Christmas may have come early this year, as the market surged forward on great numbers from the retail sector following the Black Friday extravaganza and the coordinated actions of the world’s central banks to relieve the European credit crunch. The week’s events propelled the S&P 500 to a 7% gain, while the German DAX was .. read more
ISM new orders are turning higher in what is very good news for the manufacturing sector. The new orders index for November is up a very strong 4.3 points to 56.7, above 50 to indicate monthly growth and well above October. This index had been stuck at slightly sub-50 levels in prior months which now .. read more
Markets around the world are in full rally mode today after the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve and the Swiss National Bank announced coordinated actions to enhance their capacity to provide liquidity support to the global financial system. The purpose of these actions is to .. read more
On October 20th, I wrote: Caveat Emptor Click here to read the brief post. Groupon shares are now over 50% below their high. Considering the market is 2-3% higher today, it doesn’t bode well. Actually, very few of this year’s IPOs are doing well. Dunkin’ Brands (DNKN) is down about 11% YTD.
Just a couple of weeks ago, the S&P 500 broke out of its summer trading range and even broke above its 200-day moving average, which is indicative of a market that is turning the corner from a long-term downtrend to a long-term uptrend. The breakout didn’t last long, however, and now the S&P 500 is .. read more
According to Bloomberg (chart below), German 10-Yr yields have doubled overnight. Bid to cover ratio was an extremely low 35%. Some unconfirmed reports indicate it’s the worst auction in Germany’s history since the start of the Euro. An ominous sign for Europe’s safe-haven asset. That news coupled with weakness in China’s factory output has resulted in .. read more
Today’s market action was a bit disheartening given that we are unable to get a bounce after yesterday’s rout. However, two names in our Global Opportunities Portfolio worth mentioning today are Apple (+2%) and Biogen (+5%). Biogen is a global biotechnology company focused on discovering, developing, manufacturing and marketing products for the treatment of neurological disorders and .. read more
Using a German word, katastrophe, seems fitting at this time. Despite improving economic data points and earnings in the U.S., we are still at the mercy of the European debt crisis. Last week, I admit, I became enthusiastic by looking at market breadth indicators. The S&P 500 had its worst week in two months this week with .. read more