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.
We have made our view on Volatility very clear for months: We said you wanted to trade it and own it when it got cheap because we were entering an extended period of heightened volatility.
I have often talked about how Emerging Markets correlate very highly with small cap stocks in the U.S. for a couple reasons:
Emerging Money Daily Audio Call July 28 – On the call today we get into the global backdrop for the week which contains a lot of macro data and lot of Fed activity along with a lot of geo-politics.
Concerns over the viability of Portugal’s largest banks, Banco Banco Espirito Santo, Popolare and Unicredit have sent market participants once again to the safety of gold. As result gold future hit 3 months highs in today’s session.
As we move into the final stretch of the first week of June, market participants find U.S. economic reports at best mixed. ADP Jobs numbers fell short of expectations (179k vs, 210k) and analysts are now wondering when we are going to see stronger recovery numbers.