Global Macro Perspectives
U.S. personal income rose 0.2% in July vs. 0.3% consensus and revised 0.0% June reading. On YoY level the personal income is up 3.0%. U.S. consumer spending also rose 0.4% in July vs. 0.3% consensus and 0.o% prior reading. On YoY level the consumer spending is up 3.4%. U.S. personal savings as a percentage of […]
(For The Week Ending August 20, 2010) U.S. railroads originated 296,634 carloads, up 7.3% compared with the same week in 2009, but down 8.1% compared with 5-year average. Week over week change was +0.2%. Chart 1. Association of American Railroads U.S. Freight Carloads Total
(For The Week Ending August 27, 2010) Number of crude oil drilling rigs rose for 17; Number of natural gas drilling rigs fell for 12. 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: SWS Group (SWS), Jos. A Bank Clothiers (JOSB), Donaldson Company, Inc. (DCI), Volt Information Sciences (VOL) Tuesday: ABM Industries (ABM), Applied Signal Technology (APSG) Wednesday: Brown-Forman (BF-B), Greif (GEF), Joy Global (JOYG), Oxford Industries (OXM), Martek Biosciences (MATK), Collective Brands (PSS), HJ Heinz Co. (HNZ), SAIC (SAI), Genesco Inc. […]
Baltic dry index fell 1.6% last week; Capesize Index fell 3.6%; Panamax Index fell also 3.6%; Supramax and Handysize Indexes gained 1.6% and 1.0% respectively. I added 3 new charts below. Iron ore and steel inventory (5 cities only, but I think it should work as a proxy) and iron ore price. The fundamentals are […]
Baltic Dirty Tanker Index fell 5.5%; Baltic Clean Tanker Index fell 0.4%. Supply is overwhelming demand, rates are approximately at ship operating costs, I don’t think further comment is needed. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
(For The Week Ending August 20, 2010) ECRI Weekly Leading Index for week ending August 20 was reported down 9.9%. Prior reading was revised (again) from -10.0% to -10.1%. Chart 1. ECRI Weekly Leading Index
I was unable to post this on Friday…so I’m posting it now, just for the record… U.S. GDP Q2 growth was revised from 2.4% to 1.6%. The consensus was at 1.3%, Q1 reading was at 2.7%. Revision not as big as expected, but the slowdown is materializing in official data. Chart 1. U.S. Real GDP & Percent […]