Saturday, October 22, 2016

Today's Headlines

Bloomberg:
  • Week of Earnings Beats Can’t Jolt U.S. Stocks From 30-Day Rut. U.S. corporations are reporting annual profit growth for the first time in six quarters, but investors don’t seem too excited about it. The 116 companies in the S&P 500 Index that have reported third-quarter results grew profits by an average 3.8 percent over the past year, according to data compiled by Bloomberg. Analysts now expect year-over-year profit will be flat once the June-to-September reporting is finished, likely bringing an end to the longest earnings recession since the financial crisis. The benchmark for American equity barely budged in the week, finishing 0.4 percent higher at 2,141.16, as it careened within a rut it’s carved over the past month.
  • Russia’s Rising Oil-Output Forecasts Give Leverage in OPEC Talks. As Russia gets ready for talks on cooperation with OPEC on Monday, it’s using the playbooks of Iran, Iraq and Venezuela to gain leverage. Just days before Energy Minister Alexander Novak heads to Vienna for discussions that could include output curbs, Russian officials emphasized the nation’s ability to keep increasing record output to even loftier heights. They were echoing several other OPEC member that claim the group is underestimating their own production -- a strategy that could secure them advantageous terms in any supply deal.
  • Why Corporate America’s Debt Is a ‘Major Risk’. Things may be all right for now, but the future doesn’t look bright.
  • Fed’s Williams Sees a Rate Hike This Year and a ‘Few’ in 2017. Federal Reserve Bank of San Francisco President John Williams said he’d support one interest-rate increase in 2016 and a few more next year, though he added that he’d be unperturbed if inflation rose above the Fed’s 2 percent goal. “The U.S. economy is well-positioned to raise interest rates,” Williams told reporters in San Francisco on Friday. Having “a rate increase this year makes sense, having a few rate increases next year makes sense, in the context of how the economy has been performing and continues to perform.”
  • 50 Companies to Watch in 2017.
Barron's:
  • Had bullish commentary on (HRI), (UHAL), (AGN), (AMAT), (NXPI), (CLS), (NOMD) and (MSCC).
Fox News:
Zero Hedge:

No comments: