The Government data from this morning:
Import Price Data…
APR IMPORT PRICE INDEX M/M: 1.8 % V 1.6%E, Y/Y: 15.4% V 15.0%E
- Prior MoM revised from 2.8% to 2.9%
- Prior YoY revised from 14.8% to 14.9%
Retail Sales Data:
APR ADVANCE RETAIL SALES: -0.2% V -0.2%E; LESS AUTO: 0.5% V 0.2%E
- Prior less autos revised from 0.1% to 0.4%APRIL RETAIL SALES TABLE
Apr Mar Feb
Total Retail Sales 378.148 378.852 378.106
Percent Change -0.2 0.2
Total Except Autos 306.191 304.815 303.690
Percent Change 0.5 0.4
Automobiles 71.957 74.037 74.416
Percent Change -2.8 -0.5
Furniture, Home 9.505 9.494 9.476
Percent Change 0.1 0.2
Electronics/Appliances 9.511 9.377 9.372
Percent Change 1.4 0.1
Building Materials 27.126 26.608 27.020
Percent Change 1.9 -1.5
Food/Beverage 48.748 48.546 48.179
Percent Change 0.5 0.8
Health/Personal Care 20.286 20.208 20.220
Percent Change 0.4 -0.1
Gasoline Stations 41.719 41.902 41.243
Percent Change -0.4 1.6
Clothing/Accessories 19.020 18.892 18.752
Percent Change 0.7 0.7
Sporting/Hobby/Music 7.428 7.395 7.346
Percent Change 0.4 0.7
General Merchandise 49.327 49.103 49.065
Percent Change 0.5 0.1
Misc. Stores 9.679 9.796 9.762
Percent Change -1.2 0.3
Nonstore Retailers 25.877 25.889 25.748
Percent Change 0 0.5
Eating/Drinking 37.929 37.605 37.507
Percent Change 0.9 0.3
Earlier this morning Wall Mart (WMT) released their earnings and they provided cautionary guidance going forward, indicating that everything hinged on the economy. That, in conjunction with their earnings not being as good as the market had hoped, sent the pre market futures down. Once the Government data on retail sales data came out the futures started going up.
The import price data reveals inflation continues to worsen.
On the subject of retail sales again. It is very interesting to us how it is the market thinks a year over year growth of -0.2% is great news. But of course the market is a forward looking mechanism so it takes this data as maybe things will improve later. To us, this only sets up the market for an even larger disappointment soon.
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{ 2 comments }
Chuck, You don’t seem to understand! If you remove gasoline sales we are buying more c**p! If you remove auto sales we are buying even more c**p!! If you remove mortgage payments we are even buying more c**p !!! If you remove the cost of feeding our children we are even buying more c**p!!!! If you remove cities filing for bankruptcy we are even buying more c**p!!!!! If you remove… C’mon Chuck, it’s all in the numbers!!!!! Happy days are here again.
Still holding onto my double short gold (DZZ) position and a large position in MU. Started selling a bit of my ICO position on the run up this morning. Have a small POT short position that is down a bit.
I did add a small position in NTRI yesterday. It looks like there is some accumulation going on this month. I will only keep it for a trade with a tight stop.
The balance of the account is cash.