Don’s Notebook April 30, 2018

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Core inflation is near the Federal Reserve’s target, at a year-on-year 1.9 percent in March for a 3 tenths gain for this which is the most closely watched of all inflation indicators.

  • The monthly gain for the core relative to February this year is 0.2 percent.

The National Association of Realtors developed the Pending Home Sales Index as a leading indicator of housing activity. Specifically, it is a leading indicator of existing home sales, not new home sales.

  • Pending home sales are expected to rise 1.0 percent in March after posting a very sharp 3.1 percent jump in February.

Overnight: The Asia Pacific (ex-Japan) Index rose more than 1 percent overnight, with South Korea’s Kospi index closing at a three-month high after Friday’s summit between the leaders of both Koreas.

  • Markets in Japan were closed for a holiday.
  • In Europe, the Stoxx 600 Index was 0.1 percent higher at 5:25 a.m. Eastern Time as merger news helped stocks stay green.
  • S&P 500 futures pointed to a higher open
  • The 10-year Treasury yield was at 2.961 percent and
  • Gold was lower.

Earnings Today: First Data, Allergan, Air Canada, Diamond Offshore Drilling, Loews, Transocean and McDonald report today (but, there will be serious attention paid to Apple Inc.’s report tomorrow.)

Looking at the Week:

  • It’s a big week for the U.S. economy, with the Federal Reserve monetary policy decision due on Wednesday, and payrolls data for April due Friday.
  • In the Euro Zone, first-quarter GDP is due Wednesday, with latest inflation figures published on Thursday.
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Dr. Don Pratl is Director of Trader Development and Education for TradeStation. He joined TradeStation in 2016 after holding similar roles with other online brokerages. Don’s long career in the financial services industry reflects expertise in administering trading and investment strategy programs for retail investors as well as financial services professionals. Since the 1980s, he has held various positions in areas including CBOE trading floor order execution, marketing, sales, personnel management, training and customer service. Don holds series 3, 4, 7 and 63 FINRA licenses, earned his Ph.D. in Organization and Management, and his M.A. and B.A. in Political Science. He has been an occasional adjunct college instructor since 2004 at a range of institutions, teaching undergraduate, graduate and doctoral students using in-class and online formats.