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[size=4]The VIX (a measure of FEAR & UNCERTAINTY) has cranked up over 10% this morning … DOW is falling some (down 70 points now)
https://finance.yahoo.com/quote/%5EVIX?p=^VIX[/size]EIA Petroleum Inventories: Crude -6.5M barrels vs. -2.7M consensus, -1.5M last week.
Gasoline +3.4M barrels vs. -1.5M consensus, -2.5M last week.
Distillates -1.7M vs. -0.1M consensus, -0.2M last week.Atlanta Fed tracker Q3 GDP growth at 3.5% vs. 3.7% at last check.
Q2 Productivity and Costs: +0.6% vs. +0.8% expected, 0.0% previous (revised).
Unit labor costs +0.6% vs. +2.5% expected, +3% previous.Canada Building Permits (MoM) Jun: 2.50% (est -1.90%; rev prev 10.70%)
Canada Housing Starts Jul: 222.3K (est 205.0K; prev 212.9K)On the hour |12:00 PM
Dow -0.21%.
10-yr +0.22%.
Euro -0.03% vs. dollar.
Crude +0.12% to $49.23.
Gold +1.26% to $1,278.53.U.S. credit card debt is at an all-time high and has just surpassed the level before the financial crisis of 2008
That is the great underbid – I remember seeing a list a year ago and the US is XOM, AAPL to name a few
Well put but still there is plenty of others on margin that will sell especially on the next cycle crash and guess what the Gnomes from Zurich will be there to pick up the rest of those names and control them.
[size=5][color=blue]^^^ +1 and ROFL 8) … but the VULCANS are always more logical — and make great FED chiefs 😉
P.S. as A3 and I have often shared, GOVT & even general public needs to contain DEBT (and not be a prisoner to it). IOW – we need Dave Ramsey in charge of our fiscal treasuries — as a minimum the USA balances it’s books each day & so as not to incur these massive unfunded liabilities.[/color][/size]
WOW – time to fire up the BEAR MTN grills as some news today was good excuse to let a little air out of these lofty record levels for the Stock Market … True valuations on many equities are far out of alignment with the true P/Es – but economic OUTLOOK is also improving … still my 401k ain’t complaining these days 🙂
At the close
Dow -0.17% to 22,047.68. S&P -0.04% to 2,473.62. Nasdaq -0.28% to 6,352.77.
Treasurys: 30-year +0.27%. 10-yr +0.1%. 5-yr +0.05%.
Commodities: Crude +0.79% to $49.56. Gold +1.52% to $1,281.82.
Currencies: Euro +0.03% vs. dollar. Yen -0.33%. Pound -0.08%.DOW futures down as some overseas tensions still remain … I did not know my geography well and discovered that this US territory (and strategic military base) is indeed fairly close to Korean peninsula … 99% of time these are simply fake threats — and for peace of mankind let’s hope it stays that way.
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