Marc Faber Discusses Chinese Economy, Stock Market On Bloomberg TV
Marc Faber softened his stance on China. Bloomberg TV Interview:
Global Macro Perspectives
Marc Faber softened his stance on China. Bloomberg TV Interview:
U.S. construction spending rose 0.1% MoM in June vs. -0.5% consensus and 0.2% rise in May. On a year level we are at -7.9%. Chart 1. U.S. Construction Spending
ISM Manufacturing Index was reported at 55.5 vs. prior reading of 56.2 and consensus of 54.5. Chart 1. ISM Manufacturing Index
Equities Economic data released in recent month or so is dominated by bellow consensus readings and on absolute level pointing to only marginal and slowing growth. Consumer demand proxies point to deceasing level of consumer demand. Unemployment is high and it is not falling. The government stimulus is wearing off. But the market is rising despite all of that […]
Number of crude oil drilling rigs rose for 12 for the week ending July 23, 2010; Number of natural gas drilling rigs fell for 10 rigs in the same time frame. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly U.S. Rig Count Chart 3. Baker Hughes Monthly World Rig Count
Important U.S. earnings this week: Monday: Allergan (AGN), Loews (L) Tuesday: Anadarko Petroleum (APC), Chesapeake Energy (CHK), Pfizer (PFE), Duke Energy (DUK), Baker Hughes (BHI), Marsh & McLennan (MMC), Emerson Electric (EMR), The Dow Chemical Company (DOW), Marathon Oil (MRO), Mastercard (MA), Sempra Energy (SRE), Cognizant Technology Solutions (CTSH), Entergy Corporation (ETR), American Tower (AMT), […]
The official China PMI fell from 52.1 to 51.2; The HSBC/Markit PMI fell from 50.4 to 49.4. Reading bellow 50 means contraction. Asian markets up today… Chart 1. China Federation of Logistics & Purchasing and National Bureau of Statistics PMI / HSBC Markit China Manufacturing PMI