Want to better understand the big picture macro market developments? Get a free month of our newly-launched weekly newsletter Market Edges.
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.
https://twitter.com/KeithMcCullough/status/923174340455215105
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.
https://twitter.com/KeithMcCullough/status/923478837744238593
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.
https://twitter.com/KeithMcCullough/status/923475978680193024
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%.
https://twitter.com/KeithMcCullough/status/923477393997795328
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...
https://twitter.com/Hedgeye/status/923543530265612288
Chipotle shares (CMG) are on the road to $250. “Chipotle is growing too fast for the problems they have,” says Restaurants analyst Shayne Laidlaw...
https://twitter.com/Hedgeye/status/923269936335769601
Want to better understand the big picture macro market developments? Get a free month of our newly launched weekly newsletter Market Edges.
