Friday, 8 January 2016

Financial Orbit wrap 08/01/16

Five sentences or graphics which sum up the Financial Orbit output over the last 24 hours across the website, twitter account and anything else thought about...

1. In today's Financial Orbit Macro

The critical signal? PBoC Fixes Yuan Reference Rate At 6.5636 (prev 6.5646).  First rise in nine days.  The critical level to watch is clearly 7 as per this great chart via @eurofaultlines:

2. Meanwhile in today's Financial Orbit Stocks I observe about Wal-Mart:

Walmart – doing better both in US share price performance and the Mexican unit sales numbers
On a day when the S&P 500 closes more than 3 standard deviations below its 50-DMA, Walmart closes 3 above its 50-DMA (statistic via Bespoke).

Nice little upturn…I like the stock / out-of-favour as discussed before.

There was also a little snippet out of their big Mexican unit which showed strong sales (although no profit numbers yet). 

 3.There was only one Financial Orbit Immediate publication today and I wrote about Acuity Brands where I continue to see structural growth...but a pretty big valuation too: 

Please contact me if you would like to be added to the distribution list for one of these products. 

4. As for monthly NFPs...

With 292,000 jobs created in December, the American labour market clocked its second-best month of 2015. 

Which is why of course so many people now have multiple jobs...

The wage side was not so good...nothing to do of course with the style of job being created:

Although up from November, the 2.5 per cent annual rise in earnings missed forecasts of 2.7 per cent

5. As for markets well what a week:

For the week, the S&P 500 fell 6 per cent, the Dow Jones Industrial Average shed 6.2 per cent and the Nasdaq Composite tumbled 7.3 per cent.

Or the worst week in the history of the S&P:

Much more to come later in January...

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