| Succinct Summation of Week’s Events 1.31.14 Posted: 31 Jan 2014 01:00 PM PST Succinct Summations week ending January 31, 2014 Positives: 1. Fed tapers another $10B, signaling confidence that the economy can stand on its own.
2. Ford had one of its best years ever (does this mean American Manufacturing is back?). Will bonus an average $8,800 to its 47,000 union workers, a record.
3. Q4 GDP came in at 3.2%, in line with expectations.
4. Japan inflation rose at its fastest pace in 5 years & the job market improved, score one for Abe.
5. Personal consumption growth came in at an annualized rate of 3.3% in Q4, up from 2% in Q3.
6. Euro-area economic confidence increased for the ninth straight month.
7. Consumer confidence rose to 80.7, well ahead of expectations.
8. U.S. flash PMI rose to 56.6 in January, up from 55.7 in December (highest # since September).
9. U.S. home prices rose 13.7% in November from a year earlier.
Negatives: 1. Pending home sales cratered 8.7% m/o/m, biggest miss in over 3 years and worst numbers since May 2010.
2. The major indices had their first red month since August. If the January barometer is as accurate as most other indicators….
3. Durable goods dropped by 4.3% vs an expected 1.8% rise, ugly miss.
4. Core capex fell 1.3% vs an expected 0.3% rise.
5. New home sales tumbled 7.1% m/o/m in December, way worse than the expected 1.9% fall.
6. The Nikkei had a rough week, sinking to lowest levels since November.
7. HSBC China PMI fell to a 6-month low.
8. Weekly jobless claims rose more to the highest level in a month.
9. There was an awful lot of weather blaming, as winter came out of nowhere.
10. University of Michigan consumer confidence fell to 81.2, down from 82.5 in December.
11. European stocks had their worst January since 2010.
12. Personal income unchanged, again.
13. U.S. home prices fell in November, the first decline in a year.
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| Living With Extreme Weather Posted: 31 Jan 2014 11:30 AM PST |
| Comedians in Cars Getting Coffee with Tina Fey Posted: 31 Jan 2014 09:00 AM PST |
| 10 Friday AM Reads Posted: 31 Jan 2014 08:00 AM PST Good Friday morning, some reads to wrap up your work week:: • Coinflip: Gurus Achieve An Astounding 47.4% Accuracy! (Rick Ferri)
• What do you do when your trading system goes wrong? (A Dash of Insight)
• Putting Emerging Market Stock Losses Into Perspective (A Wealth of Common Sense) see also Dark Side of Capital in Emerging Markets (NY Times)
• You’ll Never Grow Rich Taking A Profit (PsyFi)
Continues here  |
| Look Out Below, Post-Bounce Random Edition Posted: 31 Jan 2014 05:30 AM PST Click for updated futures
 Last week, we discussed the increasing odds of a 10 percent correction in U.S. equity markets. At the end of the week, markets had a 90/90 downside day, something that has technical significance if you are inclined in that direction. The expectations that follow a 90/90 day are for a bounce and a further retreat. Given the deep red state of futures this morning, things seem to be playing out according to that probability. But before panic sets in, let me throw a series of random ideas at you that might be worth considering before going home for the weekend . . . Continues here  |
| 1962 Aston Martin DB4 GT (série IV) coupé Posted: 31 Jan 2014 03:00 AM PST |
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