Friday, October 6, 2017

Economic News , Data & Views.....October 6 , 2017 ..... Quick Hits For Friday-1) Markets : US- Major Stock Indexes End Higher For The Week Once Again , Although Mixed For The Day ; Fed Speakers Today - Key Comments From Bostic , Kaplan & Bullard , Non Farm Payroll & Employment Situation Report For September ; US Data - Consumer Credit , NY Fed GDP Forecast , US Wholesale Inventories ; Additional Items Of Note. 2) Tropical Storm Nate - Updates 9 & 10 , NWS New Orleans Report , Additional Items Of Note. 3) US Political Updates For Friday : Las Vegas Investigation State Of Play ; Puerto Rico - Updates On Restoration Of Services & Related News Items ; Swampland News Items ; Foreign Policy - Iran & North Korea In Focus ; Political Odds & Ends. 4) Europe Highlights : Spain - Catalonia Political Turmoil Continues - Catalonia Still Moving Forward On Declaration Of Independence , Despite Spanish Central Gov't Pressures ; EU Related Concerns ; UK News & UK-EU Talks Related Items.


Markets.....



FOR THE WEEK, THE S&P ROSE 1.2 PCT, THE DOW ADDED 1.6 PCT, THE NASDAQ GAINED 1.45 PCT



DOW JONES UNOFFICIALLY CLOSES DOWN 7.33 POINTS, OR 0.03 PERCENT, AT 22,768.06



NASDAQ UNOFFICIALLY CLOSES UP 3.67 POINTS, OR 0.06 PERCENT, AT 6,589.02



S&P 500 UNOFFICIALLY CLOSES DOWN 3.18 POINTS, OR 0.12 PERCENT, AT 2,548.89


Fed’s Bullard: Becoming More Concerned That Fed Could Make Mistake On Policy



Fed’s Bullard Says He Doesn’t See Inflation Pressures -Rates Are ‘About Where They Need To Be’


Fed’s Bullard Speaking To Reporters; Says NFP Report Was Weaker Than Expected, Is A Cause For Concern


US Consumer Credit (USD) Sep: 13.06B (est 16.00B; prev R 17.72B)



WTI Futures Settle At $49.29/Bbl, Down $1.50


Fed’s Kaplan: Have The Benefit Of Having A Little Time To Decide On Rate Hike Before Dec Meeting - RTRS


Fed’s Kaplan: Expects To Continue Seeing Slack Taken Out Of Labour Market - RTRS


Fed’s Kaplan: Job Losses From Hurricanes Seen As Temporary - RTRS


Fed’s Kaplan: Wants More Evidence Of Press On Inflation - RTRS



Underlying strength in increases odds of Dec rate hike, despite that 33K drop in payrolls (hurricanes) -



NY Fed GDP Nowcast Q3: 1.5% (prev 1.5%) -GDP Nowcast Q4: 2.5% (prev 2.0%)



Fed’s Bostic: Expects US Central Bank's Policy Of Slow Steady Return Of Rates To Normal Levels To Continue In 2018


Fed’s Bostic: Still Expecting One More Interest Rate Hike By The End Of The Year, But Not Wedded To It



[CNBC] Fed’s Kaplan: Sees Some Structural Headwinds -Companies Have ‘Much Less’ Pricing Power



[CNBC] Fed’s Kaplan: Sees Some Structural Headwinds -Companies Have ‘Much Less’ Pricing Power




US Wholesale Inventories (M/M) Aug F: 0.90% (est 1.00%; prev 1.00%) -Wholesale Trade Sales (M/M) Aug: 1.70% (est 0.00%; prev -0.10%)




round-up: employment miraculously recovered a bit





round-up: private sector y/y change: and & trends don't look too hot





BLS PRESS RELEASE: US Employment Situation Summary



US Average Weekly Hours All Employees Sep: 34.4 (est 34.4; prev 34.4) -Labor Force Participation Rate Sep: 63.10% (prev 62.90%)



US Average Hourly Earnings (M/M) Sep: 0.50% (est 0.30%; prev R 0.20%) - (Y/Y) Sep: 2.90% (est 2.50%; prev R 2.70%)



US Change in Private Payrolls Sep: -40K (est 72K; prev R 164K) -Change in Manufact. Payrolls Sep: -1K (est 8K; prev R 41K)



US Change in Nonfarm Payrolls Sep: -33K (est 80K; prev 156K) -Two-Month Payroll Net Revision Sep: -38K (prev -41K)



Tropical Storm Nate...



MAXIMUM SUSTAINED WINDS...70 MPH...110 KM/H PRESENT MOVEMENT...NNW OR 340 DEGREES AT 22 MPH...35 KM/H MINIMUM CENTRAL PRESSURE...990 MB.




It's been five years since a Hurricane Warning has been affected for this portion of the Gulf coast. That was due to Isaac in 2012.







1 hour ago
Here are the key messages for Tropical Storm as of 4:00pm CDT. A Hurricane Warning has been issued for metropolitan New Orleans.





Hurricane & Storm Surge Warnings posted. Updates:







Hurricane warning for NOLA.





T.S. Nate will bring heavy rainfall to parts of the southeast and Appalachians over the weekend. Flash flooding possible across the region.





Landrieu: Instituting mandatory curfew at 6 p.m. Saturday, ending Sunday morning.




Here are the key messages for Tropical Storm for Advisory 9.






latest -- ABOUT 71.1 PCT OF CURRENT PRODUCTION IN U.S. GULF OF MEXICO HAS BEEN SHUT IN DUE TO TROPICAL -BSEE




GFS 12z (American model) now back to Hurricane strength w/TS Nate into SE Louisiana & Mississippi --> hurricane warnings




US Politics...



Las Vegas....



GOP senators call on Trump ATF to re-examine legality of bump stocks




Law enforcement seemed pretty frustrated today. They say they still don't know why the shooter carried out a massacre.






Phone charger not matching shooters phones-an anomaly. Mandalay Bay video in garage and 32 floor for 2nd puzzle.




Still clear as mud....




Still do not have a clear motive behind Las Vegas attack, undersheriff says.



Replying to 
Undersheriff: Very confident there was not another shooter in the room, but still unclear if anyone else knew about attack ahead of time.



Replying to 
No credible info to support ISIS claim, Las Vegas undersheriff says; rumor and speculation has not been helpful to our investigation.



Replying to 
Jesus Campos, security guard who first confronted Las Vegas attacker during the attack, is "an absolute hero."



Replying to 
FBI says working to post billboard ads across the Las Vegas area seeking more info from the public about the concert attack investigation.




Replying to 
Undersheriff: Believe responding security guard was shot during the attack on the Las Vegas concert crowd.



More loose odds & ends to consider...





Puerto Rico....



"We will be here for the long haul," says , in remarks at church in Puerto Rico. "We will get through this," he pledges.




. says progress being made in Puerto Rico, "but we have a long way to go." "Be sure we'll be with you every step of the way."



Estimated Puerto Rico losses



The US military is all in providing relief support and rebuilding infrastructure in Puerto Rico






Replying to 
"I know the president went, but he went to another part, not in the center. I would like you to go to the center," the woman told VP Pence.



Gov't distributed pesticides to 13 municipalities



Puerto Rico water utility: services to be restored despite looming gov’t insolvency -



FEMA will have 8 routes today to deliver diesel to hospitals, said gov




Access to money: 174 banks and 116 coops are open, and 481 ATM's around the island are operational



Government's death toll has increased from 34 to 36 deaths directly or indirectly related to Hurricane María




Updates on Gov't management...





Let’s talk today; I will be in touch. I have no doubt will work w/ to globally showcase the power of its technology.





Swampland......



Further tariff of 80% on import of Bombardier's C-Series jet to US- follows earlier tariff of 220% for UK/Canada subsidies to Bombardier.






1 hour ago
About last night...






Broad range of military options requested to be provided at faster pace...seems important.






"You'll have to wait and see," says , asked what the President means by "calm before the storm."



WHITE HOUSE SAYS SECRETARY OF STATE TILLERSON STILL HAS THE CONFIDENCE OF PRESIDENT TRUMP



Senior White House official slapping down rumors that Pompeo is moving to State Department pretty hard.




Seems like the damn may be breaking on a major scandal mere weeks before Vance is up for unopposed reelection.






Foreign Policy....



This week wraps up w/: - decertification announcement; - THAAD sale to KSA approval. Coming soon: potential designation.




Comment made just as North Korea produces another propaganda video of it nuking the U.S.




IRGC to be designated as terror group by US. This as decision on certification of JCPOA by POTUS looms.





October 10th test date , keeps popping up.




SANDERS: ALL OPTIONS ON THE TABLE `AS THEY HAVE BEEN' ON KOREA




Another test being prepped , seems like reason question is when ?






Hoo boy. State Dep't gives its nod to $15B (!) THAAD sale to . 44 (!) THAAD launchers & 360 interceptors in possible package.



IRAN'S FOREIGN MINISTRY SAYS TEHRAN'S MISSILE PROGRAMME NON-NEGOTIABLE, DENIES REUTERS REPORT Fake news everywhere



Saudi Arabia To Be Put In UN Blacklist Amid Saudi King’s Visit To Moscow




US Military Halts Exercises With Gulf Countries Over Qatar Diplomatic Crisis




Odds & Ends....




1 hour ago
The city of Newark, NJ files a lawsuit against opioid manufacturers




NEW: US Embassy in Havana issues hotel restrictions to citizens after some report suffering from symptoms of hearing loss & cognitive issues




Steele still doesn't want to divulge his paymaster....






Europe Grab Bag.....



UK News.... UK-EU Talks...




Yep - and if they insist on having money up front we should walk away.





Interesting......




Not shocked. ...




Germany, France dash UK hopes of fast-tracked talks on transition deal, say divorce bill must be resolved first --FT



EU Concerns....


CORRECT: AIRBUS PROBES 100 POSSIBLE BRIBERY PAYMENTS: SPIEGEL. Another Putin hack



Answer for some EU politicians seems to be devolve more powers to EU and away from EU countries.




Spain.....




Catalonia state of play...







Spain moves to ease exit of companies out of Catalonia





MAJOR BREAKING: CaixaBank, Spain's third largest bank, moves coporate address from Catalonia to Valencia. (La Vanguardia)




BREAKING: Service Point Solutions confirms to Spanish stock regulator CNMV it has changed its corporate address from Barcelona to Madrid.





LATEST: Puigdemont's appearance in Catalan Parliament pushed backed to Tuesday, October 10 at 6 p.m.




LATEST: Catalan government sends official vote results to Catalan parliament. (pdf)



⚠️Final Referendum Result in Catalonia: 90.18% 'Yes' vs 7.83% 'No'. 1.98% blank votes. Participation: 43.03%




SPANISH UTILITY GAS NATURAL GAS.MC MOVES LEGAL BASE FROM CATALONIA TO MADRID - SOURCE




CATALAN PRO-INDEPENDENCE PARTY SAYS NOT WORKING ON ANY SCENARIO TO DELAY DECLARATION OF INDEPENDENCE - EL MUNDO



Neutral Switzerland is ready to provide a platform for dialogue between the Spanish government and Catalonia (RTS / Reuters)




Replying to 
Swiss State Broadcaster cited the foreign ministry as saying Swiss authorities were in contact with both parties for mediation.



Nice thread explaining HQ change motivation...




So much for that...




BREAKING: High Court in Catalonia issues copy of complaint against Police and Civil Guard, with casualty figures. Standby for count.



⚠️Catalan police chief Josep-Lluís Trapero and two pro-indy leaders are already in Madrid to testify in Spanish Court on sedition charges