Tag Financial News

Tag Financial News

MacGray Matters – Financial News – Week of August 2, 2010

John Thomas August 3, 2010 Tags:

MacGray MatterTM                                           August 2, 2010

THE ROLLER COASTER RIDE BACK UP:  After a horrible June, the domestic equity markets ended a very positive July.  The Dow Jones Industrials was up 0.40% for the week ending up 7.54% for July.  The S&P 500 was down 0.10% for the week, ending a July that was up 7.23%.  The NASDAQ Composite was down 0.65%, ending July up 7.3%.  All three indices are hovering near break even for the year.

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MacGray Matters – Financial News – July 26, 2010

John Thomas July 26, 2010 Tags:

MacGray MatterTM                                                                                            July 26, 2010

GOOD NEWS DROWNS OUT BAD, EQUITIES RISE:  There was a fair bit of bad news this past week in the unemployment and housing numbers.  In addition, Ben Bernanke’s testimony was far from a Knute Rockne speech.  However, the markets gained.  A big driver for domestic equities was positive earnings reports.  Among the companies that beat quarterly expectations were Caterpillar, 3m, Air Products, UPS, Morgan Stanley, Wells Fargo, Ford, Honeywell and McDonalds.  In addition economic reports showed surprise growth in European manufacturing and United Kingdom retail sales.  German confidence data came out stronger than expected on increasing exports.  The Dow rose 3.24% (down 0.03% for the year).  The S & P 500 rose 3.55% (down 1.12% for the year) and the NASDAQ Composite rose 4.15% (up 0.01 for the year).  We seem to be back to square one again for the year.  

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MacGray Matter – Financial News Update – July 5, 2010

John Thomas July 5, 2010 Tags: ,
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MacGray MatterTM                                                                                            July 5, 2010

UNEMPLOYMENT NUMBERS ADD TO A NEGATIVE WEEK:  On Friday, the Department of Labor reported that non-farm payrolls dropped by 125,000 jobs due largely to the Census Bureau laying off 225,000 temporary workers.  Private sector job growth was positive by 83,000 jobs, but that was less than “expected” and not near enough to make up for the loss of government jobs.  Manufacturing jobs fell by 8,000 after a three-month positive streak.  I continue to find this particular graph found on calculatedrisk.com (and used with permission) to be a key one to follow:

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Financial News Update – August 24th

John Thomas August 24, 2007 Tags:

Durable Goods Orders soared in July, rising by a far greater than expected rate of 5.9% and scoring their largest gain in about a year.  Transportation goods such as airplanes, autos, and trucks led the surge, but other long-lasting goods like machinery, computers, and steel products also showed strong demand.  When excluding vehicles, Durable Goods increased by a still-strong 3.7%.  This report is volatile from month to month, so Bonds didn’t react much on the strong economic news.

Sub-prime news abroad – The Bank of China (BOC) revealed a far greater exposure to US sub-prime mortgage investments than expected.  The BOC disclosed about 10% of their US Dollar denominated assets consisted of sub-prime mortgage investments valued at $10 billion.  This story will continue to develop.

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Financial News – Week of July 2, 2007

John Thomas July 3, 2007 Tags:

Sales of new single-family homes fell 1.6% in May, far better than the 6.2% decline Wall Street had anticipated, the Commerce Department said June 26. The median price of a new home fell 0.9% to $236,100 in May, down from $238,200 in May 2006.

Existing home sales fell 0.3% in May to 5.99 million units, the slowest sales pace in four years, the National Association of Realtors said June 25. The median price of an existing home was $223,700, down 2.1% from a year earlier, marking the 10th straight month that the price has shown a year-over-year decline.

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Financial News for June 2007

John Thomas June 27, 2007 Tags:

Financial News for June 2007

Construction of new homes in May 2007 fell to a seasonally adjusted annual rate of 1.47 million units, a 2.1% drop from April 2007 and a 24.2% decline from a year ago, the Commerce Department reported June 19, 2007. The decrease matched economists’ expectations, and reflected weakness in the South and West, which offset construction gains made in the Northeast and Midwest.

Housing permits, considered a good barometer of future activity, rose 3% in May 2007, but the increase followed a 7.1% plunge in April 2007. Last month’s stronger activity originated from a rebound in permits for apartment construction. Meanwhile, mortgage applications for single-family homes fell 1.8% and have been down four of the past five months.

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Financial News for March 2007

John Thomas April 1, 2007 Tags:

Sales of existing homes unexpectedly rose by 3.9% in February, the largest monthly gain in three years, the National Association of Realtors reported March 23. The price of a median home sold last month dropped to $212,800, down by 1.3% from the same month in 2006, marking a record seven straight months that the median home price has fallen.

Construction of new homes and apartments rose 9% in February to a seasonally adjusted annual rate of 1.53 million units, the Commerce Department reported March 20. Construction had fallen by 14.3% in January. Even with the better-than-expected rebound, construction activity remained 28.5% below last year’s level.

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Financial News – December 2006

John Thomas December 12, 2006 Tags: ,
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Financial News December 2006

On December 12, 2006 the Federal Reserve held interest rates steady by keeping the Federal Funds Rate at 5.25% for a fourth straight meeting, a move widely anticipated by industry experts. This comes on the coat tails of the Fed calling the recent cooling in the housing market “substantial.”

Even so, retail sales jumped 1% in November, their largest rise since July 2006, the Commerce Department reported December 14. Excluding autos and gasoline, which gives a more reliable core measure of household spending, retail sales increased 0.9%. Analysts had forecast a 0.2% rise in retail sales in November. November’s sharp rise supports the Fed’s view that there is little evidence that a cooling housing market will have a negative effect on the wider economy.

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