U.S. jobs could return to pre-recession levels by 2014, according to some economists. The latest Wall Street Journal survey of economists, forecasters said they expect employers to add just under 180K jobs a month over the next 12 months, about the same pace as the past two years, but that should pick up as the economy continues to gather steam. For the full year, economists expect 2.4% growth - which is better than the past two years. [View news story]
Another manipulated news base on hope to get the retail in.
What global slowdown? Chinese April exports rose 14.7% Y/Y vs. 8.6% expected. Imports gained 16.8% vs. 11.6% expected. The trade surplus clocked in at $18.16B. Bloomberg's Adam Johnson: "Imports AND exports better than forecast; 18 hours ago German factory orders better and U.S. job postings up ... Connect the dots." Shanghai (FXI, CAF) +0.7%, Hong Kong (EWH) +0.8%. [View news story]
As if Chinese data is the most reliable data. Total B.S.
Calling recent stock market action a "buying stampede" unlike anything he's seen in more than 50 years of watching markets, Jeff Saut says the investors he talks to believe the rally is "artificially induced" and is set up for a crash. The big picture: QE remains, profits have risen along with stocks, the Advance/decline line has broken out to new highs - "there is nothing in the 'tea leaves' suggesting a repeat of double-digit declines" seen in the past 3 springs. [View news story]
"artificially induced" should read "artificially rigged"
"I'm very confident about the medium- and longer-term prospects of the Cypriot economy," says Harris Georgiades, Cyprus' new finance minister, who adds that the country has "some traditional industries, tourism and shipping amongst them." Despite downbeat commentary from the likes of Pimco's Mohamed El-Erian and harsh words from Mario Draghi regarding the country's gold sales, Georgiades says Cyprus "will remain a member of the eurozone. "That is our destiny," he says. [View news story]
It's "death bells" for commodities, says Citigroup, calling 2013 the year in which it's realized the commodity supercycle is over and a new era in which the relative performance of how "stuff" performs against each other and other assets is what matters. Specifically on oil, Citi calls Q1's move higher without merit and expects the recent downtick in prices to continue. [View news story]
Agreed. Don't forget they can lever up to buy Gold at firesale.
"I am amazed every day at this rally," says Jim Cramer. "It's very unusual to have the cyclicals, the techs, the financials and the drugs all move at once. It's reminiscent of other times where we saw a radical revaluation in the market." While others may see it as signs of another bubble developing, Cramer sees little evidence. "The S&P is only at 15 times earnings," he notes, and the bond market continues to be a place where you can't get any return. This rally Cramer says, is for real. [View news story]
Please remind him of Bear Stearns before its collapse.
"I am amazed every day at this rally," says Jim Cramer. "It's very unusual to have the cyclicals, the techs, the financials and the drugs all move at once. It's reminiscent of other times where we saw a radical revaluation in the market." While others may see it as signs of another bubble developing, Cramer sees little evidence. "The S&P is only at 15 times earnings," he notes, and the bond market continues to be a place where you can't get any return. This rally Cramer says, is for real. [View news story]
Right the rally is for real. Let the banks buy these cheap stocks. We all know Goldman and your hedge fund friends have to unload their shares.
As Q1 earnings season kicks off, the overall tone is more bearish than usual and negative company warnings have outpaced positive revisions nearly five-to-one. Earnings growth is expected to gain by just 1.6%, compared to 6.2% last quarter. The negative warnings are also higher than usual - with 108 negative revisions for S&P 500 companies. When compared to the 23 positive revisions, it is the worst pace in 12 years. [View news story]
Nothing matters as long as Fed pumps $85 Billion a month into the market. As a matter of fact bad earnings are good because bond will rally. Low Interest rate + $85 Billion POMO a month will push S&P over 1650 or higher.
Bank of America (BAC) has won federal judge's approval for a $2.43B settlement with investors who said the lender hid crucial information when it bought Merrill Lynch in a $50B all-stock deal in September 2008. The settlement, which is among the largest stemming from the global financial crisis, culminated from what the judge referred to as "extraordinarily hard-fought litigation." [View news story]
Yeap, they have the crook judge in their back pocket.
As the markets churn ever higher, the potential for a "Black Swan" type event becomes a worrisome proposition, says CNBC's John Carney. He cites three possible catalysts: The first is too much risk. It took down the market in 2008, and could do so again. Next , rising household debt and a second housing bubble. Lastly, a faltering economy. The market's rebound has been predicated on unconventional stimulus policies from the Fed and faith in an economy that is progressing on the road to recovery. But anemic Q2 growth and weakening job numbers could easily derail that thesis, and with it the entire gravy train. [View news story]
If it wasn't for Fed $85 Billion a month S&P would still be at 900. If things are so good why do we need a 0% and $85 Billion POMO?
Market recap: Stocks recovered some of their earlier losses after Eurogroup's Jeroen Dijsselbloem backtracked on comments that the Cyprus bailout is a template for eurozone bank rescues. In Europe, shares of banks were hit hard; U.S. bank stocks held up relatively better. Meanwhile, NY Fed's Dudley said the Fed must remain very accommodative since the labor market remains "far from healthy." [View news story]
"NY Fed's Dudley said the Fed must remain very accommodative" Means we will do our best to rig the market. Few small dips don't matter it will go higher.
Australia faces a "massive hit to government revenues" that "will inevitably continue to impact beyond the current year," says Treasurer Wayne Swan. The deficit increased a further A$4.6B ($4.8B) in the first four weeks of 2013 - above Swan's February estimate of A$2B - taking the total shortfall for the first seven months of the fiscal year to A$26.8B. [View news story]
"When high school dropouts earn $100k+ as miners" That's nothing here in U.S. with a high school diploma you can get jobs in high tech making $100K. No experience needed. How about that?
Casino stocks trade higher today with news on revenue from Macau looking good, but progress on an online poker bill in the U.S. looking even more promising. Analysts think the race between Nevada and New Jersey to see online poker within their state borders a reality increases the odds of a federal online bill getting pushed through Congress after previous attempts faltered. Advancers: Boyd Gaming +3.3%, Las Vegas Sands +2.6%, MGM Resorts +1.6%, Wynn Resorts (WYNN) +1.1%, Pinnacle +3.2%, Caesars Entertainment (CZR) +1.6%. [View news story]
If you've been on the sidelines during the market's recent run, don't worry, there's more upside to come, says Goldman's Abbie Joseph Cohen. This rally's real, and the fundamentals are there to support it Cohen says. She pegs fair value for the S&P 500 at 1,575 — a 4% premium to yesterday's close. "There are other models, including the Fed model, that show fair value as high as 1,700 or 1,750." [View news story]
Goldman at its best wants you in to fleece you. BTW, whatever happened to SEC investigating Heinz insider trade?
Bernanke: "I don't see much evidence of an equity bubble," he says. "Earnings are high." The remark reminds of Greenspan's Congressional testimony at the market top in 2000. He told lawmakers the high stock prices of that day made perfect sense given analysts' earnings estimates. [View news story]
U.S. jobs could return to pre-recession levels by 2014, according to some economists. The latest Wall Street Journal survey of economists, forecasters said they expect employers to add just under 180K jobs a month over the next 12 months, about the same pace as the past two years, but that should pick up as the economy continues to gather steam. For the full year, economists expect 2.4% growth - which is better than the past two years. [View news story]
What global slowdown? Chinese April exports rose 14.7% Y/Y vs. 8.6% expected. Imports gained 16.8% vs. 11.6% expected. The trade surplus clocked in at $18.16B. Bloomberg's Adam Johnson: "Imports AND exports better than forecast; 18 hours ago German factory orders better and U.S. job postings up ... Connect the dots." Shanghai (FXI, CAF) +0.7%, Hong Kong (EWH) +0.8%. [View news story]
Calling recent stock market action a "buying stampede" unlike anything he's seen in more than 50 years of watching markets, Jeff Saut says the investors he talks to believe the rally is "artificially induced" and is set up for a crash. The big picture: QE remains, profits have risen along with stocks, the Advance/decline line has broken out to new highs - "there is nothing in the 'tea leaves' suggesting a repeat of double-digit declines" seen in the past 3 springs. [View news story]
"I'm very confident about the medium- and longer-term prospects of the Cypriot economy," says Harris Georgiades, Cyprus' new finance minister, who adds that the country has "some traditional industries, tourism and shipping amongst them." Despite downbeat commentary from the likes of Pimco's Mohamed El-Erian and harsh words from Mario Draghi regarding the country's gold sales, Georgiades says Cyprus "will remain a member of the eurozone. "That is our destiny," he says. [View news story]
It's "death bells" for commodities, says Citigroup, calling 2013 the year in which it's realized the commodity supercycle is over and a new era in which the relative performance of how "stuff" performs against each other and other assets is what matters. Specifically on oil, Citi calls Q1's move higher without merit and expects the recent downtick in prices to continue. [View news story]
"I am amazed every day at this rally," says Jim Cramer. "It's very unusual to have the cyclicals, the techs, the financials and the drugs all move at once. It's reminiscent of other times where we saw a radical revaluation in the market." While others may see it as signs of another bubble developing, Cramer sees little evidence. "The S&P is only at 15 times earnings," he notes, and the bond market continues to be a place where you can't get any return. This rally Cramer says, is for real. [View news story]
"I am amazed every day at this rally," says Jim Cramer. "It's very unusual to have the cyclicals, the techs, the financials and the drugs all move at once. It's reminiscent of other times where we saw a radical revaluation in the market." While others may see it as signs of another bubble developing, Cramer sees little evidence. "The S&P is only at 15 times earnings," he notes, and the bond market continues to be a place where you can't get any return. This rally Cramer says, is for real. [View news story]
As Q1 earnings season kicks off, the overall tone is more bearish than usual and negative company warnings have outpaced positive revisions nearly five-to-one. Earnings growth is expected to gain by just 1.6%, compared to 6.2% last quarter. The negative warnings are also higher than usual - with 108 negative revisions for S&P 500 companies. When compared to the 23 positive revisions, it is the worst pace in 12 years. [View news story]
As a matter of fact bad earnings are good because bond will rally. Low Interest rate + $85 Billion POMO a month will push S&P over 1650 or higher.
Bank of America (BAC) has won federal judge's approval for a $2.43B settlement with investors who said the lender hid crucial information when it bought Merrill Lynch in a $50B all-stock deal in September 2008. The settlement, which is among the largest stemming from the global financial crisis, culminated from what the judge referred to as "extraordinarily hard-fought litigation." [View news story]
As the markets churn ever higher, the potential for a "Black Swan" type event becomes a worrisome proposition, says CNBC's John Carney. He cites three possible catalysts: The first is too much risk. It took down the market in 2008, and could do so again. Next , rising household debt and a second housing bubble. Lastly, a faltering economy. The market's rebound has been predicated on unconventional stimulus policies from the Fed and faith in an economy that is progressing on the road to recovery. But anemic Q2 growth and weakening job numbers could easily derail that thesis, and with it the entire gravy train. [View news story]
Market recap: Stocks recovered some of their earlier losses after Eurogroup's Jeroen Dijsselbloem backtracked on comments that the Cyprus bailout is a template for eurozone bank rescues. In Europe, shares of banks were hit hard; U.S. bank stocks held up relatively better. Meanwhile, NY Fed's Dudley said the Fed must remain very accommodative since the labor market remains "far from healthy." [View news story]
Means we will do our best to rig the market. Few small dips don't matter it will go higher.
Australia faces a "massive hit to government revenues" that "will inevitably continue to impact beyond the current year," says Treasurer Wayne Swan. The deficit increased a further A$4.6B ($4.8B) in the first four weeks of 2013 - above Swan's February estimate of A$2B - taking the total shortfall for the first seven months of the fiscal year to A$26.8B. [View news story]
That's nothing here in U.S. with a high school diploma you can get jobs in high tech making $100K. No experience needed.
How about that?
Casino stocks trade higher today with news on revenue from Macau looking good, but progress on an online poker bill in the U.S. looking even more promising. Analysts think the race between Nevada and New Jersey to see online poker within their state borders a reality increases the odds of a federal online bill getting pushed through Congress after previous attempts faltered. Advancers: Boyd Gaming +3.3%, Las Vegas Sands +2.6%, MGM Resorts +1.6%, Wynn Resorts (WYNN) +1.1%, Pinnacle +3.2%, Caesars Entertainment (CZR) +1.6%. [View news story]
If you've been on the sidelines during the market's recent run, don't worry, there's more upside to come, says Goldman's Abbie Joseph Cohen. This rally's real, and the fundamentals are there to support it Cohen says. She pegs fair value for the S&P 500 at 1,575 — a 4% premium to yesterday's close. "There are other models, including the Fed model, that show fair value as high as 1,700 or 1,750." [View news story]
BTW, whatever happened to SEC investigating Heinz insider trade?
Bernanke: "I don't see much evidence of an equity bubble," he says. "Earnings are high." The remark reminds of Greenspan's Congressional testimony at the market top in 2000. He told lawmakers the high stock prices of that day made perfect sense given analysts' earnings estimates. [View news story]