Breaking News – Target (TGT)
Breaking News – Target (TGT) out with earnings.
Breaking News – Consumer Economic Data Results.
Consumer Economic Data Results.
Dollar: JPMorgan Fiasco Fails to Set Off Crisis, Back to Europe
Any way you cut it, the dollar’s recent performance is impressive. So far this month, the Dow Jones FXCM Dollar Index (ticker = USDollar) has climbed 1.9 percent to its highest weekly close since the middle of December. Looking at currency’s performance in specific corners of the market, we find the EURUSD is below 1.3000, AUDUSD is at its lowest level this year and the greenback has even been able to muscle gold (another safe haven) into a potentially critical reversal of a trend that goes back over three years.
Breaking News – Producer Price Index
Producer Price Index
Global Economy Vulnerable As Risk Off Headlines Widespread
JP Morgan losses seriously diminish credibility in banking sector Political saga in Eurozone continues to shake investor confidence China economic data disappoints and weighs further on risk correlated assets Commodity bloc and emerging market FX exposed German; UK inflation mixed The intense risk-off price action that we saw over the past several sessions looked like it might be poised for reprieve into North America on Thursday, before markets got wind
US Dollar Rally May Find Added Fuel in Global Slowdown Fears
Most of the major currency pairs continue to show significant correlations with the MSCI World Stock Index, suggesting that broad-based risk appetite trends remain dominant as drivers of price action. This puts thematic macro-level concerns – specifically, the durability of the US recovery and its ability to offset headwinds from Europe and China facing global growth – squarely at the forefront. The US economic calendar is relatively quiet, with headline event risk clustered at the end of the week as PPI and UofM Consumer Confidence readings cross the wires on Friday. This puts the onus on evaluating the extent of downward pressure.
Euro Under Pressure But Still Waiting for Daily Close Below 1.3000
The ongoing political turmoil in Europe continues to shake the markets, with the inability for Greece to form a government now fueling speculation that the country might soon exit the Eurozone. Although an exit by Greece would have only a minimal impact on the broader economy, given the country’s size, fears of contagion seem to be the bigger problem right now, as investors start to price in the impact this will have on larger economies like Spain and Italy.
Breaking News – Green Mountain
Green Mountain removed Chairman Robert Stiller, who founded the company,
The Next Stop on the Facebook RoadShow
Today Facebook IPO team will be having breakfast with Boston base fund managers but they are likely to be in for a disappointment right at the start with a no show of Facebook CEO Mark Zuckerberg.
Analyst Downgrades
May 7th Analyst Downgrades