• NEW MEMBER OFFER

    The Macro Show

    Get Live Daily Portfolio Coaching

    $599 $99/Year

Below is the "Chart of the Day" from today's Early Look and a brief excerpt written by Hedgeye Director of Research Daryl Jones.

As we look at the key data this week, not a lot has changed. Specifically:

  1. Labor -  Jobless claims came in +207K, which was the lowest since October. Continuing claims also dropped by -42K to 1.86MM. The fact that layoffs remains low obviously continues to indicated a pro-growth, #Quad2 environment.
  2. Capital Goods Orders – While this was a December data point and they were down slightly from the prior month, but remain well off their low and were up +0.53% M/M. We also have more evidence, as highlighted in the Chart of the Day, that industrial orders are picking up based on recent ISM Manufacturing data.
  3. New Home Sales – This was a bit of a surprising one given that interest rates have been going higher, but new home sales accelerated 674K to 698K into December.

CHART OF THE DAY: Manufacturing --> Headfake or Harbinger? - DJPicture1

CHART OF THE DAY: Manufacturing --> Headfake or Harbinger? - Master the Markets Email Banner