fbpx Accept-Encoding: deflate, gzip

Trump’s Impeachment Odds Surge
The Market Bull 2019

00:00 / 2:10

The Market Bull – October 24, 2019

The major averages finished mixed as earnings dragged the Dow lower but pushed the NASDAQ highers. Trump’s impeachment odds surge.

Durable Goods Orders missed expectations in September falling 1.1%. Weakness was notable in non-defense capital goods as this series fell markedly for a 4th month in the last 6. The proxy for business spending non-defense capital goods ex-aircraft slipped .5%, a second consecutive decline following a flat month. A trend is generally considered 3-months, something we almost have with this series.

While the trend continues higher, new home sales slipped .7% in September to 701,000 units annualized. On a year ago basis sales are up a respectable 15.5%. All regions fell except the Midwest, the West was particularly weak dropping 3.8% for the month. Month’s supply was unchanged at 5.5, more or less about neutral. The median price plunged 10.7% for the month and is down 8.8% from a year ago.

The Kansas City Fed regional index slipped a point in October to -3 it’s 4th consecutive reading in the red. Weakness was noted in new orders -13, and employment -6 as both marked a 4th consecutive month in negative territory. Price data was mixed, but essentially flat for a 3rd consecutive month.

Standard and Poors 500 Index closed at: 3,010.29 up 5.77
NASDAQ finished the day: 8,185.80 up 66.00
Gold ended trading at: $1,505.30 up $9.60


Enjoy this blog? Please spread the word :)