Index provider MSCI’s decision to include Saudi Arabia in its emerging-markets index will likely transform the Kingdom’s equity market, and potentially those across the Middle East and North Africa (MENA) region, according to Bassel Khatoun and Salah Shamma, Franklin Templeton Emerging Markets Equity.
The Federal Housing Finance Agency (FHFA) has released its U.S. House Price Index (HPI) for April. U.S. house prices were up 0.1 percent on a seasonally adjusted nominal basis from the previous month. Year-over-year the index is up 6.4% (nonseasonally adjusted). Seasonally adjusted, the index is up 4.37% year-over-year.
The latest Manufacturing Index came in at 19.9, down from last month's 34.4. The 3-month moving average came in at, down from 26.6 last month. Since this is a diffusion index, negative readings indicate contraction, positive ones indicate expansion. The Six-Month Outlook came in at 34.8, a decrease from the previous month's 38.7. Today's 19.9 headline number came in below the 28.9 forecast at Investing.com.
This morning's seasonally adjusted 214K new claims, up 18K from the previous week's revised figure, was below the Investing.com forecast of 226K
Russ discusses why economic conditions (for now) support low volatility in the markets.
One of the big pieces of news in the financial world today focuses on General Electric (GE). The iconic American conglomerate has been removed from the Dow Jones Industrial Average, and its stock will no longer be included when the index is calculated. It will be replaced by the drugstore chain Walgreens.
The economic calendar is modest. Volatility is lower even with plenty of news. The summer doldrums have arrived! It provides time for introspection to fill those empty timeslots and pages.
Let's take a long-term view of household net worth from the latest Z.1 release. A quick glance at the complete data series shows a distinct bubble in net worth that peaked in Q4 2007 with a trough in Q1 2009, the same quarter the stock market bottomed. The latest Fed balance sheet shows a total net worth at an all-time high — 83.5% above the 2009 trough. The nominal Q1 net worth is up 1.0% from the previous quarter and up 7.0% year-over-year.
Often, prospects and clients don’t want your advice. Here’s why.
The Q Ratio is a popular method of estimating the fair value of the stock market developed by Nobel Laureate James Tobin. It's a fairly simple concept, but laborious to calculate. The Q Ratio is the total price of the market divided by the replacement cost of all its companies. This update includes the June close data.