It was a pretty good day on Wall Street after a couple of downbeat days to end the previous week’s trade. All three major averages finished higher on the day as the Turkish lira rebounded from its recent lows and looks to stabilize further on Wednesday. Even as the S&P 500 has edged within 1%…
And when the markets head lower, the rhetoric surrounding Turkey’s debt and lira exacerbate. That pretty much sums up yesterday’s global equity market trading and media focus with most markets sharply lower, including U.S. indices. The reality surrounding Turkey’s current debt and currency woes is nothing new and seen many a time before. The debt…
Currency devaluation, purposeful or not, causes panic around the world. We’ve seen such concerns regarding the devaluation of the Chinese yuan in recent months. Such devaluation causes imbalances in trade and hyperinflation possibilities, otherwise making it more difficult for the correlated debt of the currency to be repaid. Therefore, contagion concerns spread from the currency…
In our daily market dispatch Thursday, we discussed the bear vs. bull debate with a focus on the bear case delivered by Morgan Stanley. The firm’s chief market strategist has outlined its bearish case for a rolling bear market and offered the $1trn market cap achievement by Apple Inc. (AAPL) as highlighting the possible end…
After all the hullabaloo on Wall Street Tuesday, the major indices were extremely flat and proved an uneventful trade on Wednesday. The Dow fell slightly with the tech-heavy Nasdaq up a tick. The S&P 500 fell less than a full point as the broadest market index found investors wondering whether or not Tesla (TSLA) is…
The trading day was going swimmingly and seemingly without any headlines of significance until around 1:00 p.m. EST on Wall Street. It was around this time that Tesla’s CEO, Elon Musk, tweeted out the possibility of taking the company private at $420 per share or at a $72bn market cap. The tweet also outlined that…
Over the weekend, Finom Group’s weekly research report focused some attention on the strength of corporate buybacks. In the report titled “Markets Look Poised For Gains, but Mid-Term Turbulence Looms Large”, we discussed how outsized corporate buybacks are during the month of August and as displayed in the following chart. Corporate buybacks are set to…
Last week, the finale of FANG reports was delivered by Apple Inc. (AAPL) and served to deliver the first $1trn market cap for investors and Wall Street. Some have even characterized the feat of magnificence as “market saving”. With some investor angst alleviated by Apple’s Q3 2018 earnings report, the broader market was pushed higher…
It looked as if it was going to be a dreadful day on Wall Street in the early morning on Thursday with the major averages pointing to a steep decline at the market’s open. Within the first hour of trading, however, all 3 major averages bottomed and made a sharp U-turn heading higher through the…
It appears to be another rocky open on Wall Street with all 3 major indices set to open sharply lower. In Wednesday’s trading session, the Dow and S&P 500 both fell with the Nasdaq outperforming, as the tech-heavy index found favor among investors on the heels of Apple’s (AAPL) better than expected quarterly results. That…
