US July CPI 3.4% y/y vs 3.4% expected
Prior was 3.5% CPI m/m +0.1% vs +0.1% exp Prior CPI was -0.4% Unrounded vs -0.349% prior Core readings: Core y/y 2.5% vs 2.5% expected Prior core was 2.6% Core…
Read More »South Korea’s Kospi rises 14%
It’s not a huge surprise given the rebounds in chip stocks today but it’s still unbelievable to see a national index swing like the Kospi has this week. I have…
Read More »Amazon shares jump after hours on strong earnings and a revenue beat
Shares of Amazong are quickly 12% higher after the company reported sales of $200.6 billion against $196.72 billion expected. Operating income was $22.5 billion against $196.46 bilion expected. That’s a…
Read More »Canada Q1 labour productivity falls 0.5%
Prior was -0.1% (revised to -0.3%) Unit labour costs +1.4% q/q, fourth consecutive gain (+3.2% y/y) Goods led the decline (-1.7%); ag/forestry cratered -8.6%, construction -2.3% Statistics Canada says business…
Read More »European stock markets paint a mixed picture as US stocks hit a fresh record
The S&P 500 just hit a fresh record high. Futures had been down more than 50 points at one time but the S&P 500 is now up 5 points to…
Read More »US March retail sales +1.7% vs +1.4% expected
Prior was +0.6% Ex-autos +1.9% vs +1.4% expected Prior ex autos +0.5% Ex autos and gas ++0.6% vs +0.4% prior (revised to +0.2%) Control group +0.7% vs +0.2% expected Prior…
Read More »US February PCE inflation 2.8% y/y vs 2.8% expected
Prior was 2.8% Core PCE (excluding food & energy): Prior was +2.8% Core m/m +0.4% vs +0.4% exp Unrounded core PCE ___% vs +0.285% m/m prior PCE excluding food, energy…
Read More »Canada January trade balance -3.65B vs -0.9B expected
Prior was -1.30B Exports 62.48B vs 65.55B prior Imports 66.13B vs 66.85B prior Separately: Wholesale trade -1.0% vs -0.6% expected (+1.8% prior) Building permits +4.9% vs -1.3% expected (+6.1% prior)…
Read More »Big divergence hits US stocks: Is the cyclical trade back on?
US equity markets have quickly turned lower after a positive open and it’s largely being driven by tech. The Nasdaq is now down 1% and some laggards include: PYPL -17.7%…
Read More »Atlanta Fed GDPNow 4.2% vs 5.4% previously
Some of the dumbest people in the world have been running around touting the 5.4% forecast from the Atlanta Fed as if it was a real economic number. Even Fed…
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