Friday 30 January 2015

Two months in a row

With just one trading day left of the month, US equities are set for the second consecutive net monthly decline. Even if the sp'500 can rally 1% on Friday (which won't be easy), it would still result in a red January.


sp'monthly


Dow, monthly'2



Summary

*Its been a tiresome day... I'll keep this short.

Suffice to say, a second month of declines, but overall.. it is NOT significant, and the primary upward trend remains intact.
--


Looking ahead

Friday is rather important.

US GDP Q4, market is expecting 3.2% growth. Clearly, any number in the mid/low 2s would be a real disappointment. Personally, I'm expecting something in the 3s,, but as ever... this will only be a first reading... and subject to some possibly major revisions.

Also due, Chicago PMI, employment cost, consumer sent'
-

Goodnight from London