Economy – Additions & Updates Additions – spending, factory orders Updates – jobs, housing, sentiment, GDP Asset Allocation – Additions & Updates Additions – none Updates – none Economic Summary: Jobs – payrolls: small increase, layoffs: large increase Housing – vacancy rates: low (yet not historically lows) Sentiment – falling Spending – falling Factory Orders – falling / recessionary Q3 GDPNow Forecast – 1.0%…
Positive price momentum is in short supply these days among the major asset classes. Is that a bearish signal? Well, let’s put it this way: the current technical profile doesn’t inspire a lot of confidence about the near-term outlook for asset prices. Granted, there are still pockets of strength. In particular, US stocks overall continue to post…
We published a note on Malibu Boats (MBUU) back in January and didn’t love the IPO. In short it seemed fully valued at the proposed IPO price. The IPO was a success and the shares have traded up to the current $19/share so it’s worked. But we wondered “where does this go from here?” As usual…
OVERNIGHT MARKETS AND NEWS September E-mini S&Ps (ESU15 +0.41%) are up +0.29% on increased M&A activity led by a 17% jump in Precision Castparts in pre-market trading on reports that Berkshire Hathaway was in talks to buy the company. European stocks are up +0.55%, led by a +1.2% increase in ASML Holding NV, which boosted technology…
“I’ve always acted alone. Americans like that immensely.” – Henry Kissinger Have you seen Henry Kissinger lately? At 92, he’s as fluent as ever on foreign affairs. It makes you wonder whether, even at this advanced stage of life, he could do a better job managing American foreign policy than our current leaders. This brings me…
Following last week’s bad news for the economy (terrible ADP private payrolls, confirmed by a miss in the NFP) which also resulted in bad news for the market which suffered its worst week in years, many were focused on how the market would react to the latest battery of terrible economic news out of China…
Economies across the globe seem to be recovering albeit slowly. Japan as well is moving along moderately with financial numbers rising beyond expectations at the end of the 2nd quarter. In its just released monthly report of Recent Economic and Financial Developments, the BOJ reversed its previous estimates of economic growth for the world’s third…
For the past 6 years, the United States market has been running with the bulls. However, the year 2015 seems to be bringing about a reversal. Throughout the year, we’ve seen declines in United States stocks. However, when investors pull money out of one area, it tends to go to another; and in this particular…
The Labor Department reported the economy added 215,000 jobs in July. That’s well below the 260,000 monthly additions posted in 2014, and new employment opportunities and wage gains will continue depressed for the balance of this year and next. Previously the Commerce Department reported GDP grew 2.3 percent in the second quarter. That figure will…
The US dollar was unable to sustain its pre-weekend gains despite an employment report that was generally recognized to be sufficient to keep the Federal Reserve on course to raise rates next month. However, the poor price action has not seen follow through dollar selling. A consolidative tone has emerged as the markets await this week’s…
