Market Weekly: Dec 18 Dec 22 2017

Viewing 15 posts - 16 through 30 (of 37 total)
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    Q3 Current Account: -$100.6B vs. -$116.7B consensus, -$124.4B (revised from $123.1B)

    November Housing Starts: 1.297M vs. 1.240M expected and 1.256M prior (revised up).
    Building permits 1.298M vs. 1.270M expected and 1.316M prior (revised up).

    Redbook Chain Store Sales: +4.4% YoY vs. +3.3% last week.
    Month-to-date chain store sales +3.6%.
    Redbook expects sales to be up 4.5% for the crucial holiday month.


    S&P 500 dividends no longer as appealing relative to US Treasuries.

    The gap between S&P dividend yield and 2y US govt bond yield almost closed for the first time since the financial crisis


    Senate panel rejects Trump nominee Scott Garrett to head Ex-Im Bank

    With two Republicans breaking ranks, the Senate Banking Committee Tuesday morning rejected President Trump’s nominee to head the Export-Import Bank, amid fears that former Rep. Scott Garrett did not support the mission of the agency designed to aid U.S. exporters seeking financing.

    The panel voted 13-10 not to support Mr. Garrett, a New Jersey Republican who served seven terms in the House before retiring in 2017.

    Conservatives have long targeted the Ex-Im Bank, saying it amounts to corporate welfare for large corporations such as Boeing. The agency provides guarantees for U.S.-based companies seek to finance export deals where conventional private-sector funding is not available.

    Mr. Garrett’s nomination was already considered to be in trouble when Sen. Mike Rounds, a South Dakota Republican who serves on the banking committee, announced last week he would vote against Mr. Trump’s nominee.


    US House Vote on Tax Reform
    passed 227-203


    [color=teal][size=5][b]TAX BILL passes in HOUSE .. possible vote in SENATE tonight or tomorrow … and signature by POTUS to occur a day or two later to tidy up as needed .. indeed a great Christmas present … and it can “pay for itself” as follows

    1. velocity & recirculation principals of money grows jobs & GDP & trickles in more taxes
    2. re-patriotism of overseas money (8% to do that)
    3, more jobs will be created & economy will move to 4% GDP 8)[/b][/size][/color]


    Prayers & deepest sympathy for those impacted by SEATTLE Amtrak disaster …. I do hope INFRASTRUCTURE is next on list


    ya’ll got any of those NAFTA agreements because Canada is going to be hurting country in the medium/long term

    What is Canada exporting?
    automobiles, oil, coal, etc

    a long list of things America doesn’t need or the world doesn’t want from Canada


    Potash, Bieber, weed ….


    At the close
    Dow -0.14% to 24,756.64. S&P -0.32% to 2,681.78. Nasdaq -0.44% to 6,963.93.
    Treasurys: 30-year -0.94%. 10-yr -0.38%. 5-yr -0.18%.
    Commodities: Crude +0.63% to $57.58. Gold -0.02% to $1,265.20.
    Currencies: Euro +0.52% vs. dollar. Yen +0.27%. Pound -0.03%.


    On Friday, December 15, 2017, Washington Federal Bank For Savings, Chicago, IL was closed by the Office of the Comptroller of the Currency. The FDIC was appointed Receiver. All non-brokered insured deposits have been transferred to Royal Savings Bank, Chicago, IL.


    US old Tax Rate 34.6%
    US new Tax Rate 18.8%

    Tax Rate in: Mexico 19.7%
    Mexico Is Experiencing the Highest Job Growth in Its Modern History

    Tax Rate in: Canada 21.2%
    Canada’s jobless rate hits lowest since 2008 as hiring spikes


    [size=5][b]TINY BIT of “SELL on the GOOD NEWS” type close 🙂

    [color=red]Dow Jones 24,726.65 -28.10 (-0.11%)
    S&P 500 2,679.25 -2.22 (-0.08%)
    Nasdaq 6,960.96 -2.89 (-0.04%[/color])[/b][/size]


    Thankful for passage of TAX reform act of 2018 🙂 … #45 will seal the deal soon 8) … it’s definitely not perfect & while I would have structured differently, But, I can’t see where getting a few thousand $$$ back each year of MY OWN MONEY is a bad thing? — as is being mischaracterized in fake news reports. I believe it will be good for America as the economic engine is beginning to purr again 🙂 I think some IRS jobs will be reduced over time with almost a post card submission each year


    if you go by Democrats on social media, the tax bill is the end of the world


    Initial Jobless Claims +20K to 245K vs. 234K consensus, 225K prior (unrevised).
    Continuous Claims:+43K at 1.932M vs. 1.889M.

    GDP Q3: +3.2% vs. +3.3% consensus and +3.3% prior estimate.
    Q3 Corporate Profits: +4.3% Q/Q, 0.7% prior.
    November Philly Fed Business Outlook: +26.2 vs. +21.0 expected, 22.7 prior.
    Nov. Chicago Fed National Activity Index: +0.15 vs. +0.20 expected and +0.76 (revised) prior.
    Oct. FHFA Housing Price Index: +0.5% M/M , +0.4% consensus, +0.3% previous.
    +6.6% Y/Y vs. +6.3% previous.

    Nov. Leading Indicators: +0.4% to 130.9 vs. +0.3% consensus, +1.2% prior (revised).
    Coincident Economic Index +0.3% to 116.5.
    Lagging Economic Index +0.1% to 125.6.

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