Global Macro Perspectives
(For The Week Ending September 24, 2010) U.S. railroads originated 300,908 carloads, up 10.8% compared with the same week in 2009, but down 6.7% compared with 5-year average. Week over week change was -1.2% (due to Labor day). Chart 1. Association of American Railroads U.S. Freight Carloads
(For September 2010) U.S. total motor vehicle sales for September rose 0.27 million units to 11.73 million SAAR. Chart 1. U.S. Motor Vehicle Sales Market share of domestic producers fell 0.4% to 75.2%. Chart 2. U.S. Motor Vehicle Sales Domestic vs. Foreign Market Share
Baltic dry index rose 0.3% last week; Capesize Index was up 9.5%; Panamax Index fell 11.3%; Supramax Index fell 1.9%; Handysize Index was down 2.9%. So, capesize gains offset other component losses. Data flow is tainted by holiday season in China (Mid Autumn Festival – from September 22 to September 24 and National Day – from October 1 to […]
Important U.S. earnings this week: Monday, October 4 Cantel Medical (CMN) Skyline (SKY) Tuesday, October 5 Wolverine World Wide (WWW) Volt Information Sciences (VOL) Diamond Foods (DMND) Yum! Brands (YUM) Helen of Troy (HELE) Monsanto (MON) Costco Wholesale (COST) Acuity Brands (AYI) Ruby Tuesday (RT) RPM International (RPM) Robbins & Myers (RBN) Constellation Brands (STZ) […]
Contrary to books title which is in my view to extreme, this is balanced and well written book on today’s energy situation and all the accepts of finding, developing , using crude oil and it’s importance for civilization. I have stated my view on peek oil theory couple of times in my posts. I’ll repeat it once more: It is […]
Baltic Dirty Tanker Index fell 0.4%; Baltic Clean Tanker Index fell 4.6%. Supply still overweighting demand. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
(For The Week Ending September 24, 2010) ECRI Weekly Leading Index for week ending September 24, 2010 was reported down 7.8%. Prior reading was at -8.7%.. Chart 1. ECRI Weekly Leading Index
(For August 2010) U.S. construction spending rose 0.4% m-o-m in August vs. -0.4% consensus and revised (down -0.4%) 1.4% fall in June. On year level we are at -10.0%. Chart 1. U.S. Construction Spending
(For September 2010) University of Michigan/Reuters Consumer Sentiment for September final reading came out at 68.2 vs. 66.6 reported two weeks ago; 67.0 consensus and 68.9 August reading. Chart 1. University of Michigan/Reuters Consumer Sentiment vs. Conference Board Consumer Confidence
(For September 2010) ISM Manufacturing Index was reported at 54.4 vs. prior reading of 56.3 and consensus of 54.5. The pace of growth in industrial activity is weakening. Chart 1. ISM vs. Philadelphia vs. Regional Manufacturing Surveys
(For August 2010) U.S. personal income rose 0.5% in August vs. 0.3% consensus and 0.2% July reading. On y-o-y level the personal income is up 3.3%. Chart 1. U.S. Personal Income U.S. consumer spending also rose 0.4% in August vs. 0.4% consensus and 0.4% July reading. On y-o-y level the consumer spending is up 2.7%. Chart […]
Interesting chart today in Bloomberg’s Chart of the Day by Norwegian Arctic Securities. A slowing merchant shipping fleet isconcealing capacity that will undermine the industry’s recoveryas world trade quickens, according to Arctic Securities ASA, anOslo-based investment bank. The biggest reduction occurred in container shipping, wherespeeds dropped by 20 percent from their peak, according toArctic estimates. […]
(For The Week Ending September 24, 2010) Working gas in storage rose 74 Bcf from previous week. Consensus was at 68 Bcf. Opposite to overwhelming negative historical stock market performance in September natural gas has overwhelmingly positive historical positive performance in September. Not this year. The risk here is skewed to the upside. Chart 1. Natural Gas Futures […]
(For September 2010) China Federation of Logistics & Purchasing and National Bureau of Statistics PMI rose from 51.7 to 53.8. Both China PMI’s suggest that China industrial production figures for September will improve a bit. Chart 1. China Federation of Logistics & Purchasing and National Bureau of Statistics PMI; HSBC Markit China Manufacturing PMI; China Industrial Production […]