University Of Michigan Consumer Confidence Falls In Final Reading Final October University of Michigan consumer confidence reading fell from the initial reading. But it was still up sequentially. It’s interesting to see such optimism as the weekly Redbook same store sales reports have recently showe
Stocks As Close To Record As Possible Somehow stocks rallied, but still didn’t reach their record high. S P 500 increased 0.41% to 3,022.55. Record is 3,025.86. Any increase on Monday should break the record. It has been painstaking. For much of the past couple months the S P 500 has been within a c
Weak Kansas City Fed Manufacturing Report Kansas City Fed manufacturing report was worse than the previous 3 regional Fed reports as the current and expectations indexes both fell. Unlike the prior 3 reports, this one has quotes which give us context on the numbers. As you can see from the chart bel
Weak Durable Goods September durable goods orders report was terrible. On a monthly basis, new orders growth was -1.1% which missed estimates for -0.7% and fell from August’s 0.3% growth. The chart below beautifully shows the cycle as it is the 12 month rolling average of the 12 month cumulative cha
Stocks Inch Closer To Record High S P 500 rallied on Thursday, but didn’t reach a new high. There is very sharp resistance at the record high. S P 500 was up 19 basis points to 3,010 which is the highest level since July 30th. It is now about 15 and a half points away from the
Market Rises Slightly On Wednesday Stocks rose slightly on Wednesday as the S P 500 continues to hover near the 3,000 level which is just below its record high. S P 500 rose 0.28% to 3,004.52. Even though the action seems boring, the intraday session was interesting. It was the exact opposite of Tue
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.
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 bla
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 ca
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
