Posts filed under “Markets”
Succinct Summations of events for week ending March 6th 2015:
1. U.S. Nonfarm payrolls came in at 295k vs expectations for 240k.
2. Unemployment fell to 5.5%, down from 5.7% in January and the lowest level since May 2008.
3. The NASDAQ Composite crossed 5,000 for the first time in 15 years.
4. January ADP payrolls revised up to 250k from 213 previously reported.
5. Markit’s PMI came in at 55.1, better than the 54.3 expected and up from 53.9 last month.
6. ISM services came in at 57.1, in line with expectations and up from 54.2 in January.
7. The US economy has added 200k jobs for 12 straight months.
1. ADP private payrolls came in at 212k, vs the 219k estimated.
2. Personal income rose 0.3% vs expectations for a 0.4% rise.
3. Personal spending fell 0.2% vs expectations for a 0.1% decline.
4. The ISM manufacturing fell to 52.9, a slight miss and below last month’s 53.5
5. Ford sales fell 2%, well below the expectations for a 5.8% gain. GM missed expectations as well.
6. Initial jobless claims came in at 320k, higher than the 295k expected.
7. Average hourly earnings rose 2% y/o/y, still pretty tepid.
Succinct Summations week ending February 27th Positives: 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…Read More
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