QQQ made an all-time high last week, but failed at channel resistance. With the 2Q earnings season winding down, shorts may have better odds. QQQ (Invesco QQQ Trust) hit a new all-time high of $182.93 last Wednesday. It has had … Continued
The Nasdaq 100 index/QQQ could be potentially forming the right side of a bearish head-and-shoulders pattern. This week’s action could provide further clues. The US economy is one month short of completing nine years of expansion. The recovery has been … Continued
The Tax Cuts and Jobs Act of 2017 – signed into law on December 22 last year – allows U.S. companies to repatriate the cash they have socked away overseas by paying 15.5 percent, rather than the previous 35 percent. … Continued
The tech-heavy Nasdaq 100 index is doing very well so far this year – up 22.4 percent. This compares with a rise of 10.3 percent for the Dow Industrials, 10.1 percent for the S&P 500 large cap index, and a … Continued
U.S. corporate profits adjusted for inventory valuation and capital consumption grew 1.3 percent quarter-over-quarter in 2Q17 to a seasonally adjusted annual rate of $2.14 trillion, but growth has been uneven since peaking at $2.23 trillion in 4Q14. Since that peak … Continued
U.S. tech stocks have come to life. The Nasdaq composite (5213.14) is within spitting distance of its all-time high 5231.94 of July last year. On a weekly closing basis, last week was a new record. The Nasdaq 100 index (4784.74) … Continued
July turned out to be an important month for the S&P 500 large cap index. More than a year after it peaked in May last year, the index reached a new high, rising 3.6 percent for the month. The July … Continued
U.S. capex continues to let down. May’s revised figures for new orders for non-defense capital goods ex-aircraft – proxy for business capital expenditures – were published on Tuesday, and there was not much change in the trend. Orders fell 0.5 … Continued
U.S. corporate capital expenditures have been lackluster. That is an understatement. As a percent of real GDP in 3Q15, non-residential fixed investment comprised 12.8 percent. The post-Great Recession high of 12.9 percent was recorded in each of the three quarters … Continued
The energizer bunny marches on. The U.S. consumer, that is. In the third quarter, the U.S. economy grew an annualized 1.5 percent. This was the first estimate, so it probably gets revised up or down by the time we have … Continued