Recap for 5.17.11

Economic Data

ICSC-Goldman Store Sales

Released on 5/17/2011 7:45:00 AM For wk5/14, 2011 Prior Actual Store Sales - W/W change 0.0 % -2.0 % Store Sales - Y/Y 2.7 % 3.2 %

Housing Starts

Released on 5/17/2011 8:30:00 AM For Apr, 2011 Prior Prior Revised Consensus Consensus Range Actual Starts - Level - SAAR 0.549 M 0.585 M 0.570 M 0.549 M to 0.583 M 0.523 M Permits - Level - SAAR 0.594 M 0.574 M 0.551 M

http://www.briefing.com/GeneralContent/Investor/Active/ArticlePopup/ArticlePopup.aspx?SiteName=Investor&ArticleId=NS20110517094047HeadlineHits Redbook

Released on 5/17/2011 8:55:00 AM For wk5/14, 2011 Prior Actual Store Sales Y/Y change 4.7 % -2.3 %

Industrial Production                                                             Iindustrial production was unchanged in April after having increased 0.7 percent in March. Output in February is now estimated to have declined 0.3 percent; previously it was reported to have edged up 0.1 percent. In April, manufacturing production fell 0.4 percent after rising for nine consecutive months. Total motor vehicle assemblies dropped from an annual rate of 9.0 million units in March to 7.9 million units in April, mainly because of parts shortages that resulted from the earthquake in Japan. Excluding motor vehicles and parts, factory production rose 0.2 percent in April. The output of mines advanced 0.8 percent, while the output of utilities increased 1.7 percent. At 93.1 percent of its 2007 average, total industrial production was 5.0 percent above its year-earlier level. The rate of capacity utilization for total industry edged down 0.1 percentage point to 76.9 percent, a rate 3.5 percentage points below its average from 1972 to 2010. (Source: http://www.federalreserve.gov/releases/g17/current/)

Released on 5/17/2011 9:15:00 AM For Apr, 2011 Prior Prior Revised Consensus Consensus Range Actual Production - M/M change 0.8 % 0.7 % 0.4 % -0.4 % to 0.8 % 0.0 % Capacity Utilization Rate - Level 77.4 % 77.0 % 77.6 % 77.0 % to 77.9 % 76.9 %

Market Activity

Grains+1.90%

W+3.73% C+3.26% O+2.59% RR+2.02% SM+1.36% S+1.09% RS+0.95% BO+0.23%

http://www.cmegroup.com/education/market-commentary/ag/2011/05/recap-corn_822.html

Financials+0.26%

ZB+0.48% ZN+0.20% ZF+0.10% ED unch ZT unch

http://www.cmegroup.com/education/market-commentary/ir/2011/05/recap-ir-and-treasuries_879.html

Metals+0.19%

HG+1.00% P+0.78% PL+0.40% GC-0.44% SI-0.62%             

http://www.marketwatch.com/story/gold-futures-rebound-in-electronic-trading-2011-05-17?dist=afterbell

Currencies+0.04%

SF+0.35% EC+0.33% AD+0.30% BP+0.27% MP+0.15% CD+0.08% USD-0.21% JY-0.73%

http://www.bloomberg.com/news/2011-05-16/euro-holds-gains-as-european-union-approves-portugal-aid-pressures-greece.html

Softs-0.14%

CT+2.57% SB+1.19% KC+0.76% OJ-0.16% CC-0.90% LB-4.31%

Indices-0.19%

NQ+0.21% RJ+0.18% EW+0.16% ES+0.09% YM+0.08%        

http://view.ed4.net/v/R0W9G/SP0JXI/XH8GTT/HY7058/

Energies-0.47%

ZK+1.97% CL+0.12% RB+0.05% HO-0.33% NG-3.17%

http://www.vancouversun.com/news/Canadian+natural+prices+tumble+cooling+demand+wanes/4799045/story.html

http://www.reuters.com/article/2011/05/17/markets-energy-nymex-idUSN1718132320110517

Market Wrap for 04.19.11

Economic Data

ICSC-Goldman Store Sales

Store Sales - W/W change	Prev 0.1 %	Act 0.3 %
Store Sales - Y/Y	2.9 %	3.0 %

Housing Starts

Starts - Level - SAAR	Prev 0.479 M	Revised 0.512 M	Est 0.525 M	Range 0.500 M to 0.620 M	Act 0.549 M
Permits - Level - SAAR	0.517 M	0.534 M			0.594 M

March starts rebounded 7.2% following an 18.5% in February. Starts were above expectations but are still at historically depressed levels. For the month, single-family home starts were up 7.7%, while multi-family starts were up 5.8%.

Starts in the Midwest were up 32.3%, the west up 27.6% and the Northeast up 5.4%. Starts in the South fell 3.3%. Permits gained 11.2% for the month but are13.3% below last year.

Housing report from “Market Watch.com” http://www.marketwatch.com/story/us-home-construction-quickens-in-march-2011-04-19

Redbook

Store Sales Y/Y change

4.7 %

5.1 %

Market Activity

Metals+0.58%

SI+2.51% HG+0.96% GC+0.23% PL-0.53% PA-0.55%

http://www.cmegroup.com/education/market-commentary/metals/2011/04/recap-silver_463.html

Energies+0.38%

NG+3.26% CL+0.48%            ZK-0.34% RB-0.59% HO -0.99%

Indices+0.29%  CRB +0.60% VIX -4.95%

NQ +0.59% ES +0.50%           YM +0.45% EW+0.09% RJ-0.18%

http://news.yahoo.com/s/ap/20110419/ap_on_bi_ge/us_earns_goldman_sachs;_ylt=ApwxXfvREx7.Yq995HIaA_T957EF;_ylu=X3oDMTJzM3IxcGJoBGFzc2V0A2FwLzIwMTEwNDE5L3VzX2Vhcm5zX2dvbGRtYW5fc2FjaHMEcG9zAzgEc2VjA3luX3BhZ2luYXRlX3N1bW1hcnlfbGlzdARzbGsDZ29sZG1hbnJlcG9y

Grains+0.26%

O +1.68% W +1.39% RR+0.29% BO +0.24% S-0.17% C-0.37%       SM-0.40% RS-0.61%

http://www.cmegroup.com/education/market-commentary/ag/2011/04/recap-wheat_465.html

Currencies+0.23%

CD+0.83% EC+0.70% MP+0.50% BP+0.39% JY+0.13% AD+0.03% SF-0.37% USD-0.61%

http://www.bloomberg.com/news/2011-04-19/canadian-inflation-accelerates-to-highest-rate-in-two-years-on-jump-in-oil.html

Financials+0.09%

US +0.23% TU+0.01%            TY unch ED -0.01% FY -0.03%

Softs-0.14%

KC+2.37% OJ+0.86% LB-0.20% CC-0.32% SB-0.53% CT-3.37%

03.16.11 Review

Economic Data

#1) MBA Purchase Application

Purchase Index - W/W Change	Prev 12.5 %	Act       -4.0 %
Refinance Index - W/W Change	17.2 %	0.9 %
Composite Index - W/W Change	15.5 %	-0.7 %

Homes sales were not able to keep up last week’s pace, although refinancing activity increased due to lower interest rates. The average 30 yr rate fell to 4.79% a 2 month low.

Housing Starts

Starts - Level - SAAR	Prev 0.596 M	Rev 0.618 M	Est 0.560 M	Range 0.540 M to 0.590 M	Act 0.479 M
Permits - Level - SAAR	0.562 M				0.517 M

Starts in both multi-family and single-family home.

The decline was seen in all regions

PPI

PPI - M/M change	Prev 0.8 %	Rev 0.7 %	Range 0.3 % to 1.1 %	Act 1.6 %
PPI -Yr/Yr change				5.8 %
PPI less food & energy - M/M change	0.5 %	0.2 %	0.1 % to 0.4 %	0.2 %
PPI less food & energy - Yr/Yr change				1.9 %

Both food and energy costs continue rack up healthy gains.

ABC News Report on Food Prices

Current Account

Current Account

Prev $-127.2 B

Rev $-125.5 B

Act $-113.3 B

The deficit relative to GDP for the 4^Q10 fell to 3.1% from 3.4% in 3^Q10.

Weekly Petroleum report View Summary Here

Oil and petroleum inventories remain above their average for this time of year. Gasoline and distillate inventories declined more than expected. Product demand remains above year-ago levels:

Gasoline +1.4% Distillates +3.8% Jet Fuel +4.5%

Market Activity

Financials +0.63%

T-Bond +1.13%  10-Yr +0.86% 5-Yr +0.52% 2-Yr -.13% E$ -0.02%

Bloomberg.com of Interest Rates

Energies +0.54%

RB +1.73%         HO+1.69% CL+1.20% NG +0.15% Ethanol -2.05%

CMEGroup Energy report

Metals +0.21%

HG +1.27% SI +0.45% GC +0.31%   PL -0.50%          PA -0.97%

Currencies -0.20%

JY +1.37% SF +1.02% U.S. $ +0.33% BP -0.43% EC -0.66% A$ -0.79% C$ -0.94% MP -1.27%

Reuters on the Yen

Grains -0.42%

Beans +1.34% SM +1.09% BO +0.15% W-0.86% RR-0.89% O -2.78% C -3.07%

Bloomberg.com on Corn

Softs -0.60%

SB +0.78% LB +0.53% KC +0.44% OJ -0.99% CC -1.17% CT -3.05%

Indices -0.85%

VIX +6.2% Midcap -0.80% Russell -0.85% ES -1.71% NQ -1.82% DOW -1.91%

Chart Source: Barchart.com

Chart Source: Barchart.com

Economic Snapshot for 11.17.10

MBA Purchase Applications

Released on 11/17/2010 7:00:00 AM For wk11/12, 2010
                                                Prior        Actual
Composite Index - W/W Change   5.8 %    -14.4 %
Purchase Index - W/W Change     5.5 %      -5.0 %
Refinance Index - W/W Change    6.0 %    -16.5 %
By ECONODAY
An uptick in interest rates caused the slowdown in mortgage activity.


Consumer Price Index

Released on 11/17/2010 8:30:00 AM For Oct, 2010
                            Prior       Consensus       Range         Actual
CPI - M/M change 0.1 %        0.4 %      0.1 % to 0.4 %  0.2 %
CPI less f & e        0.0 %       0.1 %      0.0 % to 0.2 %  0.0 %
Higher energy prices were behind 0.2% gain, which was below expectations.
By ECONODAY

Housing Starts

Released on 11/17/2010 8:30:00 AM For Oct, 2010
                                   Prior           Consensus            Consensus Range           Actual
Starts - Level -   SAAR 0.610 M          0.590 M           0.570 M to 0.625 M       0.519 M
Permits - Level - SAAR 0.539 M                                                                   0.550 M
By ECONODAY





By ECONODAY