WHY have Transports been weak with price of OIL/gas declining? Because there is NO correlation, they rose with price of gas, they passed on rising costs to manufacturers and retailers. Who then passed them on to CONSUMERS.In the last 7 quarters S and P companies bought back nearly $650 BILLION of thier stock, reducing shares outstanding of course, which of course supports earnings they report as profits are divided by less shares. These are record numbers I believe and have supported market rally.
As they do this, like INTC announces AXING of some 10,000 jobs!
We have RECORD UNSOLD HOMES INVENTORY, and PRICES are PLUNGING, but we feel NO ILL EFFECTS?
Bond rally is due a breather, IMHO Gold is rising as the US dollar rises??!! Gold rally due a breather but we are IN seasonally strong period for the metal.
Per BLS data, productivity Y/Y is falling as costs to employers are rising. NOT a good condition,
GOLDILOCKS scenario my ass.
When will the job losses related to air coming out of housing bubble show up on stats? after NOV elections?
Some financials have been weak during this rally, COF JPM to name a few......AUG productivity on tap at 8:30
Duratek
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