Don’s Notebook May 16, 2018

0
363

Two major reports headlined today’s early economic news:

  • The Federal Reserve’s Industrial Production report.
    • Industrial production which rose 0.7 percent in April on top of an upward revised 0.7 percent gain in March. Manufacturing production moved 0.5 percent higher
  • The Census Bureau’s New Housing Report.
    • The housing starts and permits report for April: Starts fell 3.7 percent in the month to 1.287 million annualized rate. Permits fell 1.8 percent to a 1.352 million rate.

In Global Markets:

  • Asia, the indexes closed down at the end of the day’s trading, with the Shanghai Composite having fallen the most, by 0.70%.
  • The European indexes were led by the DAX, up by 0.28%.

In the US, the indexes closed down at end of trading yesterday, with the S&P 500 in the U.S. having taken the greatest fall, by 0.68%.

Earnings calls today: Macy’s, Cisco Systems, Titan Pharmaceuticals, Tencent Holdings and Take-Two Interactive Software.

Canadian Prime Minister Justin Trudeau speaks at New York University’s commencement ceremony.

Advertisement

Previous articleBonds Keep Grinding Lower
Next articleMetals & Solar Shine: Midweek Sector Check
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.