{"id":7276,"date":"2015-04-13T05:52:03","date_gmt":"2015-04-13T10:52:03","guid":{"rendered":"http:\/\/olduvai.ca\/?p=7276"},"modified":"2015-04-13T05:52:03","modified_gmt":"2015-04-13T10:52:03","slug":"global-financial-markets-go-nuts","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=7276","title":{"rendered":"Global Financial Markets Go Nuts"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/wolfstreet.com\/2015\/04\/12\/global-financial-markets-go-nuts\/\" target=\"_blank\">Global Financial Markets Go Nuts<\/a><\/h3>\n<p>The global economy has, let\u2019s say, some issues, including a slight demand problem. Growth has shifted into low gear in China and has stumbled in the US so far this year, while Europe has trouble wading out of the mire. But stock markets\u00a0<em>jubilated<\/em>\u00a0last\u00a0week:<\/p>\n<p>Hong Kong\u2019s Hang Seng soared a stunning 7.9% followed by the Shanghai Composite\u2019s jump of 4.4%. Chinese stocks are beautifully spiking as\u00a0<em>everyone<\/em>\u00a0in China is now once again gambling on them as a way to get rich quick. It worked out last time too. In Europe, the German DAX rose 3.4%, The British FTSE 4%, and the French CAC 40 3.5%. Stocks have been booming in Europe all year, with for example the DAX up 26% year-to-date! Japan\u2019s Nikkei and India\u2019s SENSEX rose about 2% for the week. The S&amp;P 500 \u201cedged up,\u201d given\u00a0 how this week has been, \u00a0by only\u00a01.7%. It was a phenomenal week for global stocks.<\/p>\n<p>So corporate earnings look terrible for the first quarter. In the US, quarterly earnings estimates have been slashed by the largest amount since 2009, and are now expected to decline. It\u2019s not just energy. Some of this is merely an effort to lower the bar so far that even companies with crummy earnings can still clear it, and that by \u201cbeating\u201d the estimates \u2013 no matter how terrible earnings are \u2013 shares can still march higher. Either way, it doesn\u2019t look good.<\/p>\n<p>It\u2019s just one more phenomenon in a long list of phenomena so far this year in the global financial markets. As Michael Hartnett, Chief Investment Strategist at BofA Merrill Lynch, put it so succinctly:<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Financial Markets Go Nuts The global economy has, let\u2019s say, some issues, including a slight demand problem. Growth has shifted into low gear in China and has stumbled in the US so far this year, while Europe has trouble wading out of the mire. But stock markets\u00a0jubilated\u00a0last\u00a0week: Hong Kong\u2019s Hang Seng soared a stunning [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[4755,195,1849,366,4754,2443],"class_list":["post-7276","post","type-post","status-publish","format-standard","hentry","category-economics","tag-corporate-earnings","tag-debt","tag-financial-markets","tag-global-economy","tag-global-financial-markets","tag-stock-markets"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7276"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7276\/revisions"}],"predecessor-version":[{"id":7277,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7276\/revisions\/7277"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}