Dear all, I just have review for financial on march 16th. Japanese is facing with a lot of problems. I wished i can give them them some help. however, I can not do any thing now, just wait and pray. Stronger Japanese!. Take time to review the financial market today. Hope it may give you some over view!
New construction number fell to a seasonally adjusted average of 479,000 for the month of February. This is 22% lower than the month before and the lowest since April of '09. A healthy year would be around 1.2 million units so one can see how suppressed the housing market appears at this time. Foreclosures and consumers' ability to qualify for loans have been an issue. Also, some feel the market could go down lower and are hesitant to enter the market. (1)
Eyes are still on Japan and the nuclear reactors. If they do ignite and spread radioactive materials the markets could drop radically. Traders seem to be waiting for news on whether or not these reactors could explode. 70% of the fuel rods at plant No. 1 are damaged and 33% of No. 2 reactors' fuel rods are damaged. At Reactor No. 4 radiation levels are higher and there are reports of a possible break out of a fire which have not been confirmed. (2)
Food prices and energy could be weighing on the average consumer. On the production side, PPI seasonal adjusted number rose to 1.6% which is double the rise from March of 0.8%. Food prices rose 3.9% the biggest gain since November 1974. Vegetable costs rose almost 50% and meat and dairy products also rose. (3)
- Frank LaMantia, PitGuru Financials
New construction number fell to a seasonally adjusted average of 479,000 for the month of February. This is 22% lower than the month before and the lowest since April of '09. A healthy year would be around 1.2 million units so one can see how suppressed the housing market appears at this time. Foreclosures and consumers' ability to qualify for loans have been an issue. Also, some feel the market could go down lower and are hesitant to enter the market. (1)
Eyes are still on Japan and the nuclear reactors. If they do ignite and spread radioactive materials the markets could drop radically. Traders seem to be waiting for news on whether or not these reactors could explode. 70% of the fuel rods at plant No. 1 are damaged and 33% of No. 2 reactors' fuel rods are damaged. At Reactor No. 4 radiation levels are higher and there are reports of a possible break out of a fire which have not been confirmed. (2)
Food prices and energy could be weighing on the average consumer. On the production side, PPI seasonal adjusted number rose to 1.6% which is double the rise from March of 0.8%. Food prices rose 3.9% the biggest gain since November 1974. Vegetable costs rose almost 50% and meat and dairy products also rose. (3)
- Frank LaMantia, PitGuru Financials