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US Futures are Flat After October Housing Data

US futures are flat after October housing data.  October housing starts rose 13.7% last month to an annualized rate of 1.29M, while building permits were up 5.9% to an annualized rate of 1.3M.  European shares were mixed after ECG President Mario Draghi said that they can remain patient when normalizing policy because inflation remains subdued.  Asian shares closed mixed with strength in Tesla suppliers in Taiwan after Tesla introduced their new electric Semi tractor trailer and surprise electric roadster.

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20 Hits

US Futures Rise as the House of Representatives Moves Closer to a Tax Reform Bill Vote

US futures rise as the House of Representatives moves closer to a tax reform bill vote.  The House is expected to vote on a tax bill this week and the GOP remains optimistic that the bill can pass.  Weekly jobless claims rose to 249K, but continuing claims fell to 1.86M.  Import prices rose 0.2% m/m and 2.5% y/y in October.  The Philadelphia Fed Business outlook Survey came in lower than expected at 22.7 for November.  At 9:15am, the market will get a read on October industrial production and at 10am, housing market index.  The 2yr Treasury rose to 1.7%, the highest level in nearly 10 years, as the yield curve continues to flatten.  European shares are higher as materials stocks rebound.  Asian shares were led higher as Japan bounced back with a 1.5% gain in the Nikkei 225.

 

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38 Hits

US Futures are Lower as Investors Weigh the Senate Version of the Tax Bill

US futures are lower as investors weigh the Senate version of the tax bill.  Investors seemed cautious as details of the Senate’s tax plan were revealed over concerns that the bill may not have enough support.  In economic data, October consumer prices rose by 0.1% and 2.0% yoy, both in line with estimates.  October retail sales rose 0.2%, above expectations of 0.1%.  The NY Fed Empire Manufacturing Survey was weaker than expected in November at 19.4.  European shares are lower, led by energy and materials stocks.  Asian shares closed lower, led by energy shares.  Japanese Q3 GDP came in better than expected, growing at a 1.4% annual rate.

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43 Hits

US Futures are Lower as Producer Prices Rise

US futures are lower as producer prices rise.  The Labor Department reported that producer prices rose 0.4% in October and 2.8% yoy, while core PPI was up 0.2% in October and 2.3% yoy.  The latest inflation data confirms a steady rise in wholesale prices.  The NFIB reported that small business confidence rose to 103.8 in October from 103 in September.  European shares are mostly lower despite stronger than expected GDP numbers out of Germany.  German Q3 GDP rose 0.8% from 0.6% in Q2.  Asian shares closed mostly lower on weaken than expected data out of China.  Chinese industrial production, fixed asset investment and retail sales were all weaker than forecast.

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31 Hits

Reporting Highlights Summary

Reporting period highlights summary thus far:

·        Economic growth across the globe has been solid, and there is a high correlation between GDP growth and corporate revenue growth.  While U.S.-oriented companies are meeting expectations, companies with international exposure are beating expectations.

·        The positive earnings surprise overall stands at roughly 6%, and 70% of companies are beating estimates.  The average over the past few years is 68% of companies beating by 4.7% on average.

·        Expectations are for revenues, earnings, and EPS growth of 5.5%, 7.9%, and 9.1%, respectively. EPS is on pace for 9.7%, assuming the current beat rate for the remainder of the season.  This is down from the 2Q final growth rate of 12%.

·        Companies beating on both the top- and bottom-lines have outperformed by 0.9%, while those missing on both have lagged by -2.0%.  This compares to +2% and -3% historically.  There have been several stocks down double-digit on disappointing earnings.

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54 Hits

US Futures are Lower After the Market Records its First Weekly Loss in 2 Months

US futures are lower after the market records its first weekly loss in 2 months.  Volatility picked up slightly last week and the S&P recorded a small weekly loss.  Earnings season is slowing down with 91% of the S&P 500 having already reported for Q3 2017.  European shares are lower as financial stocks lag.  Asian stocks closed mixed, with Japanese stocks lagging after a record run.

 

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43 Hits

Provisions of New Senate Tax Plan Released Last Night

The Senate formally announced its version of a tax reform bill last night.  While there are a number of variances in the Senate bill relative to the recently-announced House version, the most notable differences are: 

(1) the Senate’s delaying of the corporate tax rate reduction until 2019 (which rattled investors yesterday),

(2) the total exclusion of the state and local tax deduction (vs. $10K cap in House bill); and

(3) doubling the estate tax threshold to $11MM (House bill phases out estate tax entirely over time).

Click here for the key provisions of the 253-page Senate bill titled “Tax Cuts and Jobs Act.”

Now that we have the President’s framework, the House bill and the Senate bill, the reconciliation process will begin in earnest.  It is expected to be a challenging process, and we will be watching the developments closely to determine what we believe the ultimate bill will look like and what the implications are for markets and our clients.  For any questions, call United Asset Strategies at (516) 222-0021 or email This email address is being protected from spambots. You need JavaScript enabled to view it. .

 

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40 Hits

US Stock and Bond Futures are Lower for the Second Day

US stock and bond futures are lower for the second day.  Both stocks and bonds fell yesterday and are sliding today as investors digest earnings, taxes and inflation.  At 10am we will get a preliminary read on November consumer sentiment with estimates at 100.00.  European shares are mostly lower with most sectors lower as investors take profits.  Asian shares closed mostly lower with the Nikkei 225 falling for a second day after a record run.  China announced plans to ease restrictions on foreign ownership of Chinese financial companies.  The new rules would allow foreign ownership up to 51%.

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41 Hits

Provisions of New House Tax Plan Released

In an effort to keep you up to date on the new House tax plan released by Republicans, we’ve outlined some key provisions here.

There are still MANY details to be worked out, the process is going to be painful and key points will likely change over time.

United Asset Strategies is here to help steer you through the confusion.  Call (516)222-0021 or email at This email address is being protected from spambots. You need JavaScript enabled to view it.

for answers to your questions how the new tax plan will affect you and your business. 

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67 Hits

US Futures are Lower After Setting Fresh Record Highs on Wednesday

US Futures are lower after setting fresh record highs on Wednesday.  Consumer discretionary shares are lower on weaker earnings from retailers.  Jobless claims for last week were slightly higher than expected at 239k, with continuing claims also higher than forecast.  European shares are being led lower by material stocks on earnings news.  Also in Europe, Brexit talks have resumed with hopes of progress by year-end.  Asian shares closed mixed as China inflation data was slightly higher than expected.

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47 Hits

66 Million Americans Will See an Increase in Their Monthly Social Security and Supplemental Security Income Next Year

The Social Security Administration just announced its annual Cost-of-Living Adjustment (COLA) for 2018.

United Asset Strategies believe this is important to share since 66 million Americans will see an increase in their monthly Social Security and Supplemental Security Income next year.  

The purpose of the COLA is to ensure that the purchasing power of Social Security will not be eroded by inflation.

This is very welcome news since Social Security did not have an increase in 2016 and only a 0.3% increase in 2017.

Key provisions are listed below:

  • Social Security Cost-of-Living Adjustment (COLA) will increase to 2%.
  • Maximum amount of earnings subject to Social Security payroll tax will increase to $128,700. 
  • Earnings limit for workers younger than “full” retirement age will increase to $17,040. Social Security Administration deducts $1 from benefits for each $2 earned over $17,040. 
  • Earnings limit for workers turning “full” retirement age in 2018 will increase to $45,360.  Social Security Administration deducts $1 from benefits for each $3 earned over $45,360.

 For answers to your Social Security questions and to learn more about the Social Security Planning United Asset Strategies offers,

please call (516)222-0021 or email This email address is being protected from spambots. You need JavaScript enabled to view it. .

 

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52 Hits

US Futures are Flat on the Anniversary of President Trump's Election

US Futures are flat on the anniversary of President Trump’s election.  One year ago today we learned that Trump was to be the next President of the United States and measures of market volatility soared.  Here we stand one year later and US markets are significantly higher and volatility is near record lows.  MBA mortgage applications were flat week-over-week, with 1% rise in purchases being offset by the 1% fall in refinances.  European shares are mixed, with banking stocks underperforming over concerns for delays in US tax reform.  Asian shares closed mixed as China’s October trade data showed weaker than expected exports.

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53 Hits

US Futures are Little Changed After Fresh, Record Highs on Monday

US Futures are little changed after fresh, record highs on Monday.  At 10am, the market will get a look at job openings from September when the latest JOLTS report is released.  Fed Chair Janet Yellen is expected to speak at the Paul H. Douglas Award for ethics in government this afternoon in Washington.  European shares are mostly lower with Technology shares underperforming and Energy shares outperforming.  Asian shares closed mostly higher led by the Nikkei 225 reaching a 26-year high.

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55 Hits

US Futures are Flat as President Visits Asia

US Futures are flat as President visits Asia.  President Trump has been making headlines on his Asia trip, commenting that the US and Japan need to work together to fix trade imbalances.  Brent crude oil futures have been rising as news of a corruption crackdown in Saudi Arabia led to fears of destabilization in the region.  In deal news, Broadcom announced an unsolicited bid to buy Qualcomm, which would be the largest technology deal in history.  European shares are mixed with basic materials outperforming and telecom stocks lagging.  Asian shares closed mixed while President Trump visited the region.  Energy stocks were higher on strength in oil prices.

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59 Hits

US Futures are Higher Despite Weaker Job Growth in October

US Futures are higher despite weaker job growth in October.  The Bureau of Labor Statistics reported that October non-farm payrolls grew by 261K, well  below expectations for a growth of 325k.  While October’s job growth disappointed, August and September’s were revised higher by 39k and 51k, respectively.  The September trade deficit was roughly in line with estimates at -$43.5B.  At 10am, September factory orders and the October ISM Non-Manufacturing index will be released.  European shares are mixed on earnings, with automakers leading to the upside.  Asian shares closed mostly higher on strength in technology stocks as Apple suppliers rallied on earnings.

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58 Hits

US Futures are Trading Unchanged as the Market Awaits a Fed Chair Decision and Details on Tax Plan

US Futures are trading unchanged as the market awaits a Fed chair decision and details on tax plan.  At 3pm, President Trump is expected to announce that Jerome Powell will be the next chairman of the Fed.  The GOP is expected to release details of the proposed tax bill during today’s market session.  In economic data, unemployment claims fell to 229K for the week of 10/28, lower than estimates of 235K.  The preliminary read of Q3 productivity was better than expected at 3.0%, while unit labor costs were slightly lower than expected at 0.5%.  European shares have pared gains, some turning negative, after the BOE raised the Bank Rate for the first time in over 10 years.  The BOE raised the Bank Rate to 0.5% from 0.25% and said more hikes are expected to keep inflation under control as the pound has weakened significantly over the past year.  Asian shares closed mostly lower; however, the NIKKEI 225 bucked the trend on strength in automakers and energy stocks.

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56 Hits

US Futures are Higher as Global Markets Rally

US Futures are higher as global markets rally.  Stock markets around the world are higher led by energy and materials as commodities rally.  In the US, the Mortgage Bankers Association reported that mortgage applications fell 2.6% last week with weakness in refinancing.  ADP reported that October payrolls grew by 235K; however, September was revised lower by 25K.  At 9:45 am, we will get a final read on October PMI manufacturing index.  At 10 am, data on ISM manufacturing and construction spending will be released.  Lastly, at 2 pm the FOMC will announce the results from their 2-day meeting.  The market is not expecting any changes to policy in this meeting but will be looking for cues for upcoming adjustments.  European shares are higher on the back of energy and materials while retail stocks lagged.  Asian shares closed higher, with increased oil prices driving energy stocks higher.

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68 Hits

US Futures are Trading Higher as the FOMC Begins Their 2-Day Meeting

US Futures are trading higher as the FOMC begins their 2-day meeting.  The FOMC begins a 2-day meeting that will end with a policy announcement at 2pm on Wednesday.  A read on Q3 employment costs for wages, salaries and benefits showed a 0.7% increase, in line with expectations.  The Case-Shiller index showed that house prices rose by an annualized rate of 5.92% in August, roughly in line with expectations.  Other data set for release today include the Chicago PMI and consumer confidence for October.  European shares are being led higher by energy stocks on better than expected earnings  from BP.  Euro area inflation was reported softer than expected.  Asian shares closed mixed after weaker than expected manufacturing PMI in China and the BOJ announced no changes to the current monetary policy.

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76 Hits

US Futures are Lower After a Strong, Technology-Led Rally on Friday

US Futures are lower after a strong, technology-led rally on Friday.  US stocks look to take a breather after setting new, all-time highs on Friday.  In economic data, the Commerce Department reported that personal income rose 0.4% and spending rose 1.0% in September.  Personal income was in line with forecasts, while spending was slightly stronger than anticipated.  Former Trump campaign manager, Paul Manafort, is reported to have surrendered to authorities after being indicted over the weekend in relation to the Russia election probe.  European shares are being led lower by Consumer Staples stocks.  Asian shares closed mixed, with China underperforming amid concerns over liquidity in the Chinese bond market.

 

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68 Hits

US Futures are Being Led Higher After Earnings by the Tech-Heavy NASDAQ

US Futures are being led higher after earnings by the tech-heavy NASDAQ.  Strong earnings from Alphabet, Microsoft, Amazon, Intel and others have boosted the equity markets.  In economic news, the Commerce Department reported that Q3 GDP came in stronger than expected at 3.0%.  Estimates for Q3 GDP were in the range of 2.5 to 2.7%.  At 10 am the market will get a read on October consumer sentiment which is expected to be unchanged at 101.  European shares  are higher as remarks from Draghi were viewed as dovish and earnings reports continue to please.  Asian shares closed mostly higher on strong earnings in China.

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75 Hits

US Futures are Flat After Jobless Data and the ECB Decision

US Futures are flat after jobless data and the ECB decision.  Jobless claims for the week of 10/21 rose to 233K from 223K (a 44 year low) last week.  September trade data came in roughly in-line with estimates, showing a deficit of $64B.  European shares are higher on earnings and the ECB announcement.  Mario Draghi announced, as expected, that the ECB will leave rates unchanged and reduce asset purchases from 60B Euro to 30B Euro from January 2018 through September j2018.  Asian shares closed mixed on earnings news and in anticipation of the ECB announcement and its effect on global liquidity.

 

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74 Hits

US Futures are Slightly Lower as the Market Digests Earnings and Higher Yields

US Futures are slightly lower as the market digests earnings and higher yields.  The 10 yr Treasury rose above a key level of 2.40% yesterday and is seeing follow-through today to 2.47%.  September durable goods orders rose 2.2%and 0.7% ex-transportation, both higher than anticipated.  At 10am the market will get information on new home sales for September.  European stocks are mixed on earnings news, with Materials stocks leading to the downside.  Asian shares closed mostly higher, however, the Nikkei 225 bucked the trend with its first down day in 17 sessions.

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74 Hits

US Futures are Higher as Earnings Boost the Averages

US Futures are higher as earnings boost the averages.  Better than expected earnings and revenue from 3M and Caterpillar boosted the Dow.  European shares are mixed as investors weigh the uncertainty in Spain with corporate earnings.  Asian shares closed mixed as China’s 19th Party Congress came to an end.  Japanese stocks continue to be the bright spot in Asia, closing higher for the 16th consecutive day.

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79 Hits

US Markets Look to Open Slightly Higher as Earning's Season Kicks Into High Gear

US markets look to open slightly higher as earning’s season kicks into high gear.  Investors will get a good look at Q3 earnings this week as approximately 35% of S&P 500 companies will report earnings this week.  In Europe, shares are being led higher by health care stocks as their earnings help boost the sector.  The unrest continues in the Catalonian region of Spain as Catalonia attempts to defy the Spanish government and move forward with a declaration of independence.  Asian shares closed mixed although Japanese stocks were strong.  The Nikkei closed higher for the 15th consecutive trading day after Japanese Prime Minister Shinzo Abe secured enough votes for re-election.

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87 Hits

US Futures are Higher on News That the Senate Passed a 2018 Budget Resolution

US Futures are higher on news that the Senate passed a 2018 budget resolution. With a 51-49 vote, the Senate approved a budget that will now have to be reconciled with the House’s version.  The passage of the budget is viewed as a key step toward tax reform.  Treasury yields are higher on the news as the FOMC has not accounted for tax reform in their current projections.  At 10am, the market will get a reading on September home sales, which are expected to fall slightly to 5.3M units.  European shares are higher, led by banks and materials stocks, on positive earnings results.  Asian shares closed higher despite warnings on Thursday from a Chinese Central Governor’s warning of too much optimism leading to sharp declines in asset prices.

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93 Hits

US Futures are Lower After Another Record-Setting Day

US Futures are lower after another record-setting day.  The Dow closed above 23,000 yesterday for the first time led by strong results from IBM.  Futures today are pointing to a lower opening on the 30th anniversary of “Black Monday.”  In economic data, weekly jobless claims fell by 22K to 222K, marking the lowest jobless claims data since 1973, according to Bloomberg.  The Philadelphia Fed reported that their manufacturing index rose to 27.9 in October, well above the estimate of 22.  Prices paid also rose more than expected to 38.1 from 34.4.  European shares are lower on mixed earnings result.  Asian shares closed mixed as China’s 3Q GDP growth of 6.8% YOY failed to excite investors.

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82 Hits

US Futures are Trading Higher Despite Weaker Housing Starts

US Futures are trading higher despite weaker housing starts.  September housing starts declined for the 3rd month in a row to a 1.127M annualized pace, lower than the estimates of 1.17M.  Housing permits also disappointed at 1.215M against estimates of 1.238M.  Later today the market will get clarity around the data that the Fed considered in their September meeting when the Fed’s Beige book is released at 2pm.  European shares are trading higher on better earnings.  Asian shares closed mostly higher on the commencement of the 19th National  Congress of the Communist Party of China.  President Xi Jinping highlighted China’s past achievements and the challenges of the future.

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84 Hits

US Futures are Flat as Investors Digest Earnings and Economic Data

US Futures are flat as investors digest earnings and economic data.  The Labor Department reported that September import and export prices came in higher than expected, rising 0.5% m/m and 0.8% m/m, respectively.  The higher import prices are likely due to higher oil and food costs.  The Federal Reserve’s report on Industrial Production showed an increase of 0.3% m/m in September.  European shares are slightly higher.  Two ECB members will speak later today in Europe.  Asian shares closed higher for the 11th day in a row led by Japanese shares.

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99 Hits

US Futures are Slightly Higher as Earnings Season Kicks Off

US Futures are slightly higher as earnings season kicks off.  S&P 500 earnings are expected to grow 4.8% year-over-year in Q3.  The October Empire Manufacturing Survey came at 30.2, higher than the average estimate of 20.0.  European shares are being led higher by material stocks after China trade data.  Asian shares closed mostly higher as investors digested higher inflation data in China.

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91 Hits

US Futures Rose and Yields Fell as Economic Data was less than Anticipated

US futures rose and yields fell as economic data was less than anticipated.  September month over month CPI rose 0.5%, slightly below expectations of an increase of 0.6%.  Retail sales for September rose 1.6%, below the 1.7% expectation.  Lower inflation and retail sales gave the market hope for a slower Fed normalization.  The market will get readings on business inventories and consumer sentiment at 10 am.  European shares are mixed as speculation that the ECB will reduce monthly bond purchases from 60B to 30B euros in January.  Asian shares closed mostly higher after strong earnings from Samsung and China trade data was released.

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92 Hits

US Futures are Lower After Muted Response to Data

US Futures are lower after muted response to data.  First time claims for unemployment insurance came in at 243K, below the consensus estimate of 252K, as the market rebounded from the hurricane related data points.  The Bureau of Labor Statistics reported that producer prices rose 0.4% in September above the expectations for a 0.2% rise.  Producer prices, ex- food and energy, also came in higher than expected at 0.4% vs. expectations of 0.2%.  The big banks have begun reporting earnings with earnings and revenue beating expectations for both JPM and C.  European shares are mixed as Brexit discussions have come to a halt.  Asian shares closed mostly higher led by the Nikkei 225 touching a 21-year high.

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92 Hits

US Futures are Slightly Lower as Weekly Mortgage Applications Fall on Higher Rates

US Futures are slightly lower as weekly mortgage applications fall on higher rates.  The Mortgage Bankers Association announced that mortgage applications for the week of 10/6 saw applications fall by 2.1% on weakness in refinance activity as rates creep higher.  At 10 am, the market will get data on August job openings when the latest JOLTS report is released.  Expectations are for job openings to fall slightly to 6.16M in August.  At 2 pm, the FOMC will release the minutes from their September 20th meeting and new insights are not expected from the release.  Markets are currently pricing in a 92% chance of a rate hike in December.  European shares are mostly lower as political uncertainty continues.  Asian shares closed mostly higher.

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111 Hits

US Futures are Higher as the Market Awaits Comments From Two Fed Presidents

US Futures are higher as the market awaits comments from two Fed Presidents.   Minneapolis Fed President Neel Kashkari and Dallas Fed President Robert Kaplan will both speak later today.  The market continues to look for clues on the probability of future rate hikes.  The NFIB released the September Small Business Optimism report this morning that came in below estimates at 103.  Weakness was broad in sales expectations and not limited to hurricane ravaged states.  European shares are flat.  Spain’s IBEX slumped by about 1%.  The Catalan parliament is meeting today to consider a declaration of independence.  Asian shares closed mostly higher.

 

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115 Hits

US Futures are Higher as Volatility Remains Low

US Futures are higher as volatility remains low.  Equity markets are open today but bond markets are closed in observation of Columbus Day.  This week will kick off earnings season with some of the largest banks set to report earnings on Thursday and Friday.  European shares are mixed after the ECB stress test results showed European banks are managing interest rate risk well.  Asian shares closed mostly higher despite a lower than expected Caixin services PMI in China.

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114 Hits

US Futures are Lower Following the Release of September's Non-Farm Payroll Data

US Futures are lower following the release of September’s non-farm payroll data. September payrolls dropped by 33K, below the expectations of an increase of 80K.  The hurricanes had a significant impact on these numbers so too much weight shouldn’t be placed on this one month of data.  July and August non-farm payrolls were also revised lower by a combined 55K.  Rates rose across the board on the higher than expected rise in average hourly earnings of 0.5%, above the consensus of 0.3%.  Speculation that the Fed will raise rates in December gained traction.  The unemployment rate fell to 4.2% from 4.4%.  European shares were mostly unchanged as the markets absorb the US data and currency fluctuations.  Asian markets closed higher on signs of global economic strength.

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127 Hits

US Futures are Trading Higher as Economic Data was Mostly In-Line With Estimates

US Futures are trading higher as economic data was mostly in-line with estimates.  The August trade balance showed a deficit of $42.4B vs expectations of a deficit of 42.5B.  Jobless claims for the week of September 30th came in at 260k vs a consensus estimate of 265K.  Factory orders for August will be released at 10 am.  European shares are mixed as the ECB minutes failed to excite the markets.  The ECB minutes stated that while substantial policy support is still needed, conditions are falling into place that may provide the opportunity to scale back net asset purchases.  The ECB debated over a longer time-frame of smaller purchases and a shorter time-frame of larger purchases.  In Asia, shares were mixed for open markets.  China, South Korea and Hong Kong were closed for public holidays.

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129 Hits

US Markets Take a Breather as Futures Edge Slightly Lower

US markets take a breather as futures edge slightly lower.  In economic data, the ADP employment report for September showed that private sector jobs grew by 135K.  August was revised lower by 7K to 228K.  The Mortgage Bankers Association reported that mortgage applications dropped 0.4% last week.  The markets will closely follow remarks by Fed Speaker Janet Yellen as she is due to deliver the opening remarks at a conference in St. Louis later today.  European shares are mostly lower, led by retailers, since euro zone sales data was weak.  Asian shares closed mostly higher, while markets in China and South Korea remained closed for holidays.

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132 Hits

US Futures are Higher, Looking to Continue the Trend of Record Highs

US futures are higher, looking to continue the trend of record highs.  On Monday, most US markets closed at record highs as the low volatility rally continued.  Motor vehicle sales will be reported today and are expected to improve for September.  Germany’s stock exchanges are closed for a national holiday and the rest of Europe’s trading is near unchanged.  The exception is the Spanish IBEX, which remains under pressure from uncertainty around Catalonia.  Asian shares closed mostly higher after being closed on Monday.

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138 Hits

US Futures are Slightly Higher Despite a Mass Shooting in Las Vegas Overnight

US futures are slightly higher despite a mass shooting in Las Vegas overnight.  Sadly, more than 50 people are confirmed dead and over 200 injured after a gunman opened fire on a country music concert in Las Vegas on Sunday evening.  US stocks continue to shrug off negative headlines as the DJIA closed Friday with positive returns for its eighth quarter in a row.  Later today, economic data being reported will include PMI manufacturing, ISM manufacturing and construction spending.  Most European shares are higher with the exception of Spain.  The Catalonia referendum was in favor of independence from Spain and clashes with police resulted in many people being injured as they went out to vote.  Markets in China, India and South Korea were closed on Monday.  The Japanese Nikkei closed higher on improving business confidence.

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136 Hits

US Futures are Trading Mostly Flat This Morning on the Last Trading day of the Quarter

US futures are trading mostly flat this morning on the last trading day of the quarter.  So far this quarter, the S&P is up over 3% and the Dow is up close to 5%.  Later this morning we will get the Chicago PMI for September along with consumer sentiment.  Markets in Asia closed mostly higher led by the Hang Seng and European markets are trading higher led by the DAX.  

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135 Hits

US Futures are Slightly Lower This Morning as Investors Weighed Trump's Tax Plan

US futures are slightly lower this morning as investors weighed Trump’s tax plan.  Markets traded higher in the previous session as investors were optimistic about the new tax plan. However, some of that excitement seems to have waned as  questions arise as to how it will be implemented.  In economic data, the final read on second quarter GDP showed a 3.1% increase compared to estimates of 3% and weekly jobless claims came in higher than expected.  Markets in Asia closed mostly lower led by the Hang Seng and European markets are trading mixed with the FTSE lower while the DAX is higher.

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145 Hits

US Futures are Slightly Higher as the Market Awaits Details on President Trump's Tax Proposal

US futures are slightly higher as the market awaits details on President Trump’s tax proposal.  President Trump is expected to discuss details of his tax reform proposal at a speech in Indianapolis later today.  A slightly hawkish speech delivered by Janet Yellen yesterday has put pressure on bond prices, causing yields to rise. In economic news, August new orders for durable goods came in above expectations, rising 1.7%, led by non-core capital goods.  European shares are higher on optimism around the proposed merger in the rail industry between Siemens and Alstom.  Asian shares closed mixed.

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126 Hits

US Futures are Slightly Lower as Markets Look to Bounce Back Following a Sell-Off led by Tech Stocks

US futures are slightly lower as markets look to bounce back following a sell-off led by tech stocks.  Geopolitical tensions in North Korea continue to loom over global markets after North Korea’s Foreign minister said President Trump’s tweet was a declaration of war.  Investors will also look ahead to economic data this morning which include the flash services PMI, new home sales and consumer confidence.  Markets in Asia closed mostly lower led by the Nikkei and European markets are trading slightly higher with the DAX leading the way.    

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117 Hits

US Futures are Lower This Morning as Investors Weighed the Elections in Germany

US futures are lower this morning as investors weighed the elections in Germany.  Angela Merkel’s party will be the largest parliamentary group following the election but they will have less of a majority than expected.  Merkel’s party won 33% of the vote but that is down from 41.5% in 2013.  Investors will also be looking to see if the Obamacare replacement bill will gain any ground following revisions.  Asian markets closed mostly lower with the Hang Seng and the Shanghai indices closing lower while the Nikkei closed up.  European markets are trading mixed with the DAX higher but the CAC and FTSE  lower.    

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155 Hits

US Futures are Lower This Morning After Geopolitical Tensions Rose With North Korea

US futures are lower this morning after geopolitical tensions rose with North Korea.  The North Korean regime responded to President Trump’s UN speech with a warning of the “highest level of hardline countermeasure in history”.  Markets in Asia closed lower on the back of the threats from North Korea.  European markets are trading mixed with the CAC higher while the DAX is slightly lower.  Later this morning we will get PMI data.  

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158 Hits

US Futures are Slightly Lower as Markets Continue to React to the Fed's Statements From Yesterday

US futures are slightly lower as markets continue to react to the Fed’s statements from yesterday.  The Fed announced it will begin to unwind its balance sheet beginning in October and left open the possibility of one more interest rate hike this year.  In economic data, weekly jobless claims came in at 259,000 compared to estimates of 300,000 and the Philadelphia Fed said its manufacturing index came in at 23.  Markets in Asia closed mixed with the Shanghai index closing lower while the Nikkei inched higher.  European markets are trading mixed as the CAC leads the way higher while the FTSE is down slightly.  

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130 Hits

US Futures are Mixed This Morning as the Fed's Two-Day Meeting Comes to a Close

US futures are mixed this morning as the Fed’s two-day meeting comes to a close.  Investors are expecting the Fed to announce its plans to unwind its large balance sheet.  No major economic data was released this morning and later this morning we will get existing home sales.  Oil is trading higher with brent and crude up 1% each in early trade.  Markets in Asia closed higher led by the Shanghai index.  European markets are trading mixed as traders there await the announcement from the Fed.   

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155 Hits

US Futures are Higher This Morning as the Fed Begins Their Two Day Meeting

US futures are higher this morning as the Fed begins their two day meeting.  Investors will be looking to see if the FOMC will begin winding down its large balance sheet.  In economic data, US housing starts came in at 1.18 million compared to estimates of 1.175 million and import prices rose 0.6% compared to estimates of a 0.4% rise.  Markets in Asia closed mixed with most indices closing down with the exception of the Nikkei which rose on the back of a weaker yen.  European markets are trading mixed with the FTSE higher and the DAX down slightly.                                                                         

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149 Hits

US Futures are Higher This Morning as Markets Look to Reach new All-Time Highs

US futures are higher this morning as markets look to reach new all-time highs.  Economic data due out later today includes the NAHB home builders survey.  The market will look ahead to Wednesday’s announcement from the FOMC following their two day meeting.  Investors will be looking for clues as to when the Fed will tighten more and reduce their $4.5 trillion balance sheet.  Asian markets closed higher led by the Hang Seng and European markets are trading higher led by the FTSE.        

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138 Hits

US Futures are Mixed This Morning as Investors Weighed Economic Data and Geopolitical Tensions

US futures are mixed this morning as investors weighed economic data and geopolitical tensions.  Geopolitical tensions rose again as North Korea fired another missile over Japan yesterday.  Japan’s prime minister has asked the United Nations to act on this threat.  In economic data, retail sales fell 0.2% compared to estimates of a 0.1% rise and the Empire State manufacturing index beat expectations.  Later today we will get consumer sentiment data.  Markets in Europe are trading lower led by the FTSE as reports of a London Tube explosion, which is being treated as a terror attack, weighed on sentiment.  Asian markets closed mixed with the Shanghai index closing lower while the Nikkei closed higher.

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139 Hits

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