Global Macro Perspectives
Only two additional natural gas drilling rigs last week were added to already operating ones: 15 additional crude oil rigs. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly U.S. Rig Count Chart 3. Baker Hughes Monthly World Rig Count
Although I don’t agree with every piece of trading advice it can be derived from the piece; todays economic commentary by Gluskin Sheff’s David Rosenberg is one of the most impressive research pieces I have ever read. Link.
Personal income was flat in February vs. the +0.1 consensus and January reading of also +0.1%. Consumer spending for February came out at consensus of 0.3%; the prior reading was 0.5%. Anemic figures. Chart 1. U.S. Personal Income Chart 2. U.S. Consumer Spending
Important U.S. earnings this week: Monday: Cal-Maine Foods (CALM), Neogen (NEOG), Oxford Industries (OXM), Skyline (SKY), Apollo Group (APOL), AZZ (AZZ), Kid Brands (KID) Tuesday: HB Fuller (FUL), SAIC (SAI) Wednesday: Cascade (CASC), Immucor (BLUD), Micron Technology (MU), Global Payments (GPN), Lindsay Corporation (LNN), UniFirst (UNF), Acuity Brands (AYI) Thursday: CarMax (KMX), Jos. A Bank […]