Amidst Elevated Optimism, Caution Hat Out

posted in: Economy, Equities | 0

Peak optimism? We are increasingly beginning to hear commentators/observers use that phrase in media interviews, articles as well as on social media.  Among other things, Charts 1 and 2 are probably to blame. In the latest week, Investors Intelligence bulls … Continued

Nasdaq 100 In/Near Record Territory – Momentum Strong, Fundamentals Weak

posted in: Economy, Equities, Technicals | 0

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

Low Capacity Utilization Dissuades Businesses From Aggressive Capex Plans

posted in: Credit, Economy | 0

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. Inventory Remains Elevated, With Some Signs It Is Getting Worked Off

posted in: Economy | 0

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

U.S. Capex-Revival Hopes Keep Getting Dashed

posted in: Credit, Economy | 0

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

This Stock Rout Has Potential To Be More Than Plain-Vanilla Correction

Velocity of declines in equities breakneck and unsettling Worse scenario is if oversold bounce/rally gets sold hard near resistance If consumer/CEO confidence is impaired, Fed’s tool box empty to tackle weaker economy Another interesting session in the markets! Stocks picked … Continued