Archives of “November 17, 2021” day

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Japan trade balance for October Y -67.4bn (expected Y -310bn)

  
Analysis, Economy

Japan trade balance for October Y -67.4bn

  • expected Y -310bn, prior Y -624bn

Trade balance adjusted Y -445bn

  • expected Y -446bn, prior Y -625bn

Exports 9.4% y/y

  • expected 9.9% y/y, prior 13%

Imports 26.7% y/y

  • expected 31.9% y/y, prior 38.6%

Exports to:

  • China +9.5% y/y
  • Asia +15% y/y
  • the US +0.4% y/y
Exports and imports both miss in the month. Expectations are that Japan’s economic performance will improve for the rest of Q4 as it emerges from coronavirus restrictions.

US President Biden says he will be naming the new Fed Chair in “about 4 days”

  
  Analysis

Yesterday we had chatter about from the US Congress that an announcement was ‘imminent’.

I guess 4 days is imminent in a geological time frame but not for markets. Sheesh.
Anyway, from the horse’s mouth now, Biden in response to questioning on the timing of the new Fed Chair announcement:
  • ” you’re gonna hear that in about four days”
Powell, Brainard are the two front runners.
Yesterday we had chatter about from the US Congress that an announcement was 'imminent'. 

US Treas Sec Yellen says the US government can be financed until December 15

  
  Analysis

US Treasury Secretary Yellen in a letter to members of Congress re the debt limit.

  • Yellen says she is confident the government can be funded to December 15
  • after December 15 there are insufficient resources unless the debt ceiling is raised
The countdown is on to December 15 then, that’s the new debt celeing deadline according to Yellen.
OK, well if these folks are going to trot out this charade all over again I’m going to to out this

Major indices close higher on the day. S&P closes just below record close

  
Analysis, US Market

Major indices all closed higher led by the NASDAQ index

The major indices closed higher on the day

  • NASDAQ leads the way with a 0.76% gain
  • Dow industrial average trades up as much as 229 points at the highs. Closed up 57 points
  • S&P and NASDAQ up three of the last four trading days
  • S&P closes just below record closing level

The closing levels are showing:

  • Dow industrial average rose 54.77 points or 0.15% at 36142.21
  • S&P index rose 18.1 points or 0.39% at 4700.91. The high close level is 4701.69.
  • NASDAQ index rose 120.02 points or 0.76% at 15973.87. The index is closing within 0.32% of a new all-time closing level (at 16024.78)
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