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
CPI 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 and unchanged at the core. Services ex energy was up by .2% for a 3rd straight month and up by 2.4% y/o/y but this trended 3%+ for a few years …
United States Death, taxes and gravity. Here are some technical spots to keep in mind that developed as of yesterday’s close. The Value Line geometric equal weighted index of 1700 stocks that I like to watch as a broad cross section of the market closed 1% below its 200 day moving average. This index is now up just .8% year to date. The Transportation index closed …
United States Death, taxes and 3pm stock market rallies. But, investors are becoming more selective and nothing reflects that better than this chart comparing the market cap weighted S&P 500 (in orange) and the Value Line Geometric equal weighted index of 1700 stocks (in white). My friend Helene Meisler yesterday also pointed out that 120 stocks in the NASDAQ …
[Read more...] about Death, taxes and 3pm stock market rallies / Jobless Claims / Benign PPI, but…
United States In contrast to the solid 3 yr note auction yesterday (thus fading expectations of many more Fed rate hikes), the 10 yr auction today was terrible. The yield of 2.25% was well above the when issued of 2.235%. The bid to cover of 2.23 was well below the 12 month average of 2.44 and the smallest since November. Also of note, dealers got stuck with 35% of …
I've updated my investment ideas page. (members click here). As always, this week's write-up includes specific equity, ETN, and ETF analysis. Updates of note this week include a new long in a multi-national, some sales in some select foreign ETFs, and more. Here's a sample from this week's update, on FAANG: I talked last month about the potential importance of the …
North Korea I’m sorry but I’m not going to pontificate here on the geopolitics of North Korea and what it means. I’ll leave it to others but will say ‘China, please help’. The South Korean Kospi was lower by 1.1% but there is not a stock exchange in Guam for me to give you a response (said in jest). The Won is also having its worst day in a month and a half. The yen …
The 3 yr note auction was excellent. The yield of 1.52% was below the when issued by almost 1 bp. The bid to cover of 3.13 was well above the 12 month average of 2.81 and is the best since December 2015. Also of note, direct and indirect bidders took almost 75% of the auction vs the one year average of 61%, thus leaving the dealers with the smallest amount since at …
Job Openings Job openings in June totaled a record high of 6.163mm up from 5.702mm in May. Notwithstanding this, hiring’s fell by 103k m/o/m but this is very volatile month to month as it rose by 416k in the month prior. The hiring rate did hold steady at 3.7%. The demand for labor grew in construction, manufacturing, trade/transport, financial services, …
United States The NFIB small business optimism index for July rose 1.6 pts to 105.2 and is a touch above the year to date average of 104.8. The post election optimism is pretty much holding up as this index printed 94.9 in October and 98.4 in November. The standout was the Plans to Hire component which rose 4 pts to 19% and matches the best level since December 2003. …
[Read more...] about Small business / Trade / Kazumasa Iwata
Peter is the Chief Investment Officer at Bleakley Advisory Group and is a CNBC contributor.
