian Dollar seeing some weakness. We did see it surge a little bit yesterday after the governor talked about needing some more depreciation. We are counting down to the opens in japan, australia, and south korea. In japan, we are expecting industrial output numbers. Nikkei down yesterday about. 1 . Futures unchanged, but pointing to a possible higher open. We saw a slide in the yen. With broad Dollar Strength at ...
June 29, 2024
Former fed chair Alan Greenspan will join us. A new program were monitoring. That call and any news out of the Conference Call as he examines a tesla. Right now. Relatedly, we do have solar city. Did he help build those cars . Work on the Assembly Line . There are teslas everywhere in norway. One of the biggest usages hydropowered, as well. Its so interesting. So anyway we have earnings coming up here, as well. Earnings getting crushed after weak guidance on the companys Conference Call last nig...
June 29, 2024
Those losses right after the numbers came out. And one of the reasons facebook shares may have traded lower is because the stock had run up so much in anticipation of strong earnings in a quarter where the company beat pretty much across the board. Revenue, earnings and user numbers all better than expected. Cfo david wayner who we spoke to right after those numbers were out telling us that video as well as growing engagement particularly on mobile devices are factors driving results. We have ne...
June 29, 2024
Economic earnings sent the indexes lower, facebook dropping 4 after it Second Quarter spending increase. Facebook really opening lower over the last two days. Whole foods is another loser after reducing its sales forecast. Lets move on to commodities. Nymex crude and brent moving a little higher. Brent a little bit more. They are still down again for as we have seen increased volume. Pimm look at this chart this is the biggest monthly chart. That is amazing. It is ugly and has changed a lot sinc...
June 29, 2024
Toward the close, just a few hours away from the closing bell. We are mixed right now. Digesting whatl the fed said yesterday, but also the gdp numbers that came out this morning, the second order gdp numbers. A bit of a disappointment there among economists in terms of the topline gdp growth. But we did see consumption of 2. 9 , and that seemed to be a bright spot. Also in the treasury markets, yes, you see the 10 year yield continues to come down. But the twoyear note is rising. The gap contin...