Global mkts continue the celebration as the holiday shortened week kicks off. Asian mkts all higher - Nikkei +0.08%, Hong Kong +1.26%, China +0.61% and ASX +1.94%. In Europe - all mkts registering gains as the day begins....FTSE +0.8%, CAC 40 + 0.94%, DAX +0.86%, EUROSTOXX +0.85%, SPAIN +0.38% and ITALY +0.75%.
US Futures are + 5 in early trading - the path of least resistance is now higher.....the negative news is out of the way for now - so expect the mkt to churn in line or a bit higher and to test the highs of - 2079 ish - any move above will surely send the algo's into overdrive as they attempt to tease another century mark - 2100.
Oil finding some stability as it attempts to move a bit higher...the Saudi's blaming NON - OPEC countries for the oil rout defending their position to continue to produce and pump oil. They specifically highlighted the American Shale Oil producers as a 'particular problem' for the price of oil....but some see opportunity.....
- Barron's features the cover story
"FIVE OIL STOCKS TO BUY NOW"
- with oil down some 47% , lots of pain across the industry - but some of the big integrated names with big dividend payouts now look more
appealing.....CVX, SLB, XOM, OXY, EOG and RDS - expect to see a fair amount of action across the board in energy - but these names in particular will surely benefit from this headline article. All beginning to trade higher in early pre-mkt trading.
Friday's action was dominated by option expiry and index rebalances - but last week's strength was largely attributed to the Fed's monetary policy statement last week. The large gains on Wednesday and Thursday reclaimed the losses from the prior week. The S&P is now up 12%, the DOW +7.5% and the Nasdaq is up 14%. The Russell small cap index - although very volatile this year is essentially unchanged ytd - up a mere 1.7%
Adding to the momentum are some money managers who are playing catch up..... - managers who are trailing the indexes - put money to work to try and boost their performance going into year end. It's all about the window dressing taking place in the next 9 trading days.
This week will detail some macro data - but unless there is a real outlier - do not expect any of the data to create a lot of commotion. Today we get Existing Home sales - exp are for a slight decline 1.1%. Tomorrow will feature Durable Goods of +3%, Ex transports of +1%, Cap Goods Non Defense of 1%, Final Revision to 3rd qtr GDP of 4.3% - with some estimates as high as +4.7%. Personal Income of +0.5% and Pers Spending of +0.5%. Wednesday is a half day - trading to close at 1 pm. Mkts closed on Thursday and will resume trading on Friday.
On a side note - Another one bites the dust.......
News out that Citibank is exiting the ECN Business - as regulation heats up on dark pools - but it also reflects the fact that the US capital mkts are in disarray. Today's stock mkt is anything BUT a mkt...
By definition- a mkt is a PUBLIC gathering place for buying and selling products. A place that aggregates buyers and sellers so that the information is readily available to anyone that requests it.
Today's mkt is anything but that public mktplace and after years of regulators trying to FIX something that was not broken - we find is that the 'new rules', ridiculous trading increments, hidden venues, nano-pico-microsecond access and execution, casino like HFT - to just name a few of the problems have all left us with a disaggregated, fractured mktplace - one that is frustrating, illiquid and non transparent. One that has ripped the guts out of what is supposed to be the strongest, deepest and most liquid mktplace in the world.
This goes hand and hand with the story last week about how ICE (Intercontinental Exchange) is re-arranging the deck chairs as they try to bring sense and sensibility back to the public mkts.
Have we finally recognized that the pendulum has swung way too far to the left and needs to come back to the middle? Look for 2015 to be that year of change
Preheat oven to 375 degrees.
Crust -
1 1/4 cup flour, 1 1/4 tsp of baking powder, 1/4 c sugar, 1 stick of melted butter, 1 beaten egg, 1 tsp vanilla.
Put all ingredients into a deep dish pie plate and mix directly with a fork. Once formed - using the back of a tablespoon - gently spread it out into the plate and up the edges.
Filling:
16 oz of cream cheese, 2 beaten eggs, 1 c sugar, 1 tblspn flour, 1 1/4 c whole milk, 1 tsp vanilla
Combine all ingredients into a blender and mix well. Now pour the mixture directly into the crust - sprinkle with cinnamon and place in the middle rack in oven. Bake for 35 mins...Remove - it will appear shaky...no need to worry....as it cools it becomes solid and creamy. Refrigerate and when ready serve just plain or with any fruit topping you like.
Buon Appetito.
US Futures are + 5 in early trading - the path of least resistance is now higher.....the negative news is out of the way for now - so expect the mkt to churn in line or a bit higher and to test the highs of - 2079 ish - any move above will surely send the algo's into overdrive as they attempt to tease another century mark - 2100.
Oil finding some stability as it attempts to move a bit higher...the Saudi's blaming NON - OPEC countries for the oil rout defending their position to continue to produce and pump oil. They specifically highlighted the American Shale Oil producers as a 'particular problem' for the price of oil....but some see opportunity.....
- Barron's features the cover story
"FIVE OIL STOCKS TO BUY NOW"
- with oil down some 47% , lots of pain across the industry - but some of the big integrated names with big dividend payouts now look more
appealing.....CVX, SLB, XOM, OXY, EOG and RDS - expect to see a fair amount of action across the board in energy - but these names in particular will surely benefit from this headline article. All beginning to trade higher in early pre-mkt trading.
Friday's action was dominated by option expiry and index rebalances - but last week's strength was largely attributed to the Fed's monetary policy statement last week. The large gains on Wednesday and Thursday reclaimed the losses from the prior week. The S&P is now up 12%, the DOW +7.5% and the Nasdaq is up 14%. The Russell small cap index - although very volatile this year is essentially unchanged ytd - up a mere 1.7%
Adding to the momentum are some money managers who are playing catch up..... - managers who are trailing the indexes - put money to work to try and boost their performance going into year end. It's all about the window dressing taking place in the next 9 trading days.
This week will detail some macro data - but unless there is a real outlier - do not expect any of the data to create a lot of commotion. Today we get Existing Home sales - exp are for a slight decline 1.1%. Tomorrow will feature Durable Goods of +3%, Ex transports of +1%, Cap Goods Non Defense of 1%, Final Revision to 3rd qtr GDP of 4.3% - with some estimates as high as +4.7%. Personal Income of +0.5% and Pers Spending of +0.5%. Wednesday is a half day - trading to close at 1 pm. Mkts closed on Thursday and will resume trading on Friday.
On a side note - Another one bites the dust.......
News out that Citibank is exiting the ECN Business - as regulation heats up on dark pools - but it also reflects the fact that the US capital mkts are in disarray. Today's stock mkt is anything BUT a mkt...
By definition- a mkt is a PUBLIC gathering place for buying and selling products. A place that aggregates buyers and sellers so that the information is readily available to anyone that requests it.
Today's mkt is anything but that public mktplace and after years of regulators trying to FIX something that was not broken - we find is that the 'new rules', ridiculous trading increments, hidden venues, nano-pico-microsecond access and execution, casino like HFT - to just name a few of the problems have all left us with a disaggregated, fractured mktplace - one that is frustrating, illiquid and non transparent. One that has ripped the guts out of what is supposed to be the strongest, deepest and most liquid mktplace in the world.
This goes hand and hand with the story last week about how ICE (Intercontinental Exchange) is re-arranging the deck chairs as they try to bring sense and sensibility back to the public mkts.
Have we finally recognized that the pendulum has swung way too far to the left and needs to come back to the middle? Look for 2015 to be that year of change
Creamy Cheesecake
Here is another favorite, easy to make dessert for the holiday's. This recipe once again reminds me of my Grandmother - It will bring a smile to your face will quickly become a staple on your desert table along with the Italian pastries – cannoli’s, Profiteroles, sfogliatella, parigini, pasticiotto…..Preheat oven to 375 degrees.
Crust -
1 1/4 cup flour, 1 1/4 tsp of baking powder, 1/4 c sugar, 1 stick of melted butter, 1 beaten egg, 1 tsp vanilla.
Put all ingredients into a deep dish pie plate and mix directly with a fork. Once formed - using the back of a tablespoon - gently spread it out into the plate and up the edges.
Filling:
16 oz of cream cheese, 2 beaten eggs, 1 c sugar, 1 tblspn flour, 1 1/4 c whole milk, 1 tsp vanilla
Combine all ingredients into a blender and mix well. Now pour the mixture directly into the crust - sprinkle with cinnamon and place in the middle rack in oven. Bake for 35 mins...Remove - it will appear shaky...no need to worry....as it cools it becomes solid and creamy. Refrigerate and when ready serve just plain or with any fruit topping you like.
Buon Appetito.
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