Without any decisive economic data to influence its actions one way or another, the BOE opted to maintain its benchmark rate and the level of its bond-buying program:
Read MoreQuest Diagnostics estimated today that their 3Q EPS will be below analyst expectations. This has sent the stock lower in light of the rally today.
Read MoreA similar chart to one we posted last week that showed the percent of stocks trading above their 5 year average valuation, the one below shows the percent of stocks that are trading within 25% of their highest valuation level over the last 5 years.
Read MoreInitial unemployment claims were hit by a variety of ”one-off” factors including an IT upgrade in California and temporary layoffs in the private sector due to the government shutdown. The 4-week moving average moved from 305k to 325k.
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Today Citrix Systems is down over 11% in early trading after pre-announcing a Q3 shortfall in both revenue and earnings. This will likely lead to the stock breaking down in our relative strength point an figure charts, dropping below a three year old trading range.
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For the last 20 years, valuations on the S&P 500 have correlated pretty well with the 25-54 year old male participation rate in the US. The now 13-year old structural bear market in the US is easy to see. The recent turn down in this participation rate suggest caution on equity valuations.
Read MoreFollowing a disappointing Industrial New Orders report yesterday, Germany’s Industrial Production posted a better than expected gain for the month of August. Will the relationship with PMI Manufacturing hold?
Read MoreOne data point does not make a trend, but we will be watching to see if the recent down tick in Australian consumer confidence is leading the US manufacturing ISM lower.
Read MoreMortgage applications have only slightly bounced after plunging from May to September.
Read MoreIf the Yen/USD keeps strengthening, the odds of Japanese stocks rising appear slim.
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