Archive for September, 2013

  • Warren Sulmasy Wall Street Ends Week Down





    DOW  15,258.24  -70.06 points or -0.46%
    S&P    1,691.75   -6.92 points or -0.41%
    NASDAQ 3,781.60 -5.83 points or -0.15%
    Wall Street finished the week down.  The Dow was lost -70.06 points or down -0.46 percent to close down at 15,258.24 for the day.The S&P 500 equity index, dropped  -6.92 points or down -0.41 percent to close down at 1,691.75. The NASDAQ index  lost -5.83 points or down -0.15 to close down at 3,781.60 for the day.
    All released and proposed to be released economic reports for the week
    are listed below.
    September 23
    8:30 am Chicago Fed National Activity Index 
    The Chicago Fed National Activity Index for August was 0.14. The street was expecting -0.05.The revised prior reported number was -0.43.
    8:58 am Markit US PMI Preliminary 
    The Markit US PMI Preliminary report for September was 52.8. The expected number was 54.0. The prior number was 53.1.
    September 24
    9:00 am S&P/CS 20 City MoM SA
    The S&P/CS 20 City Month over Month SA report for July was 0.62 percent. The street was looking for 0.80 percent. The prior reported number was 0.88 percent. 
    9:00 am S&P/CS Composite-20 YoY
    The S&P/CS Composite-20 Year over Year report for July was 12.39 percent. That was in line with Wall Streets expected number of 12.40 percent. The prior reported number was 12.07 percent. 
    9:00 am S&P/CaseShiller Home Price Index
    The S&P/Case Shiller Home Price Index report for July was 162.49. The July report was in line with Wall Streets expected number of 162.69. The prior reported number was 159.54.
    9:00 am House Price Index MoM
    The House Price Index Month over Month report for July was up 1.0 percent. That was in line with the expected number of 0.8 percent. The July report was better than the prior reported number of 0.7 percent. 
    10:00 am Richmond Fed Manufact. Index
    The Richmond Fed Manufacturing Index report for Sept was 0. Wall Street was looking for 12. The Sept report was also much lower than the prior reported number of 14.
    10:00 am Consumer Confidence Index
    The Consumer Confidence Index report for Sept was 79.7. That was in line with Wall Streets expected number of 79.9. The Sept report was lower than the revised prior reported number of 81.8. 

    September 25
    7:00 am MBA Mortgage Applications
    The MBA Mortgage Applications report for Sept 20 was up 5.5 percent. The Prior reported number was up 11.2 percent.
    8:30 am Durable Goods Orders
    The Durable Goods Orders report for August was up 0.1 percent. The street was expecting -0.2 percent. The revised prior reported number was down -8.1 percent.
    8:30 am Durables Ex Transportation
    The Durables Ex Transportation report for August was down -0.1 percent. The expected number was up 1.0 percent. The prior reported number -0.5 percent.
    8:30 am Cap Goods Orders Nondef Ex Air
    The Cap Orders Nondef Ex Air report for August was up 1.5 percent. The expected number was up 2.0 percent. The August report was much better than the revised prior reported number of down – 3.3 percent. 
    8:30 am Cap Goods Ship Nondef Ex Air 
    The Cap Goods Ship Nondef Ex Air report for August was up 1.3 percent. That was in line with the expected number of up 1.5 percent. The August report was better than the revised prior reported number of down -1.4 percent.
    10:00 am New Home Sales
    The New Home Sales report for August was up 420,000. That was in line with Wall Streets expected number of 420,000. The August report was better than the revised prior reported number of 390,000. 
    10:00 am New Home Sales MoM
    The New Home Sales Month over Month report for August was up 7.9 percent. That was better than thee expected number of 6.6 percent. The August report was much better than the revised prior reported number of down -14.1 percent. 
    12:00 pm Household Change in Net Worth
    The Household Change in Net Worth report for Q2 was $1342B. That was much lower than the revised prior reported number of $2838B.

    September 26
    8:30 am Initial Jobless Claims 
    The Initial Jobless Claims report for Sept 21 was 305,000. That was a 5 year low and lower than Wall Streets expected number of 325,000. The revised prior reported number 310,000. 
    8:30 am Continuing Claims
    The Continuing Claims report for Sept 14 was 2,823,000. That was higher than Wall Streets expected number of 2,818,000. The revised prior reported number was 2,788,000.
    8:30 am GDP Annualized QoQ
    The GDP Annualized Quarter over Quarter report for Q2 was 2.5 percent. That was lin line with the Streets expected number of 2.6 percent. The Q2 report was also in line with the prior reported number of 2.5 percent.
    8:30 am Personal Consumption
    The Personal Consumption report for Q2 was 1.8 percent. That was in line with Wall Streets expected number of 1.9 percent. The Q2 report was unchanged from the prior report.
    8:30 am GDP Price Index
    The GDP Price Index report for Q2 was 0.6 percent. The Street was looking for 0.8 percent. The prior reported number was also 0.8 percent.
    8:30 am Core PCE QoQ
    The Core PCE Quarter over Quarter report for Q2 was 0.6 percent. The street was looking for 0.8 percent. The prior reported number for Q2 was 0.8 percent. 
    10:00 am Pending Home Sales MoM
    The Pending Home Sales Month over Month report for August down – 1.6 percent. That was a bit lower than than thee expected number of -1.0 percent. The revised prior reported number -1.4 percent. 
    10:00 am Pending Home Sales YoY
    The Pending Home Sale Year over Year report for August was 2.9 percent. That was lower than the expected number of 6.3 percent. The August report was also lower than the revised prior reported number of 8.5 percent.
    11:00 am Kansas City Fed Manufacturing Activity
    The Kansas City Fed Manufacturing Activity report for Sept was 2. That was lower than the expected number of 8. The prior reported number was 8 as well.

    September 27
    8:30 am Personal Income
    The personal Income report for August was 0.4 percent. That was exactly in line with the expected number of 0.4 percent. The revised prior reported number was 0.2 percent.
    8:30 am Personal Spending
    The Personal Spending report for August was 0.3 percent. That was exactly in line with the expected number of 0.3 percent. The revised prior reported number was 0.2 percent. 
    8:30 am PCE Deflator MoM
    THE PCE Deflator Month over Month for August was exactly in line with expectations with 0.1 percent. The prior reported number was also 0.1 percent. 
    8:30 am PCE Deflator YoY
    The PCE Deflator Year over Year report for August was exactly in line with expectations with 1.2 percent. The revised prior reported number was 1.3 percent. 
    8:30 am PCE Core MoM
    The PCE Core Month over Month report for August was 0.2 percent. The expected number was 0.1 percent. The prior reported number was 0.1 percent. 
    8:30 am PCE Core YoY
    The PCE Core Year over Year report for August was 1.2 percent. That was in line with the expected number of 1.3 percent. The revised prior reported number was 1.1 percent.
    8:30 am University of Michigan Confidence
    The University of Michigan Confidence report for Sept was 77.5. That was almost exactly in line with the expected number of 78.0. The prior reported number was 76.8.

  • Warren Sulmasy Wall Street Bounces Back




    DOW  15,328.30  +55.04 points or +0.36%
    S&P    1,698.67   +5.90 points or +0.35%
    NASDAQ 3,787.43 +26.33 points or +0.70%
    The market finally gave us a relief rally  The DOW rallied +55.04 points or up +0.36 percent to close up at 15,328.30 for the day. The S&P 500 index ended the 5 consecutive day slide by rising +5.90 points or up +0.35 percent for the day. The NASDAQ index, the best performing index thus far in 2013, rallied up + 26.33 points or up +0.70 percent to close up at 3.787.43 for the day. 
    All released and proposed to be released economic reports for the week
    are listed below.
    September 23
    8:30 am Chicago Fed National Activity Index 
    The Chicago Fed National Activity Index for August was 0.14. The street was expecting -0.05.The revised prior reported number was -0.43.
    8:58 am Markit US PMI Preliminary 
    The Markit US PMI Preliminary report for September was 52.8. The expected number was 54.0. The prior number was 53.1.
    September 24
    9:00 am S&P/CS 20 City MoM SA
    The S&P/CS 20 City Month over Month SA report for July was 0.62 percent. The street was looking for 0.80 percent. The prior reported number was 0.88 percent. 
    9:00 am S&P/CS Composite-20 YoY
    The S&P/CS Composite-20 Year over Year report for July was 12.39 percent. That was in line with Wall Streets expected number of 12.40 percent. The prior reported number was 12.07 percent. 
    9:00 am S&P/CaseShiller Home Price Index
    The S&P/Case Shiller Home Price Index report for July was 162.49. The July report was in line with Wall Streets expected number of 162.69. The prior reported number was 159.54.
    9:00 am House Price Index MoM
    The House Price Index Month over Month report for July was up 1.0 percent. That was in line with the expected number of 0.8 percent. The July report was better than the prior reported number of 0.7 percent. 
    10:00 am Richmond Fed Manufact. Index
    The Richmond Fed Manufacturing Index report for Sept was 0. Wall Street was looking for 12. The Sept report was also much lower than the prior reported number of 14.
    10:00 am Consumer Confidence Index
    The Consumer Confidence Index report for Sept was 79.7. That was in line with Wall Streets expected number of 79.9. The Sept report was lower than the revised prior reported number of 81.8. 

    September 25
    7:00 am MBA Mortgage Applications
    The MBA Mortgage Applications report for Sept 20 was up 5.5 percent. The Prior reported number was up 11.2 percent.
    8:30 am Durable Goods Orders
    The Durable Goods Orders report for August was up 0.1 percent. The street was expecting -0.2 percent. The revised prior reported number was down -8.1 percent.
    8:30 am Durables Ex Transportation
    The Durables Ex Transportation report for August was down -0.1 percent. The expected number was up 1.0 percent. The prior reported number -0.5 percent.
    8:30 am Cap Goods Orders Nondef Ex Air
    The Cap Orders Nondef Ex Air report for August was up 1.5 percent. The expected number was up 2.0 percent. The August report was much better than the revised prior reported number of down – 3.3 percent. 
    8:30 am Cap Goods Ship Nondef Ex Air 
    The Cap Goods Ship Nondef Ex Air report for August was up 1.3 percent. That was in line with the expected number of up 1.5 percent. The August report was better than the revised prior reported number of down -1.4 percent.
    10:00 am New Home Sales
    The New Home Sales report for August was up 420,000. That was in line with Wall Streets expected number of 420,000. The August report was better than the revised prior reported number of 390,000. 
    10:00 am New Home Sales MoM
    The New Home Sales Month over Month report for August was up 7.9 percent. That was better than thee expected number of 6.6 percent. The August report was much better than the revised prior reported number of down -14.1 percent. 
    12:00 pm Household Change in Net Worth
    The Household Change in Net Worth report for Q2 was $1342B. That was much lower than the revised prior reported number of $2838B.

    September 26
    8:30 am Initial Jobless Claims 
    The Initial Jobless Claims report for Sept 21 was 305,000. That was a 5 year low and lower than Wall Streets expected number of 325,000. The revised prior reported number 310,000. 
    8:30 am Continuing Claims
    The Continuing Claims report for Sept 14 was 2,823,000. That was higher than Wall Streets expected number of 2,818,000. The revised prior reported number was 2,788,000.
    8:30 am GDP Annualized QoQ
    The GDP Annualized Quarter over Quarter report for Q2 was 2.5 percent. That was lin line with the Streets expected number of 2.6 percent. The Q2 report was also in line with the prior reported number of 2.5 percent.
    8:30 am Personal Consumption
    The Personal Consumption report for Q2 was 1.8 percent. That was in line with Wall Streets expected number of 1.9 percent. The Q2 report was unchanged from the prior report.
    8:30 am GDP Price Index
    The GDP Price Index report for Q2 was 0.6 percent. The Street was looking for 0.8 percent. The prior reported number was also 0.8 percent.
    8:30 am Core PCE QoQ
    The Core PCE Quarter over Quarter report for Q2 was 0.6 percent. The street was looking for 0.8 percent. The prior reported number for Q2 was 0.8 percent. 
    10:00 am Pending Home Sales MoM
    The Pending Home Sales Month over Month report for August down – 1.6 percent. That was a bit lower than than thee expected number of -1.0 percent. The revised prior reported number -1.4 percent. 
    10:00 am Pending Home Sales YoY
    The Pending Home Sale Year over Year report for August was 2.9 percent. 

    September 27
    8:30 am Personal Income
    8:30 am Personal Spending
    8:30 am PCE Deflator MoM
    8:30 am PCE Deflator YoY
    8:30 am PCE Core MoM
    8:30 am PCE Core YoY
    8:30 am University of Michigan Confidence
  • Warren Sulmasy S&P 500 Falls 5th Consecutive Trading Day





    DOW  15,273.26  -61.33 points or -0.40%
    S&P    1,692.77   -4.65 points or -0.27%
    NASDAQ 3,761.10 -7.16 points or -0.19%
    The S&P 500 index extended the consecutive days down to 5 today. The Dow was off -61.33 or down -0.40 percent to close down at 15,273.26 for the day.The S&P 500 equity index, slipped another -4.65 points or down -0.27 percent to close down at 1,692.77. The NASDAQ index which remains close up to the recovery highs, lost -7.16 or down -0.19 to close down at 3,761.10 for the day.
    All released and proposed to be released economic reports for the week
    are listed below.
    September 23
    8:30 am Chicago Fed National Activity Index 
    The Chicago Fed National Activity Index for August was 0.14. The street was expecting -0.05.The revised prior reported number was -0.43.
    8:58 am Markit US PMI Preliminary 
    The Markit US PMI Preliminary report for September was 52.8. The expected number was 54.0. The prior number was 53.1.
    September 24
    9:00 am S&P/CS 20 City MoM SA
    The S&P/CS 20 City Month over Month SA report for July was 0.62 percent. The street was looking for 0.80 percent. The prior reported number was 0.88 percent. 
    9:00 am S&P/CS Composite-20 YoY
    The S&P/CS Composite-20 Year over Year report for July was 12.39 percent. That was in line with Wall Streets expected number of 12.40 percent. The prior reported number was 12.07 percent. 
    9:00 am S&P/CaseShiller Home Price Index
    The S&P/Case Shiller Home Price Index report for July was 162.49. The July report was in line with Wall Streets expected number of 162.69. The prior reported number was 159.54.
    9:00 am House Price Index MoM
    The House Price Index Month over Month report for July was up 1.0 percent. That was in line with the expected number of 0.8 percent. The July report was better than the prior reported number of 0.7 percent. 
    10:00 am Richmond Fed Manufact. Index
    The Richmond Fed Manufacturing Index report for Sept was 0. Wall Street was looking for 12. The Sept report was also much lower than the prior reported number of 14.
    10:00 am Consumer Confidence Index
    The Consumer Confidence Index report for Sept was 79.7. That was in line with Wall Streets expected number of 79.9. The Sept report was lower than the revised prior reported number of 81.8. 

    September 25
    7:00 am MBA Mortgage Applications
    The MBA Mortgage Applications report for Sept 20 was up 5.5 percent. The Prior reported number was up 11.2 percent.
    8:30 am Durable Goods Orders
    The Durable Goods Orders report for August was up 0.1 percent. The street was expecting -0.2 percent. The revised prior reported number was down -8.1 percent.
    8:30 am Durables Ex Transportation
    The Durables Ex Transportation report for August was down -0.1 percent. The expected number was up 1.0 percent. The prior reported number -0.5 percent.
    8:30 am Cap Goods Orders Nondef Ex Air
    The Cap Orders Nondef Ex Air report for August was up 1.5 percent. The expected number was up 2.0 percent. The August report was much better than the revised prior reported number of down – 3.3 percent. 
    8:30 am Cap Goods Ship Nondef Ex Air 
    The Cap Goods Ship Nondef Ex Air report for August was up 1.3 percent. That was in line with the expected number of up 1.5 percent. The August report was better than the revised prior reported number of down -1.4 percent.
    10:00 am New Home Sales
    The New Home Sales report for August was up 420,000. That was in line with Wall Streets expected number of 420,000. The August report was better than the revised prior reported number of 390,000. 
    10:00 am New Home Sales MoM
    The New Home Sales Month over Month report for August was up 7.9 percent. That was better than thee expected number of 6.6 percent. The August report was much better than the revised prior reported number of down -14.1 percent. 
    12:00 pm Household Change in Net Worth
    The Household Change in Net Worth report for Q2 was $1342B. That was much lower than the revised prior reported number of $2838B.

    September 26
    8:30 am Initial Jobless Claims 
    8:30 am Continuing Claims
    8:30 am GDP Annualized QoQ
    8:30 am Personal Consumption
    8:30 am GDP Price Index
    8:30 am Core PCE QoQ
    10:00 am Pending Home Sales MoM
    10:00 am Pending Home Sales YoY
    11:00 am Kansas City Fed Manufacturing Activity

    September 27
    8:30 am Personal Income
    8:30 am Personal Spending
    8:30 am PCE Deflator MoM
    8:30 am PCE Deflator YoY
    8:30 am PCE Core MoM
    8:30 am PCE Core YoY
    8:30 am University of Michigan Confidence
  • Warren Sulmasy Wall Street Down Again





    DOW  15,334.59  -66.79 points or -0.43%
    S&P    1,697.42   -4.42 points or -0.26%
    NASDAQ 3,768.25 +2.97 points or +0.08%
    The S&P 500 index has closed down four consecutive days. Although the DOW and the S&P have struggled the pat few trading sessions, the NASDAQ index managed to rally yesterday.  The DOW was down -66.79 points or down -0.43 percent to close down at 15,334.59 for the day. The S&P 500 index slipped -4.42 points or down -0.26 percent to close down at 1,697.42 for the day. The NASDAQ index crept up _2.97 points or up +0.08 percent to close up at 3,768.25 for the day.
    All released and proposed to be released economic reports for the week
    are listed below.
    September 23
    8:30 am Chicago Fed National Activity Index 
    The Chicago Fed National Activity Index for August was 0.14. The street was expecting -0.05.The revised prior reported number was -0.43.
    8:58 am Markit US PMI Preliminary 
    The Markit US PMI Preliminary report for September was 52.8. The expected number was 54.0. The prior number was 53.1.
    September 24
    9:00 am S&P/CS 20 City MoM SA
    The S&P/CS 20 City Month over Month SA report for July was 0.62 percent. The street was looking for 0.80 percent. The prior reported number was 0.88 percent. 
    9:00 am S&P/CS Composite-20 YoY
    The S&P/CS Composite-20 Year over Year report for July was 12.39 percent. That was in line with Wall Streets expected number of 12.40 percent. The prior reported number was 12.07 percent. 
    9:00 am S&P/CaseShiller Home Price Index
    The S&P/Case Shiller Home Price Index report for July was 162.49. The July report was in line with Wall Streets expected number of 162.69. The prior reported number was 159.54.
    9:00 am House Price Index MoM
    The House Price Index Month over Month report for July was up 1.0 percent. That was in line with the expected number of 0.8 percent. The July report was better than the prior reported number of 0.7 percent. 
    10:00 am Richmond Fed Manufact. Index
    The Richmond Fed Manufacturing Index report for Sept was 0. Wall Street was looking for 12. The Sept report waas also much lower than the prior reported number of 14.
    10:00 am Consumer Confidence Index
    The Consumer Confidence Index report for Sept was 79.7. That was in line with Wall Streets expected number of 79.9. The Sept report was lower than the revised prior reported number of 81.8. 

    September 25
    7:00 am MBA Mortgage Applications
    8:30 am Durable Goods Orders
    8:30 am Durables Ex Transportation
    8:30 am Cap Goods Orders Nondef Ex Air
    8:30 am Cap Goods Ship Nondef Ex Air 
    10:00 am New Home Sales
    10:00 am New Home Sales MoM
    12:00 pm Household Change in Net Worth

    September 26
    8:30 am Initial Jobless Claims 
    8:30 am Continuing Claims
    8:30 am GDP Annualized QoQ
    8:30 am Personal Consumption
    8:30 am GDP Price Index
    8:30 am Core PCE QoQ
    10:00 am Pending Home Sales MoM
    10:00 am Pending Home Sales YoY
    11:00 am Kansas City Fed Manufaturing Activity

    September 27
    8:30 am Personal Income
    8:30 am Personal Spending
    8:30 am PCE Deflator MoM
    8:30 am PCE Deflator YoY
    8:30 am PCE Core MoM
    8:30 am PCE Core YoY
    8:30 am University of Michigan Confidence