Latest Investment News

Latest Investment News

This Weeks’ Economic Numbers

and Media Data

Monday 10:00 hrs ISM Services October( 55.0 vs 55.1 ) 

U.S. and Japan hold biennial

joint military exercises amid

heightened tensions between

China and Japan.

Tuesday Election Day in U.S.
Wednesday 07:00 hrs MBA Mortgage Index 11/3( NA vs -4.8% ) 

10:30 hrs Crude Inventories 10/03

( NA vs -2.045 mln bbls )


15:00 hrs Consumer Credit Sept

( $ 10.0 bil vs $ 18.1 bil )

Thursday 08:30 hrs Initial Claims 11/03( 370K vs 363K ) 

08:30 hrs Continuing Claims 10/27

( 3250K vs 3263K )


China’s ruling Communist Party holds a

congress to appoint new leaders

 Friday 08:30 hrs Trade Balance Sept( -$45.4B vs – $44.2B ) 

08:30 hrs Export Prices Ex-Ag Oct

( NA vs + 0.7% )


Import Prices ex-Oil Oct

( NA vs 0.2% )


09:55 hrs Mich Sentiment Nov

( 83.0 vs 82.5 )


10:00 hrs Wholesale Inventories Sept

( 0.4% vs 0.5% )


OPEC publishes its monthly report on

oil market prices.

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Dow Industrials led all ten Groups with a modest gain of 1.43%. Financials were also strong posting a 1.07% advance. Consumer Goods rallied 0.94% and Consumer Services 0.68%. Telecomm concluded the winners up 0.39%. The remaining five were losers led by Oil and Gas off 1.16%; Utilities fell 1.06%; Health Care -0.68%; Technology following Apple dropped 0.19 and Basic Materials fell just 0.04%.

Earnings were mixed: Consumer discretionary stocks outperformed due to strong earnings from several components. Priceline (PCLN 634.74, +48.64) spiked 8.3% after beating on the top and bottom lines. The travel site operator reported earnings of $12.40, which was $0.58 ahead of the Capital IQ consensus estimate. Meanwhile, the third quarter revenue of $1.71 billion represented a 17.4% year-over-year increase, and was ahead of analyst expectations. Among miners, Newmont Mining (NEM: $ 48.74, -4.48) lost 8.4% after the company’s earnings of $0.86 and revenue of $2.48 fell short of the Capital IQ consensus forecast.

Friday’s session started on a higher note after the nonfarm payrolls report exceeded expectations, and pointed to 171,000 jobs added during October. However, the bullish sentiment faded quickly, and the major averages headed into the red. The S&P 500 crossed its flat line 60 minutes into the session and held just below that level for the remainder of the morning. The afternoon brought out additional sellers as the index headed further into negative territory before ending with a loss of 0.9%. The afternoon weakness was largely driven by Apple (AAPL: $ 576.80, -19.74) which lost 3.3%.

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Economic Data

Economic Reports last week were favorable if not ebullient. October Nonfarm Payrolls jumped by 171K vs  a 125K consensus and 148K in September. The unemployment rate ticked higher, increasing from 7.8% in September to 7.9% in October. That was exactly what the consensus expected.

Consumer Confidence rose 72.2 vs 72.0 and the Institute of Supply Management Report ( ISM ) at the beginning of the week came in at 51.7 above expectations of 51.0

While production returned to positive territory (52.4 from 49.5), much of the gain was the result of the continued paring down of order backlogs (41.5 from 44.0). Without a steady supply of new orders, production will not remain in the black.  Fortunately, the new orders index saw a solid boost in October (54.2 from 52.3).

The employment index weakened, falling from 54.7 in September to 52.4 in October. Even after the decline, employment levels have expanded for 37 consecutive months.

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