Earlier this week, banks underwriting the buyout of Allison Transmission, an auto parts supplier, were able to sell $1 billion of a planned $4.2 billion in debt to investors (subscription required). The debt was sold at 96 cents on the…
“The stats are very bullish.” – Tony Rosado (subscription required), IAG Energy Brokers Oil closed today at an all time high around $80 a barrel. Despite OPEC deciding to raise production by 500,000 barrels a day yesterday, oil still managed…
I just read a truly incredible story from Fast Company magazine about a 17 year old girl from Detroit who, without any help from her parents or connections, created a million dollar (and growing) website. The site is called Whateverlife.com and…
One of the most interesting articles I read this week was an observation by the ever insightful Mark Hulbert that we’ve had three 9 to 1 up days in the last 3 weeks: Friday Aug 17, Wednesday Aug 29 and…
For the first time since August 2003, nonfarm payrolls decreased on a month to month basis – down 4,000 from July to August. The numbers for June and July were also revised downward. I put very little stock in government…
Gold closed above $700/oz today (Thu 9/6) for the first time since May 2006. In fact, gold has been on a tear for the last month rallying from around $650 (1 year chart). As people anticipate a rate cut, which…
The market is bouncing around a lot, up big one day, down big the next, on not a lot of news. For example, last week it was down big on Tuesday, up big on Wednesday. It was up big yesterday…
The Core Personal Consumption Expenditure (PCE) Index came in 1.9% (pg. 12, Table 11) higher for July than it was 12 months ago. That is within the Fed’s comfort zone of 1-2% – for the third consecutive month. Combine that…
In a letter from Monday released this afternoon from Fed Chief Bernanke to Senator Charles Schumer Bernanke assured the Senator that the Fed was “closely monitoring developments in financial markets” and “is prepared to act as needed to mitigate the…
“Today’s rally is more or less a readjustment [after Tuesday’s selloff. There is] really no news.” – Barry Hyman (subscription required), Equity Market Strategist, EKN Financial We can’t seem to get a calm week on Wall Street, even when there’s not…