Image Source: Pixabay The yen was once known as a safe-haven currency for investors to protect themselves when broader markets are shaky or other currencies are dropping, but those days are numbered. A stable government and consistent (and low) interest rates have been some of the driving factors, but it’s the unwinding of that ultra-low interest rate policy that will be the yen’s “safe haven” undoing as gold retains its protective characteristics and rockets upward.Both gold and yen have benefitted from investors looking to park their cash somewhere safe during times of high risk. But ZIRP policy in Japan has gone on for so l...
Image Source: Unsplash Block (SQ) is scheduled to report results for its first fiscal quarter after the market close on May 22, with a conference call scheduled for 5:00 pm EDT. What to watch for: PROBE: Federal prosecutors are examining financial transactions at Square and Cash App owner Block, Gretchen Morgenson of NBC News reports. Internal documents indicate Block processed crypto transactions for terrorist groups and Square processed transactions involving nations subject to economic sanctions, according to the report and two people with direct knowledge of the matter. Most of the transactions discussed with prosecutors, involving c...
Image courtesy of 123rf.com Apple Inc. (Nasdaq: AAPL) will report its fiscal second-quarter earnings on May 2, 2024, after the market closes. Analysts expect the tech giant to post earnings per share (EPS) of $1.50, slightly lower than the $1.52 reported in the same quarter a year ago. The company is projected to generate revenues of $90.36 billion, marking a decrease from the previous year’s figures. Apple’s Upcoming Earnings: Key Details and Expectations As the earnings announcement approaches, investors and analysts will closely monitor key performance metrics, including iPhone sales, particularly in the crucial Chinese market, and ...
Image Source: Pexels S&P 500 Aggregate Estimates and Revisions The 24Q1 Y/Y adjusted blended earnings growth estimate is 10.0%. If the energy sector is excluded, the growth rate for the index is 10.0%. Please note that the 24Q1 year-over-year growth rate for Bristol Myers Squibb reflects an approximate $12 billion one-time charge related to its acquisition of Karuna Therapeutics. When including this one-time item, the S&P 500 24Q1 earnings growth rate declines to 6.9%. Of the 373 companies in the S&P 500 that have reported earnings to date for 24Q1, 77.2% reported above analyst expectations. This compares to a long-t...
Image Source: Pixabay Gold against the 60/40 portfolio is the most important Gold chart for 2024. I expect this chart to give a secular bull confirmation signal over the coming months. It’s end of April reversal prevented the signal at the close of the month.Video Length: 00:06:13More By This Author:Debt Monetization & Recession is Perfect Scenario for Gold & SilverMassive Bull Market Is Underway In Gold Stocks Gold & Silver Stocks Are Outperforming Metals...
Image Source: Pixabay Copper has been a really good predictor of where the ISM Manufacturing report is going to go.Video Length: 00:19:43More By This Author:Implied Volatility Crush Sends Stocks Higher As Usual During The Fed Announcement The Bears Can Feel It In The Air Rate Cuts Odd For 2024 Are Melting Away...
Wednesday’s Fed decision was largely unsurprising. But the most important data point of the day came long before the Fed decision. The latest JOLTS report showed the lowest levels of quits since early 2018 when Core PCE inflation was around 2%. This is an interesting data point because the quit rate has tended to be a good measure of labor market tightness. As the following chart shows the quit rate tends to lead hourly earnings. The basic logic is that quits are indicative of how much negotiating power workers have. When they are quitting they’re exercising their power to leave one job for another without worry. This tends to lead wage d...
COTTON General Comments: Cotton was lower again yesterday and trends remain down in the market. Demand remains a problem. The export sales report showed poor sales once again and demand is not likely to improve with the Dollar stronger. USDA made no changes to the domestic supply or demand sides of the balance sheets, but did cut world ending stocks slightly. Trends are still down on the weekly charts. Demand has been weaker so far this year. The US economic data has been positive, but the Chinese economic data has not been real positive and demand concerns are still around. However, Chinese consumer demand has held together well, leading som...
The Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) boast triple-digit midday leads, as investor panic over interest rates cools off after yesterday’s Federal Reserve meeting. The S&P 500 Index (SPX) is higher as well, with traders at ease after Fed Chair Jerome Powell noted interest rate hikes are unlikely. Higher-than-expected labor costs for the first quarter — a signal that inflation is still hot — may keep today’s gains in check, though. Qualcomm Inc (Nasdaq: QCOM) yesterday reported fiscal second-quarter earnings and revenue that surpassed estimates, prompting no fewer than 13 price-target ...
Image Source: Unsplash RBA meeting to be closely watched The 7 May Reserve Bank of Australia (RBA) meeting is worth watching closely. Recent inflation data in Australia looks to have stalled on a monthly basis and has even started to nose higher. That said, Australian inflation has actually performed better than we had been expecting. We had looked for it to rise sooner and by more. On that basis, inflation isn’t causing us any undue concern. This looks to us like it will be another no-change meeting. Compared to the US, Australia’s economy has slowed more and the labour market softened more significantly.Time is probably all that is nee...