Salient to Investors: 73 percent of the 237 S&P 500 index members so far reporting have beaten earnings estimates, 56 percent missed on revenue estimates. 24 of 40 economists expect the ECB to cut its benchmark interest rate by 0.25 percent to 0.5 percent next week. Greg Woodard at Manning & Napier said the market is looking
READ MORE... →Salient to Investors: Calpers market value exceeds the high set before the global financial crisis wiped out more than a third of its wealth, but is is still short $87 billion, or 26 percent, of meeting its long-term commitments. Calpers has half of its money in equities, and returned 13 percent
READ MORE... →Salient to Investors: Tomomi Yamashita at Shinkin Asset Mgmt said earnings overall are not bad, but some share prices got way ahead of themselves triggering profit taking, while tech is a hard spot and needs to do more capital investment but are waiting for an improvement in the economy. The Topix
READ MORE... →Salient to Investors: Americans are facing a retirement crisis. Half say they can’t afford to save for retirement, while one-third say they have no retirement funds. Brooks Hamilton says you will need 10 to 15 times your income at retirement to be OK, which means you have to save more, and get
READ MORE... →Salient to Investors: JPMorgan Chase said that from June 2010 through 2012, the positive correlation between developed and emerging- market equities daily performance was 89.6 percent, but in 2013 there is a negative correlation of 60.3 percent as emerging-market stocks slumped. Andres Garcia-Amaya at JPMorgan said emerging markets could continue to
READ MORE... →Salient to Investors: Alan Higgins at Coutts expects another 7 to 10 percent on equities worldwide in 2013. Greg Fuzesi at JPMorgan said today’s PMI makes an ECB rate cut more likely, and expects one in June. Read the full article at http://www.bloomberg.com/news/2013-04-23/european-stock-futures-rise-stmicro-michelin-may-move.html. Click here to receive free and immediate email alerts of the
READ MORE... →Salient to Investors: Michael Purves at Weeden said the markets are starting to process softening economic news and a correction. 72 percent of the 111 S&P 500 companies so far reporting have beaten earnings estimates. Thomas Nyheim at Christiana Trust said housing is showing modest improvement. William C. Dudley at
READ MORE... →Salient to Investors: American companies are the 5 biggest in the world for the first time since the end of 2004 – Exxon , Apple, Google, Berkshire Hathaway, and Wal-Mart . PetroChina, which was one of 3 Chinese stocks in the top 5 last year, has slipped to No. 6. 26 of the world’s
READ MORE... →Salient to Investors: Michael Franzese at ED&F Man Capital Markets said stocks are falling because everyone seems to see panic in the central banks when people thought there would be growth – a reversal of the beginning of the year when people thought higher rates were on the horizon, but there
READ MORE... →Salient to Investors: Kevin Caron at Stifel Nicolaus cites the slowing down in earnings improvement, so stocks need to pause as investors recognize that estimates are too high, or we need genuine economic improvement to justify stock valuations. 69 percent of the 55 S&P 500 stocks so far reporting have
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