Yields for Italy, Spain, France, and Germany …
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Markets Take a Small Miss Step
A Long Term Technical View of the Markets
” At month end we like to look at the monthly chart to refresh our long-term view of the market.
The outstanding feature on the chart is the trading range between about 750 and 1550. Two bull markets have ended their run at the top of the range, and the current bull is only about 150 points below that long-term resistance.”
Comments »Market Update
Markets started off strong to the upside, but disappointing ISM data created an 80 point reversal in the DOW. Oil and gold managed to hold their gains, but are now succumbing to downside action.
[youtube://http://www.youtube.com/watch?v=JFZLq6R-ZtM 450 300]Comments »
Fortune: Another High-Tech Bubble Is Popping
“Listen closely and you can hear the sound of another high-tech bubble popping.
LivingSocial, an online coupon business, announced it is laying off about 400 employees, about 9 percent of its work force.
That shouldn’t be a surprise, according to Fortune. The hype and tons of investment that LivingSocial — and other online couponing outfits like Groupon — once drew never made sense in the first place.
The online couponers were once the darlings of the tech media world. Tech blogs gave Groupon a Crunchie award for the best social commerce app in 2010, and its CEO, Andrew Mason, was named the Crunchie CEO of the year.
Groupon’s fortunes quickly reverse. Mason was accused of violating the initial public offering (IPO) quiet period and approving improper accounting, Fortune reports, and some top executives quit. After skyrocketing, its stock dropped 80 percent.
Although its cash flow became positive for the first time, LivingSocial reported a $566 million loss last month and a $496 million charge on loss of value of acquisitions.
Early fans of online couponing companies failed to see the inherent flaws in the companies’ business models, according to Fortune. Consumers use the coupons get discounts — sometimes quite substantial ones — from local businesses, but rarely return to become loyal customers paying full price. And the barriers to entry are small. Anybody can jump into the business, and for a time it seemed like everyone did. ”
Comments »Consumers Light Up the Interwebs with Online Purchases
Black Friday and Cyber Monday have come and gone, but consumers are spending a boatload online surprising many analysts…
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FLASH: Dow Erases a 50 Point Gain to go Negative 10 On the Poor ISM Index Data
Gold & WTI still positive…
Comments »Most Markets Rally on China PMI Data, Dollar Weakens Sending Commodities Higher
“European stocks reached a 17-month high and commodities gained after Chinese manufacturing data added to signs of economic recovery. The dollar slid to a six- week low versus the euro as U.S. debt talks remained deadlocked.
The Stoxx Europe 600 Index (SPX) added 0.7 percent and futures on the S&P 500 Index rose 0.4 percent as of 7:19 a.m. in New York. The Standard & Poor’s GSCI Index of raw materials increased 0.3 percent, led by natural gas and wheat. The Dollar Index (DXY) sank to a one-month low while the euro reached $1.3049, the most since Oct. 23. The yield on the 10-year Greek bond fell below 15 percent for the first time since July 2011, while Turkey’s ISE National 100 Index (XU100) of stocks climbed to a record.”
Comments »Asia Pares Early Gains, Europe Rallies, and U.S. Futures Rise Above Fiscal Cliff Concerns
The World’s Best Performing Markets, Info-Interactive Graphic
The Nikkei Gaps Up and Trades Higher, S&P Futures Open Higher
Market Update
Markets have gone nowhere today prompting me to eat many samwiches (sic) and to take a siesta.
China Stocks Rise Paring Monthly Losses
“China’s stocks rose, paring the biggest monthly loss since July, after valuations fell to a record low. Developers rallied with building-material makers on optimism the government won’t add further property curbs.
A gauge tracking property stocks on the Shanghai Composite Index (SHCOMP) jumped 3 percent, the most in four weeks, following official comments on the country’s urbanization.China Vanke Co. (000002) and Poly Real Estate Group Co. gained more than 3 percent. Anhui Conch Cement Co., China’s biggest cement maker, jumped 4.9 percent. Sinolink Securities Co. fell 3.4 percent, extending yesterday’s slump, after the 21st Century Business Herald reported brokerages may cut commissions.
The Shanghai Composite Index rose 0.9 percent to close at 1,980.12, the first gain in five days. The measure lost 4.3 percent this month, the biggest drop since July. The CSI 300 Index (SHSZ300) added 1.1 percent to 2,139.66. The Hang Seng China Enterprises Index (HSCEI)advanced 1.6 percent. The Bloomberg China-US 55 Index (CH55BN) added 0.4 percent in New York yesterday.”
Comments »The Euro Rises With Commodities and Equities
“The euro strengthened to a five-week high against the dollar, metals rose and European stocks headed for the longest monthly rally since 2006. The yen weakened as Japan approved additional stimulus.
The euro appreciated 0.3 percent to $1.3007 at 7:20 a.m. in New York. The Stoxx Europe 600 Index (SXXP) increased 0.3 percent, poised for a sixth month of gains. Futures on the Standard & Poor’s 500 Index added 0.2 percent. Copper jumped to a one-month high and zinc increased 1.3 percent. The perceived risk of corporate default has fallen 30 percent in the past six months. The yield on Japan’s benchmark 10-year note fell 1 1/2 basis points to 0.695 percent, the lowest since June 2003.”
Comments »Global Markets Rally, U.S. Futures Look to Slightly Higher Ground
Market Update
U.S. equities continue yesterday’s hope rally over ongoing fiscal cliff discussions. Currently paring gains as Speaker Boehner comments on fiscal cliff talks.
John Boehner had some rosy comments that helped out global equities as investors felt comfortable speculating. He is currently speaking now talking a little tougher than yesterday. He is establishing his grounds and putting onerous on the White House. We will see how markets react to today’s comments.
DOW DOWN 17
S&P UNCH
NASDAQ UP 6
[youtube://http://www.youtube.com/watch?v=ZQ_JAgHxR14 450 300] Comments »Global Markets and Commodities Rally on Fiscal Cliff Budget Optimism
“Stocks climbed to a three-week high and commodities advanced on optimism U.S. lawmakers will reach an agreement in budget talks. Spanish and Italian 10-year yields fell as a measure of bank creditworthiness approached the highest level since July 2011.”
Comments »Global Markets Rally With Vigor, U.S. Futures are Up 0.50+%
Boehner Makes the Markets Randy
U.S. equities closed with a sharp reversal to the upside. The markets got hot and bothered over a Boehner….and his comments.
DOW UP 109
S&P UP 11
NASDAQ UP 23
GOLD down $23
WTI DOWN $0.53
The Fed Outlines More Banking Regulatory Framework
” Federal Reserve Governor Daniel Tarullo is speaking today at the Yale School of Management Leaders Forum in New Haven, Connecticut. His speech is covering future regulation of foreign banking organizations. Tarullo noted that regulators around the world still continue to implement reforms designed to limit the incidence and severity of future crises. The largest issue he is addressing is that the regulation of the U.S. operations of large foreign banks has yet to be reformed.”
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