Hey friend, We got the usual weekly jobless claims this morning, which showed a jump to the highest level since June. We also got manufacturing and services data. Services came in slightly under expectations, but manufacturing was a surprise – showing the fastest expansion since 2022. Finally, leading economic indicator data showed a slight slowdown – pretty much in line with expectations. Tomorrow, Fed Chair Powell speaks at Jackson….

Hey friend, In a couple hours we get the release of the previous Fed meeting minutes. Plus, we also got another raft of speeches by Fed members on deck. Will these influence rate cut expectations? The Daily Direction Note: Indexes closed largely lower yesterday, but with no change in any index directions – yet. The Daily Nugget If you can’t shift gears, you’ll frequently get stuck in the wrong….

Hey friend, Not much on the economic calendar today – just a bunch of speeches by Fed members. But remember, with so much riding on a rate cut next month, what comes out of their mouths could have a big effect on the market. The Daily Direction Note: Indexes closed flat or slightly higher yesterday and they’ve generally been moving downward today as well. However, still no change in….

Hey friend, The only data we have this morning is the Home Builders’ Confidence Index, which remained generally low – in line with the past few months. This Wednesday we get the minutes of the last Fed meeting, which will influence the odds of a September rate cut. The Daily Direction Note: Most indexes closed lower to end last week, with the exception of the Dow that closed slightly….

Hey friend, We got the latest retail sales data this morning, which showed a solid increase – likely as buyers flocked to shops to get ahead of any tariff spikes. New manufacturing data also showed surprising strength, coming in significantly ahead of expectations. However, import prices also crept up. And the latest consumer sentiment survey also showed an unexpected decrease as inflation expectations ramped up. The Daily Direction Note:….

Hey friend, This morning we got the latest producer price data, which came in much hotter than expected… A 0.9% monthly rise compared to the expected 0.2%. However, the weekly jobless claims numbers showed a surprise dip. All in, the odds of a September rate cut has only fallen marginally. It’s still above 90%. The Daily Direction Note: All indexes closed higher yesterday and opened slightly lower this morning…..