Gibbum Diem.




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  • The S&P was in danger and did close below its 50-DMA

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  • United States MBA 30-Year Mortgage Rate was reported at 4.64% in 23/Feb It was expected at 4.65%.
  • United States MBA Mortgage Applications was reported at 2.7% in 23/Feb from -6.6% in the previous period. It was expected at 0.70%. 
  • United States GDP Growth Rate QoQ 2nd Est was reported at 2.5% in Q4 from 3.2% in the previous period. It was inline with expectations.
  • United States Consumer Spending was reported at 12027.89 USD Billion in 2017 from 11916.58 in the previous period.
  • United States Chicago PMI was reported at 61.9 in Feb from 65.7 in the previous period. It was expected at 64.2.
  • United States Pending Home Sales Index was reported at 104.6 in January from a downwardly revised 109.8 in December 2017, according to the National Association of Realtors ®
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         Pending Sales Skip a Beat to Start 2018 
  • Pending home sales declined 4.7% to 104.6 in January, reversing the prior three months of modest gains. The index now sits at the lowest level since 2014; however, the sharp decline this month may be overstated by seasonal factors.
  • Homebuilder surveys indicate that demand remains strong, however, a persistently low inventory of homes for sale and harsh temperatures may have kept potential buyers on the sidelines.
    Sales Fell Across Every Region 
  • Initial contract signings fell across all regions and were especially pronounced in the Northeast and Midwest where colder temperatures in early January likely had an outsized impact.
  • The South fell 3.9%, however, activity in the region remains elevated due to strong population and employment gains.
  • January marks the West’s fifth consecutive month of falling contract signings, a trend amplified by inventory shortages.
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If pending home sales print wasn’t enough home improvement blues for you then I’m sure you’re aware that Lowe’s Companies, Inc. ($LOW) reported Q4 17 earnings this morning before the cash market opened. The earnings came in as follows:


  • Q4 Adj. EPS $0.74 vs $0.87 Est., Sales $15.49B vs. $15.33B Est.

  • Lowe’s See FY18 Sales To Increase~4%, EPS $5.40-$5.50

  • Lowe’s reports it will expand Partnership with Sherwin-Williams, Will ‘introduce a simplified, exclusive paint and exterior stain line design.’


Now I suppose people will want to take advantage of the higher prices in the housing market and lack of supply providing a tailwind for higher prices for their homes, they’ll need to put some”CAPEX” into them, eh? All I know is that the Fine Paints of Europe brand on Benjamin Moore sold like a fresh “baking soda cake” fresh out the microwave. Shout out to Charles Street Hardware!

What an asshole I was. Am. Whatever. Summer Jobs in Boston.
  • United States EIA Gasoline Stocks Change was reported at 2.483M in 23/Feb from 0.261M in the previous period. It was expected at -0.19M.
  • United States EIA Crude Oil Stocks Change was reported at 3.019M in 23/Feb from -1.616M in the previous period. It was expected at 2.4M.
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  • Summary of Weekly Petroleum Data for the Week Ending February 23, 2018
    U.S. crude oil refinery inputs averaged about 15.9 million barrels per day during the week ending February 23, 2018, 49,000 barrels per day more than the previous week’s average. Refineries operated at 87.8% of their operable capacity last week. Gasoline production decreased last week, averaging 9.4 million barrels per day. Distillate fuel production remained nearly unchanged last week, averaging 4.5 million barrels per day.
    U.S. crude oil imports averaged 7.3 million barrels per day last week, up by 261,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged about 7.5 million barrels per day, 8.1% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 446,000 barrels per day. Distillate fuel imports averaged 207,000 barrels per day last week.
    U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.0 million barrels from the previous week. At 423.5 million barrels, U.S. crude oil inventories are in the lower half of the average range for this time of year. Total motor gasoline inventories increased by 2.5 million barrels last week, and are in the upper half of the average range. Finished gasoline and blending components inventories both increased last week. Distillate fuel inventories decreased by 1.0 million barrels last week and are in the middle of the average range for this time of year. Propane/propylene inventories decreased by 0.4 million barrels last week, and are in the lower half of the average range. Total commercial petroleum inventories increased by 3.7 million barrels last week.
    Total products supplied over the last four-week period averaged 20.4 million barrels per day, up by 2.7% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged 9.0 million barrels per day, up by 3.8% from the same period last year. Distillate fuel product supplied averaged over 4.0 million barrels per day over the last four weeks, up by 0.9% from the same period last year. Jet fuel product supplied is up 9.4% compared to the same four-week period last year
More on Oil via CNBC
  • Weak Asian industrial data, a report of rising U.S. crude stockpiles and soaring American oil production are weighing on the oil market.
  • Chinese factory growth slowed to the lowest level since July 2016, while Japan’s industrial output took the biggest dive since 2011.
  • U.S. stockpiles of crude oil and gasoline rose last week, according to a government previews Wednesday’s official government data.
Oil prices fell on Wednesday after data showed U.S. stockpiles of crude and gasoline increased, putting further pressure on futures after industrial ctivity in some of the world’s major crude-consuming nations has softened (CHINA).
U.S. Commercial crude inventories rose by +3 million barrles in the week to February 23rd to a toal of 423.5 million barrles. Analyst surveyed by Reuters, expected an increase of +2.1 million barrels. 
Gasoline stocks rose by +2.5 million barrels, compared to analysts’ expectations of a -190,000 decline in gasoline stocks.
Distiltiate stockpiles, whicj include diesal and heating oil, fell by 1 million barrels, versuses expectations for a -709,000 barrel decline in investory, the EIA data showed.

Market Breadth 













Put/Call Ratios 

$OEW Put:Call

$OEX Put:Call Raw


Asset Class Roud Up










National Association of Realtors

Lowe’s Companies, Inc.  Investor Relations 




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