Posts filed under “Markets”
Succinct Summations week ending April 18
1. The S&P 500 had its best week since July 12.
2. The Philly Fed came in at 16.6, v expectations of 9, nice beat.
3. Initial jobless claims come in at 304k v 315k expected, the four-week moving average is the lowest since 2007..
4. U.S. March retail sales came in at 1.1%, biggest rise since Sept. 2012. Ex-autos 0.7% biggest rise since Feb. 2013.
5. Core CPI advanced 0.2% v 0.1% expected.
6. The Fed Beige book said economic growth “increased in most regions”
7. Yellen said Fed committed to “accommodation to support recovery”- market cheers.
8. AAII bulls fewest since February 5th, skepticism has been fueling this rally for a long time.
1. Japanese consumer confidence fell to the lowest levels since August 2011.
2. U.S. housing starts came in at 946k, 24k less than expected.
3. NAHB came in at 47, below expectations of 49.
4. Empire manufacturing index (1.29 vs 8 ) missed expectations for the 3rd straight month.
5. Gasoline prices rose for the 26th straight day.
6. Chinese GDP came in at 7.4% y/o/y down from readings of 7.7%
Last week, we discussed why investors conflate various rationales when confronted with unknown stock market moves. As stated in “What’s Your Stock Market Story?,” people much prefer a narrative to any admission that market movements are often random. We know little, understand less and hate to admit it most of all. That column generated more…Read More
The Chinese trade data released this week, came in well below expectations. Whilst generally unreliable, other data confirms the slowdown of the Chinese economy. Markets expect that China will increase its stimulus programme in response to the slowing economy, which, in the past, has been the traditional response. However, comments by the Chinese Premier Mr…Read More
Succinct Summations week ending April 11th Positives: 1. AAII bulls dropped to 28.5%. 2. UMich April consumer confidence came in at 82.6, up from 80 and better than the 81 expected. 3. PPI came in at 0.5% in March, much higher than the 0.1% expected and up 1.4% y/o/y. A little bit of inflation is…Read More
Perspective: “A lifetime of outperforming the markets is unattainable for most. But a lifetime of self-improvement and the acquisition of skill and knowledge – that’s available for anyone who’s willing to go for it.” -Josh Brown, The Reformed Broker Discuss . . .
Last month, we noted that high flying tech names were crashing back to earth. After terrific run ups, companies such as Twitter Inc., LinkedIn Corp., SolarCity Corp., Netflix Inc. and Tesla Motors Inc. all have taken a shellacking. The setback reflects several concerns: Last year’s torrid market couldn’t continue at that pace; perhaps corporate earnings…Read More
The US March non-farm payrolls (NFP) data came in slightly below expectations, though the previous 2 months numbers were revised higher. In addition, whilst the unemployment rate remained at 6.7%, it looks as if more people joined the workforce which is encouraging. Furthermore, the slightly weaker NFP data has pushed back expected rate rises by…Read More