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Archives by Year:
Mortgage Applications The Lowest Since February 2017
Mortgage Applications – More Weakness In MBA Applications The housing market weakened this summer. Home price growth is going to fall in the next few months. Affordability is a problem in many cities. The latest housing data comes from the MBA mortgage applications index. This composite index was down 3.2% week over year in the […]
Twenty Years Of Gains Gone
Pacific Gas & Electric has been hammered by fire liability concerns, and it is priced at the same level it was in 1998. It is down 75%, and this includes adjustments for dividends. But, hey, 1998 wasn’t so bad! The government was running a SURPLUS and we were about $16 trillion less in debt!
‘Core’ Retail Sales Growth Slowest In 6 Months
Following China’s gravely disappointing retail sales growth (as shadow banking credit contracts), US retail sales growth spiked 0.8% MoM (after a revised 0.1% drop in September). However, core retail sales rose only 0.3% MoM (below expectations). Everything rose except furniture and home furnishings -0.3%, and food service and retail places -0.2% Finally, the YoY growth […]
5 ‘Strong Buy’ Tech Stocks At Steep Discounts
All in all, November isn’t shaping up to be much better than October. The Nasdaq Composite Index fell back into correction territory on Monday, pulled down by major tech stocks. Concerns about overblown valuations have hurt the sector over the last couple of months, with the pain spread across chip stocks, software stocks as well as the […]
Inflation: An X-Ray View Of The Components – Thursday, Nov. 15
Here is a table showing the annualized change in Headline and Core CPI, not seasonally adjusted, for each of the past six months. Also included are the eight components of Headline CPI and a separate entry for Energy, which is a collection of sub-indexes in Housing and Transportation. We can make some inferences about how […]
Stagflation, Here We Come
What I’ve learned at the Federal Reserve is a new language which is called “Fed speak.” You soon learn to mumble with great incoherence. – Former Federal Reserve chairman Alan Greenspan DUBLIN – Alan Greenspan is alive and well. Aged 92, he was on TV yesterday telling viewers that “unless they get control of the […]
Import Prices Rise 0.5%, Export Prices 0.4% As Petroleum Once Again In Play
Import prices rose in October due to a jump in petroleum prices that won’t last. The BLS report on Import and Export Prices for October shows prices rose on the backs of a gain in energy that won’t last. Import Prices Imports Import prices advanced 0.5 percent in October, the largest monthly increase since a 0.9-percent rise […]
Global Slowdown Hitting Vulnerable Canadian Economy
As Canadian crude fathoms a record low this week (chart below), we have news today that Canadian home sales fell further in October. Heavily indebted and unprepared, the global downturn is coming at a particularly vulnerable time for Canada; made worse by the fact that what savings and pensions households do have, has been funneled into over-valued corporate securities […]
Gold Price Outlook: Recovery Testing Resistance At Prior Support
Gold rebounded from technical support this week with the rally now testing a critical inflection zone in price. These are the updated targets and invalidation levels that matter on the XAU/USD charts. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more. GOLD DAILY PRICE CHART (XAU/USD) Technical Outlook: In our latest Gold Weekly Technical Outlook we stated that “Put […]
