17-21 Economic Calendar: MBA stalls, Claims Maims, FOMC blinders bind
Manufacturing is not going to look splorific, who to sell to is the issue. Mortgages Wed blah, PPI/CPI at the core is rotten to the.....with areas like food clothing, shelter and anything joesixpac buys off the books. Any body who can reason can draw a statistical straight line averaging across those "volatile" areas and get a mean, median, and statistical inference, so too volatile has never been an excuse anyone with a high school education. I mean a real one, not one which pasted a diploma on some retard's hahsss.
The general market will continue to ignore reality until it cannot, and then the market will implode, as it cannot ignore real stats for ever. The the pundit jerks will all call it "healthy" correction, and make it sound as if they can tell all the species of every fish in the Mariana trench, by observing the froth on the top of waves.
Wiley Coyote ugly. GLWT.
Feb 18 8:30 AM Empire Manufacturing Feb - 10.0 7.5 12.5 -
Feb 18 9:00 AM Net Long-Term TIC Flows Dec - NA NA -$29.3B -
Feb 18 10:00 AM NAHB Housing Market Index Feb - 54 56 56 -
Feb 19 7:00 AM MBA Mortgage Index 02/15 - NA NA -2.0% -
Feb 19 8:30 AM Housing Starts Jan - 925K 964K 999K -
Feb 19 8:30 AM Building Permits Jan - 975K 980K 986K -
Feb 19 8:30 AM PPI Jan - 0.3% 0.2% 0.4% -
Feb 19 8:30 AM Core PPI Jan - 0.2% 0.1% 0.3% -
Feb 19 2:00 PM FOMC Minutes 1/29 - - - - -
Feb 20 8:30 AM Initial Claims 02/15 - 335K 335K 339K -
Feb 20 8:30 AM Continuing Claims 02/08 - 2975K 2973K 2953K -
Feb 20 8:30 AM CPI Jan - 0.2% 0.1% 0.3% -
Feb 20 8:30 AM Core CPI Jan - 0.2% 0.1% 0.1% -
Feb 20 10:00 AM Philadelphia Fed Feb - 8.0 7.4 9.4 -
Feb 20 10:00 AM Leading Indicators Jan - 0.4% 0.4% 0.1% -
Feb 20 10:30 AM Natural Gas Inventories 02/15 - NA NA -237 bcf -
Feb 20 11:00 AM Crude Inventories 02/15 - NA NA 3.267M -
Feb 21 10:00 AM Existing Home Sales Jan - 4.75M 4.70M 4.87M
Tame CPI/PPI and a positive takeaway from milking still lousy unemployment numbers led folks to second guess the duration of easy money policy and pundits trying to milk the couple of hawkish comments by a couple of Fed outlyers, and you have the makings of a hugely positive day on very little reason. Today existing home sales will be in the twaletto, but you won't see the market care very much, blaming it on the weather, and not the huge spike in mortgage rates endured since the announcement of tapering stimulatum excretatum. They'v e got weather as an excuse all the way up to the end of Feb and Feb reporting in early March--then the 50-50 degree weather will be gone.
In the meantime? For general markets, eat drink and be merry, for tomorrow just whistle in the dark.
Silver is off again half yesterday's gain pre market at 11PM Pacific Coastal Time, but general market futures are once again up 1/3rd % across the board. GLTA.
Amazingly, the investment public expects a rerun of the same FOMC show, to warrant another dose of depression. I guess if you play the same movie over and over again, the last scene would be different. I'm still waiting for Romeo and Juliet to ride into the sunset happily after ever. Maybe this time...........
Initial Claims will tell me the direction of the market. Maybe that will wake up folks to think that the Fed is not going to ride to the rescue, all they can do is stuff the banks with money they won't lend. CPI should tick upward--and all of these outlooks and stats will occur PM. Gold prices and silver prices are "tapering" this morning after yesterday's selloff.
I'm buying dips, but they have to be substantial, unjustified, etc.
More miserable housing stats won't stop this market imho, nor will lousy claims, there is five years of "the Fed will save me" in the backs of minds of investors and the little guy is showing up late to the party imho.
The Fed is leaving the building, and folks are in for a rude shock, but not yet, not yet. Even the yahooligans finance videos are talking moe-moe, I suspect when Larry and Curly show up, it will be nyuk nyuk out the door.
The Empire manufacturing index deflated, at least they didn't fire anybody or offer weather as an excuse. It is the snowiest winter in a #$%$ age, 10th highest on record. For five years now, manufacturing and business has been waiting for the other guy to flinch and hire. With 70% of the workforce in small co's, the little guy is the least protected and afraid as Japan.
Futures are up, silver is down compared to yesterday, but yesterday never made it to the record books, it was a US holiday.
mardermj I think when the weather gets better like this week the claims number is gonna soar....peeps with no job, no car cant file......I think SLW is safe and sound right now shocking how cheap GDX is too crazy flipping market
The real estate market is what is keeping a major portion of this economy going and BTW is the safest place to invest, you can always rent your property provided you got location location location