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Existing Home Sales Surge To 11-Year Highs As Inventory Crashes

Following strong starts/permits data but weak mortgage apps (biggest drop in 3 mo), existing home sales broke the tie with a yuuge beat, surging 5.6% MoM (against expectations of a 0.9% jump)…   …to the strongest pace of sales since December 2006. The median existing-home price for all housing types in November was $248,000, up […]


US Services Economy Slumps To 15-Month Low, Manufacturing Rebounds

Despite a resurgence in positve surprises in hard macro data, PMIs (and soft survey data) has been fading in recent months and Markit's preliminary December showed a notable divergence in the US economy as Manufacturing rebounded to 2017 highs and Servces slumped to 15-month lows. Higher prices for raw materials resulted in the strongest rate […]


Higher Wage Hope Hammered As American Worker Compensation Slumps

US labor productivity rose 3.0% QoQ in Q3, the biggest rise since Q3 2014.  Great news, right? Not so much, as the rise in productivity comes at the expense of the wages of the American worker who saw unit labor costs (wages) decline 0.2% (against expectations of a 0.2% gain) – down for 2 straight […]


Zandi Warns “Job Market Feels Like It Might Overheat” As Manufacturing Jobs Grow At Fastest Pace On Record

Following October's better-than-expected surge in ADP employment data (as goods-producing jobs soared), November was expected to see some slowdown, and it did, printing right on expectations at +190k (close to NFP's 195k exp). “The labor market continues to grow at a solid pace,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. […]


Britain’s Gravest Economic Challenge Isn’t Brexit

Authored by Paul Wallace, op-ed via Reuters.com, Few British budgets have mattered as much as the one that Philip Hammond will deliver to the House of Commons on Nov. 22. The chancellor of the exchequer must shore up Theresa May’s perilously shaky government ahead of a vital Brexit summit of European leaders in mid-December. At […]


Nano-Cap Stock Of The Day – Why Is This China Construction Company Up 300% Today?

Yesterday, it was CHF Solutions – a $10 million market cap medical device-maker – that exploded 500% higher on no news, no catalyst, no event. Today it is the turn of China Advanced Construction… China Advanced Construction Materials Group, Inc. produces construction materials for large-scale commercial, residential, and infrastructure developments. The Company is focused on […]


Skynet Makes Its Move: Ford Wraps Workers In Exoskeleton

The secret to crustaceans and insects belonging to the phylum Arthropoda family are their exoskeleton. Ants, lobsters, hermit crabs, spiders, and beetles are all creatures whose life is made possibly by their exoskeleton body plan. Although humans do not have exoskeletons, but rather endoskeletons, it hasn’t stopped the U.S. Defense Advanced Research Projects Agency (DARPA) in pursing this technology. […]


Why Goldman Just Downgraded GM To Sell

After GM’s stock surged over 35% in the past two months, Goldman finally decided they had seen enough this morning and downgraded the stock to sell with a $32 price target.  So what caused the downgrade?  Well, Goldman figures GM is facing just a few ‘minor’ headwinds over the next couple of years which include […]


Q3 GDP In Question As Inventories Stumble In September

While excuses will fly  – "it was the storms" – which apparently did not interfere with massive beats in housing data, the wholesale and retail inventory data stumbled hard in September. The prints were considerably worse than expected and throw more shade on Q3 GDP growth expectations.   Retail Inventories tumbled 1% MoM in September […]


Sears Ends 100 Year Relationship: Stops Selling Whirlpool Appliances

Ending a business relationship that dates back more than 100 years, Sears announced this morning it would no longer sell Whirlpool appliances. As first reported by the WSJ, in a note sent to its stores last week, Sears said that Whirlpool was making demands that would have made it difficult to sell its appliances at […]


Caterpillar Soars 7% To All Time High After Smashing Earnings, Boosting Guidance

Dow futures are higher by over 100 points following a spate of big beats among Dow components including 3M, GM, UTX, but none more so than Caterpillar which just announced blockbuster Q3 EPS of $1.95, nearly 50% higher than the $1.22 consensus estimate (and above the highest forecast), on revenue of $11.4 billion, which also […]


This Secretive Japanese Company Is Driving The Global Boom In Industrial Automation

As we’ve reported in the past, skyrocketing wages in mainland China have caused the adoption of robot workers by the country’s manufacturers to accelerate rapidly in recent years, cementing the country’s position as a world leader in industrial automation. But while that trend has been widely cited and is widely known, particularly as the US […]


Empire Fed Survey Soars To Highest In 8 Years (As New Orders Plunge)

Beating expectations by 5 standard deviations… Respondents to the Empire Fed's Manufacturing Survey have not been more exuberant about America since Oct 2009. This continues the recent trend of incredible survey-based beats as hard data remains unimpressed…   The only thing that is odd about this monstrous number is the plunge in new orders… and […]


Lousiana Cops Boycott Ford Over Support For Kneeling NFL Players

In a perfectly ironic twist, just days after Jamele Hill urged Americans to protest Jerry Jones decision to make his players stand by 'hitting him in the wallet' and boycotting his sponsors, a Louisiana sheriff's office that is boycotting Ford over the automaker's decision to support NFL players' right to peacefully protest during the national […]


ISM Survey Says Manufacturing In America Is The Greatest In 13 Years

Following modest drops in UK and EU PMIs (and a mixed picture in China), Markit's US Manufacturing PMI inched higher in September amid schizophrenic collapse in output growth (14mo lows) and surge in employment (9mo highs). ISM, on the other hand, reported that US Manufacturing has not been this awesome since June 2004. Prices Paid […]