In Q3 2017, J.C. Penney managed to grow comp sales by 1.7%; this after warning investors that sales would only come in at up .7% due to certain apparel liquidations in the Q3 2017 period. So what actions did the company embark upon to find comp sales growth in both the Q3 and Q4 2017…
It’s a rather basic chart, but technically speaking, SPY has been quite resilient despite the market gyrations. The 50 day moving average is right at present levels of SPY 272 with the 200 day moving average at 256. Since the February market sell-off and correction, the rips to the upside have failed to achieve SPY…
Equity futures in the U.S. are lower across the board by greater than 1% in the early morning hours and in the wake of President Trump’s top economic advisor, Gary Cohn, resigning yesterday evening. The news concerning Cohn’s resignation wasn’t a surprise more so than the timing, which points toward disagreements between President Trump and…
After the Dow Jones Industrial average shed some 3.3% last week, it kicked off the new trading week with a bang yesterday, gaining 336 points. It seemed as if some of the trade tariff fears subsided throughout the trading session and even as bond yields began to rise once again. House Speaker Ryan warned about the…
This week is likely to prove an important week as equity markets have gyrated back and forth throughout February and through the first couple of trading days in March. Stability in equity markets is needed to recapture investor confidence and without said stability a retesting of the February lows is a probable consequence. Some of the…
On February 27, 2018, Macy’s reported its Q4 2017 and FY17 results. With some retailers and especially Macy’s, following the numbers for the 4th quarter can be cumbersome, as they had offered holiday sales guidance updates previously. On January 4, 2018, Macy’s offered its November and December 2017 sales in a press release as follows:…
If it’s not inflationary and rising rate concerns there is now the threat of retaliatory fears from the latest news centering on the U.S. potential trade tariffs on steel and aluminum. Even as inflation ticked up, as measured by the PCE data released yesterday, the U.S. 10yr. Treasury took a leg lower. Fed Chair Jerome…
From David Lincoln’s Blog; On February 27th, Proshares announced that the leverage of its SVXY inverse volatility fund would be reduced from -1X to -.05X and that the leverage of UVXY would be reduced from 2x to 1.5x. Although not easily quantifiable, it was undeniable that this would cause a reduction in options premium. If…
It was a turbulent time for equities and the S&P 500, which lost nearly 4% during the month of February. Rounding out the month yesterday, the S&P 500 finished lower by roughly 1.1% and with all three major indexes finished lower on the day. The Dow was the biggest loser, closing down by 1.50 percent.…
Well…Fed Chairman Jerome Powell held his first testimony on Capital Hill yesterday and it didn’t take market participants long to key in on the possibility of the Fed raising rates more than the anticipated 3 times in 2018. Prior to his testimony, prepared remarks were publicly released. The most balanced of the remarks was as…
