The Canadian dollar was consolidating but waiting to take advantage of another fall of the US dollar. It still has the backwind of the BOC’s hawkish hike last week. The hammer came from special counsel Robert Mueller. The probe into Trump’s connections with Russia will expand into his personal business dealing with family and associates involved. If the President is in deeper trouble, the prospects of passing tax reform and infrastructure spending falls sharply. Health care reform is mostly dead. Don Junior is also in trouble. The news sent the dollar down and the loonie was there to reap the benefits. USD/CAD is trading at the lowest...
Last week, Trump nominated Quarles to the Federal Reserve board. What does it mean for the gold market? The Bank of Japan kept policy unchanged yesterday, so markets were little moved. Investors await now the ECB meeting – the euro appreciated against the U.S. dollar amid the monetary policy statement. If Draghi is less hawkish than expected, the greenback will probably rebound, which could hurt gold. We will analyze the ECB’s decision in the upcoming days – today we would like to cover Trump’s recent nomination. The U.S. president has chosen Randal Quarles for the Federal Reserve’s vice chair for supervision post. He previously wor...
Rogers Communications Inc. (RCI), a Toronto-based telecommunications and media company, issued their first financial and operating results for the second quarter ended June 30, 2017 since Joe Natale became its CEO in April. Key Financial Results (In millions of Canadian dollars, except per share amounts) are as follows: Revenue: was UP 4% to $3.59 billion from last year’s second quarter and within analyst estimates. Wireless service revenue: was UP 8% primarily as a result of a larger subscriber base and the continued adoption of higher-value Share Everything plans. Cable revenue: was stable this quarter, as continued strong Internet...
Tribhovandas Bhimji Zaveri from Rs 60 touched Rs 102 levels and consolidated a bit to Rs 85 levels. The pattern on the weekly charts says it all.. The Target for TBZ comes out to be Rs 140 Levels. Recommendation: – Buy on Dips Chart is attached below for the reference....
Bitcoin – Boosted by Upgrade The value of digital currency heavyweight bitcoin hit a near two-week high on Thursday as worries over a potential split in the cryptocurrency continued to ease. And according to a technical note from investment bank Goldman Sachs, BTCUSD could beat the June 12 high of $3,000. In a client note sent earlier this week, analyst Sheba Jafari said that her minimum price target was now $2,988 with a potential upside of $3,691. Thursday’s price surge also happened despite Coinbase, one of the largest digital exchanges, warning that they will suspend trading, withdrawals and deposits four hours ahead of a potenti...
Buy High… and Sell Higher As I mentioned last week, the easiest way to find the market’s hottest stocks is to look at a list of stocks trading at 52-week highs. Here you can find a list of Nasdaq issues at highs. And here’s a list compiled by The Wall Street Journal on the NYSE. Before drilling down on that list, I’d like to identify the market’s strongest sectors. These sectors will likely hold the market’s most attractive momentum plays. In the last year, the top three performers are financials (32%), technology (26%) and industrials (19%). Now you can focus your research on stocks making new highs in the sectors with the mo...
As you become financially literate, you start to learn tips and tricks that the average person knows nothing about. One of our favorites is Rollovers for Business Startups – a way to use your 401(K) to finance your new business, with no tax penalty. Here’s how it works. In 1974, the Employee Retirement Income Security Act was turned into law. The law made it possible for people with 401(K) plans (and other eligible retirement plans) to use money from their accounts to buy or start a business, with no tax penalty. Today, Guidant Financial is the leader in completing these transactions. They have already helped more than 14,000 entrepreneur...
Long-suffering Kinder Morgan (KMI) longs got some welcome news this week. After nearly two years of reduced payouts, Kinder Morgan will be aggressively hiking its dividend next year. Kinder will be bumping its annual payout from $0.50 to $0.80 next year, and plans to push it to $1.25 per share by 2020. That amouts to a 60% increase next year and 25% annual growth for the two following years. And it doesn’t stop there. KMI is also undertaking a $2 billion share repurchase, which is equal to about 5% of the company’s market cap at current prices. And perhaps most importantly, Kinder expects to do all of this — along with funding new g...
The Philly Fed Business Outlook Survey declined but remains in expansion. Key elements are in expansion but significantly weaker. Analyst Opinion of the Philly Fed Business Outllook Survey This month new orders significantly declined and is barely in expansion. Consider this a weak report. The New York Fed’s manufacturing survey (released earlier this week) also significantly declined but remained in expansion. This is a very noisy index which readers should be reminded is sentiment based. The Philly Fed historically is one of the more negative of all the Fed manufacturing surveys but has been more positive then the others recently. The...
American equities have been a good place to invest during the current bull market, now in its eighth year. Since the November election, the S&P 500 Index has surged close to 16 percent. But this means that valuations continue to creep up, and political risk threatens to derail further gains as President Donald Trump’s high-growth agenda stumble on even more roadblocks. Investors might, therefore, be looking for an alternative. I believe one of the most attractive destinations for your investment dollars right now is emerging European countries. Below you can see a valuation comparison between U.S. and emerging European equities. Trading...