UNITED STATES

US core inflation met the feds expectations at 2.0%
Consumer spending is 5% higher this time around compared to last year
- Meanwhile income growth fell shy of expectations by about half
The Dallas Fed reported very strong activity in their regional manufacturing report
- Labor shortages are easing
- Costs of inputs are still rising, but the pace is slowing
- Delivery bottlenecks are easing

OTHER

The S&P 500 closed yesterday hovering just above correction territory
- Close to half of US stocks are in a bear market
- In terms of market value loss - global stocks are having their worst run in a decade
As earnings season wraps up and the buyback blackout period comes to an end, institutional investors and share buybacks may buoy the market yet again
Energy shares shit the bed yesterday
- Meanwhile US oil production continues to climb higher
- If US shale output doesn’t increase, global supply will not be able to meet demands (I posted a deep dive into US Shale last week, browse my history)
Coffee and Sugar futures are falling as the Brazilian real falls following the election of right wing populist as president of Brazil on Sunday
Mexican markets shit the bed after their president-elect held a vote to cancel a $13bn partially built airpot in Mexico City
New building approvals are falling rapidly in Australia (Actual -14.1%| Expected -9.0%)
South Korean business confidence has evaporated

Submitted October 30, 2018 at 07:21AM by ogordained https://ift.tt/2CO5EQU