U.S. Economic News

U.S. Job Openings Rise during November 2016

January 10, 2017

The U.S. Department of Labor reported today that the number of job openings at U.S. companies rose, on a seasonally-adjusted basis, by 71,000 during November 2016, the latest month for which data are available, as compared to the same month a year ago.

That announcement follows a report issued by the Labor Department on January 6 showing that 158,000 new non-farm jobs were created in the United States ... continue reading >

 
US Job Openings
International Economic News

Japan’s EcoWatchers’ Index and Eurozone Industrial Production Rise Sharply

January 12, 2017

Japan's Cabinet Office reported today that its EcoWatchers Expectations Index, which is based on monthly surveys of approximately 2,000 service-sector employees and small business owners throughout Japan, rose for the sixth consecutive month during December and to the highest level since July 2015.

Separately, Eurostat reported that industrial production at Eurozone factories, mines and utilities rose during November 2016, the latest month for which data are available, at the fastest year-over-year rate since August 2011.

Meanwhile, India’s Ministry of Statistics reported that industrial production in India rose during November at the fastest year-over-year pace since August 2015.

The economic developments mentioned above indicate clearly that economic conditions in the Eurozone, Japan and India continued to improve over the past few months, and they suggest that the pace of economic growth in those regions will accelerate during the months ahead.

 
Earnings News

JPMorgan’s and Bank of America’s Q4 2016 Earnings Rise Sharply, Wells Fargo’s Earnings Decline

January 13, 2017

JPMorgan Chaise (JPM) reported today that its net income rose by 23.8% (or 29.5% per diluted share) on a 2.1% increase in the company’s revenues for the three months ended December 31, 2016, as compared to the same period a year ago.

Bank of America (BAC) reported that its net income rose by 43.0% (or 48.1% per diluted share) on a 2.1% increase in the company’s revenues for the quarter ended December 31, 2016, as compared to the same period a year ago.

In contrast, Wells Fargo (WFC) reported that its net income declined by 5.4% (or 4.0% per diluted share) on no change in the company’s revenues for the three months ended December 31, 2016, as compared to the same period a year ago.

Click Here for Calendar Q3 Earnings Tables

Geopolitical News

Russian Ambassador to Turkey Killed by Islamic Terrorist in Ankara

December 19, 2016

The Russian ambassador to Ankara was killed today by an Islamic terrorist who shouted “Allahu Akbar” – “God is Great” – when he fired at least eight shots from a pistol at the ambassador, according to Russian news agency RIA Novosti.
 
Trading Action

Stocks Likely to Trade Sideways during the Week Ahead

December 18, 2016 (Updated every Sunday)

The trading action in the U.S. stock market over the past two weeks suggests that U.S. stock prices, in general, will move in a narrow sideways pattern during the week of December 19-23 and then pull back modestly during the following week. However, ... continue reading >
Company News
January 12, 2017
  • Amazon (AMZN): Amazon.com announced today that it plans to create more than 100,000 new, full-time jobs in the United States over the next 18 months.

  • JetBlue (JBLU): JetBlue Airways Corporation reported today that its revenue passenger miles rose by 4.5% during December, as compared to the same month a year ago.

  • CVS (CVS): CVS Health Corp. announced today that it is offering a low-cost version of Mylan’s EpiPen, an emergency treatment for allergies. Specifically, the pharmacy company reported that it will charge $109.99 for a two-pack generic version of the drug Adrenaclick. In comparison, Mylan charges approximately $650 for its EpiPen allergy treatment.

  • Hess Corp. (HES): Hess Corporation announced today that it has experienced positive results from its offshore Payara-1 well near its world-class Liza Field in Guyana. Separately, the company provided details on its 2017 exploration and development budget, stating that its budget will increase by 18% during 2017 and that it expects the company’s production of petroleum products to rise by 8%-12%, as compared to 2016. Additionally, the company reported that it will record a $3.8 billion non-cash charge to establish valuation allowances against net deferred tax assets, an after-tax charge of approximately $700 million to fully impair the carrying value of its interests in Equus, and a $140 million after-tax charges for rig exit costs, loss on debt extinguishment, impairment of rail cars, severance and other charges for the quarter ended December 31, 2016.

U.S. Household Debt Rises during November 2016

01/09/17: Data issued today by the Federal Reserve indicate that Americans took on more debt during November 2016, the latest month for which data are available, with the Fed reporting that the total amount of U.S. consumer credit outstanding rose, on a seasonally-adjusted basis, by 6.3% during November, as compared to the same month a year ago.

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Non-farm Payrolls Increase by Only 158,000 during December

01/06/17: The U.S. Department of Labor reported today that, on a seasonally-adjusted basis, only 158,000 new non-farm jobs were created in the U.S. economy during December, down from 204,000 during the prior month.

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