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AAR: August Rail Carloads Up 3.8% YoY, Intermodal Up 5.1% YoY

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AAR: August Rail Carloads Up 3.8% YoY, Intermodal Up 5.1% YoY

From the Association of American Railroads (AAR) Rail Time Indicators. Graphs and excerpts reprinted with permission. August 2018 was yet another good month for rail traffic. U.S. railroads originated 1.39 million carloads in August 2018, up 3.8% (50,335 carloads) over August 2017. …U.S. railroads also originated 1.44 million intermodal containers and trailers in August...
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Annual Vehicle Sales: On Pace to decline in 2018

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Annual Vehicle Sales: On Pace to decline in 2018

The BEA released their estimate of August vehicle sales. The BEA estimated sales of 16.596 million SAAR in August 2018 (Seasonally Adjusted Annual Rate), down 0.6% from the July sales rate, and up 0.9% from August 2017 (August was the weakest sales month last year due to the impact of the hurricanes). Through August,...
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Oil Rigs: Increase Slightly

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Oil Rigs: Increase Slightly

A few comments from Steven Kopits of Princeton Energy Advisors LLC on August 31, 2018:”That’s all, folks!” • This week marks a psychological turning point in the oil cycle • Total oil rigs rose, +2 to 862 • But horizontal oil rigs declined, -1 to 765…• Horizontal oil rigs have gone exactly nowhere in...
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Schedule for Week of September 2, 2018

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Schedule for Week of September 2, 2018

The key report this week is the August employment report on Friday. Other key indicators include the August ISM manufacturing and non-manufacturing indexes, August auto sales, and the July trade deficit. —– Monday, Sept 3rd —–All US markets will be closed in observance of the Labor Day holiday. —– Tuesday, Sept 4th —–8:00 AM:...
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Personal Income increased 0.3% in July, Spending increased 0.4%

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Personal Income increased 0.3% in July, Spending increased 0.4%

The BEA released the Personal Income and Outlays report for July: Personal income increased .8 billion (0.3 percent) in July according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased .5 billion (0.3 percent) and personal consumption expenditures (PCE) increased .3 billion (0.4 percent). Real DPI increased 0.2...
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Chemical Activity Barometer “Softens” in August

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Chemical Activity Barometer “Softens” in August

Note: This appears to be a leading indicator for industrial production. From the American Chemistry Council: Chemical Activity Barometer Softens as Pace of Growth Slows The Chemical Activity Barometer (CAB), a leading economic indicator created by the American Chemistry Council (ACC), was flat in August remaining at 122.14 on a three-month moving average (3MMA)...
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Wednesday: Existing Home Sales, FOMC Minutes, BLS Benchmark Revision

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Wednesday: Existing Home Sales, FOMC Minutes, BLS Benchmark Revision

Wednesday:• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • During the day, The AIA’s Architecture Billings Index for July (a leading indicator for commercial real estate). • At 10:00 AM, Existing Home Sales for July from the National Association of Realtors (NAR)....
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Sunday Night Futures

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Sunday Night Futures

Weekend:• Schedule for Week of Aug 19, 2018 Monday:• No major economic releases scheduled. From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 are up 3 and DOW futures are up 33 (fair value). Oil prices were down over the last week with WTI futures at .86 per barrel and Brent at .75 per...
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Oil Rigs: “A breather after last week’s big gains”

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Oil Rigs: “A breather after last week’s big gains”

A few comments from Steven Kopits of Princeton Energy Advisors LLC on August 17, 2018: • Oil rigs took a breather, consolidating last week’s gains • Total rigs were flat at 869 • Horizontal oil rigs declined, -2 to 768…• Horizontal oil rig counts stand at the level of ten weeks ago in both...
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Thursday: Housing Starts, Unemployment Claims, Philly Fed Mfg

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Thursday: Housing Starts, Unemployment Claims, Philly Fed Mfg

Thursday:• At 8:30 AM ET, Housing Starts for July. The consensus is for 1.271 million SAAR, up from 1.173 million SAAR. • Also at 8:30 AM, The initial weekly unemployment claims report will be released.  The consensus is for 215 thousand initial claims, up from 213 thousand the previous week. • Also at 8:30...
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