US Markets

Will Rising Existing Home Prices Begin To Slow Sales?

There is a dichotomy between U.S. sales of new and existing homes. This has been preceded by a dichotomy between how their median prices were diverging from each other. June saw existing home sales jump to a seasonally adjusted annual rate of 5.49 million units – the highest since 5.79 million in February 2007 (see chart 1 below). New home sales, however, fell to a seasonally adjusted annual rate of

Chart Of The Day: Chinese Stock Market ETF (FXI) Crushed

The Shanghai Stock Exchange (SSEC) fell 8.5 percent overnight highlighting just how unsettled investors are in that market. That drop has translated to a 4.3 percent drop on the iShares China ETF (FXI) as the U.S. markets near the last 30 minutes of the trading day. I’m not all that surprised because the original 30 percent selloff created a lot of overhead supply. So even though we saw a sharp rally

U.S. Corn Weekly Review: Corn Futures Feel The Fade

This was without question a tough week for Corn Bulls. Monday’s price action showcased a 15 ¼-cent lower close in December corn futures ($4.16), which resulted in CZ5 closing at its lowest level since June 29th. What is the significance of June 29th? It was the last trading day prior to the release of the June Acreage and June Stocks reports, which collectively prompted December corn futures to enter their acceleration phase

Can Biogen Regain Its Mojo? BIIB Earnings On Tap…

Biogen has lagged the scorching hot biotech group this summer. Why? Well, Wednesday Biogen Idec (BIIB) announced some apparently disappointing data on its Alzheimer’s drug. Look for more color on that during Thursday’s Biogen earnings report conference call, a report that will now be watched by many Biotech investors. How BIIB earnings are received coupled with what they say on their Alzheimer’s drug will likely move the Biogen stock. According

Gold’s Mini-Crash Leaves It Oversold, But Vulnerable

I’ve written a lot about the macro headwinds that face Gold. And even though I’m still neutral to bearish on the yellow metal over the next year or so, I’m still a trader… so I’m always looking for opportunities. So when Gold prices sold off sharply on Sunday night, I did what I always do:  check the charts. But what I found was a difficult setup. The yellow metal had

Unusual Options Activity: 5 Stocks To Watch (PYPL, C, AKS, AMD, BAX)

Unusual Options Activity Report Here’s a quick look at 5 stocks showing unusual options activity with some color around the trading setups and recent news about the companies. AK Steel (AKS)- There was a rollout from 16,431 Sep $3 puts ($0.47 credit) into 32,177 Jan 2016 $2 puts ($0.24 debit). Steel prices are hitting multi-year lows and EPS estimates continue to be revised lower because of it (-$0.47 to -$0.90

U.S. Auto Loans Rise Sharply As Sales Remain Strong

June U.S. auto sales 17.1mn units, preceded by cycle high of 17.7mn in May Auto loans nearing $1tn; sharp rise since 3Q10; non-revolving consumer credit $2.5tn Potential problems in autos: extension of average maturity and rise in average amount financed One bright spot in the current U.S. expansion has been auto sales. Since peaking at a seasonally adjusted annual rate of 20.6 million units in July 2005, sales of light-weight

Las Vegas Sands 2Q Earnings Preview: Will Seasonality Be A Tailwind?

Las Vegas Sands (LVS) received a boost recently as reports circulated that Macau may lift its smoking ban on casinos. Las Vegas Sands is scheduled to report 2Q earnings some time this week (TBD). Analysts are expecting Las Vegas Sands 2Q earnings to come in at .61c per share on 3.04B in revenue. The last four quarters have been woeful for LVS and their stock has followed suit. According to

Corn And Soybeans Weekly Report: Prices Continue Recovery

On Friday the USDA released the July WASDE report. The immediate price reaction in corn and soybeans was lower; however both markers recovered quickly and eventually closed higher on the day with December corn futures closing at $4.45 and November soybean futures closing at $10.22 ¼. The following is a summary of the USDA’s latest supply and demand estimates, as well as a summary on soybeans in particular. On Thursday,