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Doug Kass’ 15 Surprises For 2018: FANG Crackdown, Gold All-Time-Highs, Stocks Slump

Authored Doug Kass of Seabreeze Partners Management, "The missing step in the standard Keynesian theory [is] the explicit consideration of capitalist finance within a cyclical and speculative context . . . finance sets the pace for the economy. As recovery approaches full employment . . . soothsayers will proclaim that the business cycle has been […]

Asian ‘FANG’ Stocks Suffer Worst Week In History

Representing a major segment of EM stocks, TATS are the Asian 'FANGs', and they just suffered their worst week on record. Taiwan Semi, Alibaba, Tencent, and Samsung are TATS and account for over 16% of the MSCI EM Stock index (considerably more than FANG stocks represent in the S&P). TATS have traded lower for 4 […]

Tech Wreck Hits Asia – TATS Turmoil After FANG Flush

While FANGs cratered in US markets, the turmoil in tech stocks has spread to AsiaPac with Hong Kong down hard as TATS tumble to one-month lows at the open… Asia's "FANG"  equivalent – accounting for 16% of MSCI Emerging Market Stock index is TATS – Taiwan Semi, Alibaba, Tecent, and Samsung… All four names are […]

“Very Close To Irrational Exuberance”: Asian Equities Break Above All-Time High As Hang Seng Clears 30,000

Following the new all-time high in US equities, the MSCI Asia Pacific Index broke through its November 2007 peak to make an all-time high in Wednesday’s trading session. This was something we noted could happen yesterday in “SocGen: Asian Equities Are So Awesome, A China Minsky Moment Is ‘Manageable”. The dollar weakened slightly after outgoing […]

Mueller Subpoena Spooks Dollar, Sends European Stocks, US Futures Lower

Yesterday’s torrid, broad-based rally looked set to continue overnight until early in the Japanese session, when the USD tumbled and dragged down with it the USDJPY, Nikkei, and US futures following a WSJ report that Robert Mueller had issued a subpoena to more than a dozen top Trump administration officials in mid October. And as […]

Futures Jump, Global Stocks Rebound From Longest Losing Streak Of The Year

After five consecutive daily losses on the MSCI world stock index and seven straight falls in Europe, there was finally a bounce, as investors returned to global equity markets in an optimistic mood on Thursday, sending US futures higher after several days of losses as global stocks rebounded following a Chinese commodity-driven rout.  The House […]

Goldman Discovers Something Odd: Stock Moves Are Increasing Even As Index Moves Are Decreasing

One wouldn’t know it by looking at the moves in equity indexes, but this earnings season has been unusually volatile for stocks, which however has yet to translate into bigger moves at the macro level. That is the bizarre observation made by Goldman’s derivatives strategist John Marshall (whose team grew by one when ex-Deutsche Banker […]

Global Stock Meltup Sends Nikkei To 25 Year High

The global risk levitation continues, sending Asian stocks just shy of records, to the highest since November 2007 and Japan’s Nikkei topped 22,750 – a level last seen in 1992 – while European shares and US equity futures were mixed, and the dollar rose across the board, gains accelerating through the European session with EURUSD […]

World Stocks Soar To New Record Highs As Oil, Metals Surge Ahead Of The Fed

US equity futures have hit a new records, helped by surging Asian and European stocks which have all started November on a euphoric note. Surging commodity prices, optimism about tax reform and hope for a new dovish Fed chair all combined to drive global stock markets to record highs on Wednesday, with the MSCI’s world […]

Less Than Meets The Eye To Nasdaq Rally?

Via Dana Lyons' Tumblr, On an equal-weight basis, the Nasdaq 100 just dropped to a relative all-time low. There are many ways to measure the level of participation, i.e., the number of stocks that are taking part, in a stock market rally. One way is to look at the market’s “internals”, e.g., advances vs. declines, […]

Just Five Tech Stocks Add Insane $200 Billion In Market Cap In One Day

The Nasdaq is dramatically outperforming the rest of the major US equity indices today…   In fact this this is the biggest Nasdaq outperformance of the S&P since May 2009… “We saw some weakness in the stocks of tech megacaps recently, not so much because of a concern about mediocre earnings but rather because a […]

Global Stocks Hit Fresh Record High As Dollar Rally Fizzles

It’s deja vu all over again. In a repeat of yesterday’s session, where US equities and the dollar levitated in a one-way trade, Tuesday’s muted session – where in addition to closed China and South Korean markets, Germany’s Dax is also shut for holiday – has seen early dollar and European equity strength, while the […]

Global Stocks Storm To New Record High Ahead Of Historic Fed Announcement

Last week’s bullish sentiment that sent the S&P not only to a new all time highs, but a burst of last-second buying pushed above 2,500 for the first time ever, has carried through to the new week, with European and Asian shares rallying across the board, US futures again the green, and world stocks hitting […]

Gold Pops, Stocks Drop As Futures Open After Korean Chaos

In an echo of last week's move following North Korea's teating of missiles across Japan's territory, futures markets are opening in a decidedly risk-off mannwr following North Korea's "hydrogen bomb" test. Dow Futs down 100 points, Gold jumping and Treasury bonds bid…   All major US equity indices are down…   Gold is back above […]