Doug Short Advisor Perspectives

[unable to retrieve full-text content] The price of Regular and Premium are down two and one cent, respectively, from last week. According to GasBuddy.com, California has the highest average price for Regular at $3.15 and Oklahoma has the cheapest at $1.79. The WTIC end of day spot price closed at 38.56, down 2.2% from last week.

[unable to retrieve full-text content] Fifth District manufacturing activity strengthened in October, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite index rose to 29 in October from 21 in September.

[unable to retrieve full-text content] The headline number of 100.9 was a decrease from the final reading of 101.3 for August. Today's number was above the Investing.com consensus of 102.0.

[unable to retrieve full-text content] The National Association of Home Builders (NAHB) Housing Market Index (HMI) is a gauge of builder opinion on the relative level of current and future single-family home sales. It is a diffusion index, which means that a reading above 50 indicates a favorable outlook on home sales; below 50 indicates a negative outlook. The latest reading of 85 is up 2 from last month's 83 and at its highest level in the indicator's history, exceeding its...

[unable to retrieve full-text content] With today's release of the August S&P/Case-Shiller Home Price Index, we learned that seasonally adjusted home prices for the benchmark 20-city index saw a 0.46% increase month over month which is cut to 0.34% with inflation adjustment.

[unable to retrieve full-text content] The Federal Housing Finance Agency (FHFA) has released its U.S. House Price Index (HPI) for August. U.S. house prices were up 2.6 percent on a seasonally adjusted nominal basis from the previous month. Year-over-year the index is up 7.9% on a non-seasonally adjusted nominal basis. After adjusting for inflation and seasonality, the index is up 1.84% in August and up 7.7% year-over-year (seasonally adjusted).

[unable to retrieve full-text content] The latest new orders number at 1.9% month-over-month (MoM) was better than the Investing.com 0.5% estimate. The series is down 1.9% year-over-year (YoY). If we exclude transportation, "core" durable goods was up 0.8% MoM, which was better than the Investing.com consensus of 0.4%. The core measure is up 1.7% YoY.

[unable to retrieve full-text content] The Chicago Fed's National Activity Index, which we reported on this morning, is based on 85 economic indicators drawn from four broad categories of data: Production and Income Employment, Unemployment, and Hours Personal Consumption and Housing Sales, Orders, and Inventories

[unable to retrieve full-text content] "Travel on all roads and streets changed by -12.3% (-35.3 billion vehicle miles) for August 2020 as compared with August 2019. Travel for the month is estimated to be 251.3 billion vehicle miles." The 12-month moving average was down 1.1% month-over-month and down 8.8% year-over-year. If we factor in population growth, the 12-month MA of the civilian population-adjusted data (age 16-and-over) was down 1.19% month-over-month and down 9.9%...

[unable to retrieve full-text content] This morning the Dallas Fed released its Texas Manufacturing Outlook Survey (TMOS) for October. The latest general business activity index came in at 19.8, up 6.2 from 13.6 in September. All figures are seasonally adjusted.