Statistically it’s true that on average, over the long term, May through September has been comparatively weak. That’s because the months of May and September have been weak. June, July and August, on average, have been good months. However, any given year can prove to be an exception to the long-term averages.
(Source: Standard and Poor’s, data through May 1, 2014. The Leuthold Group, with permission)
Consumer Inflation rose in April to 8.59%. The elevated inflation levels could pressure on the central bank to keep interest rates at current levels despite pressure from Indian industry to bring them down.
The RBI wants to see consumer inflation ease to 8% by January 2015 and 6% in the following year.
The country’s wholesale price index likely rose 5.80% in April from a year earlier, according to a poll of 12 economists by The Wall Street Journal. The index increased 5.70% in March, which was its fastest rise in three months. The government is scheduled to announce the rate on Thursday.
Food prices rose during the month as vegetable and fruit supplies from a bumper crop earlier in the year dried up. Lower fuel prices helped offset some of the higher food prices, economists said. Indian fuel retailers lowered gasoline prices twice in April.
For the rest of this year economists and weather watchers are worried that below-normal rains during the June through September monsoon season could trigger inflation again.
(Source: Wall Street Journal)
The approximate value of AT&T’s potential offer for DirecTV in a deal that would involve a mix of cash and stock.
(Source: Wall Street Journal)
The sum of overdraft fees charged by U.S. banks in 2013, according to one estimate.
(Source: Wall Street Journal)
The approximate price that Apple might pay to acquire Beats Electronics LLC should current talks yield a deal.
(Source: Wall Street Journal)
Consumer inflation in China moderated to an 18-month low and the decline in factory-gate prices persisted, giving the government more scope to loosen policies if a growth slowdown deepens.
The consumer price index rose 1.8 percent from a year earlier in April, the National Bureau of Statistics said today in Beijing. That compares with the median estimate of 2.1 percent in a Bloomberg News survey and a 2.4 percent gain in March. The producer-price index fell 2 percent, the 26th straight decline, after a 2.3 percent drop the previous month.
Today’s data add to signs that domestic demand remains muted, with falling commodity prices exacerbating overcapacity in industries including steel and cement. The lack of inflationary pressure will allow the People’s Bank of China to relax monetary policy to support the economy if Premier Li Keqiang’s full-year goal of about 7.5 percent is threatened.
(Source: Bloomberg)
| The AAII Investor Sentiment Survey measures the percentage of individual investors who are bullish, bearish, and neutral on the stock market for the next six months; individuals are polled from the ranks of the AAII membership on a weekly basis. Only one vote per member is accepted in each weekly voting period. | |||
Survey Results |
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| Sentiment Survey ResultsWeek ending 5/7/2014 Data represents what direction members feel the stock market will be in the next 6 months. |
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| Bullish |  28.3%down 1.4 |
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| Neutral | 43.0% up 2.2 |
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| Bearish | 28.7% down 0.8 |
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| Note: Numbers may not add up to 100% because of rounding.
Change from last week: Bullish: -1.4 Neutral: +2.2 Bearish: -0.8 Long-Term Average: Bullish: 39.0% Neutral: 30.5% Bearish: 30.5% Here is what Jon Najarian had to say about this high 43% Neutral position:
It’s the highest level of neutrality in more than 10 years. It takes quite a bit to convince individual investors to not have an opinion about the market but that’s what the last two months have managed to do. “The market is just grinding,” says optionMONSTER’s Jon Najarian in the attached clip. “It’s been very easy to be in the wrong individual stocks.” Case in point for Najarian is Twitter (TWTR) which he started buying on the way down, defying his own discipline and incurring a loss prior to a much-needed bounce (which came in shortly after this segment was taped). “The people that can’t decide, the ‘meh’ crowd, that’s probably been the right decision.” As for the market as a whole history suggests a sharp move follows peaks in neutral sentiment. Going back to 2005 AAII neutral sentiment has pushed to 38 on 4 distinct prior occasions (August 2013, December 2011, November 2010 and December 2011). Looking at the S&P 500 (^GSPC) a month later showed greater than 4% moves each time over the subsequent 30 days. Unfortunately for traders the back-test doesn’t give a clear sign. Three of the 1-month moves were up with one sharp drop. Still it’s a safe bet that American investors aren’t going to stay neutral for long. Look for Mr. Market to knock people into the bullish or bearish camps in short order. (Source: AAII, Yahoo Finance) |
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What you need to know:Effective Monday, May 19, 2014, NASDAQ OMX will begin disseminating the Endowment IndexTM(Symbol: ENDOW) on the NASDAQ OMX Global Index Data ServiceSM (GIDS 2.0). |
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The Endowment IndexTM is an objective benchmark for investors who implement a three dimensional portfolio that incorporates alternative investments. This investable index is used for portfolio comparison, investment analysis, research and benchmarking purposes by fiduciaries such as trustees, portfolio managers, consultants and advisors to endowments, foundations, trusts, DB/DC plans, pension plans and individual investors. The Endowment IndexTM has been co-created by Endowment Wealth Management, Inc. and ETF Model Solutions, LLC.
Effective Monday, May 19, 2014, data recipients will receive real-time index information from the proprietary GIDS 2.0 data feed with the following attributes:
| Instrument ID | Instrument Name | Currency | Frequency | FP Type | Brand |
|---|---|---|---|---|---|
| ENDOW | Endowment Index | USD | 1S | I | CI |
In addition to the real-time tick messages, NASDAQ OMX will support the following directory messages on GIDS 2.0:
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