- US Retail Sales...beats expectations in October @ 0.4% vs 0.1% exp, and ex-autos up 0.2%, vs 0.1% exp. Auto sales continue to be a big part of overall spending. Year-over-year, retail sales rose 3.9% which is still considered underwhelming (average annual since 1980 = 6.3%!), but given the recent Government shutdown, the overall data point is positive. No visible signs of early boost to sales due to iPhone despite increases in sales in the electronics and appliances category. Other stronger segments included furniture, apparel, sporting goods and restaurants. Weaker segments included gasoline stations and building supply.
- US CPI...slipped 0.1% vs flat exp. Ex-food & energy +0.1% vs +0.2% exp. The headline number was first negative since April. On an y/y basis, inflation is at close to lowest levels since the end of the recession. (Editorial musing: risk of deflation??? Hmmmm......)
- US..Existing Home Sales misses expectations in Oct, falling to 5.12mm units, a 3.2% decline fr Sept. with single-family home sales dropping 4.4%! Months of available supply stayed firm at 5mths as inventory declined.
- ECB...floats the idea of negative deposit interest rates as a way to stimulate the economy.
- FOMC Minutes....shows FOMC generally expected data to justify tapering in 'coming months'!
- Of interest:
- To counterbalance some of our recent posts in which we highlighted many of the headwinds potentially facing markets, the follow information clearly shows more optimism re economic life:
U.S. Regional Outlook: Midwest Optimism http://t.co/Nrv5zDHHCz via @YahooFinance
— The Dismal Scientist (@dismalscientist) November 20, 2013
Mark Zandi: Five reasons for optimism. 1.Fiscal policy drag grows less significant. pic.twitter.com/bGNnXA0T1i
— The Dismal Scientist (@dismalscientist) November 6, 2013
Zandi: Five reasons for optimism: #2: Aggressive monetary policy. (No taper till March). pic.twitter.com/5CjvC9Wft7
— The Dismal Scientist (@dismalscientist) November 6, 2013
Zandi's Five reasons for optimism: #3 - U.S. housing is coming back. pic.twitter.com/oAqA4upNyi
— The Dismal Scientist (@dismalscientist) November 6, 2013
Zandi's five reasons for optimism: #4: A safer global environment. pic.twitter.com/8fGCGABUNc
— The Dismal Scientist (@dismalscientist) November 6, 2013
Mark Zandi: Five reasons for optimism. #5: U.S. businesses are cleaning up. pic.twitter.com/H9dJPNLW2h
— The Dismal Scientist (@dismalscientist) November 6, 2013
Please continue to visit Soos Global Market Musings for updates.
(Sign up to "Follow by Email"! And share with others!)
(Please note: This article is solely meant to be thought provoking and is not in any way meant to be personal investment advice. Each investor is obligated to opine and decide for themselves as to the appropriateness of anything said in this article to their unique financial profile, risk tolerances and portfolio goals).
Disclaimer: Please read and consider important information related to all communication made by Soos Global on this site by clicking here.
Additional Disclaimer: currently long many stocks/ETFs. Positions may change at any time without notice.
(Please note: This article is solely meant to be thought provoking and is not in any way meant to be personal investment advice. Each investor is obligated to opine and decide for themselves as to the appropriateness of anything said in this article to their unique financial profile, risk tolerances and portfolio goals).
Disclaimer: Please read and consider important information related to all communication made by Soos Global on this site by clicking here.
Additional Disclaimer: currently long many stocks/ETFs. Positions may change at any time without notice.
No comments:
Post a Comment