Art Cashin – We Are Seeing A Rally In Stocks, Gold & Oil, Here Is The Reason
KingWorldNews.com
March 06, 2018
Legend Art Cashin says we are seeing a rally in stocks, gold and oil. Here is the reason why…
Record Buybacks
March 6 (King World News) – A portion of today’s note from legend Art Cashin: The Shrinking Pie – Lots of pushes and pulls from things like trade policy and politics. But a steady influence is the tidal wave of buyback money that continues to pour into the marketplace.
Here’s a note on the topic sent in by an old and astute friend:
TrimTabs IR: Buybacks reached $113.4 billion in February, the most since April 2015. $5.8 billion in buybacks per day during the current earnings season, a record. Share buybacks announced by large U.S. companies have exceeded $200 billion in the past three months, more than double the prior year, according to WSJ.
Overnight And Overseas – Global markets kicked into high gear, first in apparent response to Gary Cohn’s attempt to dilute or even head off the tariffs by setting up a meeting with Trump and key business leaders. In the last ninety minutes, the rally got a further boost by hints of some North Korean cooperation.
The Rest…HERE
