Good, Bad & The Lovely 10.04.13

Good, Bad and Lovely
The Lovely: The US Gov’t Shutdown… Seriously DC? Hollywood can’t make this up!
  1. Markets haven’t imploded after the US Gov’t Shutdown…yet
  2. The U.S. ISM Chicago PMI rose to 55.7, topping estimates for 53. Read here
  3. The ISM manufacturing index jumped to the highest level in 2.5 years, easily beating estimates.  Read here
  4. Auto sales in the US remained healthy in Q3 which bodes well for the economy.
  5. Weekly jobless claims rose by 1k to a seasonally adjusted 308k which missed estimates for 314k. Read here
  1. The US Government Shutdown
  2. China said its HSBC PMI fell to 50.2, significantly below the flash estimate for 51.2. Read here
  3. The ISM service index slid to 54.4, missing estimates for 57 Read here
  4. ADP said private employers added 166k new jobs last month, missing estimates for 180k new jobs Read here


Good, Bad & The Lovely For The Week

Good, Bad and Lovely
The Lovely: Fed Meets Next Week and a lot of open questions: Taper? Not Yet? How Much?
  1. Market and leading stocks acting well
  2. China said its exports rose by 7.2% in August, topping estimates for a 6% gain. Read here
  3. US consumer credit growth rose at a 4.4% annual rate in July expanding by $10.4 billion, down from a 5% rate in June. This beat the Street’s estimate for $12.5 billion. Read here
  4. In China, Industrial output, retail sales, and fixed income investment all beat estiamtes which bodes well for the global economy. Read here
  1. Mortgage applications slid last week as rates hit their highest level for the year. Read here
  2. Refinancing activity plunged to the lowest level in four years Read here
  3. Retail sales only rose by 0.2% in August which missed estimates for again of 0.4%. Read here
  4. Preliminary reading of September consumer sentiment slid to 76.8, missing estimates for 82 Read here
  5. The Produce price index (PPI) rose 0.3% in August, just above the 0.2% estimate. Read here