Rising From The Dead – French Industry

Monday, March 24th 2014, is the day for European Flash PMI. The data for March show that services and manufacturing sectors in France are expanding while contracting in Germany. The French flash Composite Output Index rose to 31-month high of 51.6, up from 47.6 in February and above estimates. Services sector expanded for the first time and…...

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Nothing Fazes The Market

The week started with a bang on Monday but ended with a whimper on Friday. Friday’s volatility was expected as it was a quadruple witching day – i.e. a day on which stock index futures, stock index options, stock options and stock futures expired. The March expiration day has generally been volatile producing mixed results…...

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Tough Talk Is Not Cheap

German Chancellor Angela Merkel has been one of Russian President Vladimir Putin’s toughest adversaries in the current standoff between EU and US on one side and Russia on the other. She has issued some of the harshest warnings and ultimatums to Russia. Russian stock market is tanking but German DAX is poised precariously too. The…...

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March Madness or What?

In 2013, all major US Indexes made good upwardly strides. There were few downturns but none of any significant magnitude. Sooner or later there was bound to be a bigger one. It started in the New Year. The January decline was bigger than any pullback in 2013. For S&P 500, it was -4.3% from the…...

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Madam Chairwoman Stands Pat – Federal Reserve’s Semi-Annual Monetary Policy Report

The maiden monetary policy report by Chairwoman Janet Yellen is neither hawkish nor dovish. This was somewhat expected despite hyped-up market expectations. Along with former Chairman Bernanke, Chairwoman was one of the prime architects of the current policy so it should not have been surprising that her prepared remarks were quiet unexciting given that nothing…...

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Extended Stay America

Late last year, the US market bottomed on November 16, 2012. Since then it has been powering higher defying all odds. During this time – 196 calendar days or 134 trading days – the index has not had a significant pullback. Before last week’s decline, it had only three shallow pullbacks averaging -3.43% and lasting…...

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NYSE Composite Has Catching Up to Do

US stock market has run through many resistance levels created over the last decade and is at a very high level. Most of the broad market indices are either at all time high or much higher than the pre-financial-crisis level achieved in 2007-2008. Dow Jones Industrial Averages, S&P 5oo are at all-time highs. So are…