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M Notes:  Tue, 9-7 Thumbnail

M Notes: Tue, 9-7



Weekly Close:
9-7-2021
+ (-)%Aug %
Dow
35,369
-87
-0.2%
+1.2
S&P
4,535
+26
+0.6%
+2.9
Nasdaq
15,363
+234
+2.8%
+4.0
10-year
1.32
+0.01
---
+4.8


LAST WEEK:  

Markets:  Markets had a good August but were mixed going into the holiday weekend.

The S&P roller coaster last week:  Up, down, flat, up, and flat.

ISM The Institute for Supply Management puts out two monthly numbers:   manufacturing and services.  Their manufacturing number beat expectations moving from 59.5 up to 59.9.  The services number dropped from 64.1 down to 61.7.  Context:  a number above 50 points to an expansion of the economy.

Jobs:  The August number missed badly.  Expectations were for 740,000 jobs.  The actual number came in at 235,000.

Jobless claims:  The weekly number came in at 340,000.  

Radio:  I gave the latest jobs and unemployment numbers, and gave a few numbers related to Labor Day.  We are normally on most Fridays at 6:38a, 7:38a, and 8:38a on 1100AM.  Here’s the link:  https://parker-wealth.com/bill-and-chris-podcasts/bill-and-chris-fri-9-3. 

Trade deficit:  Last month it came in at -75.7 billion.  It dropped to 70.1 billion.  Exports are up over 24% YOY.  Imports are up over 22% YOY.  Auto sales were down -10.7% in August and are down -14% YOY.  The issue is supply constraints due to a lack of computer chips.  

Unemployment The August unemployment number moved down a touch from 5.4% to 5.2%... as expected.  That’s a post Covid low.  

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 THIS WEEK:

Focus of the week:  Coming off the holiday weekend, the economic focus will come on Friday when we get the update on Wholesale Inflation (the Producer Price Index).

Markets were closed on Monday in observance of the Labor Day holiday.

Earnings season While it’s basically over, here are a couple of the companies reporting this week:  Kroger and Lululemon. 

Indicator focus The Fed’s Beige Book (Wed); jobless claims (Thu), and the PPI (Fri).