Succinct Summations week ending October 25, 2013.

 
Positives:

1. The S&P 500 and Nasdaq composite both made new 52-week highs.
2. Jobless rate in U.S. drops to lowest level since November 2008.
3. August NFP revised upwards to 193k from 169k, subject to revisions, of course.
4. Durable goods orders rose 3.7% in September, the biggest gain in three months.
5. Investors threw $5B into European equity funds last week, the biggest weekly inflow ever.
6. Amazon investors still don’t care about profitability, congratulations bulls.
7. Kansas city fed manufacturing index rose to 6, up from 2 in September.
8. Rail traffic is at a 6-month high.
9. U.K. GDP grew 0.8%, the strongest since Q2 2010.

Negatives:

1. U.S. NFP came in at 148k, v expectations of 180k.
2. Existing home sales fell 1.9%, the first decline in 3 months.
3. Participation rate remains at 35 yr low (63.2%).
4. Weekly jobless claims fell to 350k (from 36k) v expectations of 340k.
5. October PMI index fell to 51.1 from 52.5, the lowest level in a year.
6. Stock market is near all time-highs and margin debt set a new record of $401B, valuations might not be crazy but speculation is heating up.
7. Core capex fell 1.1% v expectations of a 1% increase.
8. Durable goods excluding transprtations fell 0.1% v expectations of a 0.5% rise.
9. Consumer confidence fell to 73.2 v expectations of 75.

Category: Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

6 Responses to “Succinct Summation of Weeks Events (10/25/13)”

  1. formerlawyer says:

    Positive:

    10. US Government remains operational for 8 days.

    Negative:

    10. 105 days to the next shutdown.

  2. willid3 says:

    one glaring indicator of how well our health care system does

    http://business-news.thestreet.com/philly/story/medical-mistakes-are-the-third-leading-cause-death-the-us/1

    medical errors are the 3rd leading cause of deaths

    • odnalro zeraus says:

      Very frequently hospital medical errors.

      Pharmaceuticals, physicians, and insurance cos. are always accused of burdening health care cost and safety.

      Seldom are hospitals mentioned as culprits. They are one of the largest cost component in many healthcare procedures and cost’ while often enjoying monopolistic situations in buying pharmaceuticals; controlling physicians salaries and competition by hiring them and/or by buying their practices; etc.

  3. chartist says:

    Sorry BR, but those positives are moot. There’s only one positive: The Fed is going to continue to QE. I could espouse the value in Ford or talk about the potential of Noble Energy, but in this environment, you could swing a dead cat and find a double in under 3 years. There’s precious little alpha to be had. In five years or less, I can see Manhattan real-estate prices dropping cuz Vanguard gets all the assets.