Real Spending Rises 0.3 Percent, Real Disposable Income Up 0.2 Percent
The BEA’s Personal Income and Outlays report for November shows real (inflation-adjusted) disposable personal income rose 0.2 percent and real spending rose 0.3 percent.To arrive at real numbers, subtract the PCE price index spending and income. Personal IncomeThe increase in current-dollar personal income in November primarily reflected an increase in compensation that was partly offset by decreases […]
Pity The Canadian Dollar As It Gets Hit From All Sides
Photo by Michelle Spollen on Unsplash The last month has not been kind to the Canadian dollar as a variety of different domestic and international developments combined to weaken the loonie. Since the start of 2024, the USD/CAD has appreciated by 7.5%. Worried Canadians travellers, especially at this time of year, and portfolio managers alike have seen the […]
Income And Spending Miss Estimates, But Show Steady Growth Above Inflation
Personal Consumption Expenditures (PCE) read on inflation (an alternative to the CPI, preferred by the Fed) increased +0.1% in November, and +2.4% over the last 12 months. With food and energy prices both rising +0.2%. If we exclude food and energy prices (core PCE), inflation rose +0.1% in November and +2.8% over the last 12 […]
Dow Up 752 Points, Extending Rebound From Dramatic Losses
The Dow Jones Industrial Average (DJI) is in rally mode, reversing its premarket losses to jump 752 points after yesterday snapping its 10-day losing streak. The Nasdaq Composite Index (IXIC) and S&P 500 Index (SPX) are firmly higher as well, as investors unpack this morning’s lukewarm PCE price index data.Meanwhile, bond yields are sharply lower today, following […]
Merck & Co Inc (MRK) DCF Valuation: Is The Stock Undervalued?
As part of a new series, each week we typically conduct a DCF on one of the companies in our screens. This week we thought we’d take a look at one of the stocks that is not currently in our screens, Merck & Co Inc (MRK). ProfileMerck makes pharmaceutical products to treat several conditions in a […]
Sensex Tanks 1,176 Points; Nifty Ends Below 23,650
After starting the day on a negative note, the benchmarks dragged further as the session progressed and ended the day on weak note.Benchmark equity indices, the BSE Sensex and NSE Nifty50, witnessed a sharp correction, ending the week’s last trading session down by over 1% each, weighed by selling across the counters.At the closing bell, […]
Jerome Powell: “I Think It’s Pretty Clear We’ve Avoided A Recession”
In response to a media member, who at Wednesday’s post-FOMC press conference, asked Jerome Powell if he thinks we’ve avoided the recession that everyone [read: the media and its obsession with the supposed negative indications of the former Yield Curve inversion] was talking about a couple of years ago, the Fed chief replied without missing […]
GBP/JPY Price Forecast: Slumps As UK Retail Sales Misses Estimates
Image Source: Pixabay GBP/JPY declined to near 196.00 as a higher number of BoE officials voted for an interest rate reduction on Thursday than what market participants had anticipated. UK Retail Sales rose at a slower-than-expected pace in November. Hotter Japan National CPI data for November has boosted BoJ hawkish bets. The GBP/JPY pair is […]
Russell 2000 At Important Risk-On Vs. Risk-Off Crossroads
The stock market has been charging higher into year end. Then came the Fed interest rate decision and comments.But even a couple weeks before this, an area of the stock market was already pulling back: the small-cap Russell 2000 Index.The small cap index tested its 2021 highs a couple of weeks ago, where a bearish weekly […]
Fed’s Favorite Inflation Indicator Holds At 7-Month High
The Fed’s favorite (until it starts rising) inflation indicator – Core PCE – printed cooler than expected for November (+0.1% MoM vs +0.2% MoM exp) which held it steady at +2.8% YoY (below the expected 2.9%) – tied for the highest since April…Source: BloombergHowever, Headline PCE rose to +2.4% from +2.3% – its highest since […]
