Real-time thoughts & analysis of the markets, economy & more...
Co-founder & CEO of AllenWargent property advisory & buyer's agents.
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Pete Wargent blogspot
Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.
4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.
"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.
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Tuesday, 17 September 2013
US industrial production up most in 6 months
A combination of factors conspiring to catapult the Dow Jones up by more than 160 points or 1% so far in the trade.
America and Russia appear to have reached an agreement whereby Russia may remove Syria's chemical weapons, while as noted earlier, the withdrawal of Summers his bid to be the Fed Chairman has boosted expectations.
Meanwhile, it was reported that IP in the US is moving up nicely.
By the way, US stocks are up by more than 20% in 2013 - not much of a 'correction' then.
"Industrial production rose in August by the most in six months, indicating U.S.manufacturing will contribute more to the expansion.
Output at factories, mines and utilities climbed 0.4 percent after no change the prior month, a report from the Federal Reserve showed today in Washington. The median forecast in a Bloomberg survey of 85 economists called for a 0.5 percent advance in August. Manufacturing (EMPRGBCI), which makes up 75 percent of total production, advanced by the most this year.
The strongest vehicle sales in almost six years are propelling factory activity, encouraging companies such as Ford Motor Co. to boost plant capacity. A pickup in global markets and stronger consumer demand would help spark further progress in the sector that struggled earlier this year."