U.S. corporate profits adjusted for inventory and depreciation in 3Q16 grew the most quarter-over-quarter since 2Q14. They rose 6.6 percent to a seasonally adjusted annual rate of $2.15 trillion, breaking five consecutive quarters of year-over-year decline (Chart 4). Profits peaked … Continued
While there are some signs of near-term capitulation in equities – further raising odds of continuation of rally post-Wednesday reversal – it is perhaps also time to ruminate over why markets started the year all jittery and restless. From intra-day … 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
The release of February’s commercial and industrial loan data ensued a lot of excitement. ‘Finally!’ was the typical reaction. The $36bn increase (to $1.67tn) was the largest month-over-month rise since October 2008. March data just came out, and we learn … Continued