This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Macroeconomic Events; Buy Levels: Best of Kass

NEW YORK ( TheStreet) -- Doug Kass of Seabreeze Partners is known for his accurate stock market calls and keen insights into the economy, which he shares with RealMoney Pro readers in his daily trading diary.

Among the posts this past week were entries about the week's macroeconomic events and buy levels on selected stocks.

Please click here for information about subscribing to RealMoney Pro.

Boockvar's View
Originally published on Friday, June 28 at 3:37 p.m. EDT.

"One last thing."

-- Lt. Columbo

Here is a succinct summary of this week's macroeconomic events from Morgan Stanley's Peter Boockvar:


1) A slew of Federal Reserve members do their best to calm markets after last week's taper hissy fit, trying to make clear that the printing presses are still running hot and will continue to well into 2014 with only the degree of heat being the question. This said, the Fed is not just dealing with unemployment and inflation, it is dealing with asset bubbles and the methodical cornering of the U.S. Treasury market (more subtle than the Hunt Brothers). Also, markets only like full speed ahead (irrespective of economic impotence and damage) and views any slowdown in speed as a form of tightening.

2) Durable goods orders in May rise more than expected led by aircraft but core rate gain is also better than estimated.

3) Richmond, Dallas and Milwaukee manufacturing surveys in June bounce from May.

4) Conference Board consumer confidence rises to 81.4 from 74.3, best level since January '08, with those saying jobs are plentiful rising to the highest since Sept '08. Those that plan to buy a home or car within six months are up a touch.

5) June UoM confidence final reading at 84.1, down slightly from May but up from the preliminary June print of 82.7. Coincident with recent drop in gasoline prices, one-year inflation expectations moderate to 3%, matching lowest since Dec '10.

6) Pending home sales and new home sales in May both total more than expected as 50 bps increase in mortgage rates to 3.90% in May pushes many off their arse. Mortgage rates now are at 4.38% as of Thursday night.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Real Money
Try it NOW

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Back to Nasdaq


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Our Tweets

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs