The 5% Diet
“The whole story is interest rate worries.” – Stephen Carl, head trader Williams Capital (subscription required) “A lot of people are trying to come to grips with the idea that the Fed is just as likely at a future meeting,…
Bed, Bath & Beyond Cuts First Quarter Outlook; Federal Trade Commission Seeks To Block Whole Foods/Wild Oats Market Merger
In other news from today, home furnishings retailer Bed, Bath & Beyond (BBBY), an $11 billion, S&P 500 company lowered its outlook for its 1st quarter ended Saturday June 2. It expects to earn between 36 and 38 cents per…
Did Anybody Actually Read Bernanke’s Speech?
The big event for today turned out to be a speech given by Fed Chairman Ben Bernanke to the International Monetary Congress in Cape Town, South Africa via satellite before the market open this morning. This speech somehow reaffirmed the…
China Sell-Off IV Is A Yawn For US Markets
On the heels of last Wednesday’s 282 point, 6.5%, sell-off in China there was another selloff in China last night (Monday June 4). The Shanghai Index was down 330 points, or 8.26% – comparable the 269 point, 8.85%, sellof heard…
Market Holds Record Levels on Positive Economic Reports; Bullish Sentiment Returns; 10 Year Treasury Yields Approach 5%
Lot’s of good economic news, or economic news that has been interpreted as good, the last couple of days. Yesterday (Thu) before the open, The Commerce Department reported that preliminary estimates for 1Q 2007 GDP had been revised down to…
No Taxation Without Representation! – Chinese Investors Rebel Against Increase in the Stamp Tax
Ever since the huge selloff in China on Tuesday February 27 which sent stock markets around the world crashing down, investors everywhere have been watching the Chinese stock market. There was a second selloff on Thursday April 19 (subscription required) as…
Back to Obsessing About the Fed; Range Trading on the 10 Year Treasury; Market Out Of Gas For Now
You know Wall Street couldn’t go more than a few weeks without obsessing about the Fed and if there is going to be a rate cut this year or not. I swear to God…… The immediate cause is today’s April…
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…
Dreams Of A Rate Cut???? – Flat Core PPI Fuels Rally
“On the inflation front, the trend appears to be down, instead of holding steady, for the first time. We can live with the economic weakness [implied by the retail sales numbers] if we’re getting inflation under control.” – Marc Pado,…
Today’s Retail Numbers Don’t Mean Anything
“When the market is on a roll like this, it ultimately looks for excuses for profit taking, and retail sales provided that.” – Tony Dwyer, equity strategist FTN Midwest Research (subscription required) About an hour ago Barry Ritholtz at The…