The Only Thing That Glitters is Gold 2/9/16

Japan’s Nikkei dropped 5.4% last night, as the dollar dipped to a November 2014 low against the yen, and yields on Japan’s 10-year bond went negative for the first time ever. China markets remained closed for the Lunar New Year holiday. (CNBC) Coca-Cola’s global soda volume rose 2% in the fourth quarter, even though Diet…

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Gold Jumps Oil Dumps 2/8/16

Last week Berkshire Hathaway bought Precision Castparts. Now three Precision Castparts leaders, including CEO Mark Donegan, Corporate Counsel Ruth Beyer and CFO Shawn Hagel have been appointed to Warren Buffets Board of Directors. (Omaha World Herald) Hasbro posted its biggest jump in quarterly revenue in nearly five years driven by demand for Star Wars and…

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Another Good Jobs Number 2/5/16

It is jobs Friday and the Department of Labor says the economy added 151,000 jobs in January. The private sector added 158,000 jobs, government shed 7000.  The unemployment rate dipped to 4.9%, the lowest level since February 2008. Wages increased 0.5%.  All those are pretty good numbers. The dollar index has been getting weaker the…

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Oil Causes Job Pain 2/4/16

Oil giant Royal Dutch Shell saw a steep decline in profits as lower crude prices continue to inflict pain on major oil companies. Fourth-quarter 2015 profits were down 56% to $1.8 billion.  Revenue on an annual basis, was the lowest in 13 years, falling 87%. Shell, is cutting some 10,000 jobs and contractor positions this…

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Gold Continues to Rally – 2/3/16

Mortgage applications fell last week by 2.6% as snow covered much of the East Coast. Applications to refinance rose 0.3%, but are down 31.5% from a year ago. Applications to purchase a home fell 7% from a week earlier but are 17% higher than a year ago. (Mortgage Bankers Association) Job growth in the private…

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As Oil Goes So Goes Stocks 2/2/16

It is Ground Hog Day and the market like the movie is the same thing over and over. As go the price of oil so goes stocks.  This morning that is down. The US consumer is not doing too bad.  Consumer spending was unchanged in December after rising 0.5% in November. Consumer spending increased 3.4%…

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