Aug 26-30 Economic Calendar: Durables/Conf Blah, Pending Home sales steady, Claims up but not as much
as last reporting period imho. I don't see how spending can go up unless someone has been selling profitable SLW shares. We're all waiting for the next shoe to fall in Syria, time for a war to end financial malaise, this looks as good as any, we'll know more when the advance team to include the CIA finds out the who when and why. In the meantime, the last of the looky loos are entering the existing home sales market, the large durables will suffer except, imho, the cars which have substituted for the big ticket buys called homes for a while now. Average age for a used car on the road today is over ten years old. When I grew up in the fifties, you started looking for a new car at 45000 miles. Now 450,000 isn't unheard of.
Silver just keeps climbing as " who is he kidding about tapering fight the never ending battle with "who is going to buy our bonds? At 3%, the way things are going, may be a lot of folks. Time will tell
Date Time (ET) Statistic For Actual Briefing Forecast Market Expects Prior Revised From
Aug 26 8:30 AM Durable Orders Jul - NA NA 3.9% 4.2%
Aug 26 8:30 AM Durable Goods -ex transportation Jul - NA NA -0.1% 0.0%
Aug 27 9:00 AM Case-Shiller 20-city Index Jun - NA NA 12.2% -
Aug 27 10:00 AM Consumer Confidence Aug - NA NA 80.3 -
Aug 28 7:00 AM MBA Mortgage Index 08/24 - NA NA -4.6% -
Aug 28 10:00 AM Pending Home Sales Jul - NA NA -0.4% -
Aug 28 10:30 AM Crude Inventories 08/24 - NA NA -1.428M -
Aug 29 8:30 AM Initial Claims 08/24 - NA NA 336K -
Aug 29 8:30 AM Continuing Claims 08/17 - NA NA 2999K -
Aug 29 8:30 AM GDP - Second Estimate Q2 - NA NA 1.7% -
Aug 29 8:30 AM GDP Deflator - Second Estimate Q2 - NA NA 0.7% -
Aug 29 10:30 AM Natural Gas Inventories 08/24 - NA NA 57 bcf -
Aug 30 8:30 AM Personal Income Jul - NA NA 0.3% -
Aug 30 8:30 AM Personal Spending Jul - NA NA 0.5% -
Aug 30 8:30 AM PCE Prices - Core Jul - NA NA 0.2% -
Aug 30 9:45 AM Chicago PMI Aug - NA NA 52.3 -
Aug 30 9:55 AM Michigan Sentiment - Final Aug - NA NA 80.0 -
Yup, looks likeBritain opted out of yhe new Syrian War and Obama balked and will wait for UN findings. The UN techies can say what, but how they say who, baffles. And prennouncing bombs burstig in air helps enemies move stockpiles that neatly provides cover for a false flag where US causes the attack, then points fingers, or the rebels cause the gas attack, which they have done before. See how that works? Where is Donny and Denzel when we need 2 Guys?
Worse still Indias rupee has lost 20 % buying power oh by golly, and gold prices stand to take another knee in the nethers. Where do you think Taper your enthusiasm for PM.
More tape painting has the market teetering at its hifgh, and the alleged pros return from Slaver Day weekend shortly. And I do mean shortly
War looms, interest rates approach 5%, new homes crash, debt soars, winners sold with losers, existing real estate price declines, sales crash, durables falter, American boots on ground in one year or less means less tomorrow for all.
Durable goods will be interesting as existing homes are being spruced up for retention as well as future sales--no wonder HD and LOW have popped. Syria looms as the next war to end brief respites between conflicts hoked up to goose a stagnant economy, it's right up there with ruining your currency. Dollars will become attractive as furriners buy our bonds --they're lower priced, with higher yield, which should bring back the carry trade. Friday the Dow was so happy Balmer (MSFT) quit, or will quit, it caused the entire market to soar in jubilation. Maybe they should all quit, the S amd P would double overnight.