Posts filed under “Markets”
Succinct Summations week ending October 10th
1. Despite the recent bout of volatility, the S&P 500 is just under 5% off its all-time highs.
2. The national price of gasoline fell to $3.24, the lowest since December 2013.
3. Initial jobless claims came down to 287k while the 4 week average is at the lowest levels since ’06.
4. MBA refi applications rose 5% w/o/w as mortgage rates hit a 4-week low.
5. Japanese machine orders rose 4.7% m/o/m, above the 0.5% expected advance.
1. It was a bad week for the global stock market. The MSCI ACWI has a three week losing streak for the first time in 14 months.
2. Rough data out of Germany sent the Dax and other indices tumbling as they missed expectations on exports, industrial production and factory orders.
3. Japan consumer confidence fell to a 4-month low.
4. Eurozone retail PMI fell to 44.8, glued below the neutral levels.
5. Volatility is back, the S&P 500 was up/down 1% in six of the last eleven sessions.
6. The Russell 2000 is down for the sixth straight week, just one away from a record.
“Never try to teach a pig to sing- it wastes your time and annoys the pig.” – Robert A. Heinlein, The Notebooks of Lazarus Long Whenever I write about Gold, the pushback is always robust. Yesterday’s column How Low Can Gold Go? was no different. As a public service, I thought I would…Read More
Succinct Summation of Week’s Events: Positives: 1) US economy added 248k net new jobs in September; two prior months were revised up by a total of 69k. 2) Unemployment rate falls two tenths unexpectedly to 5.9%, the lowest since July ’08. Average weekly hours ticks up to 34.6, the most since May ’08. 3)…Read More
The US, together with 5 Arab nations, launched air strikes against ISIS in Syria. Whilst positive that a number of Arab states are participating, this is going to be a long campaign. The Chinese finance minister, Mr Lou Jiwei, stated that growth faces downward pressure, though China will not make major policy changes to compensate….Read More
Succinct Summations week ending September 26th Positives: 1. New home sales came in at 504k vs expectations of 430k which was the biggest beat relative to expectations since May 2010. 2. Core durable goods rose by 0.7%, the plunge in headline orders was not unexpected. 3. China’s Shanghai Composite had a new one-year closing high…Read More