Many analysts feel we're witnessing a bubble formation, like that which formed, and burst, in 2000, but MoneyShow’s Tom Aspray shares why he feels it's too early to make that call, given the differences between the two markets.
The long awaited Twitter IPO did better than expected, as it closed
Thursday 70.8% above the initial offering price. The S&P futures
had turned lower by the opening, and closed very weak. It appeared that
someone was paying attention to the financial networks and their
segments on whether it was a “stock market bubble.”
This discussion may have been in reaction to comments on October 29,
by BlackRock’s Chief Executive Officer Laurence D. Fink, who said “Fed
policy is contributing to bubble-like markets, such as the surge in
stock prices.” BlackRock manages a reported $4.1 trillion in assets,
which makes it the world’s largest money manager. (more)
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Monday, November 11, 2013
Steel Stocks Up 45% in Two Months... Much More to Come
In September, I told you to buy steel stocks.
At the time, steel was the most hated sector in the world. Flagship
names like U.S. Steel and AK Steel were down an average of 75% since
early 2011. Those are brutal returns considering the S&P 500 was up
30% in the same time frame.
I told you that if these companies reported any good news, we would
likely see huge short-term gains. And that's exactly what happened...
Since my essay, U.S. Steel and AK Steel
reported solid quarterly results. Plus, we've seen positive global
economic data over the last few months. As a result, these two names
have rocketed higher. Shares are up an average of 45% in two months.
After such huge returns, I would usually advise taking profits off the table. However, these stocks have much more upside. (more)
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The 7 Cheapest Markets in the World Right Now
Speaking at a recent conference in Chicago, longtime bull and BlackRock (NYSE: BLK) CEO, Larry Fink, believes that we’re seeing “real bubble-like markets again.”
Meanwhile, Morgan Stanley’s (NYSE: MS) CEO, James Gorman, disagrees.
He recently told Bloomberg that the S&P 500 Index is “frankly not bubble-like relative to the year 2000, 2005, 1995 and so on.” (more)
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Marvell Technology Group (NASDAQ: MRVL) Could Rocket Higher on a Possible Buyout
Before the news was released, based on Marvell's market cap at Monday's close, a 5% stake in the company would have cost about $296 million. One source, who asked not to be identified, said KKR views MRVL as undervalued and had conversations with the firm's CEO, Sehat Sutardja.
The involvement of KKR, a firm that is known for its successful leveraged buyouts, now also makes such a move a possibility with MRVL. Other major holders of the stock are the CEO and his brother, with a combined 20% stake, and David Einhorn's Greenlight Capital, which owns 9%. (more)
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US Weekly Economic Calendar
| time (et) | report | period | Actual | CONSENSUS forecast |
previous |
|---|---|---|---|---|---|
| MONDAY, NOV. 11 | |||||
|
Veterans Day None scheduled |
|||||
| TUESDAY, NOV. 12 | |||||
| 7;:30 am | NFIB small business index | Oct. | -- | 93.9 | |
| WEDNESDAY, NOV. 13 | |||||
| 2 pm | Federal budget | Oct. | -- | -$120 bln | |
| THURSDAY, NOV. 14 | |||||
| 8:30 am | Weekly jobless claims | 11/2 | 330,000 | 336,000 | |
| 8:30 am | Trade deficit | Sept. | -$39.2 bln | -$38.8 bln | |
| 8:30 am | Productivity | 3Q | 2.3% | 2.3% | |
| FRIDAY, NOV. 15 | |||||
| 8:30 am | Empire state index | Nov. | 5.0 | 1.5 | |
| 8:30 am | Import price index | Oct. | 0.2%% | 0.2% | |
| 9:15 am | Industrial production | Oct. | 0.2% | 0.6% | |
| 9:15 am | Capacity utilization | Oct. | 78.4% | 78.3% | |
| 10 am | Wholesale inventories | Sept. | -- | 0.5% | |
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