We’ve used data based on the Energy Information Administration (EIA), which publishes price data weekly on home heating oil in 38 states by dollar-per-gallon before taxes. Unlike natural gas and electricity, home heating oil is provided by independent retailers. The latest price of home heating oil nationwide is $3.18, up eleven cents from last week and up fifty cents since the beginning of the season. EIA’s heating oil data is seasonal – from October through March. Here’s a look at the series since its inception in 1990. The next chart shows a regional breakdown. As you can see, it’s extremely volatile. Anothe...
The headlines say wholesale sales were up month-over-month with inventory levels remaining elevated. Our analysis essentially agrees. Analyst Opinion of this month’s Wholesale Sales The improvement this month in the headline data was primarily due to durable goods. Overall, I believe the rolling averages tell the real story – and they improved this month. The current trends are accelerating (improving). Inventory levels remain elevated but below recessionary levels.. To add to the confusion, year-over-year employment changes and sales growth do not match. Note that Econintersect analysis is based on the change from one year ago. ...
How big of a deal was today’s “big” news out of China regarding the future of U.S. Treasury purchases? Well, that depends on who you ask and, to a certain extent, when you ask them. There’s something invigorating about a notable story crossing the wires first thing in the morning, so the tone of the early chatter out of U.S.-based commentators might well have reflected that glorious moment when the day’s first line of blow, shot of vodka, dose of caffeine starts to work its magic by jogging the old muse. Upon more sober reflection (and “sober” there depends on how you choose to go about finding your muse in the morning), thi...
Most of today’s stock speculators don’t remember the bond vigilantes and wouldn’t even recognize one in the flesh. They were just too scary to have been a character on Sesame Street. But last night some strange riders were spotted galloping eastward from China and Japan. While their visage may be somewhat foggy to the uninitiated, the boys and girls on Wall Street are about to discover that it’s not exactly Big Bird swooping onto their playground. And at precisely the worst time. After all, the 150 Dow point melt-up each day since the turn of the year was fueled by pure speculative momentum. As Heisenberg no...
The Tax Cuts and Jobs Act (TCJA) signed into law on December 22, 2017, promises no relief from one big tax on income — the inflation tax. Quite the contrary, there are strong grounds to expect this burden to increase as new and unannounced methods of collection evolve further. In recent years, the Fed’s commitment to the two-percent inflation standard, buttressed by radical experimentation in interest rate manipulation, has created a famine of interest income from which Uncle Sam has been a main gainer. Just look at the dwindling interest bill on government debt. As the Federal deficit to GDP ratio now climbs to a new peacetime record for...
Fleshwound… After China’s comments ‘swept the leg’ of the stock and bond markets overnight, dip-buyers have stormed back into stocks, sending The Dow green on the day (thanks mostly to Boeing and JPMorgan)… Gold has given up its gains as stocks rallied but bonds remain lower in price… ...
This morning, B. Riley FBR analyst George Zavoico raised his price target for Novavax (NVAX) nearly five-fold to $10 after the company announced more details about an informational analysis of Prepare, an ongoing Phase 3 trial of an RSV F vaccine for maternal immunization to protect newborn infants. This target hike comes just five days after Zavoico started coverage of the stock with a Buy rating and a $2.25 price target. PREPARE UPDATE: In slides accompanying a presentation by the company at the 36th annual JPMorgan Healthcare conference, Novavax provided an update on the status of its Phase 3 Respiratory Syncytial Virus vaccine for Infants...
This morning, B. Riley FBR analyst George Zavoico raised his price target for Novavax (NVAX) nearly five-fold to $10 after the company announced more details about an informational analysis of Prepare, an ongoing Phase 3 trial of an RSV F vaccine for maternal immunization to protect newborn infants. This target hike comes just five days after Zavoico started coverage of the stock with a Buy rating and a $2.25 price target. PREPARE UPDATE: In slides accompanying a presentation by the company at the 36th annual JPMorgan Healthcare conference, Novavax provided an update on the status of its Phase 3 Respiratory Syncytial Virus vaccine for Infants...
GBP/USD Daily Chart Technical Outlook: The British Pound has carved out its monthly opening-range just below the 2017 high close at 1.3589 with interim support eyed at the 2018 high-day close at 1.3495. As discussed in this week’s Technical Perspective, seasonal tendencies are pretty heavy for Cable with the daily momentum profile also looking a bit vulnerable here. Ultimately, we’re looking for a break of this range to validate our near-term outlook with the broader bias still weighted to the topside while within this multi-year ascending pitchfork formation / 1.3320. GBP/USD 240min Chart Notes: A closer look at price action hig...
Small-cap growth funds are natural choices for investors with a high risk appetite when capital appreciation over the long term takes precedence over dividend payouts. These funds focus on realizing an appreciable amount of capital growth by investing in stocks that are projected to rise in value over the long term. Meanwhile, small-cap funds are good choices for investors seeking diversification across different sectors and companies. Small-cap funds generally invest in companies having market cap lower than $2 billion. The companies, smaller in size, offer growth potential and their market capitalization may increase subsequently. Also, due...