Succinct Summations for the week ending January 19th, 2017: Positives. 1. Major US Stock indices set new record highs; 2. Jobless claims fell to 220k, the lowest reading in 45 years; 3. Industrial production rose 0/9% m/o/m, well above the 0.4% expected increase. 4. The housing market index fell from 74 to a still strong…
Succinct Summations for the week ending February 9th, 2017 Positives: 1. Could have been worse: Bad week ends with Friday afternoon rally… 2. Jobless claims come in at 221k, down from 230k previously and below the 235k expected 3. ISM non-mfg index increased to 59.9, the strongest reading in its 20-year history 4. Chain store… Read More The post Succinct Summation of Week’s Events for 2.9.18 appeared first on The Big Picture.
click for ginormous graphic Source: Deutsche Bank Securities Torsten Sløk always brings the good stuff: “After a stellar 2017 and an even stronger January, risk assets have undergone a sharp pullback in the last week. Initially triggered by higher rates as markets repriced inflation expectations higher, the episode evolved into a technical spout of… Read More The post Pullbacks Are Healthy. . . appeared first on The Big Picture.
Very interesting discussion from Mohamed A. El-Erian, who gives these three bulleted lessons investors should be learning from the current shift in volatility: 1. Long periods of market calm create the technical conditions for violent air pockets. 2. Crowded trades can be a lot more unstable than most investors expect. 3. During market turmoil, investor… Read More The post El-Erian: Lessons for Investors in Turbulent Markets appeared first on The Big Picture.
The Signs of a Market Blip or Something Worse The bulls probably still rule, but volatility is back and so are ups and downs. Bloomberg, February 5, 2018, 9:28am The market sell-off that started last week has made investors nervous. A quick skim of the headlines reflects fears that the bull market is… Read More The post Tops & Bottoms appeared first on The Big Picture.
Succinct Summations for the week ending February 2nd, 2017 Positives: 1. Nonfarm payrolls rose from 148k previously to 200k, above the 175k expected. 2. Average hourly earnings rose 2.9%, the highest since 2009. 3. Personal income rose 0.4% m/o/m, above the 0.3% expected increase. 4. PMI manufacturing index came in at 55.1, near a 3-year… Read More The post Succinct Summation of Week’s Events 2.2.18 appeared first on The Big Picture.
Source: Bloomberg Via Dave Wilson: The longest-ever streak without a 5 percent drop in the S&P 500 Index may end with nothing more than a dip, if history is any indication. Tuesday was the 568th day since the S&P 500 has been down that far, according to Sam Stovall, CFRA Inc.’s chief investment… Read More The post How Do Record-setting S&P 500 Streaks End? appeared first on The Big Picture.
I am participating in Jack Schwager’s FundSeeder event a week from today. You can read all about it here; the full speaker list is after the jump — its a pretty great group discussing all sorts of really interesting things related to investing and trading. Check it out. The post Virtual Trader Summit appeared first on The Big Picture.
Why Markets Love Trump’s Tax Cuts Put aside partisan feelings and recognize that the economy is getting a major stimulus. Bloomberg, January 29, 2018 It has barely been a month since the Tax Cuts and Jobs Act of 2017 passed. Despite a volley of criticism over the bill, Mr. Market has voted with his feet.… Read More The post Trillion and a Half Dollar Party appeared first on The Big Picture.
Succinct Summations for the week ending January 26th, 2018 Positives: 1. Markets closed at another set of record highs. 2. Consumer spending rose by 3.8%, up from 2.2% previously and above the 3.6% expected increase. 3. Durable goods orders rose 2.9% m/o/m, above the 0.6% expected increase. 4. New home sales fell 9.3% from a… Read More The post Succinct Summations of Week’s Events for 1.26.18 appeared first on The Big Picture.
Interesting set of charts: The three largest offerings in 2017 had negative returns. Snap, the biggest offering of the year and the second biggest U.S. IPO of all time, showed the worst return of the group. U.S. Venture Capital Swells and Spreads Source: Bloomberg Here’s every U.S. startup in Bloomberg’s database… Read More The post IPO Offer Sizes and Returns appeared first on The Big Picture.
This is the web version of the WSJ’s daily economic newsletter. You can sign up here. Today in Real Time Economics, Apple steps up U.S. investment, cities compete for tech jobs, a government shutdown looms, the Dow breaks another record while Bitcoin tumbles, and China’s economy sees its first growth acceleration in seven years. APPLE OF TAX LAW’S EYE Apple Inc. will pay a one-time tax of $38 billion on its overseas cash and ramp up spending in the U.S. The move follows a major overhaul of the U.S. tax code, which offered an incentive for companies to bring home offshore holdings. The tech giant plans to invest $30 billion in capital spending in the U.S. over five years, creating more than 20,000 jobs. Does this mark a tipping point for offshore cash hoards and a potential boon for the economy? It’s not clear if Continue reading "Real Time Economics: Apple’s Investment | Cities Vie for Tech Hubs | Federal Shutdown Looms | China GDP"
Succinct Summations for the week ending January 12th, 2018. Positives: 1. All major U.S. stock indexes hit all-time highs this week. 2. Wholesale trade rose 0.8% m/o/m, above the 0.7% expected increase. 3. Retail sales rose 0.4%, below the 0.5% expected; November was revised 0.1% higher to a 0.9% increase. 4. Core CPI rose 0.3% m/o/m, above… Read More The post Succinct Summation of Week’s Events 1.12.18 appeared first on The Big Picture.
Succinct Summations for the week ending January 5th, 2018 Positives: 1. Stocks are off to a great start this year – all major U.S. indices hit fresh all-time highs. 2. Average hourly earnings increased by 0.3% m/o/m, above the 0.1% expected change. 3. Construction spending rose 0.8%, above the 0.6% expected. Single-family homes rose a… Read More The post Succinct Summation of Week’s Events 1.5.18 appeared first on The Big Picture.
Taking Stock of a Very Weird Year in Markets Rarely have investors had such consistent, steady gains. That bodes well for the future. Bloomberg, January 3, 2018, 11:32 AM EST Last year was just plain weird. I am not referring to politics, although that certainly was one for the ages. Rather, I mean the technical state of… Read More The post 2017 Was a Technically Unusual Year appeared first on The Big Picture.
Succinct Summations for the week ending December 29th, 2017 Positives: 1. Stocks end the year strong, with the S&P 500 gaining 20%. 2. October Case-Shiller home price index rose 0.7% m/o/m and 6.4% y/o/y, both higher than expected. 3. Chicago PMI rose from 63.9 to 67.6, above the 62.5 expected. Negatives: 1. Consumer confidence fell… Read More The post Succinct Summation of Week’s Events for 12.29.17 appeared first on The Big Picture.