A Pinch & Punch For The First of the Month.. | US GDP a "Backward Looking" Indicator... | SPI Down 17 Points |
Good morning, Trust that you’ve had a nice weekend… “A pinch and a punch for the first of the month”… yes, it is June 1… So we all know what happened in May.. Let’s put it behind us now and have a great month together. So what happened on Friday night? US Stocks fell (Dow Jones -121 points), as Gross Domestic Product (GDP), came in lower than expected (-0.7% for the quarter). Why? Once again, the “bad weather” was to blame and economists are forecasting a much stronger GDP figure for this quarter… Remember one thing.. GDP is a “backward looking indicator”, so putting too much emphasis on the “Real Growth” is not 100% accurate… so what's on today? Australia performance of manufacturing, monthly home prices, monthly inflation gauge, March quarter business indicators, building approvals for April; China official PMI; US ISM manufacturing index, construction spending. The SPI is pointing to a 17 point fall on open…
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Prior to founding PEAK Asset Management, Niv headed up HC Securities, spent three years growing Halifax Investments capital markets division and also worked on the wholesale desk at Macquarie Bank, servicing a wide range of institutional,...
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