Baltic Dry Index At 1720, Up 1.2%
And the slide is over… Chart 1. Baltic Dry Index
U.S. Natural Gas Weekly – July 15, 2010
Working gas in storage rose 78 Bcf from previous week. Right at the consensus; price jumped 6%. Confused. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average
Philadelphia FED General Business Conditions Index Falls To 5.1
Another disappointment of the day: Philadelphia FED General Business Conditions Index fell to 5.1. The consensus was at 12.0, prior reading at 8.0. Chart 1. Philadelphia Fed Survey – General Business Conditions Index
Empire State Manufacturing Survey For July At 5.08
Empire State Manufacturing Survey for July came out at 5.08 vs. 18.0 consensus and 19.57 prior reading. Big disappointment. Chart 1. Empire State Manufacturing Survey
U.S. Industrial Production Rose 0.1% In June
U.S. industrial production rose 0.1% in June. The consensus was at -0.2%, May reading at 1.2%. Capacity utilization fell, for the first time since the recovery started, to 74.1% in May it was at 74.7%; the consensus was at 74.0%. Chart 1. U.S. Industrial Production and Capacity Utilization
U.S. Producer Price Index Down 0.5% In June
U.S. producer price index fell 0.5% in June vs. -0.1% consensus and 0.3% fall in May. Food & energy taken out U.S. producer price index rose 0.1% in June. The consensus was at 0.1%, prior reading at 0.2%. Chart 1. U.S. Producer Price Indexes
Baltic Dry Index At 1700, Down 0.5%
Down only 0.5%. Chart 1. Baltic Dry Index
Initial Jobless Claims At 429.000; Down 29.000
Initial jobless claims were reported at 429.000. The consensus was at 445.000, last week revised reading was at 458.000. Lowest reading since July 2008. Chart 1. U.S. Initial Jobless Claims
China Growth Slowing Down
China Q2 GDP growth was reported at 10.3%, slowing down from Q1 growth rate of 11.9%. The slowdown came despite exports were stronger in Q2, meaning internal demand has weakened. Chart 1. China GDP Quarterly Growth¸ Urban fixed assets investments growth rate also slowed down to 23.5%. The May reading was at 25.9%. Chart 2. Fixed Assets Investment Inflationary pressures […]
U.S. Petroleum Weekly – July 14, 2010
Crude oil stocks fell 5.1 million barrels for week ending July 9; Gasoline stocks rose 1.6 million barrels; Distillate stocks increased 2.9 million barrels; Propane/propylene stocks rose 1.9 million barrels; Total crude oil and petroleum stocks were 3.2 million barrels higher than the week before. Refinery utilization rose from 89.8% to 90.5%. Highest since January […]
Baltic Dry Index At 1709, Down 4.5%
As I wrote in Dry Bulk Weekly it appears that Chinese removal of steel export tax rebates is a complete game changer for the industry. The slowdown in Chinese iron ore imports is easing port congestion which tied approximately 20% of the world fleet a few weeks ago. The port congestion has since then eased by […]
Another Disappointment In U.S. Retail Sales
Retail sales fell 0.5% in June . The consensus was at -0.2%, May reading was a decrease of 1.2%. Autos taken out, the figure was a decrease of 0.1%; the consensus was at 0.0%; prior reading at -1.1%. Another disappointment and a confirmation of a economic slowdown coming in the second half of the year. Chart 1. U.S. […]
MBA Mortgage Applications Down 2.9%
MBA mortgage applications fell 2.9% for week ending July 9, the prior reading was a rise of 6.7%. Both refinancing index and purchasing index fell 2.9%. Lowest reading for a Purchase Index since 1996. Chart 1. MBA Mortgage Applications
U.S. Trade Deficit Rose To $-42.3 Billion In May
U.S. trade balance for April was reported at $-42.3 billion vs. consensus of $-39 billion and April reading of $-40.3 billion. Chart 1. U.S. Trade Balance
Baltic Dry Index At 1790, Down 2.7%
Again down… Chart 1. Baltic Dry Index