forget mid-term stuff… it’s mid-week

» Posted by on Oct 31, 2018 in Announcements, Shop Talk, Uncategorized | 0 comments

We continue to see signs of a very robust U.S. economy. Knowing consumer spending is two thirds of the economy it’s no wonder today’s consumer confidence number of 137.9 brought some buying into the market. The consensus range was 133.0 to 138.0. This number is near 18 year highs. The question remains will it hold through the fourth quarter. I would guess it’s likely to if the economy absorbs the idea of Fed rate hikes well.

7:00 AM EDT MBA Mortgage Applications:

Composite Index W/W Change 4.9%

Purchase Index W/W Change 2.0%

Refinance Index W/W Change 10.0%

8:15 AM EDT ADP Employment Report:

Consensus 178,00 Range 155,000 to 200,000 Prior 230,000

8:30 AM Employment Cost Index:

Consensus 0.7% Range 0.5% to 0.8% Prior 0.6%

9:45 AM EDT Chicago PMI:

Business Barometer Index Consensus 60.0 Range 58.0 to 61.1 Prior 60.4

10:00 AM EDT: State Street Investor Confidence Previous 88.3

10:30 AM EDT: EIA Petroleum Status Report:

Weekly Crude oil Change 6.3M barrels

Weekly Gasoline Change -4.8M barrels

Weekly Distillates Change -2.3M barrels    


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