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Retail indeed – retail sales, Walmart, home Depot and some big tech CSCO and AMAT – have a great week all – will North Korea be the news feed this week or another distraction?
RALLY TIME … back to land of 22,000 … as market is roaring back to life at start of week (after a MINOR 1% “great correction” last week) 😉 🙂
European indices closes all higher to start week off
France’s CAC up 1.4%
German DAX up 1.4%
Italy FTSE MIB 1.7%
Portugal PSI20 up 1.3%
Spain Ibex up 1.4%
UK FTSE up 0.7%low volume trading day,
not something you want to see on a rally because its shows lack of conviction
Share repurchases by American companies this year are down 20 percent from this time a year ago, according to Societe Generale
At the close
Dow +0.59% to 21,986.99. S&P +0.99% to 2,465.78. Nasdaq +1.34% to 6,340.09.
Treasurys: 30-year -0.28%. 10-yr -0.21%. 5-yr -0.13%.
Commodities: Crude -2.68% to $47.51. Gold -0.53% to $1,287.18.
Currencies: Euro -0.32% vs. dollar. Yen +0.45%. Pound +0.36%.[b][size=5]as in movie Australia … the bulls were stampeding on WALL STREET …
still one should be CAUTIOUS at these lofty levels ;)[/size][/b] 8) 8) 8)
You don’t need to be a rocket scientist to know that something needs to change with the culture of the no risk BTFD behind each rip higher regardless of valuation.
while things appear a little chaotic in the real world, it’s so BORING on WALL STREET today — that even the VULTURES might fall asleep 😉 8)
July Retail Sales: +0.6% M/M to $478.9B vs. +0.3% expected, -0.2% prior (revised).
Ex-autos: +0.5% M/M vs. +0.3% expected, -0.2% prior
Ex-gas and autos: +0.5% M/M vs. +0.4% expected, -0.1% prior..
Control group +0.6% vs. +0.4% consensus., -0.1% prior.August Empire State Survey: +15.4 to 25.2 vs. 10 expected, 9.8 prior.
New Orders 20.6 vs. 13.3.
Shipments 12.4 vs. 10.5
Number of Employees 6.2 vs. 3.9Redbook Chain Store Sales: +2.5% Y/Y vs. +2.7% last week.
Month-to-date sales up 2.6% through August 12.
August sales are expected to increase 3.1%.June business inventories: +0.5% at $1,869.3B vs. 0.4% consensus and +0.3% prior.
Sales: +0.3% at $1,356.8B.
Inventory/Sales ratio of 1.38.Aug NAHB Housing Market Index: 68 vs. 65 consensus and 64 prior.
Speaking on an American Banker podcast, Dallas Fed President Robert Kaplan – noting the unemployment rate still hasn’t returned to its pre-recession low – says slack remains in the labor market.
While further tightening in employment should translate into wage pressure, he expects it to be lower than in the past.
It’s appropriate, he says, to be patient on the timing of the next rate hike.
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