The Fractal Futures Trader » Fed announcements http://www.emini-maven.com/wordpress Learn to Make $500-1000 a Day Trading the E-mini Contracts Sun, 01 Jan 2012 19:53:15 +0000 en hourly 1 http://wordpress.org/?v=3.3 The Fed Speaks: Didn’t He Say the Same Thing Last Month? http://www.emini-maven.com/wordpress/2010/08/the-fed-speaks-didnt-he-say-the-same-thing-last-month/ http://www.emini-maven.com/wordpress/2010/08/the-fed-speaks-didnt-he-say-the-same-thing-last-month/#comments Tue, 10 Aug 2010 04:00:15 +0000 trader7757 http://www.emini-maven.com/wordpress/?p=1342 Day trading today was like watching a nail rust. I find that amazing, too. The Fed has been saying the same thing for the last three months and there have been no substantive changes in the economy. They can’t lower rates, as the Fed Funds rate is already zero. So that rules out any earthshaking rate changes, and they can’t raise rates because the economy continues to, at best, stagger like a drunken sailor.

Just the same, the market waited with eager anticipation to hear what Mr. Bernanke would say. Imagine my astonishment when he said, well, he said the same things he has been saying for the last three months. The fed is going to continue quantitative easing (which is the latest phrase in a long list of Fed Speak anachronisms) and they may or may not buy some bonds to accomplish this goal. The Fed chairman did not see any immediate relief from the recession-like conditions we are experiencing. I am certainly glad we are out of the recession, and now just experiencing recession-like conditions. I would appreciate it if somebody would clarify the difference between a recession and recession-like conditions.

But the most interesting consequence of all this Federal Reserve nonsense is in the pall that falls over the stock market as it waits in eager anticipation for the utterances of the Fed chairman. Did they think he was going to say something new? To be sure, the Fed is nearly out of options for managing our monetary system. They can’t move interest rates because they have run out of room: they have a big gun, but no bullets.

And that’s what has me scratching my head. Why all this trepidation every time the Fed meets? They are, essentially, out of options to manage the economy and it’s not like you can count on them to spell out, in real terms, how damaged our economy has become. No, that would have people running to the bank’s like lemmings in a desperate attempt to withdraw whatever money they could get their hands on. So we listen to our Fed chairman spew nearly indecipherable musings of on the esoteric economic theories and machinations the Fed is currently employing to make everything “all better.”

So the market went sideways for a good portion of the day as we waited for the Fed chairman’s proclamations: and when the earthshaking proclamations were issued the market resumed its normal activity. And you know what is really crazy? We will do the same thing next time the Fed meets. Even worse, nothing will be changed and we will ask ourselves, “didn’t he say that last month?”

Related Blogs

]]> http://www.emini-maven.com/wordpress/2010/08/the-fed-speaks-didnt-he-say-the-same-thing-last-month/feed/ 0 Some Random Thoughts for Week Starting August 9, 2010 http://www.emini-maven.com/wordpress/2010/08/some-random-thoughts-for-week-starting-august-9-2010/ http://www.emini-maven.com/wordpress/2010/08/some-random-thoughts-for-week-starting-august-9-2010/#comments Mon, 09 Aug 2010 02:28:54 +0000 trader7757 http://www.emini-maven.com/wordpress/?p=1338 We ought to have an interesting week as the market continues to worry about the economy, despite robust earnings from a number of major corporations. Walt Disney, Cisco, and J. C. Penney will all be reporting earnings this week.

Of course, the real center of attention will be on the Fed meeting this week. Investors will be paying close attention to what the Fed has to say, which is amusing to me because they have been saying the exact same thing for quite some time now and are not expected to change the tenor of their ongoing advice. Just the same, countless investors will be glued to their television sets as the usual suspects spew nearly identical blather of Fed Speak for the masses to decipher for some hidden meaning.

In short, you can count on the interest rates remaining the same, with the chairman explaining he expects rates to stay the same until the end of the year. The Fed will be also engaging in quantitative easing, which has become the Fed Speak term for the past year. Translated, it means they want more money in the economy so people will buy stuff and banks will make loans. Unfortunately, banks have been reluctant to participate in the quantitative easing program as they are more concerned with profit margins than ever.

The futures markets have been interesting of late, and there has been interesting moves nearly every day of the past week. I have to admit that predicting the market moves as become a nearly impossible task as traders seem skittish and prone to react to the smallest of reports or rumors. All in all, it makes for some very interesting trading, though you need to be careful not to over commit to any position.

Hewlett-Packard ought to dominate the news tomorrow as their recently departed CEO resigned over several allegations, including a little hanky-panky he is one should not have been involved in. There have been a number of articles on the business pages outlining which direction Hewlett-Packard will take in the coming years regarding its business model. Most of this blather is just that, blather.

Of course, there has been plenty of talk about the employment reports, or more aptly, the unemployment reports. Corporations have been unwilling to add personnel as they fret over the future of the US economy and consumer spending. Most economists don’t expect the employment picture to improve in the near term. This leaves the Fed in a bit of quandary, as it is necessary for employment to improve in the economy move out of near recession levels.

Related Blogs

]]> http://www.emini-maven.com/wordpress/2010/08/some-random-thoughts-for-week-starting-august-9-2010/feed/ 0 ES Emini Day Trading: Pivot-Fed Announcements-Commentary http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-13/ http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-13/#comments Tue, 29 Dec 2009 06:41:27 +0000 trader7757 http://www.emini-maven.com/wordpress/?p=1174 Chart courtesy of AMP Trading, get a free demo account and paper trade. Call Chad at AMP Trading (800) 560-1640 for first class service. He does a great job.

ESH0
For 12/29/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESH0 1123.00 1123.50 1122.75 1122.25 1122.00

Fed and Fed Agency Announcements

Redbook
[Bullet8:55 AM ET

C

5-Yr Note Auction
[Bullet1:00 PM ET

Consensus Analysis

Consumer Confidence
Released on 12/29/2009 10:00:00 AM For Dec, 2008
Prior Consensus Consensus Range
Consumer Confidence – Level 49.5 53.0 50.0  to 55.0

Market Consensus Before Announcement
The Conference Board’s consumer confidence index in November rose slightly to 49.5 from 48.7 the prior month but still disappointing compared to the recent high of 54.5 in August. The expectations index has come down in recent months while the present situation index remains near record lows.

I endorse a state of the art trading program for beginners at Trading Concepts, Inc It’s an awesome product that will have you well on your way to trading success. Plus, it has a money back guarantee…you have nothing to lose and thousands to gain.

]]> http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-13/feed/ 0 ES Emini Day Trading: Pivot-Fed Announcements-Commentary http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-10/ http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-10/#comments Thu, 17 Dec 2009 03:59:54 +0000 trader7757 http://www.emini-maven.com/wordpress/?p=1130 Chart and info courtesy of AMP Trading, get a free demo account and paper trade.  Call Chad at AMP Trading (800) 560-1640 for first class service.  He does a great job.

ESZ9
For 12/17/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESZ9 1115.58 1120.67 1111.67 1106.58 1102.67

Fed and Fed Agency Announcements

Jobless Claims
[Report][djStar]8:30 AM ET
Money Supply
[Bullet4:30 PM ET
]]> http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-10/feed/ 0 ES Emini Day Trading: Pivot-Fed Announcements-Commentary http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-9/ http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-9/#comments Wed, 16 Dec 2009 15:05:28 +0000 trader7757 http://www.emini-maven.com/wordpress/?p=1126 ESZ9
For 12/16/2009

How To Use
Symbol R1 R2 Pivot S1 S2
ESZ9 1114.58 1120.42 1109.92 1104.08 1099.42

Fed and Fed Agency Announcements

Housing Starts
[Report][Star]8:30 AM ET
Current Account
[Report][Bullet8:30 AM ET

Consensus Analysis

MBA Purchase Applications
Released on 12/16/2009 7:00:00 AM For wk12/11, 2009
Prior Actual
Purchase Index – W/W Change 4.0 % -0.1 %

Highlights
MBA’s purchase index slipped 0.1 percent in the Dec. 11 week with the refinance index up 0.9 percent. Mortgage rates remain extremely low, at 4.92 percent for 30-year loans. Housing starts for November will be released at 8:30 ET this morning and are expected to show a gain following a drop in October.

Consumer Price Index
Released on 12/16/2009 8:30:00 AM For November, 2009
Prior Consensus Consensus Range Actual
CPI – M/M change 0.3 % 0.4 % 0.2 % to 0.6 % 0.4 %
CPI – Y/Y change -0.2 % 1.9 %
CPI less food & energy 0.2 % 0.1 % 0.1 % to 0.2 % 0.0 %
CPI less food & energy – Y/Y change 1.7 % 1.7 %

Highlights
The consumer price report for November was calming on most financial markets despite the rise in the headline number. Both the headline and core numbers were much less inflationary than yesterday’s scary PPI numbers. Headline consumer price inflation jumped 0.4 percent in November after gaining 0.3 percent the month before. The November headline matched the consensus forecast. Core CPI inflation-in contrast with yesterday’s core PPI run up-eased to 0.0 percent (no change) after a 0.2 percent increase in October. The consensus had called for a 0.1 percent rise.

The headline number was boosted mainly by a 4.1 percent surge in energy costs after a 1.5 percent gain in October. Gasoline was up 6.4 percent, following a 1.6 percent gain the month before. Food price inflation was soft in November with a 0.1 percent rise-the same as in October.

Within the core, declines in shelter indexes offset increases in costs for new and used motor vehicles, medical care, airline fares, and tobacco. Shelter costs declined 0.2 percent in the latest month, led by a 1.5 percent drop in lodging away from home. Owners’ equivalent rent dipped 0.1 percent. Hotels-including resorts-continued to engage in heavy discounting. High unemployment is keeping rent soft in general.

Year-on-year, headline inflation increased to plus 1.9 percent (seasonally adjusted) from minus 0.2 percent in October. The core rate was unchanged in November at up 1.7 percent. On an unadjusted year-ago basis, the headline number was up 1.8 percent in November while the core was up 1.7 percent.

Inflation is still high at the headline level but it is not as severe as earlier indicated by the PPI for November. A flat reading for the CPI core suggests that a sluggish economy is keeping underlying inflation tame for now.

Housing Starts
Released on 12/16/2009 8:30:00 AM For November, 2009
Prior Consensus Consensus Range Actual
Starts – Level – SAAR 0.529 M 0.575 M 0.540 M to 0.600 M 0.574 M
Permits – Level – SAAR 0.552 M 0.584 M

Highlights
Housing starts looked good for November but most of the gain was largely a comeback and then some in multifamily starts-a volatile component. The single-family component posted only a partial rebound. Construction companies picked up the pace of groundbreaking for new homes as housing starts in November rebounded 8.9 percent, following a revised 10.1 percent plummet in October. The November pace of 0.574 million units annualized came in right at the market forecast for 0.575 million units and was down 12.4 percent on a year-ago basis. The latest comeback was led by a 67.3 percent rebound in multifamily starts, following a sharp 29.5 percent plunge in October. Meanwhile the single-family component edged up 2.1 percent after a 7.1 percent fall the month before.

By region, the November rebound in starts was led by 16.4 percent rebound in the Northeast with gains also seen in the South, up 12.3 percent; Midwest, up 3.0 percent; and West, up 1.9 percent.

Homebuilders are modestly optimistic about ramping up the pace of construction as housing permits in November rebounded 6.0 percent after falling 4.2 percent in October. October’s pace of 0.552 million units annualized was down 24.3 percent on a year-ago basis.

Today’s housing starts report is good but should be seen in the context of October’s weak numbers. The two months together indicate that housing is in a slow recovery. The bad news is that the recovery is slow. But the good news is that the housing construction recovery is slow-anything more robust at this point would not be sustainable.

FOMC Meeting Announcement
Released on 12/16/2009 2:15:00 PM
Prior Consensus
Federal Funds Rate – Target Level 0 to 0.25 % 0 to 0.25 %

Market Consensus Before Announcement
The FOMC announcement for the December 15-16 FOMC policy meeting is expected to leave the fed funds target rate unchanged at a range of zero to 0.25 percent. However, traders will be watching to see if the “extended period” language is qualified with any additional wording regarding the future path of the fed funds rate. Traders also will look for updates on the Fed’s view of the recovery and on the Fed’s plan for unwinding balance sheet expansion.
]]> http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-9/feed/ 0 ES Emini Day Trading: Pivot-Fed Announcements-Commentary http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-8/ http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-8/#comments Tue, 15 Dec 2009 03:24:03 +0000 trader7757 http://www.emini-maven.com/wordpress/?p=1120 ESZ9
For 12/15/2009

How To Use
Symbol R1 R2 Pivot S1 S2
ESZ9 1119.50 1125.50 1112.00 1106.00 1098.50

Fed and Fed Agency Announcements

Redbook
[Bullet8:55 AM ET

Consensus Highlights

Producer Price Index
Released on 12/15/2009 8:30:00 AM For November, 2009
Prior Consensus Consensus Range
PPI – M/M change 0.3 % 1.0 % 0.5 % to 1.2 %
PPI less food & energy – M/M change -0.6 % 0.2 % 0.0 % to 0.4 %

Market Consensus Before Announcement
The producer price index increased 0.3 percent in October after dropping 0.6 percent the month before. The rise in the latest month was led a 1.6 percent boost in energy and a 1.6 percent gain also for food. But at the core level, the PPI rate unexpectedly dropped 0.6 percent, following a 0.1 percent dip in September. The fall at the core level was due mainly to declines in prices for light trucks and passenger cars. Looking ahead, there is still upward pressure on the headline figure from higher oil prices. Imported petroleum prices were up 6.2 percent in November. Also, seasonally adjusted spot prices for West Texas Intermediate increased 6.9 percent for the month.

Housing Starts
Released on 12/16/2009 8:30:00 AM For November, 2009
Prior Consensus Consensus Range
Starts – Level – SAAR 0.529 M 0.575 M 0.540 M to 0.600 M

Market Consensus Before Announcement
Housing starts in October unexpectedly dropped 10.6 percent, following a 1.9 percent gain the month before. The fall in October was led by a 34.6 percent plunge in multifamily starts but the single-family component also slipped-by 6.8 percent.

FOMC Meeting Announcement
Released on 12/16/2009 2:15:00 PM
Prior Consensus
Federal Funds Rate – Target Level 0 to 0.25 % 0 to 0.25 %

Market Consensus Before Announcement
The FOMC announcement for the December 15-16 FOMC policy meeting is expected to leave the fed funds target rate unchanged at a range of zero to 0.25 percent. However, traders will be watching to see if the “extended period” language is qualified with any additional wording regarding the future path of the fed funds rate. Traders also will look for updates on the Fed’s view of the recovery and on the Fed’s plan for unwinding balance sheet expansion.

I endorse a state of the art trading program for beginners at Trading Concepts, Inc It’s an awesome product that will have you well on your way to success. Plus, it has a money back guarantee…you have nothing to lose and thousands to gain.

]]> http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-8/feed/ 0 ES Emini Day Trading: Pivot-Fed Announcements-Commentary http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-6/ http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-6/#comments Fri, 04 Dec 2009 04:14:33 +0000 trader7757 http://www.emini-maven.com/wordpress/?p=1091 Chart courtesy of AMP Trading, get a free demo account and paper trade. Call Chad at AMP Trading (800) 560-1640 for first class service. He does a great job.

ESZ9
For 12/04/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESZ9 1110.83 1123.67 1104.17 1091.33 1084.67

Fed and Agency Announcements

Barack Obama Speaks

Jobless Claims
[Report][Star]8:30 AM ET

Ben Bernanke Speaks
10:00 AM ET

ISM Non-Mfg Index
[Report][djStar]10:00 AM ET

Eric Rosengren Speaks
12:30 PM ET

Pertinent Consensus Analysis

Jobless Claims
Released on 12/3/2009 8:30:00 AM For wk11/28, 2009
Prior Consensus Consensus Range Actual
New Claims – Level 466 K 485 K 471 K to 495 K 457 K
4-week Moving Average – Level 496.5 K 481.25 K

Highlights
Initial jobless claims fell 5,000 in the Nov. 28 week to 457,000, extending a run of impressive improvement that points squarely at improvement for total payrolls (prior week revised 4,000 lower). The four-week week average is lagging despite falling 14,250 in the week to 481,250. Continuing claims for the Nov. 21 week rose slightly to 5.465 million with the insured-workers unemployment rate steady at 4.1 percent, well down from a summer peak of 5.2 percent. The slight gain in continuing claims hardly puts a dent into 10 prior weeks of improvement, improvement reflecting new hiring but also, and likely to a large degree, the expiration of benefits. Those receiving extended benefits rose nearly 60,000 to just under 600,000 in data for the Nov. 14 week. Markets moved higher but only briefly in reaction to the report, one that will firm expectations for solid improvement in tomorrow’s November employment report.
Market Consensus Before Announcement
Initial jobless claims fell 35,000 in the November 21 week to 466,000. With the four-week average also breaking below 500,000, down 16,500 to 496,500, the latest numbers indicate that companies have reduced the pace of printing pink slips. This may be the early beginnings of recovery in the labor market. But most economists believe that the return to normalcy will be extremely slow. Continuing claims also fell in the latest week, down 190,000 to 5.423 million in data for the November 14 week, but the change also reflects the expiration of benefits.

Productivity and Costs
Released on 12/3/2009 8:30:00 AM For Q3:09
Prior Consensus Consensus Range Actual
Nonfarm productivity – Q/Q change – SAAR 9.5 % 8.5 % 8.5 % to 8.8 % 8.1 %
Unit labor costs – Q/Q change – SAAR -5.2 % -4.2 % -4.5 % to -4.0 % -2.5 %

Highlights
Productivity in the second quarter was revised down with the Labor Department’s second estimate for the quarter. Third quarter productivity was revised to an annualized 8.1 percent surge from the initial estimate of a 9.5 percent boost. The market consensus had expected a revision to an 8.5 percent increase. Unit labor costs were revised up somewhat (less negative) to an annualized decline of 2.5 percent, compared to the original estimate of a 5.2 percent fall. The consensus estimate was for a 4.2 percent decline.

The downward revision to productivity was primarily due to a downward revision to growth of third quarter output in the nonfarm business sector-to 2.9 percent annualized from the initial 4.0 percent. Unit labor costs were revised up based on the lower growth in output and higher compensation estimates. Compensation growth was revised up to an annualized 5.4 percent from the initial third quarter number of 3.8 percent growth. Hours worked were little revised.

Year-on-year, productivity rose to up 4.0 percent in the third quarter from 1.9 percent in the second quarter. Year-ago unit labor costs fell to minus 1.4 percent from up 0.3 percent in the second quarter.

Today’s revisions indicated that labor costs are not as weak as previously believed but they are still subdued. The new numbers might have had a negative impact on equities, but the big news is the lower-than-expected jobless claims which boosted equity futures and bond yields.
Market Consensus Before Announcement
Nonfarm productivity in the third quarter surged 9.5 percent annualized, following a revised 6.9 percent boost in the second quarter. This was the largest gain in productivity since the third quarter of 2003, when it rose 9.7 percent. In tandem, unit labor costs dropped an annualized 5.2 percent after declining a revised 6.1 percent in the second quarter. The latest spike in productivity reflected both higher output and fewer hours worked. Looking ahead, we are likely to see a downward revision to third quarter productivity and upward revision to unit labor costs based on the second estimate for GDP growth in the same period. Real GDP was revised down to 2.8 percent from the advance estimate of 3.5 percent. The output component of productivity and unit labor costs is based on much of the same source data as GDP.

Monster Employment Index
Released on 12/3/2009 For November, 2009
Prior Actual
Monster Employment Index 120 119

Highlights
The Monster employment index edged down 1 point to 119 in November. Government and healthcare extended several months of weakness. Retail has also been weak. But on the strong side is transportation & warehousing, a group that offers a reading on supply-chain congestion and that may be signaling gains ahead for general economic activity. November’s big U.S. jobs report comes out tomorrow morning with expectations looking for solid improvement.

Chain Store Sales

Highlights
November’s chain-store reports are net positive for the economic outlook. November started off slow, hurt by warm weather, which cut demand for seasonal goods, and by consumer anticipation ahead of Black Friday discounts. The Thanksgiving weekend proved to be very positive for many chains — momentum that points to month-to-month improvement this month. Chain stores report their results in year-on-year terms, and a look back at last year shows that November had a higher base than October (remember October and September were hit by the credit panic). So even though sales rates were a bit weaker, November’s ex-auto ex-gas reading looks to be about flat. Auto sales, based on Tuesday’s unit-sale data, look to be strong while sales at gas stations will get a boost from higher prices and favorable seasonal adjustments. All in all, the retail outlook is favorable in what may be confirmation of improvement underway in the jobs market.
]]> http://www.emini-maven.com/wordpress/2009/12/es-emini-day-trading-pivot-fed-announcements-commentary-6/feed/ 0 ES Emini Day Trading: Pivot-Fed Announcements-Commentary http://www.emini-maven.com/wordpress/2009/11/es-emini-day-trading-pivot-fed-announcements-commentary-4/ http://www.emini-maven.com/wordpress/2009/11/es-emini-day-trading-pivot-fed-announcements-commentary-4/#comments Tue, 01 Dec 2009 04:46:52 +0000 trader7757 http://www.emini-maven.com/wordpress/?p=1071 ESZ9
For 12/01/2009

How To Use
Symbol R1 R2 Pivot S1 S2
ESZ9 1100.33 1105.92 1092.42 1086.83 1078.92

Fed and Fed Agency Announcement

Redbook
[Bullet8:55 AM ET
ISM Mfg Index
[Report][Star]10:00 AM ET

Charles Plosser Speaks
12:20 PM ET

In depth Consensus Reports

Motor Vehicle Sales
Released on 12/1/2009 For Nov, 2009
Prior Consensus Consensus Range
Domestic Vehicle Sales 7.9 M 7.75 M 7.50 M to 8.00 M

Market Consensus Before Announcement
Sales of domestic light motor vehicles in October rebounded 17.2 percent to 7.8 million units as sales returned to normal-at least for the current recovery. Combined sales of domestics and imports in rose to a 10.5 million annualized unit rate from 9.2 million in September. Now that the monthly swings from cash-for-clunkers have been wrung out from the data, November will stand out as a possibly true measure of the strength of demand for motor vehicles and of the viability of the consumer sector to a large degree

ISM Mfg Index
Released on 12/1/2009 10:00:00 AM For November, 2009
Prior Consensus Consensus Range
ISM Mfg Index – Level 55.7 55.0 53.8  to 56.0

Market Consensus Before Announcement
The composite index from the ISM manufacturing survey jumped more than 3 points in October to 55.7. This is the strongest for this index in more than three years. Showing the most improvement of the composite’s components was the production index which advanced over 7-1/2 points to 63.3. But we may see some leveling off in the composite index in November as the new orders index eased from 60.8 in September to 58.5 in October, but still remained well in positive territory. Price increases were steady in the month, showing little change at 65.0 compared to 63.5 in September.

Construction Spending
Released on 12/1/2009 10:00:00 AM For October, 2009
Prior Consensus Consensus Range
Construction Spending – M/M change 0.8 % -0.4 % -1.5 % to 0.3 %

Market Consensus Before Announcement
Construction spending was sharply higher than expected for September but a large downward revision to August was essentially offsetting. Overall construction spending advanced 0.8 percent in September after slipping a downwardly revised 0.1 percent in August. The decrease in August was now significantly lower than the original estimate of a 0.8 percent gain. The boost in spending in September was led by a 3.8 percent surge in private residential outlays. Private nonresidential declined 1.8 percent and public outlays decreased 0.1 percent in the latest month.
]]> http://www.emini-maven.com/wordpress/2009/11/es-emini-day-trading-pivot-fed-announcements-commentary-4/feed/ 0