Market Weekly: Oct 14 – Oct 20 2018

Viewing 15 posts - 16 through 30 (of 40 total)
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    US August JOLTS job openings 7136K vs 6900K expected

    New record for JOLTS, Prior was 6939K

    Hires 5784K vs 5679K prior
    Separations 5706K vs 5596K prior
    Quits 3577K vs 3608K prior
    Layoffs 1798K vs 1622K prior


    US October NAHB housing market index 68 vs 66 expected, Prior 67

    Gauge of buyer traffic climbs to highest since Feb at 53 vs 49 prior
    Six-month sales outlook to 75 vs 74 prior


    [size=5][color=green]Voila! European Stock Markets Rebound

    France CAC +1.5%
    Germany Dax +1.4%
    Italy FTSE MIB +2.23%
    Portugal PSI20 +0.93%
    Spain Ibex +1.7%
    UK FTSE +0.4%


    [color=limegreen][size=6][b]YAY – SUPER GREEN in Europe
    as “PIIGS can FLY“[/b][/size][/color] πŸ˜‰ πŸ˜† πŸ˜† πŸ˜† πŸ˜† πŸ˜†


    [size=6][b][color=limegreen]WOW – SUPER GREEN 8)
    Dow 25,798.42 547.87 2.17%
    S&P 500 2,809.92 59.13 2.15%
    Nasdaq 7,645.49 214.75 2.89%[/color]
    Gold 1,228.20 -2.10 -0.17%
    Oil 71.88 0.10 0.14%[/b][/size]


    High rates biting:

    US MBA mortgage applications w/e. 12 October -7.1% vs -1.7% prior

    Purchase index 224.0 vs 238.0 prior
    Market index 322.1 vs 346.7 prior
    Refinancing index 838.1 vs 921.2 prior
    30-year mortgage rate 5.10% vs 5.05% prior (Highest level since February 2011)


    US Sept housing starts 1201K vs 1210K expected
    Prior 1282K revised down to 1268K

    Housing starts -5.3% m/m


    Building permits 1241K vs 1275K exp
    Prior permits 1229K revised up to 1249K)

    Permits -0.6% m/m


    Atlanta Fed 3Q GDPNow Falls to 3.9% from 4.0%

    The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2018 is 3.9 percent on October 17, down from 4.0 percent on October 15. On October 16, the nowcast of third-quarter real government expenditures growth fell from 2.1 percent to 1.3 percent after the U.S. Department of the Treasury and its Bureau of the Fiscal Service released the Monthly Treasury Statement during the afternoon of the previous day.

    The next report will be released on October 25th


    Still no fear after falling to 2785 after yesterdays 2820 ramp we are back to 2816 on ES ahead of FOMC

    Helmholtz Watson

    Meanwhile across the pond…

    EU leaders drop plan for Nov 17 – 18 Brexit summit though given the deal has been talked about as having been done but now they have moved the deadline to December, The longer this goes the more a hard Brexit is on. How long will May entertain Barnier?


    [quote=”CautiousInvestor” post=8395][color=limegreen][size=6][b]YAY – SUPER GREEN in Europe
    as “PIIGS can FLY“[/b][/size][/color] πŸ˜‰ πŸ˜† πŸ˜† πŸ˜† πŸ˜† πŸ˜†

    Hopefully those PIIGS will continue to fly. FWIW, according to BIS data France has the greatest exposure to Italy.

    CI have been thinking about you and the Virginia deer, as I was grazing somewhat heavily (for me) in recent days on SPX index funds. Always do not like when technicals were broken as strongly as they were for 200 day SMAs, but hopefully looking at technical data we had a capitulation day last Wednesday then hit pretty good oversold conditions on Friday of last week. The market like unlike driving a car is always much easier looking in the rearview mirror. πŸ˜‰


    [size=6][b][color=red]Dow 25,706.68 -91.74 -0.36%
    S&P 500 2,809.21 -0.71 -0.03%
    Nasdaq 7,642.70 -2.79 -0.04%[/color]
    Gold 1,225.60 -1.80 -0.15%
    Oil 69.95 0.20 0.29%[/b][/size]


    US October Philadelphia Fed Manufacturing Index +22.2 vs +20.0 expected, Prior 22.9

    A slowdown was seen in new orders (down 2 points to 19.3) while shipments (up 5 points to 24.5) and employment (up 2 points to 19.5) increased. Meantime, the current inventories index, unfilled orders and delivery times were almost unchanged with all index near zero. Expectations for the next six months remained optimistic.

    Philadelphia Fed Manufacturing Index in the United States averaged 9.06 Index Points from 1968 until 2018, reaching an all time high of 58.50 Index Points in March of 1973 and a record low of -57.90 Index Points in December of 1974.

    Prices paid 38.2 vs 39.5 prior
    New orders 19.3 vs 21.4 prior
    Employment 19.5 vs 17.6 prior


    S&P 500 DROPS BELOW 200-DMA 2,768 to 2758 Will IT BUST

    Blood On The Tracks

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