Macro: GDPNow — 1.3%
The Nowcast for 4th quarter GDP is up .1% to 1.3% growth with the addition of this week's data. Auto sales and manufacturing orders were the main reports driving this slight uptick. The forecasts were [...]
Macro: ADP Employment
Private companies added 103,000 workers to payrolls in November. This disappointed as consensus was expecting 123,000 additions. Also, the October number was revised down by 7,000 jobs erasing some of the strength off September's 32 [...]
Macro: Jolts
Job openings has come down from an elevated level coming out of the pandemic. It has breached it's long term trend which may portend softness in the labor market. Disclaimer: This information is presented for [...]
Macro: Durable Goods
First and foremost, Durable goods peaked in the short term in June. A repeated theme, we saw some strength in Sep, October is again weak, expect November to be better given a really bad Nov [...]
Is the S&P 500 Still Uninvestable? (VIDEO)
Alhambra CEO Joe Calhoun explains why Alhambra still isn't invested in the S&P 500.
Weekly Market Pulse: Is The S&P 500 Still Uninvestable?
Note: This will be my last commentary this year. I plan to spend December thinking about next year and spending some much-needed time with family. Here's wishing you all a Happy Holiday season. Joe Calhoun [...]
GDPNow — down on the week — as are bond yields
After considering all the data this week, the GDPNow estimate is 1.2% growth. This is down from the initial estimate of 2.3% on Oct 27th and down from 2.1% at the end of last week. [...]
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