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Trade Idea of the Day Presented by: Zero Hedge

Student Debt Is Crushing Net Worth Of Couples In Their 20s

Young people in their 20s are starting their careers with a negative net worth as a direct result of student loans. With student loan debt burdening a growing number of Americans, a new profile in the Seattle Times recently highlighted one couple's struggle with having a negative net worth to start their careers... Read More

WTI Spikes After Huge Inventory Draws

WTI’s post-API surprise crude draw rally stuttered this morning as uncertainty over the status of trade negotiations between the U.S. and China stoked concerns over global economic growth. “The energy complex is on the back foot as it takes its cues from a pullback on global stock markets,” Stephen Brennock and Tamas Varga, analysts at PVM Oil Associates Ltd., wrote in a report. “This is in spite of a bullish API report.” API Crude -2.133mm (+1.75mm exp) Cushing -317k Gasoline -2.794mm Distillates -1.607mm DOE Crude -9.59mm (+1.75mm exp, Whisper +66k) - biggest since July 2018 Cushing -468k Gasoline -4.587mm Distillates -4.127mm - biggest since Dec 2018 After last week's broad-based inventory declines, expectations were for a rebound build this week (API, however...

Fly Intel: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Monster Beverage (MNST) downgraded to Neutral from Conviction Buy at Goldman Sachs with analyst Judy Hong saying the company's U.S. sales could remain softer than expected in the near term, driving downward estimate revisions. 2. FedEx (FDX) downgraded to Neutral from Overweight at JPMorgan with analyst Brian Ossenbeck noting FedEx's outlook was lowered more than expected as legacy Express leverage to a strong airfreight market was muted and the full TNT integration remains a second half of 2020 event. 3. Rockwell Automation (ROK) downgraded to Neutral from Buy at UBS with analyst Peter Lennox-King seeing a balanced...

Housing Inventory Tracking

Update: Watching existing home "for sale" inventory is very helpful. As an example, the increase in inventory in late 2005 helped me call the top for housing. And the decrease in inventory eventually helped me correctly call the bottom for house prices in early 2012, see: The Housing Bottom is Here. And in 2015, it appeared the inventory build in several markets was ending, and that boosted price increases. I don't have a crystal ball, but watching inventory helps understand the housing market. Inventory, on a national basis, was up 4.6% year-over-year (YoY) in January, this was the sixth consecutive month with a YoY increase, following over three years of YoY declines. The graph below shows the YoY change for non-contingent inventory in Houston, Las Vegas, and Sacramento...

Tesla Asks Employees To "Volunteer" And Help Deliver 30,000 Cars

After three rounds of layoffs at Tesla over the last 18 months, it's probably be safe to assume that those "lucky" to still be on the company's payroll are finding themselves stretched a little thin. This would seem, to us, like the absolute worst time to ask employees to "volunteer" additional time (without additional pay), and so that, naturally, is exactly what Tesla has done. Already, tales from whistleblowers and former employees paint a picture of a chaotic workplace in constant disarray. Now, an internal email is asking employees to "volunteer" to help deliver 30,000 more cars before the end of the first quarter, according to a new Business Insider article. Similar "all hands on deck" style delivery...

Foreigners Dislike US Stocks, US Investors Dislike Foreign Bonds

Submitted by Nomura's Bilal Hafeez. We recently got the latest US capital flow data for the US, which is for January 2019. The dominant capital flow themes of 2018 appear to have continued into the start of this year: Foreigners sold US equities for the 9th straight month and the scale of selling in January was the largest since late 2015. Undoubtedly some of this was linked to the sell-off in December. Foreign flows into US equities have also generally ignored the actual performance of US stocks since the financial crisis (see first chart – despite strong US stocks, foreigners haven’t bought). US investors are still selling foreign bonds. In fact, since late 2014, US investors have sold foreign bonds in every month except two. They did buy foreign equities...

Lyft Expects To Raise Up To $2.1 Billion As IPO Roadshow Begins

Lyft is looking to raise up to $2.1 billion in its upcoming initial public offering, pegging its valuation between $21 and $23 billion according to the Wall Street Journal, as the ride-hailing service launches its IPO roadshow. The range, equating to between $62 and $68 a share, is preliminary and could change by the time the shares start trading around the end of next week. The company issued a filing outlining the range Monday, confirming a report by The Wall Street Journal on Sunday. -WSJ Lyft, founded in 2012 and operating in over 300 cities in the US and Canada, had revenues of $2.16 billion in the last year and a net loss of $911.3m according to the Financial Times. A final IPO price will be set by the San...

Russian Billionaire Deripaska Sues US Treasury, Steven Mnuchin

Russian billionaire oligarch Oleg Deripaska - an ally of president Vladimir Putin - sued the Treasury Department and Treasury Secretary Steven Mnuchin, seeking a U.S. court order lifting sanctions against him. In his lawsuit filed on Friday, Deripaska claimed he was “the latest victim” of “political infighting and ongoing reaction to Russia’s purported interference” with the 2016 U.S. presidential election. He also accused the Treasury of unfairly and illegally targeted him, which resulted in his net worth dropping by $7.5 billion due to the sanctions. The sanctions have resulted in “the utter devastation of Deripaska’s wealth, reputation and economic livelihood,’’ according to the complaint, filed in a Washington federal court. “Deripaska has...

ChiNext Collapse Continues As China's "National Team" Abandons Investors

After 10 straight days of dip-buying pandemonium in Chinese stock markets - extending gains for small caps from the start of February to +46%! - the last three days have seen a notable absence of the "National Team" rescue bid sparking a 9% collapse in ChiNext... However, while ChiNext remains the world's best-performing equity market in 2019, Bloomberg reports that there have been hints that officials don’t want a wild rally, and state media reported that the regulator warned brokers on risks of over-the-counter margin lending. China’s biggest state-owned brokerage also made a bearish call on shares of a state-owned insurer last week, a move interpreted as a sign the government wants...

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