Stocks are cheap and should rally 15% to 20%: Guggenheim’s Scott Minerd
The stock market hasn’t peaked yet, Guggenheim’s head of investing told CNBC on Friday. Instead, right now it is going through a “classic seasonal adjustment,” said Scott Minerd, the firm’s global chief investment officer and chairman of investments. Guggenheim has...
Rupert Murdoch could buy Fox regional sports networks back from Disney at a discount of billions
The front-runner to buy 22 regional sports TV networks from Disney is the same company that sold them in the first place. “New Fox,” the company that will remain after Rupert Murdoch sells $71.3 billion worth of 21st Century Fox...
Fed’s Mester: Rate hikes are based on data not preconceived notions on where they should be
Cleveland Federal Reserve President Loretta Mester did not use the exact phrase “data dependent,” which was so popular under previous central bank chief Janet Yellen, but on CNBC’s “Squawk Box” Friday she repeatedly said that economic numbers “inform our outlook”...
The Federal Reserve’s favorite inflation indicator says it is under control
When it comes to monitoring inflation, the Federal Reserve watches a different number than the rest of us. Headlines detail the latest Consumer Price Index changes, but the central bank monitors something a lot more esoteric-sounding, the Personal Consumption Expenditure...
The stock market loses 13% in a correction on average, if it doesn’t turn into a bear market
The average correction for the S&P 500 since World War II lasts four months and sees equities slide 13 percent before bottoming, according to analysis at Goldman Sachs and CNBC. The broad market index fell into correction Friday and is...
US Core PCE Index Seen Slightly Weaker in September
The Bureau of Economic Analysis will update its core Personal Consumption Expenditure (PCE) price index, which the Fed consults to set monetary policy, on Monday at 1230 GMT. The data are expected to show that inflation dropped a shy below the central bank’s price...
Week Ahead – US Jobs Report and Eurozone GDP Eyed amid Growth Fears; BoJ and BoE Meet
After a turbulent week for global stocks, attention should shift back to currency markets over the next seven days as a barrage of important economic data are on the agenda, along with more central bank meetings. The latest nonfarm payrolls...
Crude Oil Trading Bearish – Elliott wave Analysis
Crude oil is nicely unfolding a five-wave drop within sub-wave 3) of A, as part of a bigger, three-wave reversal. We currently see a minor pullback within a downtrend in play, which can look for resistance near the 67.6 area,...
USDJPY Outlook: Acceleration through Key Supports on US GDP Data Risks Deeper Fall
The pair accelerated lower and cracked key support at 111.62 (15 Oct low) after US Q3 GDP data showed that the US economy slowed less than expected (Q3 3.5% vs 3.3 f/c and 4.2% prev). Markets got more cautious about...
Australia & New Zealand Weekly: Looking through Monthly Volatility, Westpac’s Employment Outlook for Aus
Week beginning 29 October 2018 Looking through monthly volatility, Westpac’s employment outlook for Australia RBA: Assistant Governor Bullock speaks. Australia: CPI, retail trade, import/export prices, trade balance, dwelling approvals. NZ: residential building consents, business confidence. China: NBS PMI’s. Europe: GDP,...
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