it is
Morning Market Report
Futures showed a -96 on the DOW, -43 on NAS and -8 on SP500. The opening 45 minutes confirm this action, but volumes are fairly high on the open.
It's FUCKING BUSY for everyone!-and not just this shit. The shit-show with Mueller is HIGHLY entertaining though-what I've been able to see so far.
The markets were at double-digit loss's on DOW and not a surprise as most of the earnings reports were not good. Let's see if we get the "let's dance" move of a drop and then recovery
to meander back with a smaller loss than initial open-they are doing this now. Going to be hard today that's for sure. Now fundamentals Matter to these asshats! where were you during the hussein admin??
Ok where do I start….. Caterpillar missed and that is not a good thing as it highlights the de-coupliing from globalism but it's spun as
"we're all gonna die". If you were heavily connected to the globalsim narrative you are going to feel it. Harley Davidson a oerfect example.
Boeing also produced a poor report highlighted by a huge miss on revs ( revenue plunging 35% Y/Y to $15.75BN, some $5 billion below the expected $20.45 billion),
and they burned $1b in cash keeping "the lights on". The orders they missed as a result of the 737 max problems are really starting to affect it.
Boeing actually tipped into cash flow negative, reporting $600 million in operating cash burn and a total of $1 billion in negative cash flow,
a far cry from the $4.68BN a year ago, while the company's backlog dropped 2.9% to $474 billion. Shares dropped almost 2% in pre-market but have recovered some in
open trading. Can read moar about Boeing here: https://www.reuters.com/article/us-boeing-results/boeing-sinks-to-3-billion-loss-on-max-groundings-idUSKCN1UJ1G9?
The ANALysts are working over-time as the shit they should have already known (it's not rocket science!-FIRED ALL OF YOU) impacts the qrtly releases.
Amazon was downgraded the day before it's earnings release by Credit Suisse citing worries about "one-day shipping charges", like this is suddenly some new
revelation that no one knew about?-you are fired too. Aston Martin shits bed on a sales forecast revision-sucks to have most of your business tied to banker status symbols now doesn't it.
Hasbro makes good call and decides to start ditching it's chinese mfg operations to place them in india and vietnam as well as releasing it's earnings report:
Hasbro said it had net income of $13.4 million, or 11 cents a share, in the second quarter, down from $60.3 million, or 48 cents a share, in the year-earlier period. Excluding an $85.9 million
non-cash after-tax charge relating to a U.S. pension plan liability, the company had adjusted EPS of 78 cents a share, well ahead of the 50 cents FactSet consensus.
Revenue rose 9% to $984.5 million, also ahead of the $958 million FactSet consensus. Hasbro Inc. shares rose 3% in pre and are up on cash open.
Greek bonds are feeling the spillover effect of the rest of the EU trying to cope with negative yield bond issues. 10Y GGB Yield Plunges Below 2% For First Time Ever.
Italy, Germany, France is next all sperging in the death throes of poor monetary and fiscal policy. The Greek one took longer as that is HEAVILY tied to Douche bank's
spergathon issueing debt that caused the Greek debt crisis. They used that as a barometer for the rest of it's accelrated action and then unleashed that type of "policy" everywhere else.
They have been doiing this for years but that was one of the first VERY overt examples of it. The spread on EU bonds and Greek debt is huge. https://www.zerohedge.com/news/2019-07-24/greek-comedy-10y-ggb-yield-plunges-below-2-first-time-ever
Oil up and has support at this level-not good for expecting lower prices here-see Cap#5. Silver-WOOOOHOOO! suck it JP Morgan and the manipulators-See cap#4.
Part 1/2. sauce and additional news in part 2
Part 2/2
In "watch the water" news we have H20 banning trades with Cantor-Fitzgerald
H2O Bans Trades With Cantor in Tit-for-Tat Over German Financier
The move came one day after Bloomberg reported that Cantor had broadened a four-year old block on dealings with German businessman Lars Windhorst.
Cantor’s blacklist didn’t include H2O, the largest holder of securities issued by Windhorst’s companies. H2O suffered 8 billion euros ($9 billion) of withdrawals over three weeks amid concerns about the liquidity of those holdings.
https://www.bloomberg.com//news/articles/2019-07-24/h2o-bans-trades-with-cantor-in-tit-for-tat-over-german-financier?
recall that Cantor-Fitzgerald was the firm taht was greatly impacted by 9-11 and it lost a good eal of it's people…except Mr Lutnick was not at his desk that day…..
he also said he would "take care" of the families of the lost employee's in a VERY public way, only to pull that offer back shortly afterwards-a douchebag of the HIGHEST caliber
in shut the fuck up stephan schwarzman news a mouthpiece was trotted out to say this
Wall Street is seriously miscalculating the number of Fed rate cuts, Blackstone warns
Blackstone chief investment strategist Joseph Zidle believes it’s time for investors to get cautious.
He predicts the Federal Reserve won’t deliver expected multiple interest rate cuts in the coming months, and the disappointment will cause stocks to drop from their all-time highs.
https://www.cnbc.com/2019/07/24/market-is-seriously-miscalculating-number-of-fed-rate-cuts-blackstone.html
you bitch about lack of fundamental growth yet pour water on Fed cuts…fuck off
if you have a chance please read this as it explains the arbitrage going on with global bonds
Why are Global Yields Sinking?
http://thedisciplinedinvestor.com/blog/2019/07/24/why-are-global-yields-sinking/?
https://finance.yahoo.com/quote/%5EIXIC?p=^IXIC
https://www.kitco.com/charts/livesilver.html
https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx
https://www.dailyfx.com/crude-oil
https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx
MBA: Mortgage Applications Decreased in Latest Weekly Survey
Mortgage applications decreased 1.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 19, 2019.
… The Refinance Index decreased 2 percent from the previous week and was 81 percent higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 2 percent from one week earlier. The un-adjusted Purchase Index decreased 1 percent compared with the previous week and was 6 percent higher than the same week one year ago.
…
“Mortgage applications were down last week, even as rates moved lower across the board, with the 30-year fixed rate at 4.08 percent. Refinance activity was lower, but we did see government refinance applications increase, driven solely by a 12 percent rise in FHA applications,” said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. “Mortgage rates right now are comparable to the average rate of 4.10 percent for June, but refinances last week were 7 percent lower than last month. This is an indication that as we see rates lower for longer, borrowers need more of a drop in rates to consider refinancing.”
Added Kan, “Purchase applications decreased for the second straight week and have been somewhat volatile lately, but were still 6 percent higher than a year ago.”
…
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($484,350 or less) decreased to 4.08 percent from 4.12 percent, with points decreasing to 0.33 from 0.38 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.
The second cap graph shows the refinance index since 1990.
The third cap shows the MBA mortgage purchase index
According to the MBA, purchase activity is up 6% year-over-year.
https://www.calculatedriskblog.com/2019/07/mba-mortgage-applications-decreased-in_24.html
the banks are starving as the Mortgage apps have been steadily decreasing.'
Spreads are also very low….tick…tick.
tick tock baker.
All the activity in the mkts and you are fucking clueless. You are a disgrace