Prices for copper have fallen to levels not seen since April of 2009. Weakness in copper is a bad sign for the economy, as it is a vital ingredient in so many different areas of industry. Analysts call the metal "Dr. Copper" because, as the saying goes, it has a Ph.D. in economics. Movements in copper prices often lead GDP growth. Needless to say, the recent price movements in copper are worrying. … [Read more...]
How High Can Interest Rates Go?
The Fed released the minutes from its latest policy meeting on Wednesday. The minutes are usually a snooze-fest. They tell the public about the economic outlook of Fed staff economists and the policy makers who set interest rates. Fed minutes make SEC company filings read like a Tom Clancy novel. You have to be seriously caffeinated to get them without inadvertently dozing off. I’m talking Starbucks red-eye caffeinated here—Folgers won’t cut it. When the minutes were released this week, the stock market immediately rallied. The initial press reports were confused. Some reports attributed … [Read more...]
The Monday Melee: Dividends Break Records
Third Quarter Dividend Explosion CNBC reports that dividend growth hit a new quarterly record of 23.4% in the third quarter. A wobbly third-quarter stock market didn't stop companies from shelling out cash to shareholders, with U.S. investors getting the bulk of the benefits. American companies issued a staggering $107.9 billion in dividends for the three-month period, a 23.4 percent quarterly increase that "comfortably" set a new record," according to data released Tuesday by Henderson Global Investors. How to Choose a Dividend Stock Spreading the Wealth Reuters reports … [Read more...]
Is this the End of Cash?
The Wall Street Journal reports that "Apple Inc. is in discussions with U.S. banks to develop a payment service that would let users zap money to one another from their phones rather than relying on cash or checks, according to people familiar with the matter." … [Read more...]
The Monday Melee: The 7 Fastest Growing Restaurant Chains
It seems every time you turn around there's a new restaurant chain popping up offering burgers, shakes, burritos and every other kind of food you can imagine. Here are the seven fastest growing chain restaurants as compiled by Restaurant Business Online: Rank Chain name Systemwide Sales % Change in Sales Average Unit Volume Total Units 1 Pieology Pizzeria $44,600,000* 230.4 $1,600,000* 42 2 Blaze Pizza $33,000,000 230.0 $1,500,000 50 3 Smallcakes A Cupcakery $38,700,000* 133.1 $600,000* 88 4 Nékter Juice … [Read more...]
The Monday Melee: The Cost of a Hurricane
The costs of disaster can be massive. Economies can be crippled by hurricanes, typhoons, earthquakes and tidal waves. Mexico narrowly avoided a massive catastrophe by Hurricane Patricia by competently utilizing disaster planning and evacuation. Act of God: The Cost of Disaster The Costliest Year of Natural Disasters: 2011 Patricia : Strongest Landfalling Pacific Hurricane on Record Speaking of Worst Hurricanes: This Saturday, the Miami Hurricanes suffered the worst loss in school history. They lost to Clemson: 58-0. … [Read more...]
The Monday Melee: China’s Unbelievable Growth
China released GDP numbers on Monday and despite claims of a deceleration in the Chinese economy, the official statistical bureau reported that growth was 6.8%, very near the target of 6.9%. "We Don't Believe Them" Danny Gabay of Fathom Consulting, and formerly of the Bank of England, told BBC Radio 4 that "Quite frankly we don't believe them. It's not just that they come in suspiciously close to the target, it's that they're produced remarkably quickly and rarely revised." (Businessinsider.com) Corporate Earnings Fears Corporations have flashing warning signals about China since at least … [Read more...]
Manufacturing Recession?
The latest readings on the health of the U.S. manufacturing sector came out this morning and they don’t paint a pretty picture. Industrial production has fallen in 8 of the last 9 months, and the year-to-year rate of change is now flirting with contraction. Manufacturing accounts for a much smaller share of the U.S. economy than it did in decades past, but it isn’t yet small enough to ignore. Stay tuned here. … [Read more...]
The Monday Melee: Merger Mania
Mega Deals Dominating headlines today have been the merger of Dell and EMC, and the long, slow courtship of AB Inbev and SABMiller that looks like it might be close to a resolution. M&A Trends … [Read more...]
Germany Stumbles
Today Germany reported disappointing numbers for August industrial production, following yesterday’s report for new orders which also lacked encouragement. The reports may signal a slowdown in Europe’s largest economy. Perhaps unsurprisingly, in light of the disappointing numbers, Bloomberg is already identifying further stimulus as a cure for what ails the continent. Further extraordinary stimulus by the European Central Bank could also prove a boon if it pushes down the euro, making German products more competitive. The Frankfurt-based central bank will publish the account of its … [Read more...]
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