The Atlanta Fed GDPNow model forecast for real GDP growth in Q4 2017 rose to 5.4% on February 1, up from 4.2% on January 29 spurred by manufacturing ISM Report increased forecasts spending and real private fixed-investment growth.
Home Improvement Retailer Lowe’s $LOW like it’s brethren Home Depo t $HD was able to take advantage of last quarter’s natural disasters, with a 6.% increase in sales to revenue of $16.8 billion.
Global industrial equipment manufacturer Caterpillar $CAT reported better than expected third quarter 2017 earnings before the market open Tuesday. $CAT followed up Q1 & Q2 where it crushed earnings and also raised guidance. Shares soared 7% in the pre market.
The destruction wrought by Hurricane Harvey, Irma and Maria has seen a slew of commodities prices go skyward. The most noted are lumber and gasoline. Perhaps the most poignant as we watch recocery as the mountains of sheetrock we see on curbs. The key commodity here is gypsum with its a price determined by a handful of players.
Lumber futures are at 12 year highs after Hurricane Harvey and Irma. Prices have been rallying since the housing crash of 2008 and earlier this year the U.S. administration imposed tariffs on plywood coming from China and lumber coming from Canada. Wildfires across Canada and the western U.S. also pushed prices higher pre hurricanes.
Global industrial equipment manufacturer Caterpillar $CAT reported better than expected second quarter 2017 earnings before the market open Tuesday. $CAT followed up Q1 where it crushed earnings and also raised guidance.