Traders Market Weekly: Holiday Shopping Season Kicking Off

Viewing 15 posts - 46 through 60 (of 88 total)
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  • #67760
    Truman
    Participant

    South Korea’s October Unemployment Rate 2.5% (expected 2.7%; last 2.6%)

    #67761
    Truman
    Participant

    Australia’s Q3 Wage Price Index 1.3% qtr/qtr, as expected (last 0.9%); 4.0% yr/yr (expected 3.9%; last 3.6%)

    Australia’s wages grew 1.3% qtr/qtr in Q3, matching the fastest rate of growth since 2009.

    #67762
    Truman
    Participant

    New Zealand’s October Electronic Card Retail Sales -0.7% m/m (last -0.8%); -2.0% yr/yr (last 1.6%).
    September Visitor Arrivals 2.4% m/m (last -3.0%)

    #67763
    Truman
    Participant

    Major European indices trade in the green.
    STOXX Europe 600: +0.7%,
    Germany’s DAX: +0.7%,
    U.K.’s FTSE 100: +1.0%,
    France’s CAC 40: +0.6%,
    Italy’s FTSE MIB: +0.5%,
    Spain’s IBEX 35: +0.5%.

    #67764
    Truman
    Participant

    Eurozone’s September Industrial Production -1.1% m/m (expected -1.0%; last 0.6%); -6.9% yr/yr (expected -6.3%; last -5.1%).
    September trade surplus EUR10.0 bln (last surplus of EUR5.9 bln)

    Germany’s October WPI -0.7% m/m (expected 0.2%; last 0.2%); -4.2% yr/yr (last -4.1%)

    Italy’s October CPI -0.2% m/m (expected -0.1%; last 0.2%); 1.7% yr/yr (expected 1.8%; last 5.3%). September trade surplus EUR2.350 bln (last surplus of EUR2.350 bln)

    Germany’s constitutional court ruled that the country’s government illegally reallocated EUR60 bln worth of pandemic-related funds to a climate fund.

    European Central Bank policymaker Centeno said that the governing council must be patient when it comes to its policy moves.

    #67765
    Truman
    Participant

    Price pressures eased in the U.K., as CPI showed no growth in October, slowing the yr/yr growth rate to 4.6% from 6.7%, while house prices were down 0.1% yr/yr in September, representing the first decrease since early 2012.

    U.K.’s October CPI 0.0% m/m (expected 0.1%; last 0.5%); 4.6% yr/yr (expected 4.8%; last 6.7%).
    October Core CPI 0.3% m/m (expected 0.4%; last 0.5%); 5.7% yr/yr (expected 5.8%; last 6.1%).
    October Input PPI 0.4% m/m (expected 0.2%; last 0.6%) and Output PPI 0.1% m/m, as expected (last 0.6%).
    September House Prices -0.1% yr/yr (expected -0.8%; last 0.8%)

    #67766
    Truman
    Participant

    The weekly MBA Mortgage Applications Index climbed 2.8% with refinance applications increasing 2.0% and purchase applications jumping 3.0%.

    #67767
    Truman
    Participant

    Empire Fed November manufacturing index +9.1 vs -2.8 prior

    Prior was -4.6

    New orders -4.9 versus- 4.2 last month
    Shipments +10.0 versus +1.4 last month
    Prices paid +22.5 versus +25.5 last month
    Prices received +11.1 versus +11.7 last month
    Employment -4.5 versus +3.1 last month
    average employee work week -3.8 versus +2.2 last month
    Unfilled orders -23.2 versus -19.1 last month
    Delivery times -6.1 versus -6.4 last month.
    Inventories +9.1 versus -2.1 last month
    Manufacturing is recovering from a recession.

    #67768
    Truman
    Participant

    Total retail sales declined 0.1% month-over-month in October (consensus -0.3%) following an upwardly revised 0.9% increase (from 0.7%) in September.
    Excluding autos, retail sales were up 0.1% month-over-month (consensus -0.2%) following an upwardly revised 0.8% increase (from 0.6%) in September.

    The key takeaway from the report is that it isn’t adjusted for inflation, so it is clear to see that consumer demand for goods in October fell off noticeably from September.%.

    #67769
    Truman
    Participant

    The October Producer Price Index (PPI) also took a market-friendly inflation turn.

    Total PPI was down 0.5% month-over-month (consensus 0.1%) — the biggest drop since April 2020 — following a downwardly revised 0.4% increase (from0.5%) in September. Core PPI, which excludes food and energy, was unchanged month-over-month (consensus 0.3%) following a downwardly revised 0.2% increase (from 0.3%) in September.

    On a year-over-year basis, total PPI was up just 1.3% while core PPI was up 2.4%.

    The key takeaway from the report is that it reflects a sharp moderation in prices at the wholesale level, which should remain relatively subdued barring a future jump in energy prices, as the index for unprocessed goods for intermediate demand was down 1.4%.

    Treasury yields moved a little higher in response, but the move has been modest compared to yesterday’s gains.

    The 10-yr note yield, at 4.47% just before the data, is up seven basis points from yesterday at 4.51%.
    The 2-yr note yield, at 4.85% just before 8:30 a.m. ET, is up six basis points from yesterday at 4.88

    #67770
    Truman
    Participant

    The S&P 500 futures are up 10 points and are trading 0.3% above fair value.
    The Nasdaq 100 futures are up 71 points and are trading 0.4% above fair value.
    The Dow Jones Industrial Average futures are up 42 points and are trading 0.1% above fair value.

    #67771
    Truman
    Participant

    US Sept business inventories +0.4% vs +0.4% expected

    Prior was +0.4%
    Retail inventories ex-autos +0.4% vs +0.3%

    #67772
    Truman
    Participant

    Market Open
    Dow 34924.48 +96.78 (0.28%)
    Nasdaq 14144.72 +50.34 (0.36%)
    SP 500 4509.30 +13.60 (0.30%)
    10-yr Note -29/32 4.529
    NYSE Adv 1865 Dec 810 Vol 124 mln
    Nasdaq Adv 2670 Dec 1237 Vol 1.0 bln

    Industry Watch
    Strong: Utilities, Real Estate, Consumer Staples, Industrials, Materials
    Weak: Information Technology, Energy

    Moving the Market
    — Follow through momentum after post-CPI rally

    — Strong response to Target’s (TGT) better-than-expected earnings report

    — Digesting economic data this morning that conveyed more of a soft landing outlook for the economy

    #67775

    The great SANTA RALLY continues … Thankful for HOUSE OR REP to have great vote on continuing RESOLUTION
    God bless new Speaker of House — as hopeful we can get back to fundamentals in politics & budget in year ahead 🙂

    #67776

    Dow 34,991.21 163.51 0.47%
    S&P 500 4,502.88 7.18 0.16%
    Nasdaq 14,103.84 9.45 0.07%
    VIX 14.15 -0.01 -0.07%
    Gold 1,963.80 -2.70 -0.14%
    Oil 76.53 -1.73 -2.21%

Viewing 15 posts - 46 through 60 (of 88 total)
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