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S&P trading as the proxy for the Euro

The S&P has become a proxy for the Euro price or vice versa. If you look at the S&P over the last month and a half it has followed the Euro, but as you can see from December 2009 thru April the two diverged from each other under the “Strong Dollar” thinking. After all the dollar . . . → Read More: S&P trading as the proxy for the Euro

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Read more on S&P 500 (SPX), Euro (EUR) at Wikinvest

Retail Sales down in May

Don’t look now, but retail sales just got hammered.  To everyone who is saying this is just a pullback in the market then they are missing the signs.  Are we due for a bounce yes, but this kind of economic data argues against the “corporate profits” increases everyone has been discussing.

A quick look at the numbers:

Total . . . → Read More: Retail Sales down in May

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Read more on Retail Sales, Corporate Profits, Auto Parts at Wikinvest

Good economic indicators?

Well the next in line of a string of good news lately is that Retail sales were up for August, PPI was up in August, and the Empire State Manufacturing survey was up in August.

Here is a rundown of today’s stats.

Retail sales up 2.7%
PPI up 1.7%
Empire State Manuf. Survey +18.9 up from +12.1

These are numbers up . . . → Read More: Good economic indicators?

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