Join us in our weekly market thread.
This weeks U.S. market data includes NFIB small business optimism index (October), Producer and consumer price indices (October), Empire manufacturing survey (November), Retail sales (October), Import and export price indices (October), Industrial production and capacity utilization (October) and Housing starts and building permits (October).
comment section below data
Last Weeks recap
Mortgage applications M1 Initial jobless claims Railroad transport | Oil prices and usage M2 0.210 TED spread -0.040 w/w Shipping transport NYSE ^TRIN |
| Week Dow Jones -0.4% Nasdaq -0.2% S&P 500 -0.2% Russell 2000 -1.3% | YTD Dow Jones 18.5% Nasdaq 25.4% S&P 500 15.3% Russell 2000 8.7% |
Japanese stocks posted ninth consecutive weekly gain that lifted the benchmark Nikkei 225 Stock Average to a 26-year high. The UK FTSE 100 index, Germany’s DAX 30, France’s CAC 40, and Spain’s IBEX 35 all ended the week lower. Canada’s S&P/TSX Composite was at another record high early in the week. US majors ended an eight week win streek with modest loses.
{tab title=”economic data for” color_inactive_handles=”true” outline_handles=”true” outline_content=”true” “open=”true”}
{tab title=”Monday 6″}
Eurozone PPI (YoY) Sep: 2.90% (est 2.70%; prev 2.50%)
Eurozone PPI (MoM) Sep: 0.60% (est 0.40%; prev 0.30%)
Eurozone Sentix Investor Confidence Nov: 34.0 (est 31; prev 29.7)
Eurozone Markit Services PMI Oct F: 55.0 (est 54.9; prev 54.9)
Eurozone Markit Composite PMI Oct F: 56.0 (est 55.9; prev 55.9)
Germany Markit/BME Services PMI Oct F: 54.7 (est 55.2; prev 55.2)
Germany Composite PMI Oct F: 56.6 (est 56.9; prev 56.9)
Germany Factory Orders (MoM) Sep: 1.00% (est -1.10%; prev R 4.10%)
Germany Factory Orders WDA (YoY) Sep: 9.50% (est 7.10%; prev R 8.30%)
France Markit Services PMI Oct F: 57.3 (est 57.4; prev 57.4)
France Markit Composite PMI Oct F: 57.4 (est 57.5; prev 57.5)
Spain Markit Services PMI Oct: 54.6 (est 55.6; prev 56.7)
Spain Markit Composite PMI Oct: 55.1 (est 54.6; prev 56.4)
Italy Markit/ADACI Services PMI Oct: 52.1 (est 53; prev 53.2)
Italy Markit/ADACI Composite PMI Oct: 53.9 (est 54.3; prev 54.3)
Canada Ivey PMI SA Oct: 63.8 (prev 59.6)
- Dow +0.04% to 23,548.94. S&P +0.13% to 2,591.28. Nasdaq +0.33% to 6,786.58.
- Treasurys: 30-year +0.27%. 10-yr +0.1%. 5-yr +0.03%.
- Commodities: Crude +3.11% to $57.37. Gold +0.98% to $1,281.70.
- Currencies: Euro +0.02% vs. dollar. Yen -0.25%. Pound -0.71%.
{tab title=”Tuesday 7″}
China forex reserves end-Oct USD 3.1092trln vs 3.1085trln prev
RBA Leaves Bank Rates Unchanged at at 1.5%
Eurozone Retail Sales (MoM) Sep: 0.70% (est 0.60%; prev R -0.10%)
Eurozone Retail Sales (YoY) Sep: 3.70% (est 2.80%; prev R 2.30%)
US JOLTS Job Openings Sep: 6093 (est 6075; prev 6082)
US October Consumer Credit $20.8B (MoM) vs. $17.5B consensus and $13.1B prior (revised).
US Consumer credit +6.6% YoY, the fastest pace of growth in almost a year.
API: Crude +0.519MM, Gasoline -5.753MM, Distillate -4.949MM, Cushing -0.055MM
- Dow +0.01% to 23,550.88. S&P -0.06% to 2,589.28. Nasdaq -0.27% to 6,767.94.
- Treasurys: 30-year +0.2%. 10-yr +0.01%. 5-yr -0.02%.
- Commodities: Crude -0.23% to $57.22. Gold -0.37% to $1,276.81.
- Currencies: Euro -0.18% vs. dollar. Yen +0.19%. Pound +0.03%.
RSP Permian $RSPP Earnings Show Production Increased 98%
Travel Site Trip Advisor $TRIP Follows Priceline, Crushed 10% After Earnings Miss
Online Travel Group Priceline International Revenue Surges But Guides Lower
China trade balance for October Yuan +254.47bn (expected 280.45bn CNY)
China trade balance for October USD + 38.2bn (prior 39.1bn USD)
China Oct Exports (USD) YoY: +6.9% (est 7.1%)
China Oct Imports (USD) YoY: +17.2% (est 17.0%)
South Korea Money Supply M2 SA (MoM) Sep: 0.20% (prev 0.70%)
South Korea Money Supply L SA (MoM) Sep: 0.20% (prev 0.00%)
France Trade Balance (EUR) Sep: -4669M (est -4680M; prev R -4195M)
France Current Account Balance (EUR) Sep: -3.1B (prev R -1.7B)
Canada Housing Starts Oct: 222.8K (est 211.0K; prev 217.3K)
Canada Building Permits (MoM) Sep: 3.80% (est 1.00%; prev R -5.10%)
US MBA Mortgage Applications (WoW) 03-Nov: 0.00% (prev -2.60%)
US Crude Oil Inventory Change (WoW) 03-Nov: 2237K (est -2708K; prev -2435K)
US Distillate Inventory Change (WoW) 03-Nov: -3359K (est -1000K; prev -320K)
US Gasoline Inventory Change (W/W) 03-Nov: -3312K (est -1900K; prev -4020K)
US Refinery Utilization (W/W) 03-Nov: 1.50% (est 0.45%; prev 0.30%)
Cushing OK Crude Inventory Change (W/W) 03-Nov: 720K (prev 90K)
New Zealand RBNZ leaves the Cash Rate unchanged at 1.75% as expected
- Dow +0.02% to 23,562.09. S&P +0.14% to 2,594.52. Nasdaq +0.32% to 6,789.23.
- Treasurys: 30-year -0.19%. 10-yr -0.13%. 5-yr -0.08%.
- Commodities: Crude -0.7% to $56.80. Gold +0.4% to $1,280.93.
- Currencies: Euro +0.09% vs. dollar. Yen -0.13%. Pound +0.38%.
Earnings Reports:
Encana Earnings Fall With Lower Oil and Gas Production
No Snapback for $SNAP Tanks 19% After Earnings Revenue Miss
China PPI (YoY) Oct: 6.90% (est 6.60% ; prev 6.90%)
Japan Eco Watchers Survey Current SA Oct: 52.2 (est 50.8 ; prev 51.3)
Japan Eco Watchers Survey Outlook SA Oct: 54.9 (est 51.5 ; prev 51.0)
Japan Bankruptcies (YoY) Oct: 7.32% (prev 4.62%)
Japan Tokyo Avg Office Vacancies Oct: 3.02 (prev 3.17)
Japan BoP Current Account Balance (JPY) Sep: 2271.2B (exp 2363.4B ; prev 2380.4B)
Japan BoP Current Account Adjusted (JPY) Sep: 1835.1B (exp 2053.3B ; prev 2266.9B)
Japan Trade Balance BoP Basis (JPY) Sep: 852.2B (exp 832.5B ; prev 318.7B)
Japan Core Machine Orders (MoM) Sep: -8.10% (exp -2.00% ; prev 3.40%)
Japan Core Machine Orders (YoY) Sep: -3.50% (exp 2.00% ; prev 4.40%)
BoJ: Reserve Balance Stands At JPY 325.4 Tln (prev JPY 325.6 Tln)
BoJ: Current Account Balance Stands At JPY 368.9Tln (prev JPY 369.2 Tln)
Australia Home Loans (M/M) Sep: -2.30% (exp 2.00% prev 1.00%)
Australia Investment Lending (M/M) Sep: -6.20% (prev 4.30%)
Australia Owner-Occupier Loan Value (M/M) Sep: -2.10% (prev 0.90%)
Germany Trade Balance (EUR) Sep: 24.1B (est 22.3B; prev R 20.1B)
Germany Current Account Balance (EUR) Sep: 25.4B (est 23.5B; prev R 18.0B)
Germany Exports SA (MoM) Sep: -0.40% (est -1.30%; prev R 2.00%)
Germany Imports SA (MoM) Sep: -1.00% (est 0.30%; prev R 0.80%)
Bank of France Oct industry sentiment indicator 106 vs 105 exp
UK RICS House Price Balance Oct: 1.00% (exp 4.00% ; prev 6.00%)
Canada New Housing Price Index (MoM) Sep:0.20% (est 0.20%; prev 0.10%)
Canada New Housing Price Index (YoY) Sep: 3.80% (est 3.80%; prev 3.80%)
US Initial Jobless Claims (WoW) 04-Nov: 239K (est 232K; prev 229K)
US Continuing Claims (WoW) 28-Oct: 1901K (est 1885K; prev 1884K)
- Dow -0.44% to 23,459.75. S&P -0.37% to 2,584.52. Nasdaq -0.58% to 6,750.39.
- Treasurys: 30-year -0.14%. 10-yr +0.02%. 5-yr +0.06%.
- Commodities: Crude +0.49% to $57.09. Gold +0.22% to $1,286.55.
- Currencies: Euro +0.41% vs. dollar. Yen -0.47%. Pound -0.25%.
{tab title=”Friday 10″}
UK Trade Balance (GBP) Sep: -2.75B (est -4.3B; prev R -3.46B)
UK Visible Trade Balance (GBP) Sep: -11.25B (est -12.8B; prev R -12.35B)
UK Non EU (GBP) Sep: -2.98B (est -5B; prev -4.19B)
UK Industrial Production (MoM) Sep: 0.70% (est 0.30%; prev R 0.20%)
UK Industrial Production (YoY) Sep: 2.50% (est 1.90%; prev R 1.80%)
UK Manufacturing Production (MoM) Sep: 0.70% (est 0.30%; prev 0.40%)
UK Manufacturing Production (YoY) Sep: 2.70% (est 2.40%; prev 2.80%)
UK Construction Output SA (MoM) Sep: -1.60% (est -0.30%; prev R 0.80%)
UK Construction Output SA (YoY) Sep: 1.10% (est 2.20%; prev R 3.90%)
USCurrent Conditions Nov P: 113.6 (exp 116.8; prev 116.5)
- Dow -0.16% to 23,424.27. S&P -0.09% to 2,582.12. Nasdaq +0.01% to 6,750.35.
- Treasurys: 30-year -0.94%. 10-yr -0.34%. 5-yr -0.14%.
- Commodities: Crude -0.59% to $56.83. Gold -0.87% to $1,276.31.
- Currencies: Euro +0.2% vs. dollar. Yen +0.05%. Pound -0.37%.
{/tabs}
Baltic Dry Index
P/Es & Yields on Major U.S. Indexes
Earnings report this week – here is a ticker list of notables
MegaCaps: BRK-A BRK-B WMT TM
LargeCaps: HD CSCO BTI PBR-A BBD AMAT BBDO JD TJX NTES TGT TSN ROST BBY GRFS LB AEG NTAP ENIA LNG SJM ARMK GPS VIAB
MidCaps: SPLK WUBA LPL CPL LTM BERY JHX VEON HP ESLT MIDD SPB AAP YY ACM GGB POST IGT Z TARO SWCH ESGR BSTI WSM JOBS FL SR SID MANU DKS BCPC GSM YRD IBOC HI MTSI ABY MTOR AJRD SBH SFUN