Global Macro Perspectives
HMI for July came out at 13 vs. 14 in July. Consensus was at 15. All components edged lower except traffic of perspective buyers which remained unchanged. Chart 1. NAHB / Wells Fargo Housing Market Index
Empire State Manufacturing Survey for August came out at 7.1 vs. 8.0 consensus and 5.08 prior reading. Again bellow consensus. Chart 1. Empire State Manufacturing Survey
U.S. railroads originated 284,507 carloads for the week ending August 6, up 3.7% compared with the same week in 2009, but down 11.3% compared with 5-year average. Week over week change was -5.3%. Chart 1. Association of American Railroads U.S. Freight Carloads Total
Number of crude oil drilling rigs rose for 25 for the week ending August 13, 2010; Number of natural gas drilling rigs rose for 9 rigs in the same time frame. 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
Important U.S. earnings this week: Monday: The Valspar Corporation (VAL), Urban Outfitters (URBN), Agilent Technologies (A), Lowe’s Companies (LOW), Sysco (SYY) Tuesday: Wal-Mart Stores (WMT), Analog Devices (ADI), Abercrombie & Fitch (ANF), The TJX Companies (TJX), The Home Depot (HD) Wednesday: Applied Materials (AMAT), Deere & Co. (DE), PetSmart (PETM), BJ’s Wholesale Club (BJ), NetApp […]
Baltic dry index rose 21.6% last week; Capesize Index gained 46.3%; Panamax Index rose 11.0%; Supramax and Handysize Indexes gained 4.7% and 4.1% respectively. Chinese steel mills resumed with iron ore purchases. Chart 1. Baltic Dry Indexes Relative Performance Chart 2. Baltic Dry Index Chart 3. Baltic Dry Index Components