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Trade Idea of the Day Presented by: Wall Street Pit

Has Apple (AAPL) Stock Finally Bottomed?

The fact the company surpassed analysts' bottom-line estimates for the quarter, could inject some much-needed optimism in Apple (AAPL) stock ... The post Has Apple (AAPL) Stock Finally Bottomed? appeared first on Wall Street Pit. Read More

BLS: Unemployment Rates stable in 43 states in June

Unemployment rates were significantly higher in June in 6 states, lower in 1 state, and stable in 43 states and the District of Columbia, the U.S. Bureau of Labor Statistics reported today. South Dakota and New Hampshire had the lowest jobless rates in June, 2.7 percent and 2.8 percent, respectively. Alaska had the highest unemployment rate, 6.7 percent...

Unexpected Gasoline Inventory Build, Production Rise Spark Crude Chaos

Following last week's surprise Distillates build (and bounce in production) and API's overnight surprise Gasoline build, DOE data this morning was mixed confirming the 2.3mm draw in overall crude inventories (9th weekin a row) but surpringly large builds in both Cushing and Gasoline inventories (expectations were for draws). Oil prices were chaotic - running stops high and low - as algos noted crude production also rose (for the 2nd week in a row)...

Microsoft Misses On GAAP Revenue, EPS; Beats On Non-GAAP After Using Lower Tax Rate; Stock Soars

Over the past few quarters, starting with Warren Buffett's annual letter, and continuing with various WSJ reports that the SEC would crack down on the practice, there had been speculation that non-GAAP adjustments would be phased out. But not yet... because if it wasn't for non-GAAP addbacks, Microsoft would have missed badly on both the top and the bottom line. As the company reported moments ago, its GAAP revenue and EPS were $20.6 billion and $0.39, both far below expectations of $22.1bn and $0.58...

Netflix Plummets As Growth Story Comes To A Halt: Company Says "We Are Not Growing As Fast As We Would Lke"

While NFLX moments ago reported Q2 EPS of $0.09 that beat expectations $0.03, the reasons the stock is plunging after hours is because it appears that Netflix growth story is officially over, and not just because the company guided far lower on international net additions, seeing only 2.00 million, 20% below Wall Street's forecast of 2.54MM, but because as the Company itself admitted, "we are growing, but not as fast as we would like or have been. Disrupting a big market can be bumpy, but the opportunity ahead is...

Key Measures Show Inflation close to 2% in June

The Cleveland Fed released the median CPI and the trimmed-mean CPI this morning: According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.2% (2.2% annualized rate) in June. The 16% trimmed-mean Consumer Price Index also rose 0.2% (1.9% annualized rate) during the month. The median CPI and 16% trimmed-mean CPI are measures of core inflation calculated by the Federal Reserve Bank of Cleveland based on data released in the Bureau of Labor Statistics' (BLS) monthly CPI report. Earlier today, the BLS reported that the seasonally adjusted CPI for all urban consumers rose...

Britain has a new prime minister – here’s what that means for you

Theresa May is set to become the Prime Minister of Great Britain in the next few days. Will the new PM bring a degree of stability back to turbulent markets in a post-Brexit Britain or what does the future hold under a new Conservative leadership. MoneyWeek's John Stepak takes a look at the implications for investors and identifies why financial markets are relieved and considers what might be next for the British Pound...

NFIB: Small Business Optimism Index increased Again in June

The Index of Small Business Optimism rose seven-tenths of a point in June to 94.5 ... according to the National Federation of Independent Business’ (NFIB) monthly economic survey released today. Fifty-six percent reported hiring or trying to hire (unchanged), but 48 percent reported few or no qualified applicants for the positions they were trying to fill. Fifteen percent of owners cited the difficulty of finding qualified workers as their Single Most Important Business Problem and the highest reading in this expansion. Twenty-nine percent of all owners reported job openings they could...

House Prices to National Average Wage Index

One of the metrics we'd like to follow is a ratio of house prices to incomes. Unfortunately most income data is released with a significantly lag, and there are always questions about which income data to use (the average total income is skewed by the income of a few people). And for key measures of house prices - like Case-Shiller and CoreLogic - we have indexes, not actually prices. But we can construct a ratio of the house price indexes to some measure of income. For this graph I decided to look at house prices and the National Average Wage Index from Social Security...

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