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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.
Shut off Old Wall TV...
We don’t need qualitative opinions. We need accurate data. Then we observe what Mr. Market thinks about that. Instead of watching Old Wall TV opinions, here's a fact: Durable Goods #accelerated to +2.2% sequentially in September and to +8.3% year-over-year. Following the release, our GDP tracker ticked higher.
From Crude Reality to Black Gold
Reflation is percolating again and will likely accelerate in the next few months. In our quantitative daily risk ranges, Oil flipped from bearish to bullish trend a few months back. Get oil right and you'll get inflation right.
Defying #Rocketman
Despite the threatening saber-rattling of North Korea's Kim Jong Un, the South Korean equity market remains ebullient. The Kospi is up +22.5% year-to-date.
One of the Worst Places to Be in Europe
Long before Catalonia's independence vote, Spanish stocks were falling on slowing growth. From the year-to-date highs in May, the Spanish IBEX is down -7.6%.
Before you go...
Earnings still growing. So far, 183 of 498 S&P 500 companies have reported year-over-year sales and earnings growth of 4.7% and 6.8% respectively...
Chipotle shares (CMG) are on the road to $250. “Chipotle is growing too fast for the problems they have,” says Restaurants analyst Shayne Laidlaw...
Want to better understand the big picture macro market developments? Get a free month of our newly launched weekly newsletter Market Edges.
