Wild Swings 08-26-15

U.S. stocks ended their six-day slide, rallying strongly into the close. The six-day losing streak was the longest in more than 3 years. Included in the volatile stretch was the worst two-day fall since the dark days of the financial crisis. On the other hand, today’s gain also marked the biggest single-day jump in nearly four years. The large daily swings show the uncertainty of market participants.      Read more about Wild Swings 08-26-15

Supply Slow to Fall 08-19-15

In its weekly petroleum report, the EIA reported a surprising increase of 2.62 million barrels in commercial crude inventory. This marks the largest increase since April, at a time when the current inventory of 456.2 million barrels remains near the highest summer level in at least the last 80 years. Read more about Supply Slow to Fall 08-19-15

An Overreaction to the Yuan's Move 08-12-15

The People’s Bank of China (PBOC) surprised the markets by sharply devaluing the renminbi (aka the yuan) by 1.9 percent, the largest one-day adjustment on record. The PBOC sets a reference rate everyday, from which it lets the yuan trade up to 2 percent above and below. Yesterday the Chinese central bank set the reference rate to 6.2298 per U.S. dollar, the lowest rate for the renminbi in more than 3 years. Read more about An Overreaction to the Yuan's Move 08-12-15

The Fed Eyes the Fall 08-05-15

Payrolls processor ADP reported a surprisingly poor July. Private firms added only 185,000 jobs, according to ADP, well below consensus expectations of 215,000; the report missed even the lowest prediction amongst economists surveyed. The pace of hiring in small companies slowed dramatically compared to June and the manufacturing sector only added 8,000 jobs. Read more about The Fed Eyes the Fall 08-05-15