Last night McDonald’s announced a change at the top replacing CEO Don Thompson with Steve Easterbrook. This move while not unexpected was surprising in the timing, a mere three days after their earnings announcement.
The mix of the Fed commentary yesterday with dovish RBA comments are sending the Aussie Dollar to fresh multi-year lows and a view of the 10yr support. The ultimate commodity currency must address the realities of weaker policy and embrace what the market is doing for it.
After missing on revenues Alibaba (BABA, quote) is taking a beating that comes when expectations are high. But is the multiple? At current pricing on E’16 BABA trades around 25X EBITDA or a major discount to Amazon.
Alibaba reports BMO tomorrow and is down 3% today on claims that the government regulator is concerned with fraud and oversight. Buy the dip?
Goldman Sachs says $40 oil first half of the year but $65 to $70 in the second half of the year and this story is catching some headlines.
China’s final GDP results came in better the expected at 7.3% q/y last week and USB is looking for China to continue at a pace of 6.8% for 2015. UBS went on to say it expects further China policy measures will help the county’s sluggish economy.
Last week I said on Fast Money that the way to play the Swiss National Banks letting the Euro peg go was to BUY EUROPE, but hedge the currency.
The spot price of crude oil pushed higher in the news of Saudia Arabia King Abdullah’s passing. The bulls are speculating on a shift in Saudia Arabia’s policy of letting crude prices to fall.
Emerging Money Daily Audio Preview Call – January 22 – On the call today how rare in life how something with such high expectations delivers – The ECB did that today!