Bank loans, Profits, Heavy truck sales

Decline in Profits Slows By Stephen Grocer Sept 12 (WSJ) — Analysts expect S&P 500 companies to report that revenue grew by 2.6% in the third quarter from the year-earlier period, according to FactSet. That would end a six-quarter period of sales contraction. Importantly, sales estimates for S&P 500 companies improved slightly ...Read More

Atlanta Fed and GDP commentary

As previously discussed, this ‘nowcast’ is working its way lower as more data is released, much like it did last quarter. Still to come are weaker retail sales due to weakening car sales, weaker residential investment due to weakening housing permits, more inventory reductions due to weaker sales, and generally weaker consumption ...Read More

JOLTS, German industrial production, Services Survey, Jobs revisions, Consumer credit

Interesting how it peaked as oil capex collapsed ;) Highlights Information revenue fell 0.1 percent in the second quarter compared to the first quarter. Information revenue in the first quarter is revised 1 tenth higher to plus 1.4 percent. Year-on-year, information revenue rose 3.8 percent in the second quarter vs an unrevised ...Read More

Mtg purchase applications, Fed’s Williams, EU, Fed Labor mkt index, PMI services index

Look at how many more new applications there used to be when rates were double where they are now: Just an fyi, his logic makes no sense to me whatsoever: Fed’s Williams says U.S. economy in good shape, wants rate hike (Reuters) It “makes sense to get back to a pace of ...Read More

Saudi Pricing, Rail traffic, ISM non manufacturing index

Looks like the Saudis want prices to be a bit firmer: http://www.bloomberg.com/news/articles/2016-09-04/saudi-arabia-raises-pricing-for-october-crude-to-asia-on-demand Rail Week Ending 27 August 2016: All Rolling Averages Worsen And Remain In Contraction Sept 2 (Econointerest) — Week 34 of 2016 shows same week total rail traffic (from same week one year ago) contracted according to the Association of ...Read More

Jobs, Factory orders

The deceleration of job growth continues since the collapse in oil capex: Highlights The labor market is solid but maybe isn’t overheating, at least yet. Nonfarm payrolls rose a lower-than-expected 151,000 in August with revisions to July and June at a net minus 1,000. The unemployment rate holds at 4.9 percent with ...Read More

Vehicle sales

Not good. Pronounced slowdown. Negative contribution to growth: Based on a preliminary estimate from WardsAuto (ex-Porsche), light vehicle sales were at a 16.89 million SAAR in August. That is down about 5% from August 2015, and down 5.0% from the 17.77 million annual sales rate last month. Read more at http://www.calculatedriskblog.com/#Zf1iZ5B4Y5kxSm5C.99 Highlights ...Read More

Restaurant performance index, PMI manufacturing, ISM manufacturing, Construction spending

The downtrend looks intact, and on the edge of contraction: Highlights Markit’s U.S. manufacturing sample continues to report month-to-month growth but slow growth. The PMI for August came in at 52.0 which is only modestly above the 50 level that divides monthly growth from monthly contraction. Growth in new orders slowed which ...Read More

Mtg Purchase apps, Chicago PMI, ADP employment forecast, Pending home sales, Tax receipts

Mortgage purchase applications are now down to only 5% higher than a year ago: A lot worse than expected: Highlights Business growth has slowed in Chicago this month based on the city’s PMI which fell more than 4 points but, at 51.5, is still over breakeven 50. New orders slowed while backlogs ...Read More

Personal income and spending, Dallas Fed

In line with expectations as real disposable income growth remains at or below ‘stall speed’, as per the charts. And the total growth of that measure of income since the 2008 peak remains very low. On the consumption side, the mini jump in auto sales provided the (small) boost for the month, ...Read More