August Housing Starts Better Than Estimated The Housing Starts for August, at a seasonally adjusted annual rate, came at 1, 282,000 units, which is +9.2% above July’s revised rate of 1,174,00 units and better than what the market was expecting, which was 1.24 Million units. The single family units starts increased by +1.9% in August…
Consumer Staples was the best sector over the past 30 days followed by Technology. Defensive sectors are underperforming since November. Industrials, Technology and Financials are showing relative strengths.
Germany German XETRA DAX broke above a symmetrical triangle on weekly timeframe in early August 2016, by rising above 10500.00 (Chart 1). From August to November 2016 it stayed within a horizontal trading range with an upper limit of 10830.00 and a lower limit of 10170.00. In early December it broke above that trading range. The 100%…
For the first time since the fourth quarter of 2011, the Big three U.S. banks – Bank of America, Citigroup and JP Morgan Chase – missed consensus earnings estimates. Bank of America reported actual EPS of $0.25 compared to the mean estimate of $0.32; Citigroup reported EPS of $0.06 whereas the average estimate was $0.10; and JP Morgan Chase reported EPS…
Monday, March 24th 2014, is the day for European Flash PMI. The data for March show that services and manufacturing sectors in France are expanding while contracting in Germany. The French flash Composite Output Index rose to 31-month high of 51.6, up from 47.6 in February and above estimates. Services sector expanded for the first time and…
Late last year, the US market bottomed on November 16, 2012. Since then it has been powering higher defying all odds. During this time – 196 calendar days or 134 trading days – the index has not had a significant pullback. Before last week’s decline, it had only three shallow pullbacks averaging -3.43% and lasting…
Last week started a volatile period for Nikkei 225. As we noted on May 24th, there are two opposing forces acting on the Japanese economy. One is Abenomics and the other is formed by a combination of fundamental reasons, namely –1) Weak closing of S&P 500 following confusing testimony of Chairman Bernanke; 2) Volatility in…
The tech bellwether, Intel has had some tough trading days in the last few weeks. In My 2012, INTC made an eight year high of 29.27. Since then it has been downhill for the semiconductor behemoth. First, the news came in August that Warren Buffet’s Berkshire Hathaway had dropped its Intel stake. Berkshire shed all…
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