Author Archive: Jeremy Parkinson
New Lows For Initial Jobless Claims
It was a big week for initial jobless claims. Versus economist expectations for 230,000, only 215,000 Americans filed initial claims for jobless benefits during the week of March 23rd. That’s a new cycle low and the lowest since the week of January 26, 1973. If claims drop 2,000 per week lower than their current levels, […]
Weekly Unemployment Claims: Down 12K, Annual Revisions
Here is the opening statement from the Department of Labor: Note: This week’s release reflects the annual revision to the weekly unemployment claims seasonal adjustment factors. The seasonal adjustment factors used for the UI Weekly Claims data from 2013 forward, along with the resulting seasonally adjusted values for initial claims and continuing claims, have been revised. In […]
Consumer Bites The Dust In First Quarter
Real personal income rose 0.2% in February but real spending is flat. For 2018, real spending is negative. The BEA’s Personal Income and Outlays report for February 2018 is negative for first quarter GDP. Disposable Personal Income (DPI) jumped 0.4 percent in February, but real (inflation-adjusted) DPI rose only 0.2%. Personal Consumption Expenditures (PCE) rose 0.2% but […]
S&P 500 Index: Support/Resistance Levels
Near-term resistance on the S&P 500 Index (SPX) sits at 2632.91 and support at 2585.68…formed by a one-day moving average (mid-point of candle high/low — input source is hl2) of the February 8 & 9 candles, as shown on the daily chart below. Longer-term Andrew’s Pitchfork channel support converges at this month’s low of 2585.38, as shown on the monthly chart below. So, short and long-term moving […]
Major Currency Pairs – Time To Get On The Train
After a sharp post-breakout increase on Monday, we saw even sharper decline during yesterday’s session. Thanks to the currency bears’ attack the euro moved lower against the greenback, which gave the sellers another ally. Will we see EUR/USD under 1.2200 in the coming week? EUR/USD Invalidated Breakout Yesterday, we wrote that currency bears pushed EUR/USD lower […]
5 S&P 500 Stocks On The Forefront Of Q1 Slump
Although Wall Street had the best start to 2018 in more than three decades, things turned bitter to end the first quarter, with many sectors and stocks entering correction territory from their latest peak. With a day’s trading left, the S&P 500 is down 2.6% and on track for the worst quarter in two and […]
How Will Intuit Improve Its Growth Rate?
Last month, cloud-based accounting and tax giant Intuit (NASDAQ: INTU) reported a strong second quarter that beat analyst estimates. However, its soft outlook is causing analysts to ponder the growth rate question. Intuit’s Financials Founded in 1983, California-based Intuit reported revenue of $5.2 billion in fiscal 2017, growth of 10.3%. It serves 46 million customers […]
The Commuter Parking Tax Break
Many employers provide parking to employees who commute to work, which can be viewed as an untaxed fringe benefit of their jobs. The value of this benefit depends on where the parking is located. If the employer is in a uncongested suburban or rural area, where parking is generally free for everyone, then the value […]
Heading Into The Long Weekend Stocks Getting A Buy But So Are Treasuries
A bit of a curious start to the last day of trading with stocks and treasuries getting a buy. Chris Temple joins me to outline that factors at play to end the quarter. We also discuss how political factors have caused some serious volatility in the markets this quarter and what we should expect and […]
Chicago PMI Plunges To 1 Year Lows (But Inflation Is Surging)
For the 3rd straight month, Chicago Purchasing Managers are losing their religion as the business barometer is battered to 12-month lows(with the biggest drop in three years). Chicago PMI printed a gravely disappointing 57.4 in March (against expectations of a rise to 62.0 from February’s 61.9 print)… This is below the lowest analyst’s estimate… (Forecast range 59 […]
