No positive surprises in today’s data from China and the U.S.–so bad news from Europe sets the market tone
The economic data moving the market today comes from Germany and the EuroZone where news of the worst month-to-month retail sales drop since May 2009 and of a jump in inflation to a 3% annual rate has sent the euro down and the U.S. dollar up.
A strong dollar amplified the recent stock and commodity swoon–and I don’t think (oddly enough) that we’re done with the strong dollar yet
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...GM gets a credit rating upgrade and Ford looks like it’s next
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Global stock markets waiting for economic reports from China and U.S. tomorrow to decide direction
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Germany approves expanded powers for euro debt facility–now on to the hard work
By a vote of 523 in favor and 85 opposed the Bundestag approved a measure to enable the European Financial Stability Facility to buy troubled government bonds and to offer precautionary credit lines to banks. It also increased Germany’s guarantees for the facility to 211 billion euros from 123 billion. Enough parliamentary members from Chancellor Angela Merkel’s collation voted in favor to give her a so-called “chancellor’s majority.”
Tomorrow’s reaction to the likely German vote in favor off the July 21 euro debt plan is make or break for the current rally
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Case for a third quarter GDP surprise gets a bit stronger with this morning’s durables numbers
Orders for nondefense capital goods (excluding aircraft), the stuff companies buy in order to make more stuff, increased 1.1% in August after dropping 0.2% in July: there’s no evidence of the kind of collapse in capital spending that occurs when companies are getting ready for a recession.
Tough nut Finland votes Yes today on approving new euro bond buying powers; last tough nut Germany votes tomorrow
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Use this rally to reduce your exposure to Europe’s slow growth by selling stocks such as BorgWarner
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...F5 Networks gives you exposure to both cloud computing and virtualization–plus gross margins of 80%
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...European stocks soar as today’s good news story fills the gap left by a rebuttal to yesterday’s good news
This morning the European Investment Bank went to some lengths to rebut yesterday’s story that had the bank at the center of a new European guarantee mechanism but Eurogroup President Jean-Claude Juncker told Reuters that he has been informed that representatives of the International Monetary Fund, the European Central Bank, and the European Union will return to Athens on Wednesday or Thursday.