Going into today, everyone's attention was focused on the JPM earnings report, the first big bank to report, on concerns about the profitability of the banking sector. And sure enough, as the chart below shows, going into JPM's earnings announcement, EPS expectations had been drastically cut to account for what was clearly set to be a painful quarter for banks.
With oil losing some of its euphoric oomph overnight, following the API report of a surge in US oil inventories, and a subsequent report that Iran's oil minister would skip the Doha OPEC meeting altogether, the global stock rally needed another catalyst to maintain the levitation.
Silver Surges 8% In 6 Days To Over $16 Per Ounce
Silver surged 3.65% on Monday and have surged 8% in just six trading days. Silver rose 56 cents from $15.34 to $15.90 per ounce on Monday, and consolidated on those gains yesterday to close above the psychological resistance of $16 per ounce.
Silver Coins – Now VAT Free In UK and EU
Joining the ranks of "broke lawyers" who can cancel their student debt, "Americans with disabilities have a right to student loan relief,” now according to Ted Mitchell, the undersecretary of education, said in a statement. Almost 400,000 student loan borrowers will now have an easier path to a debt bailout as Obama primes the populist voting pump just in time for the elections.
Submitted by Jeffrey Snider via Alhambra Investment Partners,