
Big day for data as Q3 GDP was revised downward again, initial claims fell, The Chicago National Activity Index fell again, housing prices reversed course and leading indicators increased and consumer sentiment improved.
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Big day for data as Q3 GDP was revised downward again, initial claims fell, The Chicago National Activity Index fell again, housing prices reversed course and leading indicators increased and consumer sentiment improved.
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Mortgage applications fell last week. A sweeping revision to the data method has sharply lowered the last 5 years of existing home sales reports. But last month, sales rose.
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Mortgage applications rose, purchases dropped and re-finance applications up. The 30-year mortgage rate averaged 4.12%. Import prices rose due to spikes in petroleum prices, Export prices also rose.
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Mixed data today with retail sales disappointing, inventories building moderately and the Ceridian pulse Index barely budging.
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The U.S. trade deficit shrank in October with both imports and exports declining. The consumer sentiment index–while still at fairly depressed levels–rose.
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Initial Claims were down, Consumer Comfort steady and Wholesale Inventories jumped.
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The only economic release today is that the Mortgage Bankers Association reports that mortgage applications bounced back after Thanksgiving, up 12.8% last week. Purchases were up 8.3%, and refinance applications rose 15.3%.
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Today’s economic statistical releases are limited to retail sales numbers for the past week. Redbook and ICSC Goldman both show a lull in retail sales.
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Factory orders fell in October and the non-manufacturing ISM shows some slowing in the service sector.
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The NFIB Small Business Optimism Index came roaring back this month rising 1.3 points to a still depressed 90.2.In the weekly retail sales numbers, ICSC-Goldman reports same-store sales rose 1%, though the year-on-year rate dropped to 2.7%. Redbook, meanwhile, says year-on-year sales slowed significantly to 3.1%.
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It’s all about employment today. The Monster employment index rose three points to 151 as online recruiting increased in October. What everyone is really interested in today, though, is the monthly Employment Situation.
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Today is a big day for economic numbers: The Labor department reports that 103,000 new non-farm payroll jobs were added last month, a slightly higher than expected number, while the unemployment rate remained unchanged at 9.1%. The devil is in the details, as always, and the details are not quite as pretty. 322,000 people...
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Year-on-year total sales for the chain-store group are looking a little weak at 5%, and many chains are reducing sales and earnings guidance as a result.Initial unemployment claims were 401,000 for the week, showing little change from the same period last month.The Bloomberg Consumer Comfort Index rose to -50.2 last week, up from -53.0.
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The Mortgage Bankers Association reports that mortgage applications fell -4.3% for the week, with purchases down -0.8%, and refinance applications falling -5.2%.The Challenger job cut report indicates there were 115,730 layoffs last month, swollen by 30,000 jobs at Bank of America and a military troop cut of 50,000...
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Dale Franks gives his rundown on what to look for going forward from the economy, and the implications for investors: We’ve dropped off about 20% from the stock price highs of October, so we’re about due for a rally. Especially with the Fed obliging everyone with rate cuts. At this point, though, I’d...
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