Mario Draghi does not disappoint in his reiteration of ECB sovereign bond-buying plan. September retail sales come in at expectations. First time unemployment claims come in slightly under the analysts’ line. Foreclosures drop slightly in September. Planned layoffs for September hit a 15-year low, but rose over August. Nothing great, but nothing bad either perhaps explains the market feeling good this morning. Yet, we have been seeing this story recently. Along about midday or so, fatigue sets in and everybody goes home early. We will see …
- Hello Ed. Because earnings per share is such an important determining factor for valuation, can you direct me to a site that has historical charts and info for the S&P 500 earnings per share as an index.
Right on, friend. Let’s all get down to doing our work, and yes, here is one for you.
http://ycharts.com/indicators/sp_500_eps
More quiet but good news out of Europe arrived here yesterday. On the surface, the news might seem uneventful, but one key to reigniting the EU economy is lending. Many banks have resisted lending because of the dangerous economic environment. Just as we have seen here in the US that fear does begin dissipating as banks feel stronger and more confident about the economic frame. So, any move forward in protecting the banks that does not impinge upon lending is sure-fire good sign.
- Europe’s banks have raised an extra EUR205 billion ($265 billion) in fresh capital since December in a bid to meet new rules aimed at strengthening the ailing sector … Market-watchers had feared that to raise the money requested by the EBA, banks would have been forced to rein in on lending to businesses and households, hurting economic growth. However, in its report, the EBA said the banks’ efforts to raise the cash had not changed lending activity.
Europe still has some rough seas ahead of it, but by all signs, the political players have maneuvered the massive ship to avoid crashing on the rocks. If this is so, and I believe it is so, aside from a rogue wave here and there, the EU ship will soon begin a laborious course correction that will bring it to the shores of economic growth once again. My advice, for what it is worth? Find a port of call, check out the best spots, carefully gather your wares, and then set up shop, as the EU ship will be coming in eventually and you want to be there ready to go when it arrives …
- Shops in Tehran’s Grand Bazaar stayed shut and police patrolled the area on Thursday as authorities struggled to restore normalcy a day after security forces clashed with anti-government protesters angered by the collapse of the currency.
It appears the almost global sanctions on Iran are working as planned. Although this is good news for the whole nuclear bomb issue, it is also good news the rising tensions there have not, remarkably, driven oil prices through the roof. Yet, let’s not get hasty about the problems in the Middle East not driving the price of oil through the roof. Syria and Turkey are now going at it.
Trade in the day; Invest in your life …
