Global Macro Perspectives
Existing Home Sales came at level of 6.2 million vs. 5.7 million consensus and 5.6 million level the month before. Positive figure courtesy of late extension of first time home buyer tax credit (closing required by November) and record low mortgage rates. Chart 1. Existing Home Sales Looking back to the last’s week housing data […]
Important U.S. earnings this week: Monday: Analog Devices (ADI), Atwood Oceanics (ATW), Brocade Communications Systems (BRCD), Hewlett-Packard (HPQ), Nuance Communications (NUAN), Tech Data Corporation (TECD), Tyson Foods (TSN), Valspar (VAL) Tuesday: American Eagle Outfitters (AEO), Barnes & Noble (BKS), Blue Coat Systems (BCSI), H.J. Heinz Company (HNZ), Hormel Foods Corporation (HRL), J. Crew Group, Inc.(JCG), […]
Belisarius is overwhelmed with the work in his new company + he has traveled to Vienna yesterday, so he’s a little bit sidelined concerning the market action. I will post only a few interesting articles in last couple days. Trichet Says ECB Will Withdraw Liquidity Gradually, Bloomberg Fed Makes Monitoring Bank Capital Foremost Concern, Bloomberg […]
Crude oil stocks rose 0.9 million barrels. Gasoline stocks fell 1.8 million barrels. Distillate stocks fell 0.3 million barrels. Other oil stocks edged higher 2.8 million barrels. Total stocks down 4.2 million barrels. Refinery utilization rate has hit the new low of 79.44% vs. 79.93% the week before. Refinery inputs fell to 14 million barrels, […]
Ben Bernanke speech yesterday has win over the markets and the positive vibes were hitting the markets even today. Nothing special in the speech, both bulls and bears had their moments, but as bulls are currently in the lead the print was positive in all. Interesting, Mr. Bernanke admitted influencing stock markets: …Partly as the […]
Could well be. Today’s extension of the rally was on the back of retail sales figures. Retail sales rose 1.4% in October vs. 0.9% consensus and 1.5% decrease in September. Retail sales ex. autos rose 0.2% vs. 0.4% consensus and 0.5% growth in September. Obviously the low base in September reading (cash-for-clunkers ended in August) […]
Important U.S. earnings this week: Monday: Carter’s (CRI), Lowe’s (LOW) Tuesday: Concur Technologies (CNQR), Target (TGT), Autodesk (ADSK), TJX Companies (TJX), Home Depot (HD), Jacobs Engineering Group (JEC), Salesforce.com (CRM) Wednesday: BJ’s Wholesale Club (BJ), NetApp (NTAP), Jack in the Box (JACK), Chico’s FAS (CHS), Donaldson Company (DCI), Petsmart (PETM), Woodward Governor (WGOV), Phillips-Van Heusen […]
A short look to the yesterdays jobless claims which came out at 502k vs. 512k consensus and 512k the week before. Again a edge down, but still high. Asia ended mixed, small moves in different directions, Europe is trading flat at the moment. German Q3 GDP growth came at 0.7% vs. 0.8% consensus and o.4% […]
U.S. Government support to the housing market could claim another victim – The FHA. WSJ stories: Housing Agency Reserves Fall Far Below Minimum; The FHA’s Bailout Warning. The odds are U.S. government would have to step in once more because failing to react would add another leg to the housing downturn. We have witnessed that […]
Bloomberg story: Hedge Fund Veteran Horseman to Step Down After Loss. I can understand this guy he was acting on the data coming out and not on empty media stories and politician talk.
Crude oil stocks edged higher 1.8 million barrels; gasoline stocks up 0.8 million barrels; other oils down 4 million barrels; total stocks up 0.9 million barrels. Refinery utilization rate at 79.9% down from 80.6% last week; inputs into refineries hitting new low. Net imports up 0.4 million barrels, at lowest levels in this decade. To […]
Belisarius cough an interview with the K+S CEO Norbert Steiner on CNBC this morning and got interested in potash producers on the Mr. Steiner words that he expects 50% increase in demand measured by volume. The K+S is the seventh largest potash producer in the world (PotashCorp data) . Earnings today came out below consensus, […]
As reported yesterday, Japan’s machinery orders rose 10.5% vs. 4.1% consensus in September. Bloomberg story: Japan Machine Orders Rise More Than Expected; Recovery May Last. Off course it sparked optimism for the bulls. Today Japan’s October producer prices came out at -6.7% vs. 6% consensus. This was 10th month in a row with negative figure. […]
Very nice presentation of iron ore dynamics. Link.
Bank of England released its Inflation report. Report suggests that “inflation may exceed 2% target in 2012”. Bloomberg story: Bank of England Lifts Forecasts for Inflation, Growth. Is it just me, or it sounds, let’s say, impossible for a country running budget deficits around 12% of the GDP in this and next year; with central […]