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.

Check Out Our Best Services for Investors

Action Alerts PLUS

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
Quant Ratings

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
Stocks Under $10

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
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

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
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Our Tweets

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs