After an almost decade-long fight in federal court, consumer lawyers will ask a jury in Oakland, California, today to find Apple violated antitrust laws by locking customers into iTunes and owes more than $1 billion in damages.
One possible indicator of secular stagnation is credit intensity -- that is, how many dollars of new credit are associated with each added dollar of gross domestic product. The higher the ratio, the more likely it is that the amount of credit being created is more than the underlying economy can bear.
Last week March 2014 coffee opened at $106.50, and after a rocket ride up on Tuesday closed the week at $115.25. What gave bulls the shot in the arm to do this? News last week was there could be a near-term squeeze in Robusta supply.
This past Thanksgiving trading week, the December 2013 E-mini S&P 500 opened at 1802 and closed at 1804. We could be seeing an early month correction along with end of the year profit-taking. December is the second best month for equity returns averaging an estimated 1.5%.
Last week the Dec. E-mini S&P 500 opened at 1767.00 and closed the week making new highs along the way at 1793.50. No close yet above 1800. Now I agree that PE ratios do look goods, so why does it seem that tapering talk spooks the market, or does it?
With all of the hot air floating around Washington, D.C., we saw natural gas drop from $3.800 MMBtu in mid-September to test the waters below $3.500 for one day, Sept. 26. Last week November natural gas opened at $3.755 and closed the week at $3.589.
On the horizon, a FOMC is coming, actually next week on Sept. 17 and 18. Will we see tapering? Will we see a hawkish Fed or a dovish Fed? To prepare the U.S. dollar for a hawkish Fed or even tapering, the U.S. dollar needs to drop.