It's the weekend again, and that means it's time to discuss things I will be thinking about while resting up for what will be a wild and woolly week -- our Federal Reserve is pretty much set to potentially mess things up on a global basis with their crusade to raise interest rates.
One of the things I will be thinking about a lot (and have already written about a lot) is what exactly could be wrong with the "Einsteins" at our Federal Reserve. Their crusade to raise rates makes no sense at all. What exactly are they seeing that indicates that things are just wonderful and we should all be singing "Jingle Bells" all day long. In direct contrast, what is wrong with the central bankers of the rest of the world? Why are they not singing "Jingle Bells" along with Janet "Rebel" Yellen and her merry little elves?
So, BMO Capital Markets initiated coverage on Apple (AAPL) today with a $145 price target and all Apple shares can do is straight-line lower? Of course, we also have the constant barrage of daily negativity to deal with as far as Apple as is concerned, and rightly so given CEO Tim Cook and company constantly ringing the register gleefully on their options grants, come hell or high water.
In addition to the initiation of coverage on Apple, Stifel came out with a note saying that Apple's massive hedging benefit from the last fiscal year might now be vanishing. Stifel says that from Apple now has a mere $1.44 billion worth of FX hedging contracts in place vs. $3.56 billion in the same quarter last year. The analyst does not touch upon whether Apple could have hedged once the current December quarter got underway, but that is a story for another day.
LinkedIn (LNKD) has been up all day despite the carnage in the markets on vague chatter that ITG says that checks into LinkedIn "units" tracking better than expected and that growth in "order volume" has accelerated quarter over quarter. Really, ITG? What the heck does that even mean?
Forget the weekend, I am already wondering what happened to the old maxim on Wall Street that said, "Lower oil is good for the stock markets and consumers"? Pick up a newspaper and every headline says that oil is why our markets are going down, which is totally wrong. The one and only reason our markets, along with the rest of the world, are down are due to our Federal Reserve. Nothing else.
Finally, since I have hopped on to the Carolina Panthers bandwagon, Tony Romo broke his collar-bone for the second time this season and there is chatter that Jerry "ET" Jones might actually be salivating at the thought of bring Johnny Manziel on as a back-up if the Browns let him go. In my opinion, he will turn out to be an even bigger bust than Brian Bosworth was as an NFL player, if he has not already.
With that, I wish all of you a safe and happy weekend. And may your trades always work out in your favor.