As we used to say. Maybe we still do. We do. Of course we do. You can see there the dax in particular up 1. 69 off of not a bad overall year as we look at yearly returns. How is the tenyear note yield doing you ask . There it is. 2. 25. And of course crude and natural gas crude in particular, so important in the movement of the market, down yesterday. Market down. Up today, well see whether the broader equity market follows through. We have the latest s p caseshiller home price report. That was released just a moment ago. The results being shown, you can see them at the bottom of the screen. It looks like a decent october. 5. 2 annual increase based on what they saw in october. 2015. Verses a 4. 9 increase in september of 2015. San francisco, denver and portland continue to have the hottest housing markets in the country, at least at this point. Not a great year for housing stocks. Home builder stocks had a lackluster year when you look at the performance thus far. The open question fo
Gains overseas, and nearly 3 rally in oil prices. All ten s p sectors are in the grin pushing the s p back into positive territory. Talking about is it finally here. The market seems to be just going up and down with the price the longterm trend it looks like its going to raise rates. Thats not you really we saw stocks despite the continued massive drop in oil. Well, i think, mandy, what you got iran, for instance, comes on the market. The opposite it went in the opposite direction when he did that. Same thing with our fed. Oh, this is going to strengthen the dollar too much. Were going on see the euro fall apart and the dollar is going to rocket up. Opposite happened. When iran comes on with additional supply of crude oil next year, doesnt mean that crude oil is going into the lower 20s. I think the read might be just the opposite. Dave. Look, weve seen markets go up during the year despite oil being a one way trip down. Yeah, were finishing up the year. Flat on the s p. You got to lo
Same with joy global down 66 . I can barely bring myself to talk about coal and iron. It was thrilling to hear the hedge funds tighghn, einhorn made a stand on con sol energy, a coal company which had the stock up more than 7 today. Thats more than 76 for the year. The iron work company, casablanca, managed to install its own people at the top. That stock is down 62 for the year. Alcoa, im in favor of breaking into commodity. An engineering company. Thats what i call it. The stock is down nearly 48 . The chinese have too much aluminum. Im arguing with kyle clinele feld who said the world needs more aluminum. Alcoa stocks are saying otherwise. Down only 16 for the year. Grain processor archer daniels. Mosaic down 26 and 28 respectively. Fertilizer, potash down 42 . Intrepid potash really less trepid down 74 . Ouch. All the weakness in the market is concentrated in the industry trals until you look at retail. Do you know macys is down 41 for the year. An astounding decline for them. The
Retail portions of the economy. Lets start with basic industry. Steel, metal. Have you seen u. S. Steel lately . Down 63 for the year. 63. With one of the biggest markets being shut out by low oil prices and with the chinese endlessly dumping steel around the world. Companies underneath him will have a hard time making it. There is an oil and gas Company Ak Steel holding down for the year. Copper prices plummeting in oil and gas doing poorly. Stock based on hope that china comes back online and the fed does nothing. Caterpillar is an amazing stock as well as cummings. The stocks are down. The industrial sector is in trouble. Same with joy global down 66 . I can barely bring myself to talk about coal and iron. It was thrilling to hear the hedge funds tighten, einhorn made a stand on con sol energy, a coal company which had the stock up more than 7 today. Thats more than 76 for the year. The iron work company, casablanca, managed to install its own people at the top. That stock is down 6
Us business has slowed down ha u n maybe dramatically. Nonresidential surveys show a at pause in building. Fifth, we hear major mineral mining like alcoa, six Delta Airlines just talked about developing wide body airplane. Seventh, that powerful engine of job creation the oil and gas industry has gone almost full stop because of an epic glut in all things energy. A finally, eighth, the only yesterday we heard the Worlds Largest retailer, walmart, sing the blues. W about the need to spend a fortune in order to stop the death by a thousand cuts of weaker same store sales. You put all these together and you get something weve seen happen time and time again in opere periods of economic softness. Buyers cut loose from the industrials, and they go for the gusto. They return to their always first love, the stocks of companys that have hypergrowth no matter what the state of the worlds economies. Er and where is there real growth and corporate revenues in profits regardless of the economy . T