Global Macro Perspectives
Almost every piece of data is on consensus. Slow growth in income and outlays; savings falling. The rates are small, too small to make a needed difference in consumer spending. Chart 1. Personal Income Chart 2. Personal Outlays Chart 3. Personal Savings % Of Disposable Personal Income
ISM Manufacturing Index came out at 56.5 vs. prior reading of 58.4 and consensus of 57.5. Chart 1. ISM Manufacturing Index
Equities In the macro arena we have leading indicators rolling over, and a stream of worse-than-expected data pieces on U.S. housing, U.S. employment, U.S. durable goods ordered and large move lower by consumer confidence. Seems that the markets do not appreciate the data. Things that move the markets are only FED policy on rates, dollar […]
Important U.S. earnings this week: Monday: CMS Energy (CMS), Scientific Games (SGMS), Rowan (RDC), Overseas Shipholding (OSG), Southern Union (SUG), Public Storage (PSA), Sotheby’s (BID), Mariner Energy (ME), Intrepid Potash (IPI), Quicksilver Resources (KWK), Edison International (EIX), Dress Barn (DBRN), Warnaco Group (WRC), El Paso (EP) Tuesday: Staples (SPLS), AutoZone (AZO), United Natural Foods (UNFI), […]