Construction Spending Data

12-2-2013 4-58-24 PMToday, the opening price on the E-mini S&P was (1804.75). Today’s high price was (1809) at 12:55 a.m. US/Eastern time. At 4:00 p.m. US/Eastern time, the low price of the day was (1797). The Construction Spending data represents the dollar value of new construction activity on residential, non-residential, and public projects. The data is available in nominal and real (inflation-adjusted) dollars. For the month of October construction outlays made a comeback. Construction outlays rebounded 0.8 percent after a decline of 0.3 percent in September. Public construction spending is up a monthly 3.9 percent, followed by a 1.9 percent decrease the month before. Private residential outlays went down 0.6 percent in October, following a 1.7 percent boost the month before. New 1-family spending declined 0.6 percent after rising 1.7 percent. Multi-family outlays went up 2.2 percent after jumping 4.3 percent in September. Residential outlays excluding new homes dropped 1.2 percent, following a gain of 3.6 percent the month before. Nonresidential private outlays dropped 0.5 percent in October, following a 1.0 percent decrease in September.

EIA Natural Gas Report

11-21-2013 3-18-05 PMOn the the E-mini S&P, the opening price was (1784.25). The day’s high price at (1795.50) was reached at 3:20 p.m. US/Eastern Time. Today, the low price (1783.50) was hit about 5 minutes after the market opening. Each week, the Energy Information Administration (EIA) gives a report on natural gas stocks in underground storage for the U.S. and three regions of the country. This is important information for investors because prices for natural gas products are determined based on the level of inventories. In this week’s report, there was a drop of 45 billion cubic feet leaving 3,789 bcf of natural gas in inventories in the week of November 15. The expectation this week was a draw of about 35 bcf. This report has little or no impact on the market.

Eric Rosengren on Basill III

11-18-2013 4-41-48 PMThe opening price on the E-mini S&P today was (1798). The day’s high price was (1798.75) at 11:15 a.m. US/Eastern time. At 3:35 p.m. US/Eastern time, the low price of the day was (1784.75). Eric Rosengren, president of the Boston Federal Reserve Bank, came out in support for the narrower definition of capital under the global Basel III framework. In July, the Fed adopted the global Basel III rules in a commitment to draft tougher capital requirements for the largest banks. Basel III will force most banks to hold about three times as much top-quality capital as is required under existing rules, to reduce their risk and protect taxpayers from costly bailouts. The Federal Reserve Board will be required to undergo annual stress tests using three economic and financial market scenarios. Only a summary of the three official Fed scenarios would be made public. The rules would apply not only to banks but, also to all institutions with more than US$50 billion in assets. The Fed will begin implementing the Basel III framework in early 2014 and is expected to be fully implemented by 2019.

International Council of Shopping Centers

11-12-2013 4-56-47 PMToday the E-mini S&P opened at (1766.50). At 10 a.m. US/Eastern time The da’ys high was reached at (1770). The day’s low was reached about five minutes after opening at 9:35 a.m. US/Eastern time of (1764). The International Council of Shopping Centers publishes a weekly report of comparable store sales at major retail chains. This report accounts for about 10 percent of total retail sales. The report this week states there was a 1.2 percent jump in week-to-week same-store sales for a 2.3 percent year-on-year pace which is up 4 tenths in the week. This was most likely the result of colder weather and lower gas prices in the November 9 week.

Chain Store Sales

11-7-2013 5-40-53 PMToday, the opening price on the E-mini S&P was (1770.75). The day’s high price (1771.25) was hit at 9:50 a.m. US/Eastern time. The day’s low was (1742.25) at 3:55 p.m. US/Eastern time. Chain-store sales are mostly positive, but not by much. Compared to September, slightly more chains are reporting higher year-on-year sales rates in October, which appears to have gotten a lift from cold weather that boosted demand for seasonal goods. But the government shutdown was a negative, holding down spending in the first half of the month. The weekly chain-store reports have been mixed with slight monthly strength to weakness. Vehicle sales posted by manufacturers on last week’s calendar is another indication that October retail sales are flat. The October retail sales report was delayed slightly by last month’s government shutdown and will be posted on November 20.