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Trade Idea of the Day Presented by: Wall Street Pit

Broadcom (AVGO) Sees Higher Revenues Ahead ; Stock Gains

Chip vendor Broadcom Limited (NASDAQ:AVGO), a prominent supplier to iPhone maker Apple, Inc (NASDAQ:AAPL), reported fourth quarter non-GAAP EPS of ... The post Broadcom (AVGO) Sees Higher Revenues Ahead ; Stock Gains appeared first on Wall Street Pit. Read More

A New Bubble Emerges: Dollar Index Approaches 14 Year Highs

Over the past 3 years, the dollar is higher vs a basket of major currencies by 21%. According to Factset, about 50% of sales are earned abroad by companies in the S&P 500, compared to just 20% in the Russell. Back in 2015, when the dollar rose by 7% from January through March, the strong dollar wreaked havoc on American multinationals -- dinging earnings by about 11%...

BLS: Job Openings "little changed" in October

The number of job openings was little changed at 5.5 million on the last business day of October, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were also little changed at 5.1 million and 4.9 million, respectively. The number of quits was little changed in October at 3.0 million. The quits rate was 2.1 percent. Over the month, the number of quits was little changed for total private, and decreased for government (-26,000). emphasis added...

Starbucks Unveils Big Growth Plans For Investor Day

The Seattle-based coffee chain hopes to grow revenue by 10%, EPS by 15-20%, and drive mid-single digit comparable store growth each year over the next five years. It plans to achieve those ambitious goals by opening approximately 12,000 new stores around the world by 2021. That massive expansion would bring Starbucks’ total number of locations to 37,000 by 2021. In addition to adding new stores, the company hopes its new upscale Roasteries and Starbucks Reserve concepts can help elevate the Starbucks brand and improve the overall customer experience...

Oil’s Most Popular Trading Products May Soon Be Shut Down

For most retail investors, buying physical crude oil as a commodity is not an option. Instead, many investors turn to exchange traded notes (ETNs) as a way to speculate on changes in oil prices themselves. But direct oil investment products like USO have always been dicey as investment choices. More sophisticated investors with big Wall Street banks who have high speed trading and information advantages can essentially front run products like USO which trade oil contracts on a predictable basis. As a result, USO has been a far from perfect tool to replicate oil’s price movements...

OPEC Is Trying To Get Non-OPEC Nations To Cut Production Now

OPEC invited fourteen country representatives to talks this week, to be held in Vienna, aimed at orchestrating wider cooperation to rebalance the oil market and drive up prices. In total, these countries produce about one-fifth of the world’s crude supply. From Bloomberg: Russia already committed to reduce its output by 300,000 barrels a day following the Organization of Petroleum Exporting Countries’ agreement last week to a production cut of 1.2 million, Secretary-General Mohammad Barkindo said on Monday at the PetroTech conference...

ISM Non-Manufacturing Index increased to 57.2% in November

The November ISM Non-manufacturing index was at 57.2%, up from 54.8% in October. The employment index increased in November to 58.1%, from 53.1%. Note: Above 50 indicates expansion, below 50 contraction. Economic activity in the non-manufacturing sector grew in November for the 82nd consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM® Report On Business®. The report was issued today by Anthony Nieves, CPSM, C.P.M., CFPM, chair of the Institute for Supply Management® (ISM®)...

Rising Volume In This ETF Could Indicate A Stock Pullback Is Coming

Extreme volatility has already hit the bond markets, and it may just be a matter of time before it leaks into equities as well. From Bloomberg: The ProShares Ultra VIX Short-Term Futures exchange-traded fund (UVXY), which uses leverage in an attempt to magnify the daily returns an investor would receive from holding VIX futures, posted record trading volumes in November, surpassing its unleveraged peer in this regard in three of the past four months...

Construction Spending increased in October

Earlier today, the Census Bureau reported that overall construction spending increased in October: The U.S. Census Bureau of the Department of Commerce announced today that construction spending during October 2016 was estimated at a seasonally adjusted annual rate of $1,172.6 billion, 0.5 percent above the revised September estimate of $1,166.5 billion. The October figure is 3.4 percent above the October 2015 estimate of $1,134.4 billion. During the first 10 months of this year, construction spending amounted to $972.2 billion, 4.5 percent above the $930.7 billion for...

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