The bellwether SP 500 traded completely inside of last Monday's trading range from Tuesday through Thursday of last week, indicating near-term investor indecision, before staging a tentative move to new all-time highs on Friday. Friday's move to new highs, despite a sharp downward revision in Q4 2014 GDP and amid worries about Russian intervention in Ukraine, was an impressive show of bullish investor conviction and is characteristic of a market that wants to go higher. Continue reading "Will These Obstacles Slow The Market's Bullish Trend?"
Category: General
Weekly Futures Recap With Mike Seery
We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.
Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.
Gold Futures
Gold Futures--- Gold futures are trading above their 20 and 100 day moving average basically settling unchanged for the trading week going out this Friday afternoon in New York down about $8 at 1,323 after prices hit 1,345 in Wednesday’s trade as the trend still continues to the upside. I think this is just a possible pause as prices have had a heckuva rally in the last 2 months and I have been recommending a long position in gold for quite some time while placing my stop below the 10 day low which currently stands around 1,315 which is only $8 away so that stop is very tight with a high probability of getting clipped at that price on Monday, however Continue reading "Weekly Futures Recap With Mike Seery"
U.S. Economic Growth Lowered To A 2.4 Percent Annual Rate
The U.S. economy grew at a 2.4 percent annual rate last quarter, sharply less than first thought, in part because consumers didn't spend as much as initially estimated.
Severe winter weather is expected to further slow the economy in the current quarter. But as temperatures warm, most economists think growth will rebound beginning in the spring.
The Commerce Department on Friday reduced its estimate of economic growth in the October-December quarter from an initial 3.2 percent annual rate. The revised estimate of 2.4 percent annual growth is the weakest quarterly showing since the first quarter of 2013.
A key reason for the downgrade was that consumer spending is now estimated to have expanded at a 2.6 percent annual rate, below the initial estimate of 3.3 percent though still the strongest quarterly spending by consumers in nearly two years. Continue reading "U.S. Economic Growth Lowered To A 2.4 Percent Annual Rate"
Is The Recent Economic Slowdown Temporary?
Federal Reserve Chair Janet Yellen noted Thursday that some recent economic data have pointed to weaker-than-expected gains in consumer spending and job growth. She said the Fed will be watching to see whether the slowdown proves only a temporary blip caused by severe winter weather.
Yellen told the Senate Banking Committee that the Fed will be alert to upcoming data to make sure that the economy keeps strengthening.
"We have seen quite a bit of soft data over the last month or six weeks," Yellen said. "We need to get a firmer handle about how much of the softer data can be explained by the weather."
Responding to a question, Yellen repeated the Fed's assurances that its pullback in stimulus for the economy is "not on a preset course" and could be modified if there was a "significant change" in the Fed's outlook. The Fed is gradually reducing its monthly bond purchases, which have been intended to keep long-term loan rates low to encourage spending and growth. Continue reading "Is The Recent Economic Slowdown Temporary?"
How to Find Wild Flowers in the Weeds
The Gold Report: In January, the exchange-traded fund SPDR Gold Trust (GLD:NYSE.Arca) outperformed its silver counterpart, the iShares Silver Trust (SLV:NYSE.Arca), by about 6%. Should investors expect gold to outperform silver for the entire year?
Michael Fowler: Gold and silver are going to perform in tandem this year. Gold is in a corrective phase at the moment. I expect it to average around $1,300/ounce ($1,300/oz) and silver to average about $21/oz. We expect gold and silver prices to increase into 2015.
TGR: We've seen a bevy of bought-deal financings to start the year. Some, like Luna Gold Corp. (LGC:TSX; LGC:BVL), are financing below current market prices. Could you provide us with some insight as to what's happening there? Continue reading "How to Find Wild Flowers in the Weeds"
