Mike Bjork's (mbjork) Blog

http://MikesDailyMarketReport.com:  Industrial Production only increased by 0.2% in May, below forecast of 0.4%.  Also, Leading Indicators contracted by 0.4% in May, which sets off 2 months in a row with contraction.  Stocks are Up today, as Investors are buying on the dip; and money is flowing o...

http://MikesDailyMarketReport.com:  Housing Starts dropped by 14.4% in May, while Building Permits dropped by 7.0%.  The Philly Fed Index, which measures manufacturing in the Philadelphia area, dropped to -3.3, which is contraction.  This is the second manufacturing index to report contraction th...

http://MikesDailyMarketReport.com:  There are a few items on the Economic Calendar today, but nothing is having any more impact than the FOMC Announcement.  But, we'll start with Retail Sales, which dropped by 0.3% in May.  Empire State Index, which gauges manufacturing activity in the NY region,...

http://MikesDailyMarketReport.com:  The Producer Price Index (PPI), which measures inflation with the wholesale sector, rose 0.8% in May.  The Core PPI, which excludes food & energy, rose by 0.5% in May, as it's YoY dropped from 8.6% in April to 8.3% in May.  This index doesn't always get a lot o...

http://MikesDailyMarketReport.com:  There are no economic data to report today, but the rest of the week does contain a lot of important data.  The most important day this week will be Wednesday, as the FOMC concludes and the Fed provides their announcement.  The Market Sentiment really soured af...

http://MikesDailyMarketReport.com:  Inflation data came in with a nuclear explosion!  The Consumer Price Index (CPI) rose 1.0% in May, as it's YoY rose from 8.3% in April to 8.6%.  The Core CPI, which excludes food & energy, rose 0.6% in May, as it's YoY dropped from 6.2% to 6.0%.  Meanwhile, Con...

http://MikesDailyMarketReport.com:  Initial Jobless Claims rise to 229k this week, as it hits a 5 month high.  Markets reacted quickly to the hawkish ECB's announcement, which announced they will hike rates in July; end their asset purchases (reinvest matured bonds); and revised their inflation d...

http://MikesDailyMarketReport.com:  Wholesale Inventories rose 2.2% in April.  Both Markets are Down today, as Investors await inflation data on Friday.  They want to verify their beliefs that inflation has already peaked.  Meanwhile, oil continues to climb, reaching $121/barrel.  MBS is also com...

http://MikesDailyMarketReport.com:  As mentioned in yesterday's report, this week is light with Economic data, as today is one of the days without anything with merit.  So, the impact will come mostly from headline news and geopolitical this week.  Today, stocks are down on renewed concerns over ...

http://MikesDailyMarketReport.com:  There are no economic data to report today; and the week ahead is pretty light.  However, Friday, the CPI will be released and this could have a big impact with the Markets.  The Markets are continuing to assess the Fed's Policy with the current and future econ...