Month: September 2015


Personal Income and Outlays Slowing Trending Higher


Personal income rose 0.3% and spending rose 0.4%. The consumer is making a little more money and spending a little more money at the same time, while inflation is very low. That’s an alright combination. It’s not good, but it’s not bad either. Wages and salaries rose +0.5 and +0.6 percent over the last two Read More »


GDP Stronger Than Thought +3.9%


Second quarter GDP came in at +3.9 percent. Very nice! The main reason for the better than expected number was that personal spending was stronger than originally thought. Consumer spending also pushed the final sales component up +3.9 percent for a 4 tenths upward revision. The third quarter GDP is forecast to come in much Read More »

New Home Sales Highest Since February 2008


New home sales came in at 552K for the month of August. The consensus range was 500K to 531K. This is the highest level since February 2008! The chart of new home sales show a clear strong uptrend: Stock traders track new home sales because they have a powerful multiplier effect throughout the economy. When Read More »

Duragle Goods Orders August 2015

Durable Goods Orders Drop -2% In August


Durable goods orders dropped -2% in August. This reading makes sense as last week’s industrial production data was also weak. The rising U.S. dollar and the global economic slowdown are hurting the factory sector. Both aircraft and motor vehicles were weak. Orders for aircraft fell -12 percent in August while vehicle orders fell -1.5 percent. Read More »


Existing Home Sales Slow But Still Strong


Existing home sales came in at 5.31 million for August. Although that’s a slight slowdown, existing home sales are still in a powerful uptrend. July was revised down to 5.58 million. Existing home sales are up 6.2 percent year-on-year. The year-on-year median price is up 4.7 percent to $228,700, which is the lowest since August Read More »

William Blair Raised XRAY to Outperform



Fed Hawks Reasons Why Rate Hike Should Have Happened


Two Fed hawks gave their reasons why they thought rate hikes should have happened in September. The Richmond Federal Reserve President Jeffrey Lacker is a voting member, while the Federal Reserve Bank of St. Louis James Bullard is not. Let us briefly look at each of these two bankers opinions on why the Fed should Read More »


Philadelphia Fed Business Outlook Survey


Buried in the wake of the Federal Reserve news stories that saturated markets yesterday was the Philadelphia Fed Business Outlook Survey. We have been tracking the Philly Fed Business Outlook Survey for months now and the way I have chosen to interpret this report is that the rising U.S. dollar and slowing global growth is Read More »


Advanced Energy Announces $150M Share Buyback



Industrial Production August 2015

Industrial Production Points To Weak Consumer


Industrial production fell -0.4% in August, pulled down by a huge plunge in motor vehicle production of -6.4 percent. The manufacturing component fell -0.5 percent. July’s total industrial production was revised 3 tenths higher to +0.9 percent and manufacturing revised 1 tenth higher to +0.9 percent. – Manufacturing Production: -0.5% v -0.3%e – Prior Industrial Read More »