Very Strong Jobs Report Because Of Positive Revisions Let’s look at it the October labor report. This employment report was very strong. It explains why stocks rallied sharply on Friday. And it fully explains why the CNN fear and greed index hit 80 on Friday. There were fears that this jobs report w
Hugely Positive Day For Stocks Friday’s action really stuck it to the bears and made them feel terrible. S P 500 hit a new record high as it increased 0.97%. Stocks have had an amazing year and even the returns since the peak in January 2018 aren’t looking bad. S P 500 up 6.75% from that peak.
Job Cuts Increase (YTD Total Highest Since 2015) Job cut reports have been quite sold in recent months versus the start of the year. October reading wasn’t great, but also wasn’t as bad as earlier in the year. This report was basically more of the same. Job cuts are modestly elevated, but not worris
Stocks Decline Slightly On Thursday Stocks probably fell on Thursday because they were overbought. S P 500 to fall 0.3%. Besides being overbought, the negative headline that hurt stocks was the Bloomberg report. It stated that China is doubtful there will be a long term trade deal. President Trump t
Very Weak Chicago PMI Bears are having a field day with the Chicago PMI report because the PMI fell from 47.1 to 43.2. That missed estimates for 48.3 and the low end of the consensus range which is 47.6. A big negative stat being put out is that 8 of 9 times the PMI was
Stocks Rise Slightly After FOMC meetings, Powell’s press conferences have sent stocks lower on average. This time Powell didn’t push stocks lower as the S P 500 was up 0.33% on Wednesday. There wasn’t much room for him to surprise markets negatively. The market expected a cut and a pause afterwards.
MBA Housing Applications On the heels of the very strong September pending home sales report, the MBA housing applications report in the week of October 25th showed solid improvement after yearly purchase growth dipped in the previous week. Specifically, the composite index had weekly growth of 0.6%
Small Reversal As Market Gets Ready For Rate Cut The stock market fell slightly on Tuesday which was a reversal from its early morning action. S P 500 fell 8 basis points. From its morning peak, it fell 0.33% to the close. It was hurt by Alphabet all day which closed down 2.12% after missing EPS
Redbook Same Store Sales Growth Inches Up In the week of October 26th, the Redbook same store sales growth rate improved from 4.3% to 4.5%. That’s the 2nd straight week where it increased 2 tenths. It’s still not a great reading though as growth was in the 5% to 6% range in August and September. It
S P 500 Finally Hits Record High Monday was an amazing day for stocks. MSCI all country world index was up 0.6%. It’s now up 18.27% year to date. It is only down 2.17% from its record high in January 2018. It’s closing in on that high as investors anticipate a global cyclical recovery. A main
