U.S. Motor Vehicle Sales For June At 11.08 Million SAAR
U.S. total motor vehicle sales for June fell 0.56 million units to 11.08 million SAAR. Chart 1. U.S. Motor Vehicle Sales
Monster Employment Index Suggests Improving Job Conditions
I’ll stick with my guess that todays non-farm payrolls will disappoint. Charts 1. Monster Employment Index
Challenger Job-Cut Report For June At 39.358
Job losses kind of flat in the last three months. Chart 1. Challenger Job-Cut Report
Pending Home Sales Index Fell 30.0% In May
Pending home sales index fell 30.0% in May vs. rise of 6% in April. Again first home-buyer tax credit effect… Chart 1. Pending Home Sales Index
ISM Manufacturing Index Rolls-over
ISM Manufacturing Index came out at 56.2 vs. prior reading of 59.7 and consensus of 59.0. Another index rolling-over. Chart 1. ISM Manufacturing Index
Initial Jobless Claims Up 13.000
Initial jobless claims were reported at 472.000. The consensus was at 455.000, last week revised reading was at 459.000. Ugly again… Chart 1. U.S. Initial Jobless Claims
ECB’s 7-Day Liquidity Tender Erases Yesterday’s Optimism On European Banking Sector Liquidity
From yesterday’s post: The ECB biggest ever liquidity facility – EUR 442 billion one year maturity is coming due tomorrow. To reduce the strain on the banks, ECB introduced 3 month LRTO (Long-Term Refinancing Operation) which banks could use to refinance the maturing facility. The market estimate for the LTRO size was EUR 220 billion – EUR […]
U.S. Petroleum Weekly – June 17, 2010
Crude oil stocks fell 2.0 million barrels for week ending June 25; Gasoline stocks rose 0.5 million barrels; Distillate stocks increased 2.5 million barrels; Propane/propylene stocks rose 1.6 million barrels; Total crude oil and petroleum stocks were 3.6 million barrels higher than the week before. Refinery utilization fell from 89.4% to 88.4%. Implied crude oil […]
China Manufacturing PMI’s For July Turned Lower
The official China PMI fell from 53.9 to 52.1; The HSBC/Markit PMI fell from 52.7 to 50.4. From the China National Bureau of Statistics press release: Economic growth is moderating, a rebound in exports is weakening, and slower domestic demand is leading to a build-upof finished-goods inventories. Industrial production is entering a “light season” and […]
S&P 500 Closes Bellow 1.040 For The First Time Since September 2009
Technicians have drawn the S&P 500 line in the sand at 1.040 points. Every investor noways considers that a critical technical level. It got broken a few times intra-day, but now we have first closing bellow. The next resistance is at 880, if we get three consecutive closings bellow 1.040 that would be my next target. Chart 1. […]
MBA Mortgage Applications Rose 8.8%
MBA mortgage applications rose 8.8% for week ending June 25, the prior reading was a decrease of 5.9%. The refinancing index gained 12.6% and is responsible for a composite rise. Purchasing index fell 3.3%. Chart 1. MBA Mortgage Applications
ADP Estimates That U.S. Companies Added 13.000 Jobs In June
ADP Employment rose 13,000 in June vs. revised rise of 57,000 in May. Nonfarm payrolls on Friday will be negative, probably missing a -111.000 consensus. Chart 1. ADP Employment
ECB’s LTRO Goes Better Than Expected
The ECB biggest ever liquidity facility – EUR 442 billion one year maturity is coming due tomorrow. To reduce the strain on the banks, ECB introduced 3 month LRTO (Long-Term Refinancing Operation) which banks could use to refinance the maturing facility. The market estimate for the LTRO size was EUR 220 billion – EUR 250 billion. The […]
Conference Board Consumer Confidence For June At 52.9
Conference Board consumer confidence came out at 52.9 vs. 62.5 consensus and 63.3 reading for May. Ugly looking number. Chart 1. Conference Board Consumer Confidence
S&P/Case-Shiller Home Price Indexes Unexpectedly Rose in April
S&P/Case-Shiller HPI 10 city composite rose 0.7% in April; S&P/Case-Shiller 20 HPI composite rose 0.8% in April. Complete surprise, but it will not affect nobody’s expectations as the indexes are lagging three month averages. Chart 1. S&P/Case-Shiller Composite 10 Chart 2. S&P/Case-Shiller Composite 20