This just in. Precious metals (GLD +2.2%), (SLV +2.6%) are sharply higher on the session after a panicky Sunday evening plunge brought both to multi-year lows. Other than dollar weakness (UUP -0.5%) across the board, there's no news in particular - perhaps some satiated bears decided to cover and a trend took hold. [View news story]
There is no precedent for the current market, writes The Fat Pitch. Consider: 1) The S&P (SPY) has been up 56 of 88 trading sessions this year 2) It's up an uncorrected 24% since the post-election low - the longest streak in over 3 decades 3) The Nasdaq (QQQ) is on pace for a 7th straight up month, an occurrence with a 3-in-100 probability. Long term it's bullish, writes Ukarlewitz, as this sort of strength is rarely the end of a trend. Short term? Stay nimble. [View news story]
investingInvesto
I am guessing you missed the rally and were caught sitting in PM's.....
Market recap: Stocks finished near session highs, and the S&P tallied a fifth straight record close, as profit outlooks from companies including Electronic Arts helped boost sentiment. Industrial metals moved higher after China's better-than-expected trade surplus, which saw strong improvement in imports and exports. Treasurys rose despite a tepid auction; gold climbed 1.7%. [View news story]
The bounce in precious metals continues, gold (GLD) +1.6% and silver (SLV) +2.1% as buyers of the physical apparently used the rout to load up and - if anything - global central banks are leaning towards even easier monetary policy. A survey shows low bond yields are no longer doing it for central bankers and they're now looking at loading their balance sheets with equities. [View news story]
I've seen a dead cat bounce more than this. Common, of course there was going to be a slight up tick. Worst sell off is 30 years.
Apple (AAPL): FQ2 EPS of $10.09 beats by $0.02. Revenue of $43.6B (+11% Y/Y) beats by $1.1B. 37.4M iPhones, 19.5M iPads, just under 4M Macs. Expects FQ3 revenue of $33.5B-$35.5B, below $39.3B consensus. Buyback increased by $50B. Shares halted. CC at 5PM ET (webcast). (PR) [View news story]
So much for all that cash sitting on the sideline.....
Dollar strength against the "risk" currencies on these panicky sessions is often offset by weakness vs. the yen, leading to little change in the dollar index. Not today - the greenback is surging against nearly every asset on the planet, leading the dollar bull ETF (UUP +1.1) to a relatively outsized gain. UDN -1.1%. [View news story]
But what about all those people who were yelling about the dollar being worthless? Where did they go?
Apple (AAPL -5.8%) has hit levels last seen in Dec. '11 following Cirrus Logic's warning and a Digitimes report about declining iPad Mini shipments. Cross Research calls Cirrus' warning "a reminder of weakening demand, and the challenges around product transitions" for Apple. Tero Kuittinen, noting sub-30M June quarter iPhone sales estimates and worries about the margin impact of emerging markets promotions, thinks "several nightmare scenarios have been priced in." "The naked fear of former Apple bulls is exactly what we need just before the earnings come out." [View news story]
Worthless as in an investment right now. My post below clarifies.
Fundamentals are solid, extremely solid. She is just out of favor.
Remember too though, most of their cash is overseas......
Apple (AAPL -5.8%) has hit levels last seen in Dec. '11 following Cirrus Logic's warning and a Digitimes report about declining iPad Mini shipments. Cross Research calls Cirrus' warning "a reminder of weakening demand, and the challenges around product transitions" for Apple. Tero Kuittinen, noting sub-30M June quarter iPhone sales estimates and worries about the margin impact of emerging markets promotions, thinks "several nightmare scenarios have been priced in." "The naked fear of former Apple bulls is exactly what we need just before the earnings come out." [View news story]
Fundamentals are solid, extremely solid. She is just out of favor.
This just in. Precious metals (GLD +2.2%), (SLV +2.6%) are sharply higher on the session after a panicky Sunday evening plunge brought both to multi-year lows. Other than dollar weakness (UUP -0.5%) across the board, there's no news in particular - perhaps some satiated bears decided to cover and a trend took hold. [View news story]
There is no precedent for the current market, writes The Fat Pitch. Consider: 1) The S&P (SPY) has been up 56 of 88 trading sessions this year 2) It's up an uncorrected 24% since the post-election low - the longest streak in over 3 decades 3) The Nasdaq (QQQ) is on pace for a 7th straight up month, an occurrence with a 3-in-100 probability. Long term it's bullish, writes Ukarlewitz, as this sort of strength is rarely the end of a trend. Short term? Stay nimble. [View news story]
I am guessing you missed the rally and were caught sitting in PM's.....
Market recap: Stocks finished near session highs, and the S&P tallied a fifth straight record close, as profit outlooks from companies including Electronic Arts helped boost sentiment. Industrial metals moved higher after China's better-than-expected trade surplus, which saw strong improvement in imports and exports. Treasurys rose despite a tepid auction; gold climbed 1.7%. [View news story]
Bank Loan, Floating Rate ETFs For Rising Interest Rates [View article]
Gold Vs. Coca-Cola [View article]
Gold Vs. Coca-Cola [View article]
I apologize, I misspoke. Gold has beat the CPI about 54% of the time since 71'. The data I was referencing did not state the correlation coefficient.
Gold Vs. Coca-Cola [View article]
So yes, there is a SLIGHT positive correlation. S & P has done much better though.
Gold Vs. Coca-Cola [View article]
May Reuters/UofM Consumer Sentiment: 83.7 vs. 78.0 expected and 76.4 prior. [View news story]
Starbucks (SBUX): FQ2 EPS of $0.48 in-line. Revenue of $3.56B (+12% Y/Y) misses by $2M. Shares -1.1% AH. (PR) [View news story]
The bounce in precious metals continues, gold (GLD) +1.6% and silver (SLV) +2.1% as buyers of the physical apparently used the rout to load up and - if anything - global central banks are leaning towards even easier monetary policy. A survey shows low bond yields are no longer doing it for central bankers and they're now looking at loading their balance sheets with equities. [View news story]
Apple (AAPL): FQ2 EPS of $10.09 beats by $0.02. Revenue of $43.6B (+11% Y/Y) beats by $1.1B. 37.4M iPhones, 19.5M iPads, just under 4M Macs. Expects FQ3 revenue of $33.5B-$35.5B, below $39.3B consensus. Buyback increased by $50B. Shares halted. CC at 5PM ET (webcast). (PR) [View news story]
Dollar strength against the "risk" currencies on these panicky sessions is often offset by weakness vs. the yen, leading to little change in the dollar index. Not today - the greenback is surging against nearly every asset on the planet, leading the dollar bull ETF (UUP +1.1) to a relatively outsized gain. UDN -1.1%. [View news story]
Apple (AAPL -5.8%) has hit levels last seen in Dec. '11 following Cirrus Logic's warning and a Digitimes report about declining iPad Mini shipments. Cross Research calls Cirrus' warning "a reminder of weakening demand, and the challenges around product transitions" for Apple. Tero Kuittinen, noting sub-30M June quarter iPhone sales estimates and worries about the margin impact of emerging markets promotions, thinks "several nightmare scenarios have been priced in." "The naked fear of former Apple bulls is exactly what we need just before the earnings come out." [View news story]
Fundamentals are solid, extremely solid. She is just out of favor.
Remember too though, most of their cash is overseas......
Apple (AAPL -5.8%) has hit levels last seen in Dec. '11 following Cirrus Logic's warning and a Digitimes report about declining iPad Mini shipments. Cross Research calls Cirrus' warning "a reminder of weakening demand, and the challenges around product transitions" for Apple. Tero Kuittinen, noting sub-30M June quarter iPhone sales estimates and worries about the margin impact of emerging markets promotions, thinks "several nightmare scenarios have been priced in." "The naked fear of former Apple bulls is exactly what we need just before the earnings come out." [View news story]