Thu 12 Oct 2017


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  • Today at the stock market Opinion
  • The portfolio today Opinion
  • News
  • flag_japan Japan Update
  • flag_china China Update
  • Today at the stock market

    bull/bearU.S. stocks retreated from recent record highs on Thursday as AT&T shares sank after it said it lost subscribers in the last quarter and banks slipped following results from JPMorgan and Citigroup.

    • The S&P 500 fell 4.31 points, or 0.17%, to 2,550.93
    • The Dow Jones Industrial Average fell 31.88 points, or 0.14%, to 22,841.01
    • The Nasdaq Composite fell 12.04 points, or 0.18%, to 6,591.51.
    • Advancing issues outnumbered declining ones on the NYSE by a 1.11-to-1 ratio; on Nasdaq, a 1.38-to-1 ratio favored decliners.
    • About 6.0 billion shares changed hands on U.S. exchanges. That compares with the 6.1 billion daily average for the past 20 trading days, according to Thomson Reuters data.

    JPMorgan Chase & Co and Citigroup Inc said they had set aside more money for credit card lending losses in the third quarter, stoking concerns about consumer credit, even as they reported results that topped analyst estimates.

    JPMorgan shares eased 0.9% and Citigroup fell 3.4%, making them among the biggest drags on the S&P 500, with the S&P financials index ending down 0.7%. Their results kicked off the quarterly reporting period and will be followed by reports on Friday from Bank of America and Wells Fargo.

    With the S&P 500 up about 14% so far in 2017, investors are hoping earnings growth can help justify valuations. Analysts expect S&P 500 earnings grew 4.4% in the third quarter, according to Thomson Reuters data. S&P 500 companies posted double-digit profit gains in both the first and second quarters.

    “People got a little bit spoiled by the very nice advances we saw in the first and second quarter, but keep in mind that earnings started perking up in the third quarter of last year so the year-over-year comparisons might not look as robust,” said John Carey, portfolio manager at Pioneer Investment Management in Boston.

    DirecTV owner AT&T weighed on the S&P 500 the most, tumbling 6.1% after the No. 2 U.S. wireless carrier said it lost 90,000 U.S. video subscribers in the third quarter due to intense competition and the impact of recent hurricanes. Related stocks also fell, including Comcast, down 3.9%.

    Among other media-related stocks, Viacom said Charter Communications subscribers may lose access to its channels as the expiration looms for a distribution deal. Charter fell 2.6%, while Viacom was down 2.5%.

    Tesla shares ended up 0.3%, paring gains late in the session. It said it was conducting a voluntary recall of some 2016 and 2017 Model X vehicles.Reuters

    Market indices

    Market indices
    ^ Market indices today (mouseover for 12 month view) Chart: Google Finance

    Index Ticker Today Change 31 Dec 16 YTD
    S&P 500 SPX (INX) 2,550.93 -0.17% 2,238.83 +13.94%
    DJIA INDU 22,841.01 -0.14% 19,762.60 +15.57%
    NASDAQ IXIC 6,591.51 -0.19% 5,383.12 +22.44%

    Portfolio Indices

    USD and AUD denominated indices over the past 52 weeks (Chart: Bunting)
    ^ USD and AUD denominated indices over the past 52 weeks Chart: Bunting

    Index values

    Index Currency Today Change 31 Dec 16 YTD
    USD-denominated Index USD 2.827 -0.15% 2.105 +34.34%
    Valuation Rate USD/AUD 0.78728 +0.36% 0.72663 +8.34%
    AUD-denominated Index AUD 3.594 -0.51% 2.895 +24.14%

    Portfolio stock prices

    :-) Alphabet Class A shares (GOOGL) closed exactly at yesterday’s record of $1,005.65.
    :-) PayPal closed at a record $68.86, up 1.59% on yesterday’s record of $67.78. PayPal is up almost 75% so far this year.

    Stock Ticker Today Change 31 Dec 16 YTD
    Alphabet A GOOGL $1005.65 0.00% $792.45 +26.90%
    Alphabet C GOOG $987.83 -0.14% $771.82 +27.98%
    Apple AAPL $156.00 -0.35% $115.82 +34.69%
    Amazon AMZN $1000.93 +0.60% $749.87 +33.48%
    Ebay EBAY $38.09 -0.57% $29.69 +28.29%
    Facebook FB $172.55 -0.11% $115.05 +49.97%
    PayPal PYPL $68.86 +1.59% $39.47 +74.46%
    Twitter TWTR $18.45 +4.06% $16.30 +13.19%
    Visa V $108.11 -0.30% $78.02 +38.56%
    VMware VMW $113.16 +1.01% $78.73 +43.73%

    FX: USD/AUD

    USD

    DXY movements
    ^ Bloomberg Dollar Spot Index (DXY) movements today (mouseover for 12 month view) Chart: Bloomberg

    The Bloomberg Dollar Spot Index (DXY), which tracks the USD against six major currencies, was up 0.06% at 93.074. A close in the red would have marked its longest streak of losses in four months.

    “The move in the dollar index this week is primarily a correction to the big move that we had in September,” said Marc Chandler, global head of currency strategy at Brown Brothers Harriman. “It’s largely corrective as the market awaits fresh signals.”

    The index, which logged its first monthly gain in 7 months in Sep 2017, rose to more than a 10-week high last week, after U.S. wage data for Sep 2017 was seen as a sign that inflation might come off a recent period of weakness.

    Traders will now focus on U.S. consumer price data due on Friday. The minutes from the last Federal Reserve meeting showed many policymakers still felt another rate increase this year “was likely to be warranted,” but several said additional tightening depended on upcoming inflation data. The Fed has raised rates twice this year.

    Financial markets are pricing a roughly 88% probability of a rate hike in Dec 2017, according to CME Group’s FedWatch tool.

    On Thursday, the USD found some support after the Labor Department said its producer price index for final demand increased 0.4% last month after rising 0.2% in Aug 2017.Reuters

    AUD

    AUD movements
    ^ AUD movements against the USD today (mouseover for 12 month view) Chart: xe.com

    Oil and Gas Futures

    Futures prices

    Oil prices rebounded from earlier losses, but ended lower on the day, after the Energy Department reported a larger-than-expected decline in U.S. inventories and a falloff in weekly production on Thursday.

    The market was pressured by a bearish outlook by the International Energy Agency, which lowered its forecast for oil demand for 2018.

    Oil has strengthened in recent weeks, but it is unclear whether U.S. crude prices will regain the high of nearly $53 a barrel reached in late September. A surprise build in gasoline inventories fed concern that crude stocks may begin to rise again, sapping some strength from the recent rally.

    Brent crude oil settled down 69 cents, or 1.2%, to $56.25 a barrel while U.S. light crude ended down 70 cents, or 1.4%, to $50.60 a barrel. Both benchmarks have risen more than 20% from their lows in Jun 2017 as world oil markets tightened.

    Crude inventories fell by 2.7 million barrels in the week to 6 Oct 2017, compared with analysts’ expectations for a decrease of 2 million barrels. Distillate stocks fell by 1.5 million barrels, but gasoline inventories surprisingly rose by 2.5 million barrels.

    “With the U.S. already out of the summer driving season, there will be less demand for gasoline over the coming weeks – this could result in weeks of crude builds as oil production in the U.S. remains high,” said Abhishek Kumar, senior energy analyst at Interfax Energy’s Global Gas Analytics in London.

    The IEA said demand for OPEC oil would be 32.5 million barrels per day next year – around 150,000 bpd lower than the group pumped last month.

    Gary Ross, founder of PIRA Energy and head of Global Oil Analytics for S&P Global Platts, said the global crude surplus has now largely been absorbed – and there was risk that OPEC could overshoot on its cuts.

    “We think (Brent) should make a new high before the end of the year,” Ross said, speaking to reporters as the annual PIRA client seminar in New York. He said he expects crude to stay between $50/barrel and $60/barrel through the end of the year.

    U.S. crude inventories are still 13 percent above five-year averages headed into the busy winter season, despite efforts by OPEC to cut production.

    The OPEC-led deal helped lift oil from below $30 a barrel early last year. But traders say supplies remain ample and OPEC is widely expected to extend its cuts beyond the current expiry date of end-March 2018.

    “There is little doubt that leading producers have re-committed to do whatever it takes to underpin the market,” the IEA said.

    High U.S. production is pushing increasing volumes of U.S. crude into world markets, feeding inventories and undermining OPEC’s efforts to tighten the market. U.S. exports fell in the most recent week to 1.27 million bpd, but U.S. exports have still exceeded 1 million barrels a day for three straight weeks, the first time this has happened.

    Traders have expressed concerns that the United States will at some point reach its export capacity, though that has not been hit yet.Reuters

    Prices are as at 15:48 EDT

    • NYMEX West Texas Intermediate (WTI): $50.63/barrel -1.31% Chart
    • ICE (London) Brent North Sea Crude: $56.31/barrel -1.11% Chart
    • NYMEX Natural gas futures: $2.99/MMBTU +3.53% Chart

    flag_usa US: Cord Cutting

    The No. 2 U.S. wireless carrier, which owns satellite television service DirecTV, said in a filing on Wednesday that it lost 90,000 U.S. video subscribers in the quarter due to intense competition in traditional pay TV markets and the impact of the recent hurricanes. Shares were down 3.8% to $36.74 midday on Thursday.

    “It should be clear that DirecTV, like all of its cable peers, is suffering from the ravages of cord-cutting. It is reasonable to expect a weak quarter for the whole pay-TV industry.” said Craig Moffett, analyst at MoffettNathanson, in an email.

    The announcement weighed on other stocks in the sector, with shares of Dish Network Corp, Charter Communications Inc, Comcast Corp and Altice USA Inc trading lower.

    AT&T said it added roughly 300,000 subscribers to DirecTV Now, its cheaper option for customers who want to stream television over the internet. That means the company lost 390,000 subscribers to its satellite and U-verse services, who are considered to be higher-value customers.

    “Linear video erosion is worsening, with better (streaming) growth the silver lining,” wrote Deutsche Bank analyst Matthew Niknam in a research note, adding that the loss was wider than his estimate of 266,000 and far more than last year’s subscriber loss of 3,000.

    AT&T said in its filing that the decline of traditional video subscribers will negatively impact its entertainment group revenue and margins. The company is expected to report earnings on 24 Oct 2017.

    AT&T is not the only pay-TV provider to point to a more competitive environment. Cable company Comcast Corp said in September it expected to lose up to 150,000 video subscribers in the third quarter, citing the same reasons.

    The losses come after more options have entered the market that allow consumers to stream television over the internet at a cheaper price than paying for cable. Deutsche Bank’s Niknam noted accelerating competition from Dish’s Sling service, Sony Corp’s PlayStation Vue and others.Reuters

    flag_australia AU: Housing Finance. Aug 2017

    Press Release Extract [ser_au_houseprices]

    KEY POINTS:

    Value of Dwelling Commitments: Aug 2017 Compared With Jul 2017:

    • The trend estimate for the total value of dwelling finance commitments excluding alterations and additions rose 0.6%. Owner occupied housing commitments rose 0.9% and investment housing commitments rose 0.2%.
    • In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions rose 2.1%.

    Number of Dwelling Commitments: Aug 2017 Compared With Jul 2017:

    • In trend terms, the number of commitments for owner occupied housing finance rose 1.0% in August 2017.
    • In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose to 17.2% in August 2017 from 16.6% in July 2017.

    DWELLINGS FINANCED

    Value of Dwellings Financed

    The total value of dwelling commitments excluding alterations and additions (trend) rose 0.6% in August 2017 compared with July 2017, while the seasonally adjusted series rose 2.1% in August 2017.

    The total value of owner occupied housing commitments (trend) rose (up $180m, 0.9%) in August 2017. Rises were recorded in commitments for the purchase of established dwellings (up $116m, 0.7%), commitments for the construction of dwellings (up $40m, 1.9%) and commitments for the purchase of new dwellings (up $24m, 2.0%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 0.9% in August 2017.

    The total value of investment housing commitments (trend) rose (up $27m, 0.2%) in August 2017 compared with July 2017. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $17m, 0.2%) and commitments for the purchase of dwellings by others for rent or resale (up $11m, 1.0%), while a fall was recorded in commitments for the construction of dwellings for rent or resale (down $1m, -0.1%). The seasonally adjusted series for the total value of investment housing commitments rose 4.3% in August 2017.

    Number of Owner Occupied Dwellings Financed

    The number of owner occupied housing commitments (trend) rose 1.0% in August 2017, following a rise of 1.0% in July 2017. Rises were recorded in commitments for the purchase of established dwellings excluding refinancing (up 367, 1.2%), commitments for the construction of dwellings (up 93, 1.5%) and commitments for the purchase of new dwellings (up 65, 2.1%). The seasonally adjusted series for the total number of owner occupied housing commitments rose 1.0% in August 2017.

    Number of Owner Occupied Dwellings Financed – State

    Between July 2017 and August 2017, the number of owner occupied housing commitments (trend) rose in New South Wales (up 231, 1.3%), Victoria (up 223, 1.4%), Queensland (up 78, 0.7%), Western Australia (up 45, 0.8%), the Australian Capital Territory (up 23, 2.0%) and Tasmania (up 3, 0.3%), while falls were recorded in South Australia (down 10, -0.3%) and the Northern Territory (down 4, -1.4%).

    The seasonally adjusted estimates rose in New South Wales (up 516, 2.9%), Western Australia (up 149, 2.6%), Victoria (up 142, 0.9%), South Australia (up 100, 2.8%) and the Australian Capital Territory (up 82, 7.3%), while falls were recorded in Queensland (down 37, -0.3%), Tasmania (down 8, -0.7%) and the Northern Territory (down 6, -2.0%).

    First Home Buyer Commitments

    In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose to 17.2% in August 2017 from 16.6% in July 2017. Between July 2017 and August 2017, the average loan size for first home buyers fell $400 to $321,400. The average loan size for all owner occupied housing commitments fell $900 to $369,600 for the same period.

    Number of Owner Occupied Dwellings Financed Excluding Refinancing

    The number of owner occupied housing commitments excluding refinancing (trend) rose 1.3% in August 2017, following a rise of 1.6% in July 2017. The seasonally adjusted series was flat in August 2017, after a rise of 4.2% in July 2017.

    PURPOSE OF FINANCE (OWNER OCCUPATION)

    Construction of Dwellings

    The number of finance commitments for the construction of dwellings for owner occupation (trend) rose 1.5% in August 2017, following a rise of 2.0% in July 2017. The seasonally adjusted series fell 2.4% in August 2017, after a rise of 4.0% in July 2017.

    Purchase of new dwellings

    The number of finance commitments for the purchase of new dwellings for owner occupation (trend) rose 2.1% in August 2017, following a rise of 2.3% in July 2017. The seasonally adjusted series rose 1.5% in August 2017, following a rise of 2.2% in July 2017.

    Purchase of established dwellings (including refinancing across lending institutions)

    The number of finance commitments for the purchase of established dwellings for owner occupation (trend) rose 0.9% in August 2017, following a rise of 0.8% in July 2017. The seasonally adjusted series rose 1.5% in August 2017, following a rise of 2.7% in July 2017.

    Refinancing

    The number of refinancing commitments for owner occupied housing (trend) rose 0.3% in August 2017, after a fall of 0.2% in July 2017. The seasonally adjusted series rose 3.5% in August 2017, after a fall of 0.4% in July 2017.

    TYPE OF LENDER (FOR OWNER OCCUPATION)

    Banks

    The number of commitments for owner occupied dwellings financed by banks (trend) rose 1.0% in August 2017, following a rise of 1.0% in July 2017. The seasonally adjusted series rose 0.8% in August 2017, following a rise of 3.1% in July 2017.

    Non Banks

    The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 1.9% in August 2017, following a rise of 1.7% in July 2017. The seasonally adjusted series rose 4.4% in August 2017, after a fall of 0.6% in July 2017. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 2.1% in August 2017, following a rise of 2.9% in July 2017.

    HOUSING LOANS OUTSTANDINGS ($1.6 trillion)

    At the end of August 2017, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,611b, up $6b (0.4%) from the July 2017 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $6b (0.6%) to $1,053b and investment housing loan outstandings financed by ADIs rose $0.4b (0.1%) to $558b.

    Bank housing loan outstandings rose $6b (0.4%) during August 2017 to reach a closing balance of $1,573b. Owner occupied housing loan outstandings of banks rose $6b (0.6%) to $1,024b and investment housing loan outstandings of banks rose $0.4b (0.1%) to $550b.

    Australian Bureau of Statistics, “5609.0 Housing Finance, Australia, August 2017“, 12 Oct 2017 More

    flag_europe EU: Industrial production. Aug 2017

    Press Release Extract [ser_eu_industry]

    In August 2017 compared with July 2017, seasonally adjusted industrial production rose by 1.4% in the euro area (EA19) and by 1.7% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In July 2017, industrial production rose by 0.3% in the euro area, while it fell by 0.3% in the EU28.

    In August 2017 compared with August 2016, industrial production increased by 3.8% in the euro area and by 3.9% in the EU28.

    eu_industrialproduction_20171012

    Monthly comparison by main industrial grouping and by Member State

    The increase of 1.4% in industrial production in the euro area in August 2017, compared with July 2017, is due to production of capital goods rising by 3.1%, durable consumer goods by 1.3%, intermediate goods by 1.2% and energy by 0.2%, while production of non-durable consumer goods remained stable.

    In the EU28, the increase of 1.7% is due to production of capital goods rising by 3.2%, durable consumer goods by 1.2%, intermediate goods by 1.0%, energy by 0.7% and non-durable consumer goods by 0.4%.

    Among Member States for which data are available, the highest increases in industrial production were registered in the Czech Republic (+14.3%), Malta (+5.4%) and Portugal (+4.7%). Decreases were observed in the Netherlands (-2.3%), Sweden (-1.8%), France and Finland (both -0.4%).

    Annual comparison by main industrial grouping and by Member State

    The increase of 3.8% in industrial production in the euro area in August 2017, compared with August 2016, is due to production of intermediate goods rising by 5.3%, capital goods by 4.9%, durable consumer goods by 3.6% and non-durable consumer goods by 2.4%, while production of energy fell by 0.7%.

    In the EU28, the increase of 3.9% is due to production of capital goods rising by 5.5%, intermediate goods by 5.3%, durable consumer goods by 3.6% and non-durable consumer goods by 2.3%, while production of energy fell by 0.4%.

    Among Member States for which data are available, the highest increases in industrial production were registered in Lithuania (+13.1%), Latvia (+12.1%) and Romania (+10.3%). A decrease was observed in the Netherlands (-1.8%).

    Eurostat, “August 2017 compared with July 2017: Industrial production up by 1.4% in euro area, Up by 1.7% in EU28“, 12 Oct 2017 More

    flag_europe EU: ECB Monetary Policy

    Press Release Extract [ser_ecb]

    European Central Bank, “Monetary Policy“, 12 Oct 2017 More

    flag_usa US: Producer Price Index. Sep 2017

    Press Release Extract [ser_us_ppi]

    The Producer Price Index for final demand advanced 0.4 percent in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices moved up 0.2 percent in August and edged down 0.1 percent in July. On an unadjusted basis, the final demand index increased 2.6 percent for the 12 months ended in September, the largest rise since an advance of 2.8 percent for the 12 months ended February 2012.

    Within final demand in September, prices for final demand services rose 0.4 percent, and the index for final demand goods climbed 0.7 percent.

    Prices for final demand less foods, energy, and trade services increased 0.2 percent in September, the same as in August. For the 12 months ended in September, the index for final demand less foods, energy, and trade services advanced 2.1 percent.

    us_ppi1_20171012

    us_ppi2_20171012

    Final Demand

    Final demand services: The index for final demand services increased 0.4 percent in September, the largest rise since moving up 0.5 percent in April. Over 60 percent of the September advance can be traced to a 0.8 percent increase in margins for final demand trade services. (Trade indexes measure changes in margins received by wholesalers and retailers.) The index for final demand transportation and warehousing services jumped 1.0 percent. Prices for final demand services less trade, transportation, and warehousing edged up 0.1 percent.

    Product detail: Nearly 30 percent of the increase in prices for final demand services can be attributed to margins for machinery, equipment, parts, and supplies wholesaling, which rose 1.3 percent. The indexes for apparel, footwear, and accessories retailing; health, beauty, and optical goods retailing; truck transportation of freight; deposit services (partial); and food and alcohol wholesaling also advanced. In contrast, prices for residential real estate loans (partial) fell 2.6 percent. The indexes for automobiles and automobile parts retailing and for apparel wholesaling also declined.

    Final demand goods: Prices for final demand goods rose 0.7 percent in September, the largest increase since moving up 1.0 percent in January. Over 80 percent of the September advance can be traced to the index for final demand energy, which climbed 3.4 percent. (Higher energy prices were likely the result of reduced refining capacity in the Gulf Coast area due to Hurricane Harvey.) Prices for final demand goods less foods and energy moved up 0.3 percent. The index for final demand foods was unchanged.

    Product detail: Two-thirds of the September increase in the final demand goods index can be attributed to prices for gasoline, which jumped 10.9 percent. The indexes for jet fuel, motor vehicles, diesel fuel, fresh and dry vegetables, and chicken eggs also moved higher. Conversely, prices for young chickens fell 4.7 percent. The indexes for electric power and integrated microcircuits also declined.

    Intermediate Demand by Commodity Type

    Within intermediate demand in September, prices for processed goods advanced 0.5 percent, the index for unprocessed goods fell 0.4 percent, and prices for services edged up 0.1 percent.

    Processed goods for intermediate demand: The index for processed goods for intermediate demand climbed 0.5 percent in September, the largest rise since a 0.5-percent increase in April. Most of the September advance can be traced to prices for processed energy goods, which moved up 2.4 percent. The index for processed materials less foods and energy rose 0.2 percent. In contrast, prices for processed foods and feeds decreased 0.6 percent. For the 12 months ended in September, the index for processed goods for intermediate demand advanced 4.3 percent.

    Product detail: A major factor in the September increase in prices for processed goods for intermediate demand was the index for diesel fuel, which rose 4.8 percent. Prices for gasoline, jet fuel, nonferrous mill shapes, processed eggs, and nonferrous wire and cable also moved higher. Conversely, the index for young chickens fell 4.7 percent. Prices for commercial electric power and biological products also declined.

    Unprocessed goods for intermediate demand: The index for unprocessed goods for intermediate demand moved down 0.4 percent in September, the third consecutive decline. The September decrease can be traced primarily to a 1.7-percent drop in prices for unprocessed foodstuffs and feedstuffs. The index for unprocessed energy materials fell 0.8 percent. In contrast, prices for unprocessed nonfood materials less energy advanced 2.0 percent. For the 12 months ended in September, the index for unprocessed goods for intermediate demand increased 7.0 percent.

    Product detail: Leading the September decline in the index for unprocessed goods for intermediate demand, prices for slaughter hogs dropped 18.4 percent. The indexes for natural gas, raw milk, slaughter poultry, corn, and wastepaper also moved lower. Conversely, prices for nonferrous metal ores advanced 6.5 percent. The indexes for oilseeds and crude petroleum also rose.

    Services for intermediate demand: The index for services for intermediate demand edged up 0.1 percent in September following a 0.2-percent advance in August. Leading the September increase, margins for trade services for intermediate demand rose 0.4 percent. Prices for transportation and warehousing services for intermediate demand also moved higher, climbing 0.6 percent. In contrast, the index for services less trade, transportation, and warehousing for intermediate demand inched down 0.1 percent. For the 12 months ended in September, prices for services for intermediate demand advanced 2.7 percent.

    Product detail: A 1.8-percent rise in margins for machinery and equipment parts and supplies wholesaling was a major contributor to the September increase in prices for services for intermediate demand. The indexes for deposit services (partial); food and alcohol wholesaling; securities brokerage, dealing, and investment advice; and courier, messenger, and U.S. postal services also moved higher. Conversely, prices for loan services (partial) fell 2.9 percent. The indexes for metals, minerals, and ores wholesaling; television advertising time sales; and marketing consulting services also decreased.

    Bureau of Labor Statistics, “Producer Price Indexes. Sep 2017“, 12 Oct 2017 (08:30) More

    flag_usa US: Unemployment Insurance Weekly Claims

    Press Release Extract [ser_4]

    insurance

    In the week ending October 7, the advance figure for seasonally adjusted initial claims was 243,000, a decrease of 15,000 from the previous week’s revised level. The previous week’s level was revised down by 2,000 from 260,000 to 258,000. The 4-week moving average was 257,500, a decrease of 9,500 from the previous week’s revised average. The previous week’s average was revised down by 1,250 from 268,250 to 267,000.

    Hurricanes Harvey, Irma, and Maria impacted this week’s claims.

    unemployment

    The advance seasonally adjusted insured unemployment rate was 1.3 percent for the week ending September 30, a decrease of 0.1 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending September 30 was 1,889,000, a decrease of 32,000 from the previous week’s revised level. This is the lowest level for insured unemployment since December 29, 1973 when it was 1,805,000. The previous week’s level was revised down by 17,000 from 1,938,000 to 1,921,000. The 4-week moving average was 1,925,000, a decrease of 11,500 from the previous week’s revised average. The previous week’s average was revised down by 10,500 from 1,947,000 to 1,936,500.

    Employment and Training Administration, “Unemployment Insurance Weekly Claims Report“, 12 Oct 2017 (08:30) More

    flag_japan Japan update

    Currency: USD/JPY

    JPY movements
    ^ JPY movements against the USD over the past month (mouseover for inverse) Chart: xe.com

    Stockmarket: Nikkei 225

    N225 movements
    ^ Nikkei N225 movements over the past week Chart: Google Finance

    flag_china China update

    Currency: USD/CNY

    CNY movements
    ^ CNY movements against the USD over the past month (mouseover for inverse) Chart: xe.com

    Stockmarket: CSI300

    CSI300 movements
    ^ Shanghai CSI300 movements over the past week Chart: Google Finance