Economic Reports II 11/16/06
Nov Philadelphia Fed 5.1 vs prior -0.7 Full Report
Inside the number: 1st rise in 3 months, despite the headline increase, the results were disappointing as manufacturing is slowing under the weight of the housing & automotive sector declines.
Shipments rose to 6.5 from 5.3, unfilled orders rose to negative 3.9 from negative 11.1, showing that the back orders got filled and shipped.
However, new orders fell to negative 3.7 from 13.4, prices paid fell to 26.7 from 32, prices received fell to 5.7 from 17.8, and the employee index dropped to 0.2 from 9.4.
Indicating a slowing, a drop in input prices and that few companies have been successful in raising prices.
We continue to beg the question: what will happen if lowering prices is unsucessful in stimulating demand during this economic pullback?
NAHB/WF Housing Index UP to 33 from 31 Full Report
Inside the number: 2nd straight rise after an 8 month decline to a 15 year low. The Northeast improved to 37 from 35, while the index rose to 40 from 38 in the South.
Confidence fell to a cyclical low of 34 in the West and matched a cycle low of 16 in the Midwest. Lets see what those Housing Starts and Building Permit numbers have to say.
Odds & Ends: Bonds rallied on CPI data, and fell on the Philly Fed data... Crude futures fell 2% on a build in Natural Gas inventories...
BEA Systems missed, the stock dropped 15%... Those three little words, "your under investigation"....
Computer maker Dell is delaying its earnings report to later this month, after the Securities and Exchange Commission stepped up its investigation into the company's accounting practices, the stock dropped 3%.
Sears, cut jobs and closed offices after merging with Kmart. Today Sears met expectations but said same store sales dropped 3%, due to increased competition, the stock dropped 5%.
Chip maker Applied Materials missed and warned its sales and earnings will miss forecasts for the current quarter. Applied said there would be a slowdown in chip equipment orders over the next quarter, the stock dropped 4.5%.
Starbucks, The Gap & HP report after the bell.
Inside the number: 1st rise in 3 months, despite the headline increase, the results were disappointing as manufacturing is slowing under the weight of the housing & automotive sector declines.
Shipments rose to 6.5 from 5.3, unfilled orders rose to negative 3.9 from negative 11.1, showing that the back orders got filled and shipped.
However, new orders fell to negative 3.7 from 13.4, prices paid fell to 26.7 from 32, prices received fell to 5.7 from 17.8, and the employee index dropped to 0.2 from 9.4.
Indicating a slowing, a drop in input prices and that few companies have been successful in raising prices.
We continue to beg the question: what will happen if lowering prices is unsucessful in stimulating demand during this economic pullback?
NAHB/WF Housing Index UP to 33 from 31 Full Report
Inside the number: 2nd straight rise after an 8 month decline to a 15 year low. The Northeast improved to 37 from 35, while the index rose to 40 from 38 in the South.
Confidence fell to a cyclical low of 34 in the West and matched a cycle low of 16 in the Midwest. Lets see what those Housing Starts and Building Permit numbers have to say.
Odds & Ends: Bonds rallied on CPI data, and fell on the Philly Fed data... Crude futures fell 2% on a build in Natural Gas inventories...
BEA Systems missed, the stock dropped 15%... Those three little words, "your under investigation"....
Computer maker Dell is delaying its earnings report to later this month, after the Securities and Exchange Commission stepped up its investigation into the company's accounting practices, the stock dropped 3%.
Sears, cut jobs and closed offices after merging with Kmart. Today Sears met expectations but said same store sales dropped 3%, due to increased competition, the stock dropped 5%.
Chip maker Applied Materials missed and warned its sales and earnings will miss forecasts for the current quarter. Applied said there would be a slowdown in chip equipment orders over the next quarter, the stock dropped 4.5%.
Starbucks, The Gap & HP report after the bell.
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