Emerging markets are down about 90 basis points in line with the sentiment on China. China sentiment deteriorated rapidly over the weekend sending the Shanghai below the sentimental levels of 2000. Tune in as I review the Yuan, commodities and economic data. Find out how we are trading the emerging markets.
Impact on Starbucks? Reminding what we said a couple weeks back when this spike was catching attention.
Look at the attached chart and you can see that the Chinese manufacturing PMI despite an attempt by market watchers to try and paint a hurrendous picture, has been trading in the current channel for almosty 3.5 years.
Good evening this Monday February 24. Emerging markets ended the day higher. Tune in to find out how I’m playing the EM vs. DM and commodities.
Chart of the Day? Commodities at 1 year high without China strength and with concerns about the weather stifling demand
BHP Billiton is the grand-daddy of the miners: largest, best balance sheet, and most diversified. Last night they reported earnings that beat by 12% and added a handful of goodies that investors are applauding in the stock price this AM, and may read through to the entire beleaguered sector.
See the move in the CRB (commodities) Index in the last 2 weeks and question whether we can be spiraling lower on global growth as some market players are saying.
Potash is -4% on the open after reporting 4Q numbers that missed by a penny but more importantly were accompanied by a 2014 forecast that substantially trailed estimates.
Copper, aka “Dr. Copper” in economic circles due to the fact copper demand is seen as a barometer for the global economy, has found some support today off a key level on strong German data. But do not take your eye off the ball as today’s “hold” is not a perch that looks terribly sturdy.