EUR/USD The EUR/USD pair initially when higher during the session on Tuesday, but turned around at the 1.17 level to form a shooting star. I believe that part of this is driven by profit-taking ahead of the FOMC Statement and of course the interest rate decision, but I think that this could be a bit of a signal that the market is a bit worried that the Federal Reserve might be a bit more hawkish than originally thought. The 1.15 level below is massive support, so I don’t think will break down below there, unless of course the Federal Reserve not only raises rates but suggests that they are going to again in short order. If they do, the mark...
D.R. Horton, Inc. (DHI – Free Report) came up with yet another stellar show in the third quarter of fiscal 2017. Both earnings and revenues beat the Zacks Consensus Estimate courtesy of a solid housing market scenario. The Texas-based homebuilder’s order trends remained strong in the quarter. Earnings & Revenue Discussion The company reported earnings of 76 cents per share, beating the Zacks Consensus Estimate of 75 cents by a penny. Earnings also increased 15.2% year over year driven by higher home sales. Total revenue (homebuilding and financial services) of $3.78 billion beat the Zacks Consensus Estimate of $3.71 billion by ...
Yesterday’s rally didn’t quite seem there was a great deal of conviction behind it. Perhaps with the Fed set to release its FOMC Statement today, we’ll get the market to provide us with a decent size move. Over the past four trading sessions, the market has been rather quiet. But by decreasing my portfolio just a bit , it actually gives me some additional flexibility to add more positions to the portfolio on the confirmation that this market wants to keep trending higher should we get that today. Don’t get me wrong, the market hasn’t done anything to sound the alarms, but it has also made a decent size run so...
South-Korea based mobile e-commerce marketplace Ticket Monster has the distinction of being acquired by two Billion Dollar Unicorns LivingSocial and then Groupon, both of which spun it out. Today, Ticket Monster continues its journey as an independent Billion Dollar Unicorn in this highly competitive market. Ticket Monster’s Journey Ticket Monster (TMON) was founded in 2010 by Hyun-sung Dan Shin, Seong-yoon Chris Shin, Dong-hyeon Tom Kim, Kwon Gi-hyeon, and Lee Ji-ho with the idea of offering a coupon on one item in a day on its mobile-first e-commerce site. Each day, the site would feature an item called a Tmon, which includes services f...
The International Monetary Fund (IMF) has revised its China’s GDP growth forecast for 2017 and 2018 to 6.7% and 6.4% respectively. This is up from an upgrade made in April to 6.6% and 6.2%. China’s growth is expected to continue to be a key driver for a firming recovery of the global economy. Their World Economic report, which came a few days after China posted stronger than expected second quarter growth, was a reflection of a solid first quarter underpinned by previous policy easing and supply-side reforms. It expects banks to continue to lend to support activity so that authorities can meet a highly publicized target of doublin...
From 2011 to the start of this year, the US Dollar has been pretty strong, as it rallied nearly 30% in 6-years. Over the past 30-weeks, King Dollar has been rather weak. Below is a chart for the US Dollar over the past 18-years, with 30-week performance applied. CLICK ON CHART TO ENLARGE King Dollar has declined over 9% in the last 30-weeks at (1). As one can see, this sharp of a decline in 30-weeks hasn’t taken place a ton of times since the late 1990’s. The decline has the US Dollar testing the bottom of a 24-month trading range and two rising support lines at the same time at (2). This decline has bullish sentiment towards the US Dolla...
Blue chip stocks are generally associated with quality. They may not be the most exciting stocks to buy, but their strong business models and consistent dividends make them very rewarding to own over the long-term. For these purposes, the term ‘blue chip’ refers to stocks that have paid a dividend for at least 100 years, and also have at least a 3% dividend yield. International Business Machines (IBM) is on the list. While IBM is struggling through a difficult and prolonged turnaround, it continues to enjoy a strong reputation in its industry, and a highly profitable business model. If the company’s turnaround is successful, it could ge...
Ford (F) 2Q 2017 earnings and Boeing 2Q 2017 earnings were released before opening bell this morning. Ford reported adjusted earnings of 56 cents per share on $39.85 billion in revenue, compared to the consensus estimates of 43 cents per share and $37.3 billion. In last year’s second quarter, the automaker reported $39.5 billion in sales and 52 cents per share in adjusted profits. Boeing (BA) reported non-GAAP earnings of $2.55 per share on $22.7 billion in revenue, while analysts had been looking for $2.30 per share in adjusted earnings on $23.03 billion in sales. The defense contractor reported $24.8 billion in revenue and non-GAAP losses...
Yesterday there was an increase in demand for the American currency against the background of the release of positive statistics and growth in the US government bonds yield. In July, the consumer confidence index increased by 3.2% to 121.1. Experts expected the indicator at the level of 116.5. The 10-year US bonds yield rose sharply to 2.33%. Today the attention is focused on the Fed’s meeting. Experts expect that the regulator will leave the interest rate range at the previous level of 1.00-1.25%. At the same time, it is necessary to follow the comments and rhetoric of the Central Bank representatives. The Australian dollar is under pr...
You need to understand something this morning. Namely that former trader and self-described “permabull” Mark Cudmore is calling for “an immediate rally” in the dollar. As you’re probably aware, the dollar is a lot like Jeff Sessions – “beleaguered.” And what’s funny is, both the dollar and Sessions are “beleaguered” for the same fucking reason: Donald Trump. See Trump is going to fire Jeff Sessions for having the audacity to recuse himself from the Russia probe. That’s no good in Trump’s eyes, because as both former FBI Director Comey and now thousands of Boy Scouts know, this is a President who “expects loyalty....