Silver as an investment

Category Archives: Philly Fed

Stocks Hit New Record Highs, Dollar Jumps On Senate Vote; Japan Has Longest Winning Streak In History

Global stocks hit new all time highs overnight, with US stock-index futures, Asian and European stocks all rising overnight after the Senate adopted a fiscal 2018 budget resolution, paving the way for Trump’s $1.5 trillion in tax cuts, while news that “dove” Jay Powell may be the next Fed chair added to the risk-on sentiment. […]

July Payrolls Preview: Smooth Sailing But Watch Out For Cars

At 8:30am on Friday, the BLS is expected to announce that in July the US created 180K jobs, down from 222K in June though still in line with the 6-month average of 180K, with the biggest downside risk a slowdown in durable manufacturing payrolls as auto production slumped. Sellside expectations: UBS: 175K Barclays: 175K HSBC: […]

Philly Fed Slumps From 33-Year Highs To November Lows As New Orders Plunge

Another day, another ‘soft’ data point disappointments and heads towards it ‘hard’ data reality. This time is the turn of the Philly Fed survey, which missed expectations and dropped to 19.5 – its lowest since Nov 2016. Remember Philly Fed hit a 33 year high in February – what does it say about these surveys […]

June Payrolls Preview: With The Fed On Autopilot, You Can Skip This One

After a poor March jobs report, followed by an April scorcher, then another debacle in May, the June payrolls report due at 8:30am will be… very much irrelevant, because as Citi pointed out earlier, the Fed is now data-independent and will keep hiking until financial conditions finally tighten (read: stocks drop). In other words, with […]

Global Stocks Slide On Trump Probe Report, Fed Indigestion

Is it going to be another May 17, when US stocks tumbled as concerns of a Trump impeachment over obstruction of justice and impeachment surged ahead of Comey’s tetimony? Overnight, S&P500 futures accelerated their decline following yesterday’s WaPo report that Special Counsel Mueller has launched a probe into potential obstruction of justice by Trump… … […]

Key Events In The Coming Week: Thursday Turmoil Trifecta

This week will be all about rhe “Thursday Turmoil Trifecta” when the UK general election will be highlight of a busy week together with the ECB monetary policy meeting, while rounding off events in the US will be James Comey’s first public testimony since he was fired by Donald Trump in which he is expected […]

May Payrolls Preview: The Tiebreaker

After a poor March jobs report, followed by an April scorcher, the May payrolls report due at 8:30am on Friday will be the tiebreaker, not only for the current state of the economy where both soft and hard data have been deteriorating in recent weeks, but perhaps also for the June rate hike decision, which […]

Selloff Accelerates As Trump Fears Mount: “The Market Will Revert To Much Higher Volatility”

European and Asian stocks slumped on Thursday following the worst one-day drop in US stocks in 8 months, while S&P futures tumbled to session lows, down 0.3% to 2,350 after initially posting a modest rebound, following a new Reuters report alleging that Trump campaign members communication with Russians on at least 18 occasions, and which […]

Euro Surges As Trump Fears Slam Dollar; Futures Poised For New Records

In a replica of Monday’s early trading, European shares are down, this time led by health-care stocks even as the Euro surges above 1.1050, the highest level since the US election. Asian equities rose, while S&P futures were unchanged although we expect the ramp to kick in any second, and take the NASDAQ to another […]

Oil Surges After Saudis, Russians Agree To 9 Month OPEC Output Cut Extension; US Futures Flat

In an otherwise quiet session in which European shares dropped, Asian equities rose and S&P500 futures were little changed, crude oil surged above $49 on high volume, after the Saudi and Russian energy ministers said in Beijing they favor extending the OPEC production cut for 9 months, though the end of Q1 2018. WTI rose […]