Positives 1)Payrolls in November expanded by 263k, 63k more than anticipated, partly offset by a downward revision to the two prior months of 23k. Most of the beat was in the government sector as private payrolls rose by 221k, 36k above the estimate. Smoothing out the monthly noise puts the 3 month job hiring average at 272k vs the 6 month average of 323k, the 12 …
[Read more...] about Succinct Summation of the Week’s Events – 12/2
I'm happy to present my latest podcast and CEO interview. Once again, I join Guy Adami and Dan Nathan to discuss this week's headlines, starting with the protests in China and what a re-opening there could mean for central banks in the rest of the world. We also check in on the current state of US Equities following the recent rally, and the stages that have …
Positives 1)Initial jobless claims fell to 222k from 226k last week and that is 6k under the estimate. The 4 week average though rose 2k to 221k. 2)Core retail sales were better than expected in October by 4 tenths with its 7 tenths gain and September was revised up by 2 tenths to a rise of .6%. The y/o/y gain was 6.5%. 3)In Realtor.com’s report on October …
[Read more...] about Succinct Summation of the Week’s Events – 11/18
Positives 1)The October CPI rose .4% headline and .3% core, both two tenths below expectations. The headline y/o/y increase was 7.7% vs 8.2% in September. The core rate was higher by 6.3% y/o/y after the 40 yr high print of 6.6% in the month before. Energy prices rebounded by 1.8% m/o/m after 3 months of declines and are higher by 17.6% y/o/y. Food prices rose …
[Read more...] about Succinct Summation of the Week’s Events – 11/11
Positives 1)Payrolls grew by 261k in October, above the estimate of 193k and the two prior months were revised up by a combined 29k. About half of the upside surprise came from government workers. The private sector added 233k vs the forecast of 200k. The participation rate rose one tenth to 62.2% but was at 62.4% two months ago. The workweek held at 34.5 as …
[Read more...] about Succinct Summation of the Week’s Events – 11/4
Positives 1)Thanks to a much lower than expected price deflator, Real Q3 GDP beat estimates with a 2.6% increase vs the estimate of 2.4%. Looking at nominal growth, the estimate was 7.7% and we got 6.7%. Trade also was the main contributor to growth. The negative was that final sales to private domestic purchasers was up just .1%. …
[Read more...] about Succinct Summation of the Week’s Events – 10/28
Positives 1)Initial jobless claims fell to 214k, 19k below expectations and down from 226k last week. The 4 week average was little changed at 212k vs 211k in the week prior. Continuing clams rose to 1.385mm from 1.364mm but that was just a hair above the estimate. 2)According to the Treasury International Capital flow data out for August, foreigners bought …
[Read more...] about Succinct Summation of the Week’s Events – 10/21
Labor Pains and OpportunitiesI joined Guy Adami and Dan Nathan to discuss the Fed's current predicament. We talk about whether the strong jobs numbers on Friday give them continued cover for aggressive rate hikes. What will the upcoming earnings season look like and what does that mean for the broader markets? And what would a Fed-induced recession mean for multiples …
[Read more...] about New Podcast: A Conversation with Ian Siegel, CEO of ZipRecruiter
Positives 1)Payrolls grew by 263k, 8k more than expected and the two prior months were revised up by a combined 11k. The private sector added 288k and thus the government shed workers, mostly in education (seasonally adjustments). The household survey added a similar amount of jobs, 204k but when combined with a drop in the labor force of 57k (after the huge 786k …
[Read more...] about Succinct Summation of the Week’s Events – 10/7
Positives 1)Initial jobless fell again to 193k which was 22k less than expected and down from 209k last week (revised from 213k). This brings the 4 week average to 207k from 216k and vs 223k in the week before. Also of note, continuing claims fell to 1.347mm, about 40k less than expected and down from 1.376mm in the week prior. 2)The September Conference Board’s …
[Read more...] about Succinct Summation of the Week’s Events – 9/30
Peter is the Chief Investment Officer at Bleakley Advisory Group and is a CNBC contributor. Each day The Boock Report provides summaries and commentary on the macro data and news that matter, with analysis of what it all means and how it fits together.
