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Week 09 -2012 | From Feb 27 to Mar 02, 2012 |
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Economic Data for Week 09-2012 | Global View | Week Rating
| DATE |
DAY |
REPORT/CATEGORY |
HIGHLIGHTS: WEEK 09-2012 |
LAST |
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Mon |
Pending Home Sales Index |
Pending home sales climbed 2% in January to the highest level since April 2010, when buyers were taking advantage of a now-expired tax credit. |
97
Level |
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Real Estate |
The pending-home-sales index rose to 97.0 from a downwardly revised 95.1 reading in December. Even without the revision, the index would have shown growth: December's index was 96.6. |
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Tue |
ICSC Goldman Index |
The ICSC Index slipped 1% in the week ended Saturday from the week before on a seasonally adjusted, comparable-store basis, after rising strongly the previous week. |
-1.4% W/W |
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Sales and Inventories |
A blast of warm temperatures rolled in again and gasoline prices continued to climb, which collectively helped to soften sales this past week. |
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Tue |
Durable Goods Orders |
Orders for long-lasting U.S. goods fell a bigger-than-expected 4.0% in January, as demand for a broad array of products declined. |
-4.0% M/M |
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Manufacturing |
The increase in durable-goods orders in December, meanwhile, was revised up to 3.2% from 3.0%. Orders for U.S. durable goods sink 4.0% in January. |
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Tue |
Johnson Redbook |
President's Day sales offered opportunities to clear remaining winter inventories as retailers said sales in the final week of February held up better with warmer weather |
2.5% Y/Y |
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Sales and Inventories |
The Johnson Redbook Index also showed seasonally adjusted sales for the period were up 2.9% from last year, compared with a 2.8% targeted gain. |
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Tue |
S&P Case-Shiller Index |
U.S. home prices fell 1.1% NSA and 0.5% SA in December to bring the year-over-year fall to 4%, according to the Case-Shiller home price index released Tuesday. |
-0.5% M/M |
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Real Estate |
The 20-city composite is at its lowest level since the housing crisis began in mid-2006. Prices in hard-hit Detroit declined 3.8% in December, and only Phoenix and Miami saw price gains. |
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Tue |
Consumer Confidence |
A gauge of U.S. consumer confidence rose to 70.8 in February, reaching the highest level in a year, with more optimism on jobs. |
70.8
Level |
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Consumer |
Consumers are considerably less pessimistic about current business and labor market conditions. The January reading for confidence was revised to 61.5 from a prior estimate of 61.1. |
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Wed |
MBA purchase Applications |
Applications for home mortgage purchases jumped last week as interest rates dipped, though demand for refinancing waned. |
-0.3% W/W |
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Real Estate |
Purchase application volume increased over the week, but remains within the narrow and anemic range of activity we have seen since the expiration of the homebuyer tax credit in May 2010. |
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Wed |
Gross Domestic Product (GDP) |
That's a major improvement from a 1.8% growth rate in the prior quarter, and the fastest growth since the second quarter of 2010. |
3.0%
Annual |
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Growth |
Gross domestic product, the broadest measure of the nation's economy, grew at a 3% annual rate in the fourth quarter of 2011. |
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Wed |
Chicago PMI |
The Chicago business barometer, which also is known as the Chicago PMI, accelerated to a reading of 64.0% in February from 60.2% in January. |
64.0
Level |
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Manufacturing |
The index measuring production was the highest since April, new orders hit an 11-month high, order backlogs moved out of contraction and employment had the biggest one-month gain since March 2008. |
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Wed |
EIA Crude Oil Report |
A slowing in refinery inputs contributed to a large 4.2 million barrel build in oil inventories to 344.9 million barrels in the February 24 week. |
4.2M
Barrels |
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Commodity |
Facing weakening demand tied to rising fuel prices, refineries slowed production in the week, operating at 83.6% of capacity for a nearly two percentage point weekly dip. |
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Wed |
Beige Book 2 |
The Federal Reserve reported Wednesday that the U.S. economy is continuing to grow, but slowly. Nationally, the report said, Economic activity continued to increase at a modest to moderate pace. |
N/A |
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Interest Rates |
The Federal Reserve said the U.S. economy expanded modestly in January through mid-February as hiring picked up a bit across several districts. |
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Thu |
Motor Vehicle Sales |
Auto sales hit highest mark since early 2008; compact cars drive gains. Last year, the industry sold about 13 million cars and light trucks. |
15.10M |
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Sales and Inventories |
The seasonally adjusted rate for sales passed 15 million vehicles in February, a 1 million-vehicle increase from a surprisingly good January. |
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Thu |
Jobless/Initial Claims |
The number of Americans filing first-time claims for jobless benefits fell to a level matching a four-year low, more evidence the labor market is healing. |
351,000 claims |
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Employment |
Applications for unemployment insurance decreased 2,000 in the week ended Feb. 25 to 351,000, Labor Department figures showed today. |
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Thu |
Personal Income |
Personal income growth slowed but remained healthy in January while spending improved a little. Personal income in January increased 0.3% after a 0.5% boost the month before. |
0.3% M/M |
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Consumer |
Personal income increased 0.3% from the prior month while spending rose 0.2%, the Commerce Department said Thursday. In December, spending was flat, but incomes rose 0.5%. |
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Thu |
Real PCE |
Consumer spending rose less than expected in January even as incomes improved, an indication that Americans may still be unsure about the slowly recovering economy. |
0.2% M/M |
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Consumer |
Consumers faced higher prices to start the year. The price index for personal consumption expenditures increased 2.4% on a year-over-year basis in January |
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Thu |
Core PCE |
The core PCE index, which excludes volatile food and energy prices, moved up 1.9% on a year-over-year basis in January. The measure rose a monthly 0.2% in January. |
0.2% M/M |
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Inflation |
Core prices were up a monthly 0.1% in December. Economists had expected core prices to climb 0.2% in January. |
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Thu |
ISM Manufacturing Index |
The PMI registered 52.4%, a decrease of 1.7 percentage points from January�s reading of 54.1%, indicating expansion in the manufacturing sector for the 31st consecutive month. |
52.4 Level |
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Manufacturing |
The New Orders Index registered 54.9%, a decrease of 2.7 percentage points from January�s reading of 57.6%, reflecting the 34th consecutive month of growth in new orders. |
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Thu |
Construction Spending |
A sharp drop in commercial building projects caused a slight decline in construction spending in January. But the dip comes after previous figures were revised much�higher. |
-0.1% |
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Growth |
Construction spending edged down 0.1% in January, the Commerce Department reported Thursday. That is the first drop since July. |
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Thu |
EIA Natural Gas Report |
The EIA said natural-gas inventories fell just 82 bcf last week to 2,513 bcf, as mild temperatures across the country continue to keep a lid on demand for natural gas used to heat homes and offices. |
-82 bcf |
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Commodity |
Natural-gas prices fell 5.9% after a government report showed a smaller-than-expected drop in inventories last week, underscoring weak demand for the fuel. |
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Thu |
U.S. Fed Balance Sheet |
For the February 29 week, the Fed's balance sheet fell $7.1 billion after declining $5.1 billion the week before. The decline was led by a $12.3 billion decrease in mortgage-backed securities. |
$-7.1B W/W |
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Government |
Total assets for the February 29 week decreased to $2.928 trillion. Holdings of Treasuries were partially offsetting, gaining $4.9 billion. |
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Thu |
M2 Money Supply |
Apparently, Operation Twist is not entirely smooth every week as mortgage-backed securities fell faster than gains in Treasury holdings. |
$-10.5B W/W |
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Money Supply |
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Fri |
Fixed Mortgage Rates |
Interest rates on fixed rate mortgages fell this week with the 30-year fixed rate averaging 3.90 % with an average of 0.8 points, down from an average of 3.95 % last week. A year ago, averaged 4.87 %. |
3.90%
APR
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Interest Rates |
The 15-year fixed rate mortgage averaged 3.17% with an average of 0.8 points, down from last week�s average of 3.19%. At this time last year, the 15-year fixed rate mortgage averaged 4.15 %. |
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Fri |
Non Reports for Our Global Vision |
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N/A |
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No Reports |
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Glossary: |
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Current Week |
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Chart View |
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Positive View |
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Negative View |
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Flat View |
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Non Available |
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| WEEK 09-2012 ENDING MAR. 02 |
Reports Commentary
The S&P/Case-Shiller 20-city composite fell 1.1% in December, to wrap up 2011 with a 4% downturn. The index hasn�t been this low since February 2003 and has dropped 33.8% from its peak.
The U.S. economy grew 3% in the fourth quarter, faster than originally reported, mainly because of increased commercial construction and consumer spending and lower imports, the government reported Wednesday. It was still the fastest increase in a year and a half, according to revised Commerce Department data. |
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| MARKET PROFILE |
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WEEKS 2012 |
WEEK 09 |
% FROM CLOSE |
% FROM OPEN |
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RESISTANCE 1 |
1,361.50 |
1.26% |
1.15% |
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RESISTANCE 2 |
1,353.50 |
0.67% |
0.52% |
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CLOSE FEB 24 |
1,344.50 |
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OPEN FEB 26 |
1,347.00 |
0.19% |
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SUPPORT 1 |
1,336.25 |
0.61% |
-0.86% |
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SUPPORT 2 |
1,320.00 |
-1.82% |
-2.15% |
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