Thoughts And Links
As we work through a pretty slow day as investors try to get their bearings after yesterdays huge selloff, here are some things I’m looking at and thinking about: A lot of stocks are cheap. We aren’t dealing with the…
Gold Surges to $930; “Rocket Shot” to $1000?
“Expectations of further Fed cuts continue to support the precious metal, and traders feel bullion can break the $950 mark in coming weeks. Some even suggest that gold may jump as high as $1000 an ounce in a couple of…
Citi Consolidates SIVs On Balance Sheet, November CPI Higher Than Expected
After the close yesterday, Citigroup announced that it will provide a support facility for its Structured Investment Vehicles (SIVs), off balance sheet investment vehicles, which will result in its consolidating their assets and liabilities onto its own balance sheet (C…
Intel: Still Got It
After the close yesterday, one of the biggest, most important and still beloved tech stocks, Intel (INTC), king of the semiconductors, reported what can only be described as an excellent quarter (3Q Press Release). The most impressive number in my…
Okay, That’s Enough Rallying For Now
“The [consumer price index] is what spurred this rally. We lost a lot of the gains [to record highs] and now we’re getting them back.” – Jim Herrick (subscription required), Head Trader, Robert W. Baird So the Consumer Price Index (CPI)…
PPI Comes In As Expected and Market Rallies; CPI Tomorrow
“People were fearing disaster [in this morning’s Producer Price Index (PPI) report]. They got a report that wasn’t too far from the consensus, and it led to a rally.” – Brian Reynolds (subscription required), Chief Market Strategist, MS Howells May Core PPI…
Looks Like Another Good Week; Dow Continues to Lead – Mostly; Carry Trade Back In Full Force
It’s looking like another good week for the stock market. Here’s how the action looks through 4 days: Dow: +151, to 13,477 S&P: +7, to 1513 Nasdaq: -23, to 2539 Russell 2000: -14, to 816 Again, we are seeing the…
Are We In a Recession Right Now? – Real (Or Not So Real) GDP Grew at 1.3% in 1st Quarter
I did want to follow up on my post about preliminary 1st quarter 2007 Real GDP which the Commerce Department reported as 1.3% before the open last Friday. To answer my question, “Does The Economy Matter?”, the answer, at least…
Gold Approaches $700
Gold closed at $695.80 today according to Bloomberg. Peter Grandich, editor of the Grandich Letter, wrote (subscription required): A near perfect storm has aligned both technically and fundamentally for gold. A test of the 2006 highs around $735 is not a…
Stocks Trade Down on Inflation Worries
Before the open of the market yesterday (Wednesday) The Labor Department announced (subscription required) that core inflation (“core” excludes food and energy) increased .256% from December to January. Core prices were 2.7% higher compared with last January. The Fed’s desired…