Gold Continues to Rally – 2/3/16

Mortgage applications fell last week by 2.6% as snow covered much of the East Coast. Applications to refinance rose 0.3%, but are down 31.5% from a year ago. Applications to purchase a home fell 7% from a week earlier but are 17% higher than a year ago. (Mortgage Bankers Association) Job growth in the private…

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As Oil Goes So Goes Stocks 2/2/16

It is Ground Hog Day and the market like the movie is the same thing over and over. As go the price of oil so goes stocks.  This morning that is down. The US consumer is not doing too bad.  Consumer spending was unchanged in December after rising 0.5% in November. Consumer spending increased 3.4%…

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An Almost Perfect Correlation – 02/01/16

An Almost Perfect Correlation While we slept in was reported China’s manufacturing sector contracted at the fastest pace since 2012 in January.  That added worries about oil demand from the world’s second-biggest economy at a time when the market is already weighed down by a large supply overhang. For the last month or so oil…

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GDP Number Underwhelms – 1/29/16

The Bank of Japan shocked financial markets overnight by adopting negative interest rates for the first time ever, in a desperate attempt to kick start the world’s number three economy. A rate of -0.1% will now apply to excess reserves parked at the central bank, which said it would extend the policy “as long as…

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Rates Left Unchanged – 1/28/16

US Stocks sold off yesterday after the Federal Reserve left interest rates unchanged saying the economy has slowed since December.  The Fed also mentioned that a second interest rate hike in March was unlikely.  Large losses from corporate heavyweights Apple and Boeing accounted for much of the drop in the Dow Industrials.  With Apples declining…

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Boeing Beats Analyst Expectations – 01/27/16

Boeing Beats Analyst Expectations US Stocks traded sharply higher yesterday led higher by big earnings driven gains and oil prices trading higher. Today investors are digesting more earnings reports and looking towards 2pm when the Fed decision about interest rates is announced. Yesterday after the bell Apple reported earnings that beat consensus estimates but missed…

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