For the next part of my highly overdue ‘Potential Market Negatives’ series, I wanted to highlight recently elevated amounts of insider selling. Insider buying peaked at March while the market was at or very close to interim lows, however, since then buying has shifted to net selling (see chart). This could of course be due […]
Archive:
September 2009
September’s preliminary consumer sentiment release showed a rise to 70.2, compared to the Bloomberg consensus forecast of 67.5 and a previous reading of 65.7. The less bad is good philosophy seemed to help this month’s preliminary sentiment index, as consumer’s hope declining job losses, what appears to a bottom in the housing market, and improvements […]
August import prices rose 2.0%, the primary driver was a 9.8% increment in fuel import prices during the month. It is important to note that despite this large increase on a y/y basis import prices are still down 15.0%, albeit far less than the 19.2% drop in July. Factoring out fuel, import prices would have […]
*Real Time Notes, Updated Frequently Today I am attending the second day of Dahlman Rose & Co’s Global Transportation Conference, and will be speaking with and listening to presentations from several trucking company executives from companies including: Werner Enterprises, Inc. (NASDAQ: WERN), Con-Way, Inc. (NYSE: CNW), Arkansas Best Corporation (NASDAQ: ABFS), Celadon Group Inc. (NASDAQ: […]
*Real Time Notes Updated Frequently BNSF: Thomas Hund, Executive VP & CFO I am currently attending this conference and will be doing some random live updates throughout the day. I am currently listening to a presentation by BNSF’s Thomas N. Hund, Executive Vice President & Chief Financial Officer. He is presently discussing the important of […]
US consumer credit fell US$21.55bn in July, or 10.4% on an annualized rate. This is the largest monthly decline consumer credit has ever experienced. This was also the index’s 6th consecutive month of declines. The government’s ‘Cash for Clunker’s’ program did little to stem a a record US$15.44bn decline in non-revolving credit, while revolving credit, […]
The Baltic Exchange’s Baltic Dry Index (BDI) rose by 0.6% today, reaching its highest level since 8/24. But, these gains have come on continued weakness in the Capesize sector where rates have fallen for eight consecutive days, losing an additional 2.1% this morning. Rates on smaller vessels, especially panamax, have fared much better over recent […]
With the shortened week comes a rather light economic calendar, with the most significant release likely being the Fed’s Beige Book on Wednesday, followed by consumer sentiment on Friday. This week’s lull will come to an abrupt end next week with the release of the retails sales and Industrial production data, among others. In addition […]
Payrolls in the US fell by -216K in August compared to a revised decline of -276K in July, and a consensus forecast of -200K. The unemployment rate for the month increased to 9.7% versus 9.4% a month prior, and a consensus forecast of 9.5%. The decline in payrolls continue to moderate, but an increase in […]
Recently, concerns have been mounting over whether or not the Fed may need to consider a more hawkish stance over potential inflationary pressure. Increments over the past several days in the price indices for both the Manufacturing ISM and Non-Manufacturing ISM have only exacerbated these worries. To help quantify this situation I dusted off the […]