Silver as an investment

Category Archives: Chicago PMI

Chicago PMI Drops From 6 Year Highs As New Orders Slow

After reaching its highest since March 2011 in October, Chicago Business Barometer dropped in November (but beat expectations) amid slowing New orders. Chicago PMI dropped from 66.2 to 63.9, better than the 63.0 expectations… Under the covers: Prices paid rose at a faster pace, signaling expansion New orders rose at a slower pace, signaling expansion […]

US Futures Rebound After Disappointing Chinese, European Data

Yesterday’s sharp Chinese selloff is now a distant memory after the BTFDers emerged, and this morning U.S. equity futures are once again levitating as the FOMC begins its two-day policy meeting, following an uneventful BOJ announcement on Tuesday morning which left all QE parameters unchanged. Asian stocks traded mixed steady while European shares climb. The […]

Chicago PMI Explodes Higher, Beats By 5 Standard Deviations

Everything is awesome again in Chicago apparently… Against expectations of a modest drop from 58.9 to 58.7, MNI's Chicago Business Barometer exploded higher to 65.2 in September…   This is well above the highest analyst expectation and 5 standard deviations above expectations… Under the hood, it's also awesome… Prices paid rose at a faster pace, […]

August Payrolls Preview: Prepare For Disappointment

If there is one common theme across sellside previews of tomorrow’s nonfarm payrolls number, expected at 180K after a surprising jump to 209K in July, it is to brace for disappointment, or in Wall Street parlance, “downside risks.” And it’s not because of Harvey which hit the US far too late in the month to […]

July Payrolls Preview: Smooth Sailing But Watch Out For Cars

At 8:30am on Friday, the BLS is expected to announce that in July the US created 180K jobs, down from 222K in June though still in line with the 6-month average of 180K, with the biggest downside risk a slowdown in durable manufacturing payrolls as auto production slumped. Sellside expectations: UBS: 175K Barclays: 175K HSBC: […]

Dow Set To Open Above 22,000 As Global Stocks Levitate Higher

Welcome to August: you may be surprised to learn that S&P 500 futures are once again levitating, higher by 0.3%, and tracking European and Asian markets. Asian equities traded higher across the board after China’s Caixin Manufacturing PMI beat expectations and printed its highest since March, refuting the decline in the official PMI data reported […]

Stocks Rebound As Chicago PMI Changes Its Mind, “Corrects” Earlier Dismal Data To Highest Since 2014

What a total farce. After Market News International reproted a dismal 4-month low drop in Chicago PMI this morning which sparked a decent reality check drop in stocks, they decided to change their mind. 0945ET – U.S. MAY MNI CHICAGO REPORT BUSINESS INDEX AT 55.2; EST 57.0 – lowest since Jan 2017 1121ET – CORRECT: […]

Markets Wrap: Stocks Flat In Quiet Session With US, UK And China Closed For Holiday

U.S. markets are closed for the Memorial Day holiday, and with UK and Chinese markets also closed for various holidays, it has been a quiet start to the week, with S&P futures essentially unchanged, trading at  2,415, up 0.06%, a new all time high. European stocks opened marginally lower in quiet trading but have since […]

Global Stocks Slide, S&P Futures Tumble Below 50DMA As “Trump Trade” Collapses

Global stocks are lower across the board to start the week, as concerns about Trump’s administration to pull off a material tax reform plan finally emerge, pressuring S&P futures some 20 points lower this morning, following European and Asian shares lower, while crude oil prices fall unable to find support in this weekend’s OPEC meeting […]

Chicago PMI Rebounds To 2-Year Highs After January Crash

After crashing to its lowest print in a year (in January), MNI’s Chicago PMI soared in February to 57.4 – well above the highest expectation – to the highest since Jan 2015. The median estimate of 35 economists was 53.5 – this surge to 57.4 is above the highest of those expectations with 6 of […]