ISM Services Report Hints at Mixed Bag of Sentiment; (AA)
I suppose every analyst has their favorite economic indicators, whether due to the specific sectors they follow or their slant towards bottoms-up or top-down analysis. To the latter, I try to as much of both as my resources allow, and to the former, I am a big fan of the ISM services report. (you can [...]
ISM Report Continues Streak of DOA Indicators
This morning’s release of the November ISM Report is yet another economic indicator arriving DOA, reflecting the frozen state of global markets ever since mid-September.
The headline number of 36.2% (a diffusion index - read this PMI tutorial to learn more) is the lowest reading since May of 1982, and 2.7 percentage points lower than the [...]
Industrial Production Comes in OK
Core industrial production rose 1.3% following a revised 3.7% drop in September due to the effects of hurricane season. In a further revision, the FRB updated its remarks from September to say that a full 2.5 percentage points of the Sept. drop was due to the hurricanes. The strike at Boeing (BA) has also skewed [...]
Don’t Fear the Reaper; Economic Indicators May Be DOA
With the majority of 3rd quarter earnings now in the public domain, equity markets continue to live in a world severely lacking in quality information. Our re-test of market lows late last week is evidence enough that we’re not sure the economy will rebound at all in 2009. We’re hearing of curtailed production and lowered [...]
Jobs Report Bad, But Not Terrible
Today’s all-important Employee Situation Report certainly wasn’t pretty, with 240k jobs lost in October versus estimates of 200k. The first paragraph of the release from the Bureau of Labor Statistics deserves to be read in it’s unedited form:
“Nonfarm payroll employment fell by 240,000 in October, and the unemployment rate rose from 6.1 to 6.5 percent, [...]
Barron’s Notes Disparity Between Individual Company, SPX Estimates
There was an interesting article in Barron’s discussing the disparity between the consensus estimates for individual companies in the S&P 500, and the aggregate SPX earnings measure that has been assigned by global and U.S. strategists at the major institutions. Sounds a bit confusing, doesn’t it?
Well, it could have been presented better in the article [...]
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Investopedia Commentary- Where Third Avenue Sees Value (BAM, GGP, SPG, ESV, NBR)
- America's Biggest Companies Look Reasonably Priced (XOM, MSFT, QQQQ, AIG, BAC)
- Sandridge Energy Shifts Towards Oil (SD, OXY)
- Stong Dividends Worth A Look (AINV, STD, FNF, NYB, PBCT, NLY, CIM, EQR, HRP, MFA)
- The Bear Market Bottom - One Year Later (SMRT, FITB, DNDN, LVS)
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