Once again monthly US job gains fell outside the range of estimates. Strong back to back surges in nonfarm payrolls in June and July helped alleviate concerns that the labor market is faltering in response to slow growth. The May swoon which rattled all is...
The headline number for second quarter GDP was horrific. The economy only grew by 1.2%, half of the expected 2.5% increase. The primary causes, inventory destocking that subtracted about 1.16% from GDP—the greatest decrease since 3Q11—and a 3.2% drop in residential and business spending. This...
Will today’s release of second quarter GDP clarify the strength of the economy? In my view earnings have been mixed even as the overall data is suggesting greater strength than most had anticipated....
Is the narrative about to change about the strength of the economy and inflationary pressures? June’s core CPI rose by 0.2% for the third consecutive month, a rise from increased shelter costs. The core CPI is now up 2.3% from June 2015, matching the largest...
Equites have retraced the majority of their Brexit loss. In my view the swift decline and subsequent recovery is the result of algorithmic trading, trading based upon the cross correlation of weighted variables. It is not investing. As noted many times algorithmic trading now accounts...
Equites, led by technology, fell almost 1.25% on central bank hesitancy of adding more stimuli. The dollar fell to a 10 month low and oil rose to a six month high. First quarter GDP disappointed on the headline number but was stronger than expected on...
The NASDAQ fell about 0.50%% as Apple and Twitter vastly disappointed. The S & P and Dow posted nominal advance, the result of rising crude and an uneventful Fed meeting. If I wrote three months ago the typical stock would be up following a profit...
Stocks slipped amid disappointing earnings for several “must” own growth entities even as crude advanced on the growing belief the oil market will be “balanced” sooner rather than later....
Several times I have commented the first quarter will be the inverse from the first quarter of the last five years, defined as growth will be stronger than expected. As all recall growth stalled in the first quarters’ of 2011-2015....
Welcome to February! Will the next 30 days be the inverse of the previous 30 as we just experience the worst January since 2009, the height of the financial crisis? As commented last week, I think the economy/markets are at a transition point. Will growth...