It is fitting that just a few hours until the Fed's second rate hike in two quarters, and one day after Goldman downgraded global stocks to Neutral for the next 3 months, not to mention with the results of the anticipated Dutch election due shortly, that global stocks as well as S&P futures are higher, while crude oil has finally managed to stage a rebound as the Dollar DXY index is fractionally in the red.
European stocks declined for first session in five ahead of Wednesday's Dutch elections and Fed rate hike announcement. Fed concerns also dragged down Asian shares and S&P futures, while the dollar rose. Crude oil has ended its six-day drop. The pound tumbled 0.8% to the lowest since mid-January in a delayed reaction after Theresa May won permission to trigger the country’s departure from the EU.
One of the traditional signs of market tops is individual investors finally succumbing to the lure of apparently easy money and pouring their savings into the stock market. In the past this dumb money flowed into equity mutual funds in general. But today it’s favoring exchange traded funds (ETFs)...
Mr. Trump doesn’t seem to be an “internationalist,” seeking to build a new world order by political and military means. If that is so, he will sooner or later have to come to grips with the Fed’s policies - most notably with its liquidity swap agreements.
The Swiss National Bank reported that the value of its portfolio of US stocks rose again in the fourth quarter, increasing by 1.6% from $62.4 billion as of Sept. 30 to a record high $63.4 billiion at the end of the year.
The CFTC on Monday fined the largest retail FX broker, FXCM and founding partners Dror Niv and William Ahdout, to pay $7 million to settle charges it defrauded retail foreign exchange customers. As part of the settlement, FXCM agreed to withdraw its registration, effectively banning it from operating in the US.
The prevailing premise, once again, throughout “The Valley” is that “next year” should be the return of those unicorn dreams. After all, how could 2016 be any worse than 2015 was the premise at the beginning of year. The issue? Here in reality, it was "a whole lot worse!" For 2016 now makes not only 2008 look good. It makes 2009 look terrific in comparison.