Be Careful What You Wish For

George Yacik - INO.com Contributor - Fed & Interest Rates -
 Glass-Steagall


When doing some background research for this column, I came across this article in the May 12, 2017, edition of the Los Angeles Times: “Something Trump and Elizabeth Warren Agree On: Bringing Back Glass-Steagall to Break Up Big Banks.”

Whatever happened to that idea?

As kookie and wrong-headed on other issues as Senator “Pocahontas” often is, she’s at least been pretty consistent when it comes to her view of the banking industry (she doesn’t like it). And according to the article, she wasn’t alone in wanting to “break up the biggest U.S. banks.” Guess who else was on that list? None other than departing White House chief economic advisor Gary Cohn.

Trump himself said, “We’re looking at it right now as we speak,” referring to “going back to the old system” under the Glass-Steagall Act in which commercial and investment banking were separated. Continue reading "Be Careful What You Wish For"

Nasdaq Hits Record As Dow Surges

Hello traders everywhere. The Nasdaq is trading at record highs today erasing last weeks loss and triggering a new green monthly Trade Triangle. In fact, all three indexes are trading considerably higher today and trying to wipe out their losses from last week.

The reason for the significant gains today, a huge jobs number. Nonfarm payrolls jumped by 313,000 jobs last month, boosted by the largest rise in construction jobs since 2007, the Labor Department said on Friday. The payrolls gain was the biggest since July 2016 and triple the roughly 100,000 jobs the economy needs to create each month to keep up with growth in the working-age population.

NASDAQ

The labor market is benefiting from strong domestic demand, an improvement in global growth as well as robust U.S. business sentiment following the Trump administration’s $1.5 trillion income tax cut package that come into effect in January. Continue reading "Nasdaq Hits Record As Dow Surges"

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Record Canadian Cannabis IPO In 11 Days

Analysis originally distributed on February 28, 2018 By: Michael Vodicka of Cannabis Stock Trades

Back in June of 2017, the Toronto Stock Exchange recorded its largest Canadian cannabis IPO ever.

The event generated a lot of attention for the company going public and the broader cannabis sector.

Not all of it was positive. In fact, there were plenty of bearish headlines in the financial media.

Canadian Cannabis IPO

Despite the bearish headlines, Cannabis Stocks Trades saw the long-term potential and added shares to our model portfolio in early June.

Nine months later, shares of Medreleaf (LEAF) are up 158% - even after a recent pullback. Continue reading "Record Canadian Cannabis IPO In 11 Days"

Cohn Resignation Puts Pressure On Stocks

Hello traders everywhere. Gary Cohn's resignation from being President Donald Trump's chief economic advisor has caused the stock market to head considerably lower on the day. His departure creates uncertainty in the markets and fears that the Trump trade war could take place sooner rather than later.

Even on a day when ADP and Moody's Analytics announced that private-sector jobs grew by 235,000 in February, surpassing an estimate of 195,000, Cohn's resignation trumped the good news. The report is used as a preview to the Bureau of Labor Statistics' monthly jobs report, which is scheduled to be released Friday.

Cohn Resignation

Bitcoin has slumped after the U.S. Securities and Exchange Commission reiterated that many online trading platforms for digital assets should register with the agency as exchanges. Continue reading "Cohn Resignation Puts Pressure On Stocks"