Short Squeeze in Gold Stalls at Trend Resistance
/in Investing/by Tom 2Gold futures have been very volatile to start the week thanks to multiple catalysts in the market. Futures initially fell yesterday as Swiss voters rejected a proposal to increase the central bank’s gold holdings. But then news broke that India, one of the world’s largest gold consumers, lifted trade restrictions on gold imports, causing futures to reverse […]
Global Flash PMI Analysis
/in Investing/by Tom 2Global November Flash Manufacturing PMIs Chinese PMI 50.0 vs. (E) 50.2. German PMI 50.0 vs. (E) 51.5. EMU PMI 51.3 vs. 50.9. US PMI: 54.7 vs. 56.5. Takeaway The biggest disappointment in the data was the German PMI, which very surprisingly plunged to 50.0. This was the biggest negative of all the reports, although the […]
Time to Buy XLE?
/in Investing/by Tom 2Time to Buy XLE? Fundamentally, the outlook for oil remains broadly the same: Waiting on OPEC. But, as we discussed earlier this week, most major energy companies are not aggressively shutting in aggregate production, as increases from profitable wells are offsetting shut-ins from high-cost wells. From a macro standpoint, pressure is mounting on OPEC, the […]
Housing Starts Data Better than Headline Suggests in October 2014
/in Investing/by Tom 2Housing Starts October Housing Starts were 1.009M (saar) vs. (E) 1.028M (saar). Takeaway The housing starts number was a miss on the headline but the details were actually good. As always with housing starts, the two key numbers are single family housing starts and single family building permits (which led starts by 3-6 months). Single […]
FOMC Minutes Analysis
/in Investing/by Tom 2FOMC Minutes The FOMC minutes didn’t contain many surprises, but on balance they did confirm that the FOMC is more committed to normalizing policy than the market thought before the October meeting. Yesterday I focused on the difference between market-based and sentiment-based inflation expectations, and so too did the Fed in its minutes. The takeaway […]
Tom Essaye Discusses the outlook for utilities on CNBC’s Closing Bell 11.14.14
/in Investing/by Tom 2Sevens Report Editor Tom Essaye discusses utilities on CNBC’s Closing Bell on Friday, November 14th 2014.
Jobs Day
/in Investing, Reports/by Tom EssayeWhat’s in Today’s Report: Jobs Day, Key VIX Levels to Watch.