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To help contextualize this morning's market moves around the world, below are insights and analysis from our research and Hedgeye CEO Keith McCullough's Twitter feed.
What a year for U.S. Equities
As the U.S. economy continues to accelerate, the S&P 500 made another all-time closing high yesterday. However, as total market volume decelerated Hedgeye CEO Keith McCullough signaled make some sales to Real-Time Alerts subscribers yesterday.
https://twitter.com/KeithMcCullough/status/915509922657456138
https://twitter.com/KeithMcCullough/status/915510878908424193
https://twitter.com/KeithMcCullough/status/915511624638894080
In Other News, Europe is Slowing
Wall Street consensus has been buying "cheap" European stock market exposure all year. Look out! In the latest sign that our #EuropeSlowing call is spot on, Eurozone Retail Sales slowed to 1.2% year-over-year in August versus 2.6% in July.
There's also evolving policy risk in Spain. "Spanish Stocks still getting smoked by US Stocks, as the Catalan premier says will declare independence in matter of days," writes Hedgeye CEO Keith McCullough today.
https://twitter.com/KeithMcCullough/status/915512571087785984
https://twitter.com/KeithMcCullough/status/915515771744288768
Meanwhile in ASIA...
It's been a wild ride for Australian equities. Australia's ASX has recently been among the world's worst performing stock indices in 2017. In Japan, the simple relationship between the Japanese Yen and Nikkei holds (Yen ↑, Nikkei ↓).
https://twitter.com/KeithMcCullough/status/915514071197405184
https://twitter.com/KeithMcCullough/status/915513259196866560
A Quick Hit on Commodities & Currencies
https://twitter.com/KeithMcCullough/status/915517049199366144
https://twitter.com/KeithMcCullough/status/915517529681997824
https://twitter.com/KeithMcCullough/status/915519050339536896
IN CASE YOU MISSED IT...
Hedgeye Demography analysts Neil Howe released an institutional research note on Hedgeye.com. In it, Howe discusses whether Millennials think it is acceptable to shout down a controversial speaker, German elections, Baby Boomers' influence on the auto industry and the rise of teetotalers and light drinkers. It's an interesting read.
https://twitter.com/KeithMcCullough/status/915519456943706112
Want to better understand the big picture macro market developments? Sign up for more information about our soon to be released weekly newsletter Market Edges.
