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Lumber futures are highly illiquid, making them a market to watch and not to trade. With the total open interest of only 2,751 contracts on August 7 and fewer than 1000 contracts changing hands on an average day, the market can become highly volatile when it moves. Markets with limited liquidi...
Just like its manufacturing counterpart last week, the July release of the ISM Non-Manufacturing survey came in shy of consensus expectations. While economists were expecting the headline reading to increase slightly from 55.1 to 55.5, the actual reading came in at 53.7. That's a level that is...
By Robert Hughes The Manufacturing Purchasing Managers Index from the Institute for Supply Management registered a 51.2 percent reading in July, down 0.5 points from 51.7 in June. July was the fourth straight monthly decline and the lowest reading since September 2016 (see top chart). July...
By Jill Mislinski Thursday the Institute for Supply Management published its monthly Manufacturing Report for July. The latest headline Purchasing Managers Index ((PMI)) was 51.2 percent, a decrease of 0.5 percent from 51.7 the previous month. Thursday's headline number was below the In...
By David Chung, CFA Transcript David Chung: Q2 earnings season is underway. We're about halfway through, and so far I'd really describe it as a tale of two cities. So on one hand, you have companies with long-cycle businesses, longer visibility, aerospace and defense, or more consumer-...
By Robert Hughes Retail sales and food-services spending increased 0.4 percent in June following a 0.4 percent gain in May. Excluding gasoline station sales, retail sales and food services were up 0.7 percent in June after a gain of 0.5 percent in May. Over the past year, total retail sale...
The price of lumber took off on the upside from a low at $214.40 per 1,000 board feet in September 2015 when many other commodity prices were hitting multiyear lows. After rising above the 1993 record peak at $493.50 in late 2017, the price kept on going on the upside in 2018, reaching a high ...
After threats of tariffs on Mexican imports sent sentiment in the Empire Manufacturing Index plunging in June, things bounced back a bit in July as the headline index moved back above zero and surpassed consensus expectations. While economists were forecasting the headline index to rise up to ...
Factory new orders are down year over year and barely afloat excluding transportation. Inventories are a concern. The monthly report on Manufacturers' Shipments, Inventories and Orders , shows strong signs of a manufacturing sector that has peaked. New Orders New orders for manufactured...
Originally published July 3, 2019 The US manufacturing sector may not be in as bad a shape as its German or Japanese counterparts, though it appears to be catching up on the downside. The Census Bureau reports today that new orders for all types of goods in all industries fell 1.6% year-ov...