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US Market Update TRADETHENEWS.COM
STAFF
Weak Earnings Trump Spain, Strong Housing Starts
Economic Data
- (IS) Israel Oct Inflation Forecast: 2.0% v 2.4% prior
- (IS) Israel Sept Money Supply Y/Y: 11.8% v 6.0% prior
- (BR) Brazil Oct FGV Inflation IGP-10 M/M: 0.4% v 0.6%e
- (US) MBA Mortgage Applications w/e Oct 12th: -4.2% v -1.4% prior
- (ZA) South Africa Aug Retail Sales M/M: 2.0% v 0.5%e; Y/Y: 6.4% v 4.5%e
- (PL) Poland Sept Sold Industrial Output M/M: 6.1% v 7.8%e; Y/Y: -5.2% v -3.9%e
- (PL) Poland Sept Producer Prices M/M: 0.5% v 0.3%e; Y/Y: 1.8% v 1.7%e
- (RU) Russia Sept Real Retail Sales M/M: -0.4% v -0.6%e; Y/Y: 4.4% v 4.2%e
- (RU) Russia Sept Unemployment Rate: 5.2% v 5.3%e
- (US) Sept Housing Starts: 872K v 770Ke; Building Permits: 894K v 810Ke
- US indices are barely more than flat this morning as mixed earnings reports outweigh the good housing data and the good news from Europe. Yields on Spanish and Italian debt are down sharply this morning after Moody's refrained from cutting its sovereign rating on Spain, powering solid gains in European equities. The euro moved up on the Moodys announcement but hasn't gained too much again this morning, with EUR/USD above the 1.31 handle. US housing data once again topped expectations, with the September housing starts numbers beating expectations. Analysts were very happy to see some strength in single-family activity (starts up 11% and permits up 6.7%), complementing continuing gains in multi-family homes. However BoA's flat performance and poor showings from Intel and IBM are weighing on indices. ...
- (IS) Israel Oct Inflation Forecast: 2.0% v 2.4% prior
- (IS) Israel Sept Money Supply Y/Y: 11.8% v 6.0% prior
- (BR) Brazil Oct FGV Inflation IGP-10 M/M: 0.4% v 0.6%e
- (US) MBA Mortgage Applications w/e Oct 12th: -4.2% v -1.4% prior
- (ZA) South Africa Aug Retail Sales M/M: 2.0% v 0.5%e; Y/Y: 6.4% v 4.5%e
- (PL) Poland Sept Sold Industrial Output M/M: 6.1% v 7.8%e; Y/Y: -5.2% v -3.9%e
- (PL) Poland Sept Producer Prices M/M: 0.5% v 0.3%e; Y/Y: 1.8% v 1.7%e
- (RU) Russia Sept Real Retail Sales M/M: -0.4% v -0.6%e; Y/Y: 4.4% v 4.2%e
- (RU) Russia Sept Unemployment Rate: 5.2% v 5.3%e
- (US) Sept Housing Starts: 872K v 770Ke; Building Permits: 894K v 810Ke
- US indices are barely more than flat this morning as mixed earnings reports outweigh the good housing data and the good news from Europe. Yields on Spanish and Italian debt are down sharply this morning after Moody's refrained from cutting its sovereign rating on Spain, powering solid gains in European equities. The euro moved up on the Moodys announcement but hasn't gained too much again this morning, with EUR/USD above the 1.31 handle. US housing data once again topped expectations, with the September housing starts numbers beating expectations. Analysts were very happy to see some strength in single-family activity (starts up 11% and permits up 6.7%), complementing continuing gains in multi-family homes. However BoA's flat performance and poor showings from Intel and IBM are weighing on indices. ...