It's The Economy Stupid: Dow up 339, S&P up 3.43%

TGIF y’all!

 

Description	Ticker	Last	CHANGE	% Chg Today	Pct Chg 1Yr
STOCK MARKETS
Dow Jones Industrial Average	INDU Index	12208.55	339.5100	2.8605	9.7271
S&P 500 Index	SPX Index	1284.59	42.5900	3.4292	8.6380
NASDAQ Composite Index	CCMP Index	2738.63	87.9600	3.3184	9.4025
Russell 3000 Index	RAY Index	760.56	26.4400	3.6016	8.6996
Russell 2000 Index (Small)	RTY Index	765.43	38.2800	5.2644	8.6903
S&P 400 Mid Cap Index	MID Index	912.99	37.6800	4.3048	10.3285
S&P 600 Small Cap Index	SML Index	421.14	20.4800	5.1116	12.7399
TREASURIES	% Yield
2 Year Treasury	0.2769	100.171875	-0.0313	-0.0312
5 Year Treasury	1.1161	101.7734375	-0.4766	-0.4661
10 Year Treasury	2.3129	106.921875	-1.5234	-1.4048
30 Year Treasury	3.4101	117.875	-4.5000	-3.6772
ENERGY
Crude Oil, Brent Index	Brent	112	3.0900	2.8372	28.8393
Crude Oil, Louisiana Light Sweet	LA Light Sweet	114.92	4.3700	3.9530	35.2200
Natural Gas, Henry Hub Index	Nat Gas	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A
PRECIOUS METALS
Spot Gold $/oz	GOLD	1742.95	18.1300	1.0511	31.5087
Spot Silver $/oz	SILVER	35.0925	1.7050	5.1067	48.7731
CURRENCIES
Euro	EUR Curncy	1.4189	0.0283	2.0351	3.0503
Japanese Yen	JPY Curncy	75.96	-0.2100	-0.2757	7.6224
British Pound	GBP Curncy	1.6098	0.0123	0.7700	2.1119
Swiss Franc	CHF Curncy	0.86	-0.0210	-2.3837	15.1628
Canadian Dollar	CAD Curncy	0.9922	-0.0120	-1.1950	3.6078
Chinese Yuan	CNY Curncy	6.3605	0.0056	0.0881	5.0468
OTHERS OF INTEREST:
Copper	Copper Per LBS	321.9	16.4500	0.0539	-14.7400

 

 

Boudin Chaud. Cous Cous Froide. Allons Tigres--Poussez Poussez Poussez

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us

Street Address:

445 North Blvd, 7^th Floor

Baton Rouge, LA 70802

Mailing Address:

P.O. Box 44154 Capitol Station

Baton Rouge, LA 70804-4154

Physical Location:

One City Plaza, 7th Floor

Corner of North Blvd & 4th Street

Exit 1B I-110 Convention Street, Turn Left to get to North Blvd

 

It's The Economy Stupid: GDP & Jobless Numbers

 

 

 

Economic Event	Period	Actual Reported	Economic Survey	Original Prior	Revised Prior
GDP QoQ Annualized	3Q	2.5%	2.5%	1.3%
Personal Consumption	3Q	2.4%	1.9%	0.7%
GDP Price Index	3Q	2.5%	2.4%	2.5%
Initial Jobless Claims	Oct 22	402K	401K	403K	404K
Continuing Jobless Claims	Oct 15	3645K	3700K	3719K	3741K

 

GDP

 

The U.S. economy grew in the third quarter at the fastest pace in a year as gains in consumer spending and business investment helped support a recovery on the

brink of faltering.

 

Gross domestic product, the value of all goods and services produced, rose at a 2.5 percent annual rate, matching the median forecast of economists surveyed by Bloomberg News and up from a 1.3 percent gain in the prior quarter, Commerce Department figures showed today in Washington. Household purchases, the

biggest part of the economy, increased at a more-than-projected 2.4 percent pace.

 

Americans last quarter cut savings to boost purchases as incomes dropped by the most in two years, calling into question the sustainability of the acceleration in sales. With the lack of jobs holding back wages, the Obama administration and Federal Reserve policy makers have proposed additional measures aimed at stimulating growth and hiring.

 

JOBLESS CLAIMS

 

Fewer Americans filed applications for unemployment assistance last week, while those on benefit rolls dropped to a three-year low, signaling limited improvement

in the labor market.

 

First-time jobless claims decreased by 2,000 to 402,000 in the week ended Oct. 22, Labor Department figures showed today in Washington. The median forecast of economists in a Bloomberg News survey called for a drop to 401,000. The number of people collecting unemployment benefits fell in the prior week by 96,000 to 3.65 million, the fewest since September 2008.

 

A little more troubling is that fact that today’s data showed the four-week moving average, a less volatile measure than the weekly figures, rose to 405,500 last

week from 403,750.

 

And of course, the revisions to previously released jobless claim numbers were all revised upward, which also is not a good trend.

 

JB

 

Boudin Chaud. Cous Cous Froide. Allons Tigres--Poussez Poussez Poussez

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us

 

It's The Economy Stupid: Durable Goods

U.S. stock-index futures extended gains after orders for durable goods topped economists forecasts last month, tempering concern that the economy was weakening.       

Futures on the Standard & Poor’s 500 Index expiring in December rose 0.8 percent to 1,234 at 8:32 a.m. in New York.  

 

Orders for U.S. durable goods excluding transportation equipment rose in September by the most in six months, showing manufacturing is supporting the expansion. Demand for goods meant to last at least three years, outside of airplanes and automobiles, climbed 1.7 percent, exceeding the median forecast of economists surveyed by Bloomberg News that called for a 0.4 percent increase.

 

 

Economic Event	Period	Actual Reported	Economic Survey	Original Prior	Revised Prior
MBA Mortgage Application	21-Oct	4.9%		-14.9%
Durable Goods Orders	SEP	-0.1%	-1.0%	-0.1%
Durables Ex Transportation	SEP	1.7%	0.4%	-0.1%	-0.4%
Cap Goods Orders Non Defense Ex Air	SEP	2.4%	0.5%	1.1%	0.5%
Cap Goods Shipped Non Defenxe Ex Air	SEP	-0.9%		2.8%	3.1%
New Home Sales	SEP		300K	295K
New Home Sales MoM	SEP		1.7%	2.8%

 

 

 

Boudin Chaud. Cous Cous Froide. Allons Tigres--Poussez Poussez Poussez

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us

Street Address:

445 North Blvd, 7^th Floor

Baton Rouge, LA 70802

Mailing Address:

P.O. Box 44154 Capitol Station

Baton Rouge, LA 70804-4154

Physical Location:

One City Plaza, 7th Floor

Corner of North Blvd & 4th Street

Exit 1B I-110 Convention Street, Turn Left to get to North Blvd

 

It's The Economy Stupid: Europa

Multiple choice question:  The market is down today because of:

 

a)     Greece

b)    European Bailout Terms

c)     Lack of European Bailout

d)    Too many Europeans to Bailout

e)     All of the above

 

DING! DING! DING!  We have a winner!

 

Description	Ticker	Last	CHANGE	% Chg Today	Pct Chg 1Yr
STOCK MARKETS
Dow Jones Industrial Average	INDU Index	11706.62	-207.0000	-1.7375	4.8864
S&P 500 Index	SPX Index	1229.06	-25.1300	-2.0037	3.6858
NASDAQ Composite Index	CCMP Index	2638.42	-61.0200	-2.2605	5.9245
Russell 3000 Index	RAY Index	725.87	-15.7000	-2.1171	3.5058
Russell 2000 Index (Small)	RTY Index	713.66	-22.3700	-3.0393	0.8391
S&P 400 Mid Cap Index	MID Index	864.7	-21.5200	-2.4283	4.2513
S&P 600 Small Cap Index	SML Index	394.82	-11.0800	-2.7297	5.2535
TREASURIES	% Yield
2 Year Treasury	0.2306	100.2539063	0.0586	0.0585
5 Year Treasury	0.9385	102.59375	0.4688	0.4590
10 Year Treasury	2.0511	109.2421875	1.0859	1.0041
30 Year Treasury	3.1068	124.28125	3.0000	2.4736
ENERGY
Crude Oil, Brent Index	Brent	110.97	-0.4800	-0.4307	27.4512
Crude Oil, Louisiana Light Sweet	LA Light Sweet	115.1	-1.3200	-1.1338	35.7800
Natural Gas, Henry Hub Index	Nat Gas	3.658	0.0540	1.4983	-18.0188
PRECIOUS METALS
Spot Gold $/oz	GOLD	1701.07	47.5900	2.8782	27.0068
Spot Silver $/oz	SILVER	33.3125	1.5500	4.8800	40.8034
CURRENCIES
Euro	EUR Curncy	1.3906	-0.0023	-0.1651	-0.4511
Japanese Yen	JPY Curncy	75.96	-0.1400	-0.1840	6.3849
British Pound	GBP Curncy	1.6	0.0002	0.0125	1.7236
Swiss Franc	CHF Curncy	0.8787	-0.0021	-0.2384	10.5030
Canadian Dollar	CAD Curncy	1.0159	0.0121	1.2054	0.3937
Chinese Yuan	CNY Curncy	6.3645	-0.0147	-0.2304	4.6162
OTHERS OF INTEREST:
Copper	Copper Per LBS	321.9	16.4500	0.0539	-14.7400

 

 

 

Boudin Chaud. Cous Cous Froide. Allons Tigres--Poussez Poussez Poussez

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us

Street Address:

445 North Blvd, 7^th Floor

Baton Rouge, LA 70802

Mailing Address:

P.O. Box 44154 Capitol Station

Baton Rouge, LA 70804-4154

Physical Location:

One City Plaza, 7th Floor

Corner of North Blvd & 4th Street

Exit 1B I-110 Convention Street, Turn Left to get to North Blvd