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Succinct Summation Of Weeks Events: Positive & Negative: As 10/25/13
Excerpts from Kenny Polcari 10/25 2013 A quick look at the DXY – will reveal that the dollar index is now back to the lows of Jan/Feb. A weaker dollar will also cause equities and commodities to move higher With further FED handholding – my bet is that(mortgage) rates will come back(down) in a bit and provide some support for now…but if chatter of tapering starts anew in the early spring – rates will move higher and crush the spring housing market. They would like us to believe that the trend is positive with 77% beating earnings while only 53% have grown revenues – begging the question – How much longer can these companies manage costs before they are cut to the bone? How many more automated answering machines will we have to listen to? On the contra side – the broader macro data continues to concern us. US Preliminary PMI disappoints – US manufacturing is falling and was weaker than the expectation. (Good for the stimulus program). http://www.kennypolcari.com/2013/10/25/morning-thoughtspress-1-for-try-this-version-of-pasta-faggioli/
Comments
A quick look at the DXY – will reveal that the dollar index is now back to the lows of Jan/Feb. A weaker dollar will also cause equities and commodities to move higher
With further FED handholding – my bet is that(mortgage) rates will come back(down) in a bit and provide some support for now…but if chatter of tapering starts anew in the early spring – rates will move higher and crush the spring housing market.
They would like us to believe that the trend is positive with 77% beating earnings while only 53% have grown revenues – begging the question – How much longer can these companies manage costs before they are cut to the bone? How many more automated answering machines will we have to listen to?
On the contra side – the broader macro data continues to concern us. US Preliminary PMI disappoints – US manufacturing is falling and was weaker than the expectation. (Good for the stimulus program).
http://www.kennypolcari.com/2013/10/25/morning-thoughtspress-1-for-try-this-version-of-pasta-faggioli/