Yesterday Walmart reported a $680 million dollar hit to sales because of currency fluctuations. Walmart doesn’t hedge currency risk, doing business in other countries in their local currency and simply converting it back into US dollars when calculating quarterly earnings. For the last decade plus, it was all about companies that were seeing revenue boosts…
Market Trends
This morning’s market reactions to the unexpected jobs number gave me even more conviction that the current capital trends are in place. Gold, bonds and currencies all moved in anticipation of further Fed easing, while stocks did not. For a while now, bad news has been good news for stocks because it has meant continued/more…
Stocks
We’re sitting right under the line in the sand. It will be a good sign if the S&P 500 can break above the last pivot high on June 18th of 1654.19. Today’s high was…1654.18!! The Dow Industrial Average also fell short by 20 points of clearing. Until we clear these levels the short-term correction is…