In case you missed it, check out my latest investment ideas here, published earlier this week (members only) Positives The Fed finally decided that they should monetize US debts and deficits and the subsidization of the US housing market just a bit less but that reduction will progress every quarter. On the former, it has no longer been ‘temporary.’ On …
[Read more...] about Succinct Summation of the Week’s Events – 9/22/17
Positives The UoM consumer confidence index for September fell to 95.3 from 96.8 in August and was about in line with the estimate of 95. Current Conditions rose 3 pts to the best since November 2000 while Expectations were down by 4.3 pts after jumping by 7.2 pts in August. Those expecting Higher Income rose 1 pt after falling by 4 pts last month. Those …
[Read more...] about Succinct Summation of the Week’s Events – 9/15/17
Positives At least positive for GDP in Q3, US wholesale inventories rose .6% m/o/m in July, two tenths more than expected and up by .6% for the 3rd straight month. But, because sales fell by .1%, the inventory to sales ratio rose to the highest level since November 2016. After 3 straight weeks of declines that took the purchase component of the weekly MBA …
[Read more...] about Succinct Summation of the Week’s Events – 9/8/17
This will be my last post until after Labor Day. Enjoy the next week whatever you might be doing. Positives Initial jobless claims totaled 234k, 4k less than expected and up a touch from 232k last week. This brings the 4 week average down to 238k from 241k, the lowest since mid May. Continuing claims, delayed by a week, were unchanged. The August Markit …
[Read more...] about Succinct Summation of the Week’s Events – 8/25/17
Positives Initial jobless claims totaled 232k, 8k less than expected and down from 244k. This drops the 4 week average a hair to 240,500 from 241,000 as a similar 234k print drops out. Continuing claims, delayed by a week, fell by 3k. The NY manufacturing August index saw a large rebound to 25.2 from 9.8, was well above the forecast of 10 and is at the best …
[Read more...] about Succinct Summation of the Week’s Events – 8/18
In case you missed it, the latest update to my investment ideas is here (members only). Positives Consumer prices rose .1% m/o/m at both the headline and core levels in July. That was one tenth less than expected for each. Versus last year, prices were up by 1.7% for both and that was up from 1.6% for the headline last month and unchanged at the core. …
[Read more...] about Succinct Summation of the Week’s Events – 8/11
Positives July payrolls surprised with a headline print of 209k vs the estimate of 180k. The private sector added 205k of this. The household survey added 345k jobs, about the same as the 349k increase in the labor force but the U3 unemployment rate did tick down by one tenth to 4.3%, matching the lowest level since February 2000. The U6 rate held at 8.6%. Hours …
[Read more...] about Succinct Summation of the Week’s Events – 8/4/17
Positives 1) The final print of the July UoM confidence index came in at 93.4, a touch above the estimate of 93.2 and the first look at 93.1 but is down from 95.1 in June and is at the lowest level since October. All of the decline was attributed to the Expectations component as it fell by 3.4 pts, only slightly offset by a .2 pt rise in Current Conditions. …
[Read more...] about Succinct Summation of the Week’s Events – 7/28
Positives Initial jobless claims fell 15k w/o/w to 233k and that was 12k below the estimate. This lowered the 4 week average to 244k from 246k. Continuing claims however, delayed by a week, rose by 28k to the highest level in 3 months. After falling by 13% last week, refi applications rebounded by 13% w/o/w as mortgage rates held steady at 4.22%. Refi’s are …
[Read more...] about Succinct Summation of the Week’s Events – 7/21
Listen to this week's Podcast here Positives Headline CPI was flat m/o/m and up .1% at the core, both one tenth below the estimate. Due to rounding though, the y/o/y core rate of 1.7% was as expected while headline CPI was up by 1.6%. Energy prices fell m/o/m for the 4th month in the past 5 while food prices were flat but I expect to start ticking higher. …
[Read more...] about Succinct Summation of the Week’s Events – 7/14/17
Peter is the Chief Market Analyst with The Lindsey Group. He is Co-CIO at Bookmark Advisors, a member of the Advisory Services Network and a regular CNBC Contributor.
