Category Archives: Wholesale Inventories
Wholesale inventories plunge and Kim shoots off some missiles… but Powell panders to TBTF banks and GOP pushes tax bill = so buy mortimer buy… Overnight saw The National Team step in and save China… But today's market action was dominated by the usual opening idiocy, tax-reform headlines, Jerome Powell comments, and North […]
US equity futures and Asian shares are flat this morning with European shares treading water ahead of the ECB’s policy meeting in which it’s expected to announce a tapering to its €60bn in monthly QE. On this busiest day of Q3 earnings season, companies set to report earnings include Alphabet, Microsoft, Amazon and Intel, while […]
After tumbling in April, Wholesale Inventories bounced modestly in May (up 0.3% MoM) based on preliminary data. Interestingly Retail Inventories rose 0.6% in May, the biggest jump since January. However, Q2 GDP still faces a headwind as wholesale inventories are down 0.13% so far in April and May.
This week will be all about rhe “Thursday Turmoil Trifecta” when the UK general election will be highlight of a busy week together with the ECB monetary policy meeting, while rounding off events in the US will be James Comey’s first public testimony since he was fired by Donald Trump in which he is expected […]
S&P futures were fractionally lower from yesterday’s record high as European stocks declined and Asian stocks were mixed, pressured by yesterday’s 5% plunge in crude after OPEC unexpectedly “failed to surprise” markets, and announced the bare minimum supply cut extension that was expected by oil traders, who in turn puked long positions. It wasn’t just […]
Retail and Wholesales Inventories in April dropped 0.3% MoM – dramatically missing expectations of a 0.2% rise (no economists at all expected a drop in inventories). Retail Weak… And Wholesale weak… The biggest driver of the drop was a 0.5% MoM drop in Motor Vehicle inventories. This does not bode well for Q2 GDP…
While we wait to see if the Atlanta Fed will cut its final Q1 GDP estimate ahead of tomorrow’s official print to 0% or negative, here comes JPM which after slashing its Q1 GDP tracker from 0.6% to 0.4% yesterday, having started the quarter – like most others on Wall Street – at 3%, just […]