Fed Decides To Maintain Rates Fed - In a widely expected move, the Fed decided to keep rates steady. They are currently in the range between 1.75% and 2%. The statement was short again as Powell wants to use press conferences to explain policy instead of explaining every detail in the FOMC statement
Union Private Sector Workers - Income Spending Growth Union Private Sector Workers - Income and spending growth is also included in the PCE report. It implies continued steady economic growth as the personal income growth was 0.4% month over month. This met estimates and was the same as last month.
Apple Grows EPS - Stocks Were Up, Ending Their Best Month Since January Apple Grows EPS - The end of the month can be a curious time because there is occasional window dressing where fund managers try to make their portfolio look good for their investors. The action on Tuesday was fairly normal. Jul
Inflation Misses Estimates - Core PCE Below 2% Target Inflation Misses Estimates - The all important June PCE report, which is chock full of useful economic data, was released Tuesday. In this article, I will look at the inflation section of the report. It is the most important part since the Fed is
Tech Stocks Swoon - Tech Leads Market Lower Tech Stocks Swoon - The stock market sold off on Monday like I expected because it reached overbought territory on Thursday. The S P 500 was down 0.58%. The part of the selloff I was surprised by the was the big decline in the tech stocks as the Nasdaq
Final July Regional Fed Manufacturing Report The Dallas Fed manufacturing report is the last of the regional Fed readings for July. This means we can make educated guesses on how the ISM manufacturing PMI will turn out. I expect it to be weaker than June, but still show strong growth. The Dallas gen
Stocks Fall After Getting Overbought The stock market fell on Friday as the S P 500 was down 0.66%, the Russell 2000 was down 1.89%, and the Nasdaq was down 1.46%. Twitter and Intel were down 20.5% and 8.6% respectively which hurt the Nasdaq. The tech sector was the worst performer as it was down 1.
Facebook Craters In my article on Facebook’s earnings report, I said Facebook’s market cap loss was going to be historic if it didn’t rally sharply during Thursday’s trading session. It closed down 18.96% which means it lost about $114.5 billion in market cap in one day which is the largest loss in
Slight Weakness In Flash PMI Tuesday’s reading of the flash PMI for July was encouraging for manufacturing, but the composite headline number missed estimates because of services. The composite reading was 55.9 which missed estimates for 56.3 and was below last month’s report of 56. The manufacturin
