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Daily Market MoversThe following news stories, economic reports, and statistical tables are selected and compiled by founder John F. Gallwas, who has been an active participant in the financial service industry since January of 1958.
FridayBB: September New Home sales were lower than expected at 467K vs a sharply revised down 466K, showing an uneven recovery that will limit how much residential real estate contributes to growth.
BB: Treasuries rose the most in a week after a doctor in New York City tested positive for Ebola, spurring demand for the haven assets amid concern any outbreak of the virus can weigh on the global economy.
ThursdayBB: Initial Claims for the week ended 10/18 were as expected at 283K vs a revised up 26K the week before, but the 4-week moving average reached a new low at 281K vs 284K, the lowest level since May 2000.
BB: The October euro-region factory PMI was also better than expected at 50.7 vs 50.3 in September, as euro-area economy moved one step away from another recession.
BB: The Chinese October preliminary PMI was better than expected at 50.4 vs 50.4 in September, adding to signs a resilient labor market and export demand are helping the world’s second-largest economy weather a housing market downturn.
WednesdayBB: The September CPI was higher than expected at +0.1% vs -0.2% in August, but still leaving inflation below the Federal Reserve’s goal as fuel prices plunge this month. Excluding volatile food and fuel, the core was up +0.1% after being little-changed in August.
BB: Japanese September exports climbed the most in seven months by +6.9%, supporting a rebound in the economy as Prime Minister Shinzo Abe weighs another sales-tax increase. Imports grew 6.2%t, leaving a trade deficit of 958.3 billion yen ($9 billion).
TuesdayBB: September previously owned U.S. homes rose more than expected by 2.4% to a 5.17M annual rate, adding to signs that residential real estate will be a plus for the economy.
Gallup: One in 20 Americans now cite Ebola (5%) as one of the most important problems facing the country, placing it among the top 10 concerns, but not the highest. The economy (17%) and dissatisfaction with government (16%) still lead.
BB: China's 3rd Q GDP was better than expected at +7.3% from a year earlier, as export demand quickened and services expanded, bolstering the government’s case for avoiding broader stimulus measures.
MondayBB: The European Central Bank bought French covered bonds today as it started its asset purchase program, according to three people familiar with the matter.
Economic Reports for the Week ending Friday - October 24, 2014
Last Week's Scorecard
* Local currencies
We do not guarantee accuracy of any of the data on this page. If you have any comments or suggestions, please contact William Gallwas or call 800-669-8838
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