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A3, PPT, and GOLDMAN flash servers are buying equities like no tomorrow … even with looming USA shutdown 8)
The economy continued to expand at a “modest to moderate” rate, according to the latest Fed Beige Book. That holds true for 11 districts, while Dallas saw a “robust increase.”
Employment was up at a modest pace with most districts noting ongoing market tightness and challenges finding qualified workers. Some districts say firms expect wages to increase in months ahead.Inflation also sees “modest to moderate” growth. Several districts reported increases in manufacturing, construction or transportation input costs. Most of the country saw rising home prices.
Non-auto retail sales were up in most districts, with auto sales mixed. Some retailers noted holiday sales higher than expected.
Housing sales were constrained somewhat by limited inventory. Most manufacturers noted modest growth in overall conditions.
Jan. NAHB Housing Market Index: 72 vs. 73 consensus and 74 prior.
Dec. Industrial Production: +0.9% vs.. +0.4% consensus, -0.1% prior (revised).
Capacity utilization: 77.9% vs. 77.3% consensus, 77.2% prior.Redbook Chain Store Sales: +2.6% Y/Y vs. +3.4% last week.
Month-to-date chain store sales +3.0% Y/Y.
January sales are expected to be up 3.6% Y/Y.MBA Mortgage Applications
Composite Index: +4.1% vs. +8.3% last week.
Purchase Index: +3.0% vs. +5.0%.
Refinance Index: +4.0% vs. +11.0%
30 year mortgage rate at 4.33% vs. 4.23%.At the close
Dow +1.26% to 26,116.71. S&P +0.94% to 2,802.62. Nasdaq +1.03% to 7,298.26.
Treasurys: 30-year -0.4%. 10-yr -0.27%. 5-yr -0.16%.
Commodities: Crude +0.24% to $63.88. Gold -0.69% to $1,327.90.
Currencies: Euro -0.4% vs. dollar. Yen +0.64%. Pound -0.46%.[color=teal][b]Still believe based there might be a possibility for a GOVT freeze coming on Friday
Hopefully not, but when the District of Crime shuts down, sometimes we are better served 😉 :)[/b][/color]
[color=green][b]CAUTIOUS MOVE TO SAFETY JAN-18 — As a cautious & protective move — I locked all remaining mutual funds in 401k & IRA to “cash” yesterday (money market) as they have been highly profitable and felt it was good to go out on a 300+ power move … and if we go far beyond, I’m still grateful for excellent gains … but the “fiscal cliff” as craziness by politicians/media could impact things in days ahead. I do see a 1000 point or more down day coming (which is only 4% — and that’s where I want to have dry powder to buy on good dips. I’m not a market timer at all & often guess wrong. I’m more of a “profit locker” in when you get a 25% or 30% gain, lock it — and then rebuild those again … that’s helped me do a little better than average thru years … I’m still buying 100% aggressive mutual in each paycheck 🙂
Just like a future asteroid strike or solar EMP — it ain’t a matter of “if” but “when” a market correction will occur. :ohmy: … But I hope it’s a long ways off — and I love to buy gradually on dips back which mathematically works in safe great gains as well 8)[/b][/color]
[color=red][size=5][b]PPPPLLLLUUNNGGEEE … DOW off about -130 (about half %) … noon news noted
(1) US GOVT shutdown may indeed occur (that made me go 100% “kash” yesterday)
(2) No WALL = No DOCKA (it’s as simple as that sports fans – lol)Same fake news – different day 😉 :whistle: :whistle: :whistle: :whistle:
Only “good news” is that the CRYTOs are ROARING back
After a DRY SHIPS like sell off — are surging back 8)Still Cyrtos are the FIRE & FURY of the markets
and a Wolfe in sheeps clothing in these markets 😉 :woohoo: [/b][/size][/color][size=5]LOWEST JOBLESS weekly claims rate since 1973 8) 🙂
https://www.bloomberg.com/news/articles/2018-01-18/jobless-claims-in-u-s-plunge-to-lowest-weekly-tally-since-1973%5B/size%5DEIA Petroleum Inventories:
Crude -6.9M barrels vs. -3.5M consensus, -4.9M last week.
Gasoline +3.6M barrels vs. +3.4M consensus, +4.1M last week.
Distillates -3.9M barrels vs. +0.1M consensus, +4.3M last week.Initial Jobless Claims -41K at 220K vs. 250K consensus, 261K prior (revised).
Continuous Claims: +76K at 1.952M vs. 1.876M.November Philly Fed Business Outlook: +22.2 vs. +25.0 expected, 26.2 prior.
December Housing Starts: 1.192M vs. 1.275M expected, 1.299M prior (revised from 1.297M).
Building permits 1.302M vs. 1.290M expected and 1.303M prior.The Bloomberg Consumer Comfort Index edged up to 53.8 from 53.5 last week.
The State of the Economy index rose a point to 56.8.
The Personal Finance index decreaesed to 59.5 from 60.2.
The Buying Climate index rose to 45.1 from 44.6.POTUS#45 speech in Pennsylvania was excellent — he indeed passes the COG tests with high IQ 🙂 Even with GOVT shutdown, the military & essential services will still go forward .. may be hard to get into a national park for example, but we’ve had these in past … Still, I hope for resolution plus tax cut effect is so good that it fosters a SURPLUS in future just like old Bill & Newt delivered years ago 🙂
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