Loading ...Oil hit another high of $145 today and oil stocks were down again but the US stock markets (Dow and S&P) were both up. This doesn’t make any sense to me as obviously the oil stocks should be going up (not continuously down) when oil continues to hit record highs. I’m expecting that when companies […]
Housing:
Hovnanian Enterprises Inc., the New Jersey home builder is planning on raising $191 million in a stock sale; the stock dropped 12%. This is interesting because the company just forecast on May 5th that its 2008 cash flow would triple to $300 million. Today’s news makes me think that perhaps the cash flows […]
Should North American investors be investing based on an economic environment that is recessionary or inflationary?
As mentioned previously, the US economy seems to be in a bull market as bad news (such as housing or employment stats) results in rising stock markets. If the market responds to bad news by pushing up the stock […]
Recap:
Another US bank reported poor earnings, as Bank of America’s profits fell 77% on $6 billion of write downs. So far this quarter most of the poor earnings have been restricted to the companies with financial exposures i.e. banks.
Commodities:
Interesting stat by the International Energy Agency (EIA) that shows oil consumption by the emerging markets […]
Recap:
Big day in the markets with the Dow and TSX up 256 and 248 respectively. A number of companies reported earnings today: JP Morgan’s earnings were down 50%, IBM’s up 26%, EBay up 22% and Sallie Mae posted its third consecutive loss. The theme today seems to be that the weakness in the market is […]
Recap:
The TSX was up 55 and the Dow Jones was down 23 after another big bank (Wachovia) reported a quarterly loss and cut its dividend. It’ll be interesting to see how many more write-offs are coming and how many banks report lower earnings or even losses. I expect there will be many more.
Economics:
Retail sales in […]
