Market News

Despite weakness in the Dow, these five components set fresh 52-week highs, including four members of the 2016 ?Dogs of the Dow.? Here?s how to trade them.

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The UK recovery had to end exactly like this, exactly like so many of its post-war expansions -- with the currency plummeting. No economy can forever expand with its current account deficit exploding while its currency’s foreign exchange value remains effectively fixed. The internal dynamics of this mix will, every time, hollow out the tradable goods sector of the economy and suppress the price of labor.

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A week ago, billionaire hedge fund legend George Soros warned Britons and investors of the consequences of a vote to secede from the European Union, predicting that a vote to leave would cause the pound and stock markets to crater, a selloff he dubbed a "black Friday." Soros, who reportedly made over $1 billion on “Black Wednesday” — Sept. 16, 1992 -- by positioning for a selloff in the pound, was right.

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Even before the monumental Brexit vote last Thursday, the result of which wrought carnage to the markets and sent shockwaves through the deal making fraternity, data for UK-targeted only M&A in the second quarter of 2016 was shown to have plummeted over 50% against the previous quarter. A blip perhaps?

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In early April, I posted a blog sharing some thoughts about the wave of Nationalism now gaining momentum throughout the world. Since then, a hard-line extreme right party has won seats in the Cyprus parliament; Austria's Freedom Party presidential candidate, although narrowly defeated, gained 49.7% of the vote; France's National Front is newly energized and is promoting a principle of “national priority; - Italy's anti-establishment Five Star movement candidate, Virginia Raggi, has become Rome's mayor with 2/3 of the vote in a run-off contest; and just this past weekend, the UK has voted to exit the European Union (EU), thus roiling global financial markets and causing everyone to wonder what's next for the economy and will other European nations follow suit.

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Thailand's e-commerce market is booming and shaping up to be one of Asia’s top performers. With the imminent start of the government's national e-payment system, aimed at making Thailand a cashless society, it's expected to see double-digit growth.

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The most recent short interest data has been released for the 06/15/2016 settlement date, which shows a 462,425 share decrease in total short interest for Affiliated Managers Group Inc. (NYSE: AMG), to 774,041, a decrease of 37.40% since 05/31/2016. Total short interest is just one way to look at short data; another metric that we here at Dividend Channel find particularly useful is the "days to cover" metric because it considers both the total shares short and the average daily volume of shares traded. The number of shares short is then compared to the average daily volume, in order to calculate the total number of trading days (at the average volume) it would take to close out all of the open short positions if every share traded represented a short position being closed. Average daily volume for AMG at the 06/15/2016 settlement increased to 690,309, as compared to 352,543 at the 05/31/2016 report. That brought "days to cover" down to 1.12, a 68.03% decrease from the 3.51 days to cover calculated at the previous short interest data release.

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Acquisitions can boost accounting earnings while destroying shareholder value, a fact illustrated by the high-low fallacy. ACI Worldwide (ACIW) began a large acquisition spree in 2012, which continued through 2015. On the surface, everything seems on the up and up, but when one peers below the surface, it's apparent that the fundamentals of the business are headed in the wrong direction. For this reason and more, ACIW is one of June’s Most Dangerous Stocks, and is this week’s Danger Zone pick.

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The middle class finally realized it was shortchanged these past 20 years and now is logging in protest votes. Not so dire as bread riots in France, 1789. But with healthcare insurance escalating, our homemade bread riot lurks no more than 3 years in coming.

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The athletic giant is leaning more on international customers for growth amid a sales slowdown at home.

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