Markets
Oil Rally Taking a Pause?
Its worse in Europe than here in the U.S. Industrial production dropped 1.9% in a particularly cruel April, nearly double the 1% drop that was expected. First quarter GDP… Read more
IEA Revises Oil Demand Numbers: Good News for Investors?
The International Energy Agency (IEA) reported that demand for oil is picking up. Instead of the 3% drop in demand, the IEA says that it now expects demand to… Read more
New Form of Mortgage-Backed Security Losses Ahead
"The worst is to come…"
That’s what MetLife’s (NYSE:MET) Chief Investment Officer Stephen Kandarian told Bloomberg this morning.
He was talking about commercial mortgage defaults. He notes that "[t]ypically… Read more
C and WFC “Profits” in Question
I don’t like to accuse people of lying. Those are fighting words. But after last night’s 60 Minutes interview with Fed Chief Ben Bernanke I am compelled to say… Read more
Financials Lead: GS, KEY, FITB Up
No sooner do I say that the news cycle is turning negative, we get some significant upgrades in the financial sector. Goldman Sachs (NYSE:GS) got an "outperform" rating and… Read more
Bernanke and Geithner Comments Conflicting
Yesterday, Ben Bernanke told the House Budget Committee:
"In recent weeks, yields on longer-term Treasury securities and fixed-rate mortgages have risen…[t]hese increases appear to reflect concerns about large federal deficits…"
Hmmm…. Read more
Financials AXP, JPM, WFC, C All Lose Steam in Trading
Russia is grumbling. Seems they are not happy that rising debt, slow growth and record Treasury bond sales are dragging the U.S. dollar down. In fact, Russian president Medvedev… Read more
Indices Heading for New Highs or a Pull Back?
The high close for the Nasdaq since the rally began was 1,763. Yesterday’s close was 1,751. For the S&P 500, the high close was 929 and it closed at… Read more
Housing Bottom and 19% Gain on BlackRock (BLK)
Yesterday, it was reported that median home prices fell to $209,700 from $246,400 in April 2008. That’s a steep year-over-year correction, even though prices were up from March 2009.
Today,… Read more