Posts filed under “Markets”
Succinct Summations week ending February 27th
1. The Nasdaq Composite just had its highest monthly close ever.
2. Durable goods orders increased 2.8% vs 1.6% expected
3. Case-Shiller home prices rose 0.87% m/o/m and 4.46% y/o/y, both above estimates.
4. Core consumer prices rose 0.2% m/o/m vs +0.1% expected.
5. Pending home sales grew 1.7%, less than the 2% expected gain but still hit 18-month highs.
6. Revised Q4 GDP came in at 2.2%, down from the 2.6% initially estimated but better than the 2% expected revision.
7. U of Mich consumer confidence came in at 95.4, higher than expected.
1. Chicago PMI fell to 45.8 vs expectations of 59.4, lowest since July 2009.
2. Existing home sales fell 4.9% m/o/m vs expectations of a 1.8% decline
3. US initial jobless claims rose 31k to 313k last week vs 290k expected.
4. Dallas fed manufacturing index fell to -11.2, down from -4.4 in January and below the expected reading of -4
5. U.S. oil rigs decline for the 12th straight week.
Nikkei 225: Potential breakout into a secular bull market Source: Bank of America Merrill Lynch We continue to favor Japan’s Nikkei 225. The Nikkei 225 is pushing above the 2007 high of 18,300, which has the potential to end the secular bear market for Japan that began in 1989. This is a focus…Read More
Succinct Summations week ending February 20th Positives: 1. Stocks keep humming, the S&P 500 and Russell 2000 made new all-time highs. 2. Initial jobless claims fell to 283k vs the 290k expected. 3. EU consumer confidence hit the highest levels since Sept 2007 4. Markit US manufacturing PMI came in at 54.3, slightly higher than…Read More
Are We Becoming a Part-Time Economy? By John Robertson, Ellie Terry FEDERAL RESERVE BANK OF ATLANTA, FEBRUARY 12, 2015 Compared with 2007, the U.S. labor market now has about 2.5 million more people working part-time and about 2.2 million fewer people working full-time. In this sense, U.S. businesses are more reliant on part-time…Read More
Succinct Summations week ending February 13th Positives: 1. The S&P 500 and the Russell 2000 hit new all-time highs. 2. Eurozone GDP rose 0.3% versus expectations of a 0.2% gain. 3. Import prices declined 8% y/o/y. 4. Interest rates have crept up a bit, the ten year is back over 2%, and stocks haven’t crashed,…Read More
Emerging-Stock Bargain Seen in Commodity Users: Chart of the Day By David Wilson, Bloomberg The CHART OF THE DAY illustrates how Emerging-market stocks are becoming cheap enough relative to U.S. shares. Jack Ablin, chief investment officer at BMO Private Bank compared the price-to-sales ratios for the MSCI Emerging Markets Index, which tracks shares of companies…Read More
Succinct Summations week ending February 6th Positives: 1. January Nonfarm Payrolls came in at 257k vs 228k expected. 2. Eurozone retail sales were up 2.8% in December, the strongest in almost 8 years. 3. Average hourly earnings grew at 2.2% vs 1.9% expected. 4. Eurozone growth came in at 52.6, a six-month high. 5. Big…Read More
Now THAT was a game. Here are my post-Superbowl morning train reads: • Just Your Average Stock Market Recovery (Servo) • Breaking With Bogle (Bloomberg View) • Demographics and GDP: 2% is the new 4% (Calculated Risk) see also Americans Are Feeling Better About the Economy—a Lot Better (Real Time Economics) • Best Stock Picks From Wall Street Brokerage Firms (Barron’s)…Read More