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Trade Deficit Widens, Exports Flat, Imports Rise: Trump Will Howl
For October, exports were down less than $0.1 billion while imports rose $3.8 billion. The Census Bureau report on International Trade in Goods and Service for October 2017 shows that the goods and services deficit was $48.7 billion in October, up $3.8 billion from $44.9 billion in September, revised. October exports were $195.9 billion, down less than $0.1 billion from September exports. October imports were $244.6 billion, $3.8 billion more than September imports. Average Goods and Services Deficit for 3 Months Ending in October Average exports of goods and services increased $0.8 billion to $195.2 billion in October. Average imports of g... -
Finance 0
The Most Active Equity Options And Strikes For Midday – Tuesday, Dec. 5
Top tickers for midday: BAC, AAPL, PIR, MBI, PSTG, AU, MLCO.... -
Finance 0
Following OPEC, Focus Returns To US Crude Production
Judging by reactions in the crude oil market, last week’s OPEC announcement exceeded expectations. Beyond an extension until the end of 2018, OPEC surprised many by including Libya and Nigeria as part of the cartel’s production limits. Despite earlier rumors regarding Russian reluctance, the country agreed with Saudi Arabia’s push for an extension following King Salman’s landmark visit to Russia earlier this year. Now that OPEC is in the rear view mirror, markets will return to focusing on US crude oil production as well as speculator positioning in the commodity. Bull market remains intact, but US supply remains worrisome As demand g... -
Finance 0
The S&P 500, Dow And Nasdaq Since Their 2000 Highs
This update is in response to a standing request for real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq Composite. It includes the latest monthly close data. Here are two overlays — one with the nominal price, excluding dividends, and the other with the price adjusted for inflation based on the Consumer Price Index for Urban Consumers (which is usually just referred to as the CPI). The charts require little explanation. So far the 21st Century has not been especially kind to equity investors. Yes, markets do bounce back, but often in time frames that defy optimistic expectations. Performance of the SPY ETF The charts... -
Finance 0
November 2017 ISM And Markit Services Remain In Expansion
The ISM non-manufacturing (aka ISM Services) index continues its growth cycle and marginally declined. Markit PMI Services Index slightly declined but remains in expansion. Analyst Opinion of the ISM and Markit Services Survey Both services surveys are in expansion. I would weight the Markit numbers higher which would indicate a slightly slowing service sector. From Bloomberg / Econoday: Consensus Range Consensus Actual Markit Services 54.7 to 55.1 54.7 54.5 ISM Services 58.0 to 59.7 59.0 57.4 From Markit: Service sector business activity growth remains strong in October Service sector output expansion softens to fivemonth low Upturn in ne... -
Finance 0
The “Free Act” Will Hamper The Credit Industry Needlessly
The FREE Act, a bill put forward by Sens. Elizabeth Warren and Brian Schatz that would further regulate the credit reporting industry in the wake of the Equifax security breach, would harm the industry, consumers, and businesses. The FREE Act Is Anything But In September, consumers woke to news their social security numbers and other personal information was very possibly in the hands of cybercriminals thanks to a security failure at Equifax, a company many had never heard of before. In addition to social security numbers, the hackers made off with tens of millions of birth dates, driver’s license numbers, and, in a few cases, credit card n... -
Finance 0
Reduced Trade Terms Salute The Flattened Curve
The Census Bureau reported earlier today that US imports of foreign goods jumped 9.9% year-over-year in October. That is the second largest increase since February 2012, just less than the 12% import growth recorded for January earlier this year. In both monthly cases, however, the almost normal rates of increase which would have at least suggested moving closer to a healthy economy (from the view of US demand) were instead boosted considerably by oil price effects. Removing them, US imports excluding petroleum rose by just 6.7% year-over-year in October. That’s about the same level of expansion as the rest of this year, one that is so far ... -
Finance 0
AutoZone (AZO) Q1 Earnings Beat Estimates, Up Y/Y
AutoZone, Inc. (AZO – Free Report) , the nation’s leading retailer of automotive replacement parts, reported adjusted earnings of $9.96 per share in the first quarter of fiscal 2018 (ended on Nov 18, 2017), beating the Zacks Consensus Estimate of $9.80. Earnings were 6.8% higher than in the year-ago quarter. Revenues AutoZone logged revenues of $2.59 billion, surpassing the Zacks Consensus Estimate of $2.54 billion. Moreover, revenues were 4.9% higher than a year-ago. Estimate Trend & Surprise History Investors should note that the first quarter of fiscal 2018 Zacks Consensus Estimate for earnings have remained unchanged over t... -
Finance 0
Gold Goes From Bad To Worse
Now in its seventh year of its own bear market, gold remains a complete piece of crap, as trendlines break and gold bugs pull out their hair looking at Bitcoin charts. And naturally miners are plunging in sympathy: ... -
Finance 0
Looking Ahead To Jobs Data
This is an important week for economic data in the U.S., but not quite yet. This Friday morning, we shall see the latest non-farm payroll numbers and unemployment rate from the Bureau of Labor Statistics (BLS). We expect to see another strong month of jobs gains pretty much across the spectrum of domestic industries, with even Construction and Energy picking up some of their slack from earlier in the year. In the last read, the unemployment rate fell to 4.1% — the lowest read we’ve seen since the labor market was much, much smaller. Typically, the Wednesday prior to the Friday BLS figures brings the private sector payroll report from ADP ...
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