Global Macro Perspectives
Important U.S. earnings this week: Monday: CVS Caremark (CVS), Lincoln National (LNC), Principal Financial Group (PFG), Lorillard (LO), Hartford Financial Services Group (HIG), Loews (L) Tuesday: Cameron International (CAM), Cerner (CERN), Cognizant Technology Solutions (CTSH), Molson Coors Brewing (TAP), Biogen Idec (BIIB), Walt Disney (DIS), The Coca-Cola Company (KO), EOG Resources, Inc. (EOG) Wednesday: Omnicom […]
As I wrote yesterday: Can’t See The Forest For The Trees; the EU deficit and debt problems are far smaller than for the U.S., particular U.S. states, U.K. and Japan. Jean- Claude Trichet seems to agree. Bloomberg story: Trichet Struggles to Convince on Euro-Area Solidity. Still, Trichet said the “solidity” of the euro area “is […]
Working gas in storage fell 115 Bcf from the previous week. Natural gas is holding well through today sell of. Enigma to me why… Without few cold weeks the end of winter stockpiles could be higher than last year, which means another tough year for the natural gas markets. Chart 1. Natural Gas Futures Chart […]
The market looks like today is just an intro. The 1.085 level broken, and technicians say the next target is 1.035 (I don’t believe in that, but since a lot of investors looks at that…). Beside bad initial jobless claims (480.000 vs. 455.000 consensus and 470.000 consensus) the main theme is PIIGS (Portugal, Italy, Ireland, […]
Crude oil stocks rose 2.3 million barrels for week ending 29 January; Gasoline stocks increased for 2 million barrels; Distillate stocks fell 0.9 million barrels; Propane/propylene stocks decreased 3 million barrels; Other oils were down 1.9 million barrels; Total crude oil and petroleum stocks rose 0.8 million barrels. Refinery utilization fell to a post Lehman […]
The markets managed to find new strength to escape negative sentiment from the last week. It looks that the S&P 500 support was broken for just one afternoon and that could prove to fuel further short term gains. No major economic data today, so just a short look at yesterdays. The big news was ISM […]
The index was reported at 57.4, up from 56.1 in the previous month. Hongbin Qu, Chief Economist for China at HSBC said: Industrial activity continues to accelerate, implying stronger GDP growth in 1Q. But rising input and output prices also point to greater inflationary pressure, which will likely prompt more tightening measures in the coming […]
Equities We have seen a meaningful correction in equities in recent couple of weeks, we have a market that fails to react to presumably good news, we have low levels of cash in equity mutual funds and still high number of bulls; high beta stocks suffered massively; For me this is a setup for reversal, […]
Important U.S. earnings this week: Monday: Anadarko Petroleum (APC), Sysco (SYY), Kraft Foods (KFT), Exxon Mobil (XOM) Tuesday: AFLAC (AFL), United Parcel Service (UPS), Entergy (ETR), News Corp (NWS-A), Archer Daniels Midland (ADM), Marathon Oil Corporation (MRO), Automatic Data Processing (ADP), Dow Chemical Company (DOW), Emerson Electric (EMR), MetLife (MET) Wednesday: Comcast (CMCSA), Yum! Brands […]