Market Commentary

ADP Private Payroll

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Every month ADP reports on added new jobs by private employers. This number always comes out a few days before the office non-farm payroll report. It provides a hint as to what the official report will look like without the public job’s numbers. This morning the number was 897,000 new jobs. That was far and […]

Market Commentary

Economic Stats

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Economic Stats

This morning a flurry of numbers were released from the various governmental offices concerning the economy and its direction for November. First, the PPI (Producer Price Index) showed stronger inflation than expected and more than in October. It was up .8% from up .6% the month before. Import prices were higher as well. Retail sales […]

Market Commentary

Job Market

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private-sector jobs

Last month’s jobs report was weaker than expected though we still produced a significant number of new jobs. This week the number of Job openings for October rose from 10.6 million, which is a pretty large number historically speaking, to 11.0 million. If you couple that with the quit rate, which is the number of […]

Market Commentary

Retail Sales and Production Bounces Back

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Retail Sales

September was weak for retail sales even though this week’s revision had a .8% improvement. For October there was a strong bounce-back +1.7%, when you exclude autos, a big-ticket item, it was still +1.7%. Industrial production jumped 1.6% from shrinking 1.3% in September. Capacity utilization also rose to 76.4% from 75.2%. Part of the reason […]

Podcast Episodes

Jobs

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private-sector jobs

ADP reported earlier in the week that 517,000 new private-sector jobs were created in October. This morning the official report came in counting private and public jobs. That number was 531,000. These are very strong numbers pushing the unemployment rate to 4.6% from 4.8%. At the same time, hourly earnings rose .4% which is a […]

Market Commentary

What Happened to Zillow

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What Happened to Zillow

Zillow is well known as the website for estimating home values. They have virtually no competition in that space. Then they decided that it would be a good idea to start buying property and get into the buying and selling of real property. They lost $330 million in the most recent third quarter and decided […]

Market Commentary

Chinese Stocks – China Telecom Corp

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China Telecom Corp

The FCC, in a vote of 4 to 0, banned China Telecom Corp. This is a large firm in China but does not have much reach in the U.S. However, the FCC already banned Huawei and four other firms from China. This new ban is despite the Biden administration attempting to smooth over tension between […]

Market Commentary

Home Construction

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House Sales

Not surprising, new home construction fell in September. The peak in housing was late summer. Permits for new construction fell by 7.7% from August, back to last year’s level. There was a substantial collapse in multifamily construction, whereas single-family homes shrank 1%. Finally, some of the slow down was a result of disruptions in the […]

Market Commentary

Shipping Bottleneck

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Shipping

We all know that there is a huge problem in the worldwide supply chain, but what is exactly the problem. It is not a simple problem in which we can just get back to normal because normal was already showing strain in the U.S. Over the years, the U.S. has outsourced billions of dollars of […]