Q3 Earnings Season Below Average
September Existing Home Sales September existing home sales report was disappointing like housing starts. It’s not disappointing enough to end the positive housing trend, but it is slightly disconcerting. As you can see from the chart below, existing home sales fell from 5.5 million to 5.38 million. It missed the consensus for 5.44 million. It…
Chipotle, Snap, And McDonald’s Earnings Reviews
Another Failed Breakout Attempt Stocks were up slightly during the morning and afternoon, but fell in the last 100 minutes of the trading session. S&P 500 wasn’t on the verge of new record high, but it would have been very close. Instead, because of the selloff the S&P 500 fell 0.36%. One of the blames…
Optimism Oddly High In Philly Fed Manufacturing Report
Philly Fed Index Falls, But Expectations Improve Latest trend in the October regional Fed manufacturing reports appears to be positive, near zero readings. But an improvement in the expectations category which was hammered in the previous month. This trend worked for the Philly Fed report. As you can see from the chart below, the general…
S&P 500 Has Gotten Near Its Record High 17 Times Since July 26th
Stocks Increase Decently On Monday S&P 500 seems to be attached to the 3,000 level. Another way of saying this is stocks can’t get to new a record high. On Monday, the S&P 500 was up 0.69%, putting it at 3,007. The index has gotten to within 1% of its record high on July 26th in…
No Recession, But Industrial Production Weakness Continues
Leading Indicators September leading indicators index fell and missed estimates, but it still doesn’t signal a recession is coming. August monthly growth rate was revised down from 0% to -0.2%. The September reading showed a 0.1% decline which missed estimates for a 0.2% gain. It’s surprising to see this report miss estimates by this much…
Beige Book States US Economy Grew At “Slight To Modest Pace”
Stocks Fall Slightly Despite Bad News It's surprising how well stocks held up on Wednesday. Especially considering the fact that the retail sales report missed estimates. And the Chicago Fed President called for no more rate cuts this year and next year, just like the FOMC. It’s interesting because whenever any bad news comes out…
September Retail Sales Growth Misses Estimates
Potential Winners & Losers Of Dem Debate The Democratic debate on Tuesday was 3 hours long and included 12 candidates. It was probably a bit too many candidates to have on one stage. Given the slightly higher standards to make the next debate, I’m expecting there to be 2-4 fewer on November 20th. So far,…
Earnings Help Get The S&P 500 Near 3,000 Again
Stocks Rally On Earnings Bank stocks helped lift the overall market higher because of the steepening yield curve and their good earnings reports. I’ll review the earnings reports later in this article. S&P 500 was up 1% to 2,996. It is back near its favorite spot which is 3,000. It hugged 3,000 for much of…
Redbook Same Store Sales Growth The Worst Since July 2018
Slight Improvement In Empire Fed Index October Empire Fed manufacturing index was just like the University of Michigan consumer confidence index in that it was expected to fall, but it rose. Empire Fed index was different because on an absolute basis it was weaker. Specifically, expectations were for it to fall from 2 to 0.8…
Phase 1 Trade Deal Isn’t A Deal: Buy The Rumor Sell The News
Stocks Rise On Phase 1 Deal The stock market has had many rallies and dips in the past few weeks on trade news and rumors. It was apropos that there were 2 more twists on the day of the meeting with the Vice Premier. As you can see from the chart below, positive trade rumors…
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