Economic calendar: M2 3.8B, Chain-Store Sales 5.5%
Week of September 1 - September 5
Actual
Date Time Release Period Forecast Market Previous
*9/02 10:00 NAPM PMI Aug 56.8% N/A 58.6%
*9/02 14:55 LJR Redbook 08/30 1.0% N/A 0.8%
*9/03 09:00 Mitsubishi Index 08/30 -0.2% N/A 0.2%
*9/03 10:00 Leading Indicators Jul 0.3% 0.2% UNCH
*9/03 10:00 Construction Spnd Jul 0.5% N/A -1.1%
*9/04 08:30 Initial Claims 08/30 326K N/A 323K
*9/04 10:00 Factory Orders Jul 0.2% N/A 1.4% R
*9/04 Car Sales Aug 7.2M 7.0M 7.1M
*9/04 Truck Sales Aug 6.3M 6.3M 6.3M
*9/04 16:30 M2 08/25 3.8B N/A $15.0B
*9/04 Chain-Store Sales Aug 5.5% N/A 5.7%
9/05 08:30 Nonfarm Payrolls Aug 110K 65K 316K
9/05 08:30 Unemployment Rate Aug 4.8% 4.9% 4.8%
9/05 08:30 Avg Hourly Earnings Aug 0.4% N/A UNCH
Review M2:
M2 growth slowed a bit in July, but already there is ample evidence of
a strong rebound in August. In the first three weeks of August, M2 has
posted solid gains for $7.8 bln, $6.3 bln, and $15.0 bln. Even without
any further gain in the final 13 days of the month, M2 would post a
monthly increase of nearly 7%. With the most recent weekly increase,
M2 has moved back above the upper end of the Fed's 1-5% target range
with a growth over Q4 base figure of 5.3%. In short, M2 continues to
point to strong growth ahead.
Will not be able to update tomorrow's #'s until about 9:30 Eastern
Time, an hour after their release.
note: time reporting is Eastern time.
Analysis and #'s captured from briefing.com.
* Actual #'s
+ Cumulative #'s
Will try to post #'s as soon as they are released.
bri
PS
IKe-thanks again for the note yesterday, and for your great analysis.
Swamped at work and home, so unable to promptly respond. Couple of
weeks ago you suggested VVUS at 24 and change. Today it's UP to 29.5-
Great call!! Bart, what do they make again?? :-> !! |
