Debt addiction is pervasive among consumers, corporations as well as the federal government. Several debt-related metrics are in uncharted territories. The craving is built into the system and can continue until markets rebel. In December, U.S. consumer credit grew 4.7 … Continued
The House pushed through a bill last Thursday aiming at getting rid of many of the Dodd-Frank reforms implemented post-Great Recession. The bill probably does not pass the Senate, but the very idea of less/lax regulations lit a fire under … Continued
Down 5.6 percent from intraday peak to trough in 19 sessions, and then up 4.1 percent from low to high in five. The Russell 2000 small cap index continues to play ping pong between range support and resistance. Last Friday, … Continued
U.S. equity indices are near all-time highs. One would logically think retail investors would be all in, that foreigners are actively taking part in the rally, and that traders are making use of margin debt as never before. None of … Continued
At the start of the year, real GDP in the U.S. was expected to grow at three percent or better this year. Actual numbers are falling short – substantially. In the first three quarters, growth has been on a sub-two-percent … Continued
The advance report on durable goods for September was reported this morning, and the disappointing trend continued. Orders for non-defense capital goods ex-aircraft – a proxy for business capital expenditures – were $68.6 billion, down 0.3 percent month-over-month and down … Continued
Stocks of major U.S. banks and brokers are behaving in a way that shorts are probably not very happy with. Should they treat this as a signal or noise? The top six have reported September-quarter results, and it is a … Continued
Around the August lows in U.S. equities, several sentiment indicators looked washed out. For instance, the bulls’ count in Investors Intelligence’s survey dropped to 24.7 percent in the September 29th week – the lowest since late December 2008 (although bears … Continued
Through Wednesday, three major U.S. banks have reported third-quarter results, and if there is one common theme, it is the top line. There is no growth. JPMorgan Chase (JPM) reported revenues of $23.5 billion, versus $25.1 billion last year. For … Continued
SMH, the Market Vectors Semiconductor ETF, does not act well. What might be the message for semis in particular and stocks in general? Before we try to draw an out-and-out negative conclusion from this, let us remember that between the … Continued