David's Feed
Apr 22, 2015
via Morning Bid with David Gaffen

Liquidity in a dry spell

The market finds itself in something of a standstill. It’s been a long time since the S&P 500 hit a new high and the Nasdaq has been knocking on the door of its all-time record for months now. It’s fair to characterize the trade as “directionless,” with the most notable feature of the weekly data from the AAII surveys being how big the neutral sentiment is (insert “shrug” emoji here).

This situation is likely to persist. The market will see scores of earnings results in the next few days, from Altera to 3M to Amazon and everything else that isn’t at the beginning of the alphabet. Earnings so far have brought a number of disappointments and signs of slowing sales thanks to weak-sauce global demand (DuPont for example). Companies that can’t seem to get out of their own way (IBM and Yahoo), a few that look shaky (McDonald’s), and others that remain robust on a number of levels (Broadcom, Kimberly-Clark and Amgen).

Apr 19, 2015

Insight – For short-sellers in U.S. stocks, the agony just piles on

NEW YORK (Reuters) – In January 2014, veteran short-seller Bill Fleckenstein said he was readying a new fund to bet on falling stock prices. More than a year later, he’s still waiting to launch that fund.

Despite lacklustre U.S. economic data, a world grappling with slow growth, concern that Greece and Ukraine could default on their debts, the U.S. stock market has been more than resilient. Even after a selloff on Friday, major indices are less than two percent from all-time highs and volatility measurements have been close to their lowest levels for 2015.

Apr 19, 2015

For short-sellers in U.S. stocks, the agony just piles on

NEW YORK, April 19 (Reuters) – In January 2014, veteran
short-seller Bill Fleckenstein said he was readying a new fund
to bet on falling stock prices. More than a year later, he’s
still waiting to launch that fund.

Despite lackluster U.S. economic data, a world grappling
with slow growth, concern that Greece and Ukraine could default
on their debts, the U.S. stock market has been more than
resilient. Even after a selloff on Friday, major indices are
less than two percent from all-time highs and volatility
measurements have been close to their lowest levels for 2015.

Apr 17, 2015
via Morning Bid with David Gaffen

Sovereign Sensitivity

The markets come in to the day’s trading with futures down dramatically, with people worrying less about earnings and more about what’s happening overseas.

Fears that Greece will end up exiting the euro has driven shares lower and driven bond prices higher in what is a classic safety trade. Add to that the outage in Bloomberg terminals and that’s another wrinkle that’s made things a little bumpy this morning as well.

Apr 17, 2015
via Morning Bid with David Gaffen

Sovereign sensitivity

The markets come in to the day’s trading with futures down dramatically, with people worrying less about earnings and more about what’s happening overseas.

Fears that Greece will end up exiting the euro has driven shares lower and driven bond prices higher in what is a classic safety trade. Add to that the outage in Bloomberg terminals and that’s another wrinkle that’s made things a little bumpy this morning as well.

Apr 16, 2015

Wall Street gains on earnings, oil surges

NEW YORK (Reuters) – U.S. stocks rallied following several strong earnings reports on Wednesday, while European shares hit a 14-year high after the European Central Bank affirmed its loose policy stance.

Oil rose sharply after U.S. government data showed crude oil inventories rose less than expected last week.

Apr 15, 2015

Wall St up on earnings, oil surges

NEW YORK, April 15 (Reuters) – U.S. stocks rallied
following several strong earnings reports on Wednesday, while
European shares hit a 14-year high after the European Central
Bank affirmed its loose policy stance.

Oil rose sharply after U.S. government data showed crude oil
inventories rose less than expected last week.

Apr 15, 2015

Europe shares rally on ECB; Wall St up on earnings

NEW YORK (Reuters) – European shares hit a 14-year high and the euro fell on Wednesday after the European Central Bank affirmed its loose policy stance, while U.S. stocks rallied after several strong earnings reports.

Weak data out of China bolstered expectations of additional monetary stimulus that would likely help risk assets such as equities.

Apr 15, 2015

Europe rallies on ECB; Wall St. up on earnings

NEW YORK (Reuters) – European shares hit a 14-year high and the euro fell on Wednesday after the European Central Bank affirmed its loose policy stance, while U.S. stocks rallied after several strong earnings reports.

Weak data out of China bolstered expectations of additional monetary stimulus that would likely help risk assets such as equities.

Apr 15, 2015
via Morning Bid with David Gaffen

MORNING BID – Stock-Market Daredevil

Whatever Netflix ends up reporting after the close, it’s likely to provoke some kind of market reaction, judging by recent moves in the shares after it has reported results. In its most recent quarter, Netflix beat expectations handily and saw its shares rise 32 percent in the seven days that followed. The quarter before was a modest disappointment and the stock tumbled 18.5 percent in the following seven days.

Overall, the company has exceeded results in six of the last eight quarters and continues to show ongoing growth that may accelerate as the company becomes even more embedded as a cog in the perpetual-motion-machine that is Marvel Entertainment; it has the “Daredevil” series that just dropped, to be followed by three others and a release schedule that probably extends into 2044 by now.

    • About David

      "David Gaffen oversees the U.S. markets team, having joined Reuters in May 2009. He spent four years at the Wall Street Journal, where he was the original writer of the web site's MarketBeat blog. He is a frequent guest on Reuters TV, and has appeared on CNN International, Fox Business, NPR, and assorted other media and is the author of the book "Never Buy Another Stock Again.""
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