Market Weekly: Oct 30 Sept 3 2017

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    Japan’s Nikkei average closed at a 21-year high Friday
    Toronto Stock Exchange’s benchmark index closed at record high Friday
    With 45% of the constituents of the S&P 500 Index having reported Q3 earnings, the blended estimate for aggregate year-over-year earnings growth is 5.3%. Excluding the energy sector, the earnings growth estimate is 3.0%. The blended aggregate revenue growth projection for the quarter is 4.8%. However, stripping out energy, revenue is expected to rise 3.9%.

    Illinois’s issuance of $4.5 billion of new general obligation bonds on Wednesday, was the largest deal in the muni market since 2009
    The European Central Bank (ECB) announced that will halve its bond-buying program to €30 billion from €60 billion a month from January through September 2018, or longer, if necessary, until inflation is revived.[hr]
    China’s recently unveiled leadership team for the next five years could help Beijing overhaul the country’s economy, according to Moody’s Investors Service. The new slate of leaders and a greater concentration of power for President Xi Jinping will give China’s new leaders more room to tackle longstanding problems like promoting higher-quality growth and reducing inequality, the ratings agency said.
    The South African rand fell about 4% this week amid political tensions surrounding the inaugural budget presentation from the country’s new finance minister Malusi Gigaba.[hr]
    Mexico’s central bank intervened this week to support the Mexican peso, auctioning $4 billion in swaps through December 6, to quell the peso’s recent volatility. The auction represents an increase to the $20 billion swap program announced in February.


    ^^^^ +3 and +3 Thanking our EDITOR & CHIEF for excellent insight for this new week ahead … and we will all need plenty of coffee after the World Series last night 🙂


    Indeed – and for all those that say baseball is boring – on my.


    US Personal Income (MoM) Sep: 0.40% (est 0.40%; prev 0.20%)
    US Personal Spending (MoM) Sep: 1.00% (est 0.80%; prev 0.10%)
    US Real Personal Spending (MoM) Sep: 0.60% (est 0.50%; prev -0.10%)
    US PCE Deflator (MoM) Sep: 0.40% (est 0.40%; prev 0.20%)
    US PCE Deflator (YoY) Sep: 1.60% (est 1.60%; prev 1.40%)
    US PCE Core (MoM) Sep: 0.10% (est 0.10%; prev 0.10%)
    US PCE Core (YoY) Sep: 1.30% (est 1.30%; prev 1.30%)

    and that is why I had the Janet meme for the weekly market post

    US not hitting the 2% target


    At the close
    Dow -0.37% to 23,348.18. S&P -0.33% to 2,572.28. Nasdaq -0.03% to 6,698.62.
    Treasurys: 30-year +0.57%. 10-yr +0.23%. 5-yr +0.15%.
    Commodities: Crude +0.45% to $54.14. Gold +0.38% to $1,276.67.
    Currencies: Euro +0.43% vs. dollar. Yen -0.49%. Pound -0.66%.


    [size=5]some minor profit taking today ….
    While the BULLS sleep
    there could be some shearing of the SHEEP

    Be Cautious but have not fear
    as 2017 ain’t your typical kind of year[/i][/size]


    I went to bed early last night and fully recharged now

    expect a green finish across the board


    Top executives from Facebook, Twitter and Google will face questions from Congress on Tuesday afternoon over how their platforms might have been used by Russia to meddle in U.S. politics.

    The execs will testify at 2:30 p.m. ET before a Senate Judiciary subcommittee.

    Helmholtz Watson

    This Russian probe is astounding fueling all the ‘I waz robbed’ by Clinton – yet barely a mention of all the news that keeps coming out regarding her and Russia and Uranium etc – amazing really


    I tweeted this out 25 mins ago

    The Plot Against America


    lots of economic data to digest today

    BoJ Interest Rate Held at -0.1%
    Japan BoJ Core CPI (YoY): 0.5%, Expected: 0.5%, Previous: 0.6%
    Australia ANZ Roy Morgan Consumer Confidence Index 29-Oct: 113.4 (prev 113.3)
    New Zealand Building Permits (MoM) Sep: -2.3% (prev 10.2%)
    South Korean Cyclical Leading Index Change Sep: -0.2 (R prev 0.1)
    South Korea Industrial Production SA (MoM) Sep: 0.1% (exp 2.4%; R prev 0.1%)
    South Korea Industrial Prod (YoY) Sep: 8.4% (exp 4.8%; R prev 2.3%)
    Spain Current Account Balance (EUR) Aug: 2.61B (prev 3.0B)
    Italy Unemployment Rate Sep P: 11.10%
    Italy CPI EU Harmonized (YoY) Oct P: 1.10% (est 1.30%; prev 1.30%)
    Italy CPI EU Harmonized (MoM) Oct P: 0.00% (est 0.20%; prev 1.80%)
    Italy CPI NIC Incl. Tobacco (YoY) Oct P: 1.00% (est 1.30%; prev 1.10%)
    Italy CPI NIC Incl. Tobacco (MoM) Oct P: -0.20% (est 0.10%; prev -0.30%)
    France GDP (QoQ) Q3 P: 0.5% (exp 0.5%; R prev 0.6%)
    France GDP (YoY) Q3 P: 2.2% (exp 2.1%; prev 1.8%)
    France Consumer Spending (MoM) Sep: 0.90% (est 0.60%; prev R -0.20%)
    France Consumer Spending (YoY) Sep: 2.80% (est 1.90%; prev R 1.30%)
    France PPI (YoY) Sep: 2.10% (prev R 1.90%)
    France PPI (M/M) Sep: 0.50% (prev 0.40%)
    France CPI EU Harmonized (YoY) Oct P: 1.20% (est 1.20%; prev 1.10%)
    France CPI EU Harmonized (MoM) Oct P: 0.10% (est 0.10%; prev -0.20%)
    France CPI (YoY) Oct P: 1.10% (est 1.00%; prev 1.00%)
    France CPI (MoM) Oct P: 0.10% (est 0.10%; prev -0.20%)
    Eurozone GDP SA (QoQ) Q3 P: 0.60% (est 0.50%; prev R 0.70%)
    Eurozone GDP SA (YoY) Q3 P: 2.50% (est 2.40%; prev 2.30%)
    Eurozone CPI Estimate (YoY) Oct: 1.40% (est 1.50%; prev 1.50%)
    Eurozone CPI Core (YoY) Oct P: 0.90% (est 1.10%; prev 1.10%)
    Eurozone Unemployment Rate Sep: 8.90% (est 9.00%; prev R 9.00%)
    [color=red]Canada GDP (MoM) Aug: -0.10% (est 0.10%; prev 0%)
    Canada GDP (YoY) Aug: 3.50% (est 3.60%; prev R 3.90%)[/color]
    Canada Industrial Product Price (MoM) Sep: -0.30% (est 0.20%; prev R 0.40%)
    Canada Raw Materials Price Index (MoM) Sep: -0.10% (est 0.30%; prev R 0.90%)
    US Employment Cost Index (QoQ) Q3: 0.70% (est 0.70%; prev 0.50%)
    US Case-Shiller 20-city price index +5.9% vs +6.0% YoY expected
    [color=green]US Chicago PMI Oct: 66.2 (est 60; prev 65.2)
    US Conference Board October Consumer Confidence, 125.9 vs. 120 expected[/color]


    Going to have to hit the candy early to get through that 🙂


    The Dow has gone 51 consecutive trading days without a 1% intraday move.

    That’s a new record.



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