NASDAQ

Fake Out: A Rally Built On 'Hot Air'

One of the most fascinating aspects of market psychology is participants’ tendency to get bullish at new highs, especially in light of the fact that in recent years every major rally, especially those producing new highs, have set up for a sizable trade to the short side.

Starbucks CEO Howard Schultz Is Stepping Down

Starbucks has announced that its CEO, Howard Schultz, a vocal proponent of the minimum wage and vocal supporter of Hillary Clinton not to mention the person who almost single-handedly created Starbucks as a worldwide brand, is stepping down and will be replaced by COO Kevin Johnson.

Nasdaq Tumbles Into Red Post-Trump As Bond Market Crashes

It appears the growthiness of the new regime is not so friendly to FANG stocks and big tech as the Nasdaq just gave up all its gains post-election.While tech is the biggest loser in stock land, it's the bloodbath in bonds that is most worrisome as 30Y yields spike another 10bps today..

All Aboard! Trump's Express Train To The Future

Everybody’s talking about the feds’ opportunity to “invest” free money. It makes us nervous; we know how hard it is to get a good return on investment – especially when you don’t know what you’re doing.

Global Stocks Slide On Italian Bank Worries; Dollar Dips As Trumpflation Takes A Back Seat

European shares dipped and U.S. equity-index futures (-0.3%) pointed to a lower open as traders questioned the stability of the Italian banking sector ahead of next weekend's referendum as well as the longevity of the Trumpflation rally, pressuring the dollar.  "It's a bit of a pull back in the dollar," said Societe Generale strategist Alvin Tan. "The fall in oil is pushing back U.S. bond yields and that is leading the consolidation in the dollar.. there is more scepticism about an (OPEC) output cut now."

Furious Dollar Rally Fizzles On "Black Friday"; US Stocks Set To Open At New All-Time Highs

Having soared to fresh 13 year highs in a quiet overnight session on thin liquidity due to the US Thanksgiving holiday the dollar pared back its weekly advance with modest profit taking after traders wondered if the rally has gotten "too stretched." European shares were fractionally higher, with Asian stocks and US equity futures rising and both the Dow Jones and the S&P set for new all time highs.