FXR News and Press, First Trust Industrials AlphaDEX From 01/29/24

2024-01-29 19:40:00 ET Summary Today's data slate was light with the only release of note being the Dallas Fed's monthly manufacturing survey. The results were disappointing to say the least, as the headline number came in at -27.4, more than twice as low as expectations of -11.8....

2024-01-25 23:45:00 ET Summary The early PMI data for January signalled a marked cooling of inflation pressures in the US economy, in turn linked to a waning of elevated price growth in the services economy. The latest price data from the PMI point to inflation falling below the F...

2024-01-22 15:40:00 ET Summary The General Business Conditions index fell to -43.7, a depth only exceeded by the -78.2 reading in April of 2020 with the economy shut down for COVID. New orders (-49.4 vs -11.3) and shipments (-31.3 vs -6.4) also posted sharp declines and unfilled o...

2024-01-20 21:06:00 ET Summary Our belief is that there will primarily be one call to get correct - one call to rule them all - and that is whether the US economy has a hard landing (recession) or a soft one. Every hard landing starts out as a soft landing, marked by the Fed's int...

2024-01-18 07:13:00 ET Summary The core PCE in the past six months is running at a slower 1.9% annual pace, so the Fed’s 2% inflation target is within sight. Deflation is unquestionably enveloping the Chinese economy, and this deflation is being exported around the world, i...

2024-01-17 14:45:00 ET Summary The sharp drop in the New York Federal Reserve’s Empire State business conditions index in January triggered a wave of warnings. The NY Fed Manufacturing Index, as it’s popularly known, is prized as an early read each month on the manuf...

2024-01-17 11:12:00 ET Summary The jobs market is tight, inflation is above target, consumer spending is holding up and recent Fed commentary suggests they are in no hurry to loosen policy. As such, we continue to favour May as the start point for interest rate cuts rather than Ma...

2024-01-16 21:20:00 ET Summary January US Empire Manufacturing reading this morning was -43.7, much worse than the -5 estimated and much weaker than during the 2008 financial crisis/great recession. The analyst consensus is for S&P earnings per share growth of more than 10 per...

2024-01-16 17:16:00 ET Summary The NY Fed's Empire State Manufacturing Survey came in catastrophically worse than forecasted, with the headline reading at its lowest level since the spring of 2020. New Orders and Shipments which were the key drivers of weakness this month. New...

2024-01-08 22:35:00 ET Summary Many months ago it became abundantly clear that the Fed had extinguished the inflation fires that were stoked in 2020-21, and therefore lower interest rates were called for. More recently, we see that the economy has lost a lot of its forward momentu...