October New Home Sales - Amazon Takes Everything Before we get into October new home sales, let's review the overall market action over the past few days. Amazing is gaining an increasingly large piece of the retail pie. It is nabbing a huge percentage of retail growth. As you can see from the chart
Powell Statement - Huge Rally On Powell’s Speech Powell’s speech followed along with what the vice chair stated earlier in the week. It wasn’t a policy change. But the stock market accepted it as a dovish turn. Predicting how markets react to Fed statements is tough. If I would have had the speech a
Same Store Retail - Department Store Black Friday Shopping Bears will claim Black Friday holiday shopping was weak because traffic to stores fell, while bulls will point to great online sales growth. Personally, I think it was a great holiday shopping season. Online sales growth had been sagging a b
Markets - Another Rebound, But Only For Big Caps The S P 500 managed to close positive after spending some of the day negative. It would have been psychologically tough for the bulls to withstand a decline after the big rally on Friday which occurred. Stocks were extremely oversold. With this 0.33%
Trade Growth - Decent November PMI Flash, But Growth Is Weakening Every economic report should be reviewed with the understanding that economic growth is slowing. Good reports are either outliers or possible green shoots for a re-acceleration of GDP growth. The October Markit PMI flash reading was s
Stocks Rally - Big Monday Rally There are often big rallies within corrections and bear markets. Monday was an example of this as tech led the market higher. S P 500 was up 1.55%, Nasdaq was up 2.06%, and Russell 2000 was up 1.16%. This was an oversold rally as the CNN fear and greed index
Durable Goods Report - Orders Driven Down By Defense Aircrafts The October durable goods report was weak. This signals hard economic data is supportive of the recent correction in stocks. The headline matches the takeaway from this report. But the underlying results need to be examined. That one tim
Jobless Claims - Stocks Give Back Early Gains Before getting into Jobless Claims, let's review the week thus far. After a horrid start to the week, it looked like Wednesday would have solid gains heading into the Thanksgiving holiday. However, stocks fell in the afternoon which limited their gains.
Housing - E-commerce Sales Growth Let's go over e-commerce sales before getting into housing starts. Q3 e-commerce sales growth was only 3.1% on a quarter over quarter annualized basis. That fell from 3.6% in Q2. Q2’s growth rate was revised down from 3.9%. This is in tune with the October retail sa
