The Globe & Mail (Canada) – Party isn’t over for upside earnings surprises Despite the string of bullish quarterly estimates, the earnings themselves exceeded them throughout 2010 – another trend that isn’t historically typical, overall. But Mr. Lapointe and Mr. Bellefleur said that if you look at historical periods when earnings did beat consensus expectations… Continue reading Earnings Season Is Coming
<Click on chart for larger image> Barron’s – Michael Santoli: What Is Low Volume Telling Us? Adding it all up, the dearth of volume is understandable, yet without a clear implication for the market’s direction. It’s yet another way that the market feels like it’s in the low-volume, Fed-medicated, range-trading, easy-corporate-credit, buyout-happy days of the… Continue reading Low Stock Market Volume
<Click on chart for larger image> Reuters – U.S. gallon of gas jumps to $3.76, could see $4-survey The average price for a gallon of gasoline in the United States has moved closer to $4, jumping more than 19 cents since mid-March to a level less than 10 percent below its all-time high, a widely… Continue reading Soaring Gas Prices
Bloomberg.com – China Inflation Is `Somewhat Out of Control’ on Weak Currency, Soros Says China’s decision to keep its currency weak has caused the government to lose control of inflation and risks fuelling wage-price gains, billionaire investor George Soros said. While the policy helped insulate China from the financial crisis in 2008, the world’s second-biggest… Continue reading Chinese Inflation
The Independent (UK) – Stephen King: Inflation targeting simply has not worked and now is the time to let go The new behemoths bend, twist and warp prices in ways that make the control of inflation more difficult Perhaps it’s time to write the obituary for inflation targeting. After all, it hasn’t been working very… Continue reading UK Inflation Targeting … A Failure?
Reuters – Egypt army says will use force to clear protesters Egypt’s ruling military council said on Saturday it would clear protesters from a central Cairo square with “firmness and force” to allow life to return to normal. Speaking at a news conference, a senior military officer blamed trouble in Tahrir Square on “elements that… Continue reading Egypt Is Not Improving
<Click on graphic for larger image> Zero Hedge (blog) – Exclusive: Bill Gross Is Now Short US Debt, Hikes Cash To $73 Billion, An All Time Record A month ago, Zero Hedge first reported that Bill Gross had taken the stunning decision to bring his Treasury exposure from 12% to 0%: a move which many… Continue reading PIMCO Is Now Short Treasuries
The Wall Street Journal – Economists See Growth Accelerating Later in Year The U.S. economic recovery is expected to gain momentum over the rest of the year, despite a sharp pullback in growth during the just-finished first quarter, according to economists surveyed by The Wall Street Journal. On average, the 56 economists polled downgraded their… Continue reading Economists Are Bullish On The U.S. Economy
The Financial Times – Wolfgang Münchau: Complacent Europe must realise Spain will be next European politicians have every incentive to postpone crisis resolution indefinitely, as I argued last week. In the meantime, the debt of several peripheral eurozone countries continues to build up. On Wednesday, Portugal finally accepted the inevitable and applied for a financial… Continue reading European Contagion
The Telegraph (UK) – Gordon Brown: I made a big mistake on banks Gordon Brown has admitted he made a “big mistake” in the way he tackled financial regulation before the banking system collapsed In his first clear admission of some responsibility for the financial crisis, the former prime minister claimed he had not understood… Continue reading Gordon Brown Fesses Up
<Click on graphic for larger image> Chicago Real Estate Daily – J. P. Morgan covers sale costs for Dimon’s Gold Coast mansion Jamie Dimon made nearly $21 million last year in cash and stock awards as CEO of J. P. Morgan Chase & Co., but the giant bank still covered $421,458 in real estate commissions… Continue reading Jamie Dimon’s House
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