They may say it's not political, fine. Let's look at the rate for the entirety of Obama's term and then let's look at what happens to the rate over the next 4 years. I'll make a prediction. If Hillary wins, the rate will stay low. If Trump wins, the rate will rise.
nikkei flying high, is to be expected. gold also up flirting with 1340, lets see if it can hold those gains going into our session
good morning stockaholics! Spoiler: Thursday September 22nd 2016 Stock Market Movers & News Good morning Stockaholics! Happy Thursday! Frontrunning: September 22 Stocks Advance in Unison With Bonds as Fed Inspires Global Rally (BBG) Soothing Fed gives stocks their mojo (Reuters) Yellen helps Clinton dodge a bullet (Politico) State of emergency called to quell Charlotte unrest over police shooting of black man (Reuters) Hillary Clinton Leads Donald Trump by Six Points in Latest WSJ/NBC Poll (WSJ) Trump praises 'stop-and-frisk' police tactic (Reuters) Oil bet gone wrong: rusting tankers and rigs clog up Asian waters (Reuters) America Is Not the Greatest Country on Earth. It’s No. 28 (BBG) EU Banks May Need Rescue Funds Equaling Twice ECB Capital (BBG) Venezuela election board sinks push for Maduro referendum in 2016 (Reuters) Wall Street’s Stock-Selling Business: The Worst in 20 Years (WSJ) Biden warns Ukraine on reforms, says EU sanctions on Russia at risk (Reuters) The Professor Who Was Right About Index Funds All Along (BBG) China gets steelier about debt restructuring (Reuters) Hanjin Gets $45 Million Credit Line From Korean State Lender (BBG) China supervisory body approves launch of credit default swaps soon (Reuters) Denmark's Maersk alters course with freight and energy split (Reuters) Mylan CEO Faces Tough Questioning in Congressional EpiPen Hearing (WSJ) Death toll from air strike in Yemen rises to 26 (Reuters) STOCK FUTURES NOW: FRIDAY'S MARKET MAP: TODAY'S ECONOMIC CALENDAR: MOST ACTIVE TRENDING PRE-MARKET DISCUSSIONS (SYMBOLS ARE CLICKABLE!): BABA YHOO AMZN X EGLT AZO RHT BBBY WCIC RAD MACK SAEX SFLY PCLN JBL FTI SEAS BP PG DIS UVXY NFLX FBR NVDA BHP TODAY'S EARNINGS CALENDAR: THIS MORNING'S PRE-MARKET NEWS MOVERS: AZO, RAD, CBS, SEAS, BBBY, YHOO, WCIC source: cnbc.com AutoZone — The autoparts retailer came in 5 cents a share ahead of estimates, with quarterly profit of $14.30 per share. Revenue missed forecasts, however. Comparable-store sales rose by 1 percent, and AutoZone posted a double-digit increase in year-over-year earnings for the 40th straight quarter. Rite Aid — The drugstore chain earned an adjusted 3 cents per share for its latest quarter, 1 cent a share above estimates. Revenue was slightly shy of analysts' forecasts and same-store sales dropped 2.5 percent. Rite Aid is in the process of being acquired by Walgreens Boots Alliance and still expects the deal to close before the end of the year. WCI Communities — The luxury home builder agreed to be bought by rival Lennar for $643 million in cash and stock, or $23.50 per share. That represents a 37 percent premium for WCI shareholders compared to Wednesday's close. CBS — The media company's stock was downgraded to "market perform" from "outperform" at Telsey Advisory Group, which cites the increasing likelihood that CBS will combine with Viacom. Telsey feels CBS has better metrics by itself than it would when combined with Viacom. SeaWorld Entertainment — The theme park operator's stock was upgraded to "buy" from "neutral" at Citi, saying pricing pressure should be offset by cost cuts and that SeaWorld will benefit if it redeploys cash saved by a recent dividend cut toward new capital expenditures. Bed Bath & Beyond — The household goods retailer reported quarterly earnings of $1.11 per share, 5 cents a share below estimates. Revenue also came up short, with the company's same-store sales falling a worse than expected 1.2 percent for the quarter. The company did reaffirm its prior forecast for the full year, however. Yahoo — Yahoo will confirm a massive data breach later this week, which impacted several hundred million accounts, according to a Recode report. Jabil Circuit — Jabil beat estimates by 3 cents a share, with adjusted quarterly profit of 28 cents per share. Revenue also beat forecasts. The electronics supplier gave better-than-expected revenue guidance for the current quarter, as well, and announced infrastructure changes to deal with what it calls a more moderate growth environment. Red Hat — Red Hat reported adjusted quarterly profit of 55 cents per share, 1 cent a share above estimates. The Linux software provider's revenue was above forecasts, as well. Red Hat raised its guidance for the full year as demand rises for its software and cloud services. Wal-Mart — Wal-Mart will have to face a class action lawsuit in a case involving alleged bribery at the retail giant's Mexican unit. Wal-Mart is accused in the suit of defrauding shareholders, but Wal-Mart said a class action is "not appropriate" and may appeal the decision to certify a class action. Lockheed Martin — The defense contractor's Sikorsky helicopter unit struck a $220 million deal with the state of Connecticut, keeping production in the state through June of 2032 and providing incentives for the company to boost hiring. Schlumberger — The oilfield services company won part of a $3.2 billion drilling project in Venezuela, a few months after a drastic scaleback in that country and firing hundreds of workers. Weyerhaeuser — The stock was added to the "Conviction Buy" list at Goldman Sachs, in a new report on the paper and forest products sector that rates it "neutral" overall. Goldman said the company's particular specialties give it substantial leverage to a housing recovery. Good trading day to everyone in here on this Thursday!
Not trying to be a pessimist, although I do question everything, but its refreshing to read what others have to say once in a while. Lately, I've seen more money managers dish out more sinister outlooks than before. From Singer to Gundlach all have warned of unsustainable prices. Maybe it amounts to nothing, but its something to keep in the back of your mind. For what its worth: 'Sharp Correction' Set to Hit Stock Market Investors, Templeton's $38 Billion CIO Says A penchant for safety in global stock markets is about to blow up in investors’ faces, says Norm Boersma, the $38 billion chief investment officer of Templeton Global Advisors Ltd. Boersma, who spends half his time on investing and the rest running the company, says the tough slog for the value style since 2008 must soon come to an end. The rally in global equities since mid-February shows some evidence of this, with MSCI’s all-country value measure beating both its growth and low-volatility equivalents. In the meantime, he says he’ll keep working on making sure his investors don’t panic. “We spend a lot of time trying to educate people that, when something hasn’t worked for a while, that’s an opportunity, not a risk,” he said. “That’s part of the reason value investing works. People tend to get caught up in emotions and overdo things both on the upside and the downside.” http://www.bloomberg.com/news/artic...lion-ceo-sees-bond-refugees-distorting-stocks -------------------------------------- Hedge-fund manager warns of biggest market correction since 2008 Hedge-fund manager Robert Citrone, whose Discovery Capital Management firm oversees about $12.4 billion, offered his clients a grim assessment of what’s to come in the stock market, according to a note obtained by Bloomberg We believe we are in the midst of the market correction we have been expecting. It will likely persist over the next 3-4 months and be the largest correction since the 2008 crisis. -- Robert Citrone http://www.marketwatch.com/story/he...ggest-market-correction-since-2008-2016-09-21
Weird thing is that when this is all over the airways I feel its not going to happen. Again I was thinking the retracement would have to be deeper than just 1-2 weeks.
looks like gold is still holding its overnight gains. TWLO slowly working its way back to its all time high
I agree. Not enough retail participation in the broader market (yet). Most are still tied to the outdated 60/40 portfolio weighting. But there are some pockets within the market that are starting to receive far too much speculative money. This market resembles the one in 2013 when one week of declines prompted new highs two to three weeks after. The only problem is market breadth is narrowing and not expanding as in 2013. This is a market that is choosing specific stocks to rally and finding solace parking some money in value in energy. But that can't last forever. Not unless the MSCI World Index clinches and hold to new highs. Until then, your only left with buying momentum and selling puts as backstop. A trade below $210 - $212 SPY heeds caution. A trade below $203 -- $207 is a sign of something larger unraveling. $212.19 needs to hold. After 18-months of bupkis/consolidation the onus now turns to bulls to fetch higher prices to sustain the recent distribution phase. The Fed re-investing proceeds from expiring maturities is code word for -- 'you keep leveraging up, we'll take on the risk'.
na, S&P on its way to retest all time highs, if we close at or around this current level today, i get a feeling we are heading back to that all time high.
Yeah there really isn't much new money coming into the system. Market has gone no where for almost two years, just traders and computers volleying the ball back and forth. What happens to a ponzi scheme when the injection of new capital is turned off? Not that the market is a ponzi scheme, but still both require constant inflow of new money to survive. Last hope is to sucker the retail investors back in, but so far they have been reluctant to take the bait. Maybe 2000 and 2008 is still to fresh in their minds for greed to take hold.
The highlighted sentence is what defines global markets. Without new money, the revolving door that is the stock market ceases to operate. They live off us.Wether its money center banks, algorithmic firms, mutual funds, brokers, etc they all want a piece of the pie. Some play for a slice of the pie, while others are content with the crumbs. Small fish like us live off crumbs. Easier said than done. On any moments notice we can get swallowed whole like a blue whale feasting on krill. Besides a non-existent economic recovery, confidence in banks, government and the system was tarnished for good in 2008. It will not come back. Its like when you spill wine on a white T-shirt and let the stain sit for a whole day; the stain ain't coming off even if you bleach it. And even if most of the stain comes off, the T-shirt will not be restored to its original configuration. Same can be said on confidence in the system. No matter how they choose to portray what we all have to live with, what they say, or who badly they chastise one another aimed at distracting form the real problem, more and more people are just non-believers in the system. Some show their lack of support for the right reasons, other for the wrong reasons and the rest blatantly confused, but equally as disatissfied of a system that has disfranchised them for no real purpose. And this is all plays directly to how people respond to investing. Central banks are forcing everyone to the riskier part of the investment curve, guaranteeing bad debts and even become central forcess in pushing asset prices higher in the face of currency devaluation, but even that is not driving large sums of people to buy anything (not just stocks). Eventually, when people realize individual companies are not at the core of the problem and run little risk, will the tables turn. You'll get people to invest -- some for the right reasons and other for the wrong reasons. But of course, they'll buying off the hands of money center banks. Doesn't mean markets can't trade higher, it just mans the risk is transferred to you and once again.
Anyone got a Yahoo account? Yahoo to provide details on massive data breach - Recode Recode's report follows an Aug. 1 story on the technology news site, Motherboard, which said a cyber criminal known as Peace was selling the data of about 200 million Yahoo users, but did not confirm its authenticity. http://finance.yahoo.com/news/yahoo-details-massive-data-breach-140207777.html
Oh the power of the Fed. I'm a little late to this party, but what a beautiful pop off the 50 DMA...an subsequent touch of the RTL. Tomorrow should be interesting. Given the strength, or conviction?, of the 50 DMA bounce, I'm looking for a crack in the RTL, similar to the 3x cracks we saw in early, mid, and late August. If so, I'm looking to overweight my BCS-leg with another mini-trache.
