Weekly Gasoline Prices: WTIC Up 5.3%
As of November 30, the price of Regular and Premium were up two and one cents each, respectively, from the previous week. According to GasBuddy.com, Hawaii has the highest average price for Regular at $3.19 and Texas has the cheapest at $1.78. The WTIC end of day spot price closed at 45.34, up 5.3% from the last week.
November ISM Manufacturing Index: Continued Growth
This morning the Institute for Supply Management published its monthly Manufacturing Report for November. The latest headline Purchasing Managers Index (PMI) was 57.5, a decrease of 1.8 from 59.3 the previous month. Today's headline number was below the Investing.com forecast of 58.0 percent.
Markit Manufacturing Continues Improvement in November
The November US Manufacturing Purchasing Managers' Index conducted by Markit came in at 56.7, up 1.8 from the 53.4 final October figure. Markit's Manufacturing PMI is a diffusion index: A reading above 50 indicates expansion in the sector; below 50 indicates contraction.
Chicago PMI Eased in November
The latest Chicago Purchasing Manager's Index, or the Chicago Business Barometer, fell to 58.2 in November from 61.1 in October, which is in expansion territory. Values above 50.0 indicate expanding manufacturing activity.
The Investment I’m Most Grateful For
So far this year, shares of HIVE Blockchain Technologies have soared an incredible 715%, well past Ethereum’s gain of 273%. 2020 has been marked by healthy expansion in mining capacity, the most recent example being HIVE’s acquisition of additional access to low-cost green energy.
The Big Four: Real Personal Income in October
Personal Income (excluding Transfer Receipts) in October rose 0.78% and is up 2.2% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, Real Personal Income (excluding Transfer Receipts) MoM was up 0.78%. The real number is up 1.0% year-over-year.
Gold: Testing Patience But Toeing the Line (For Now)
Since early August the “barbarous relic” has corrected some 9% while many other assets have ascended to all-time highs. This has no doubt caused a bit of consternation for holders of gold who have been using the metal not as a hedge, but as a capital appreciation vehicle unto itself.
S&P/Case-Shiller Home Price Index: National Index up 7% YoY NSA
With today's release of the September S&P/Case-Shiller Home Price Index, we learned that seasonally adjusted home prices for the benchmark 20-city index saw a 1.27% increase month over month which is cut to 1.21% with inflation adjustment. The non-seasonally adjusted national index saw a 7% YoY increase.
Virus Surge Threatens Newfound U.S. Corporate Profit Optimism
In a year that saw corporate forecasts canceled faster than travel plans, the third-quarter U.S. earnings season brought a sense of normalcy with better-than-expected profits and rising forecasts. Now a second wave of Covid-19 infections and renewed lockdowns threaten to cloud those views.