Macro Update: Still In the Woods

Just a super quick macro update, catching up from the holiday.

Last week our proprietary index gave back 4.08 points, now sitting at -6.12. With 29% of its inputs scoring positive, 35% negative and 36% neutral.

Like I keep saying, underlying fundamentals are not remotely the drivers of stock prices these days.

Three of our inputs gave up a point:

Consumer Spending:



Personal Income:


And the Chicago Fed Nat’l Activity Index:




While one gained a point:

Durable Goods Orders:



There were two worth charting for you that didn’t see score changes:

Consumer Confidence (already receiving our lowest grade):



And the Citigroup Economic Surprise Index (tracks reported data against economists’ predictions). While still positive, the trend is concerning:



Bottom line: We’re still a ways from being out of the woods (economically-speaking).


Share:
Share on linkedin
Share on facebook
Share on twitter
Share on email
Share on pinterest

Recieve Between the Lines Posts to your Inbox

Sign up for lorem ipsum delores sin.

We care about the protection of your data. Read our Privacy Policy.