Update USA Unemployment Rate
American unemployment rate for September came in in line within our forecast at 4.2%, but at the lower end of the most likely range. We are certainly not complaining as employment continues to improve. Total unemployed dropped by 331,000 to 6.8 million. Long-term unemployed remained unchanged at 1.7 million and the labor participation rate remained unchanged at 63.1%. The only negative news in employment was a drop in total non-farm employment by 33,000 but this was most likely the result of hurricanes impacting the food service industries.
USA Stock Consideration Change Report
American Eagle Outfitters returns to BUY consideration while Boise Cascade, Enova International, Michael Kors, Monarch Casino, Myers INdustries and Newpark Resources all join SELL consideration.
USA Stock Consideration Change Report
SPX Flow moves to SELL while Patterson-UTI Energy and EW Scripps join SELL WATCH.
Update Economic USA Housing
There is no doubt, the rate of increase in housing starts has slowed. You can see this in the first chart. Growth that started since 2010 appears to have taken a rest over the last several months and is struggling from lower supply numbers and higher prices. Prices increased by more than 5% from this time last year. Home sales remain above the previous year but have slowed by over 3% this month alone. Supply has increased most recently which potentially could ease pricing pressure.
Update Economic USA Consumer Confidence
Consumer confidence has started to move sideways at a 120 level. The current measurement placed the indicator at 119.8 down slightly from 120.4. After a steady increase for many months’ confidence has plateaued. It would be nearly impossible for confidence to increase into infinity as it becomes increasingly difficult to maintain improvements. The fact current consumer confidence has not deteriorated is reassuring. Future expectations has also flattened at a low 100 level. The current measurement places the indicator at 102.2 a slight increase over a previous 101.7.