UPDATE: September Chicago Purchasing Manager 60.5 vs 62 Expected Sep 30, 2014 09:53AM

(Updated - September 30, 2014 9:53 AM EDT)

September Chicago Purchasing Manager 60.5 vs 62 Expected

More from the Institute for Supply Management - Chicago:

The Chicago Business Barometer decreased 3.8 points to a still robust 60.5 in September, as Production and New Orders slowed while firms reported a record rise in stocks and a sharp increase in input prices.

With the latest fall, the Barometer ended Q3 at an average of 59.1, down from the weather boosted 63.7 rate seen in Q2, but still showing the US economy is growing at a healthy clip.

There was a surprisingly sharp increase in stocks with firms adding inventories of finished goods at the fastest pace since February 1973. Feedback suggested firms were preparing for robust sales forecasts and potential spikes in unplanned orders.

Despite September‘s fall, the Barometer stands above Q1‘s level and the 10-year average of 55.8, with respondents deeming activity levels as ”strong“ and “surging“, aided by ongoing demand, successful sales promotions and organic growth, all of which called for inventory builds.

The three ordering components fell back after strong readings in August. Production and New Orders, however, remained firm around 60, while Order Backlogs stood above 50 for the second consecutive month. A number of respondents reported that September’s slight slowing was expected to be temporary as businesses reported strong bookings through the end of October.

In contrast, Employment and Supplier Deliveries contributed positively to the Barometer, with the latter lengthening to the longest since April 2011.

There were tentative signs that demand pressures are starting to put some upward pressure on prices. In spite of the recent fall in oil prices, Prices Paid increased to the highest level since November 2012.

Commenting on the Chicago Report, Chief Economist of MNI Indicators said, ”Activity levels remained buoyant in September and point to continued firm economic growth. Moreoever, the record pace of stockbulilding suggests firms are increasingly confident that things will keep improving.“


UPDATE: PIMCO Total Return ETF (BOND) on Watch as Gross Moves to Janus (JNS) Sep 26, 2014 09:12AM

(Updated - September 26, 2014 9:12 AM EDT)

PIMCO Total Return ETF (NYSE: BOND) is on watch today following news that Bill Gross has joined Janus Capital (NYSE: JNS). The ETF appears to be flat in early trading.

Other PIMCO Funds include:

Corporate & Income Strategy Fund (NYSE: PCN)
PIMCO Corporate & Income Opportunity Fund (NYSE: PTY),
PIMCO Global StocksPLUS® & Income Fund (NYSE: PGP)
PIMCO High Income Fund (NYSE: PHK)
PIMCO Income Opportunity Fund (NYSE: PKO)
PIMCO Strategic Income Fund, Inc. (NYSE: RCS)
PCM Fund, Inc. (NYSE: PCM)
PIMCO Income Strategy Fund (NYSE: PFL)
PIMCO Income Strategy Fund II (NYSE: PFN)
PIMCO Dynamic Income Fund (NYSE: PDI)
PIMCO Dynamic Credit Income Fund (NYSE: PCI)


UPDATE: PIMCO Total Return ETF (BOND) on Watch as Gross Moves to Janus (JNS) Sep 26, 2014 09:12AM

(Updated - September 26, 2014 9:12 AM EDT)

PIMCO Total Return ETF (NYSE: BOND) is on watch today following news that Bill Gross has joined Janus Capital (NYSE: JNS). The ETF appears to be flat in early trading.

Other PIMCO Funds include:

Corporate & Income Strategy Fund (NYSE: PCN)
PIMCO Corporate & Income Opportunity Fund (NYSE: PTY),
PIMCO Global StocksPLUS® & Income Fund (NYSE: PGP)
PIMCO High Income Fund (NYSE: PHK)
PIMCO Income Opportunity Fund (NYSE: PKO)
PIMCO Strategic Income Fund, Inc. (NYSE: RCS)
PCM Fund, Inc. (NYSE: PCM)
PIMCO Income Strategy Fund (NYSE: PFL)
PIMCO Income Strategy Fund II (NYSE: PFN)
PIMCO Dynamic Income Fund (NYSE: PDI)
PIMCO Dynamic Credit Income Fund (NYSE: PCI)


U.S. GDP Rose 4.6% in Q2, Flat with Expectations; Personal Consumption, Private Investment Led Gains Sep 26, 2014 08:38AM

(Updated - September 26, 2014 8:38 AM EDT)

Q2 GDP 4.6% vs 4.6% Expected

More from the U.S. Bureau of Economic Analysis:

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 4.6 percent in the second quarter of 2014, according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 2.1 percent.

The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was 4.2 percent. With the third estimate for the second quarter, the general picture of economic growth remains the same; increases in nonresidential fixed investment and in exports were larger than previously estimated.

The increase in real GDP in the second quarter primarily reflected positive contributions from personal consumption expenditures (PCE), exports, private inventory investment, nonresidential fixed investment, state and local government spending, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased.

Real GDP increased 4.6 percent in the second quarter, after decreasing 2.1 percent in the first. This upturn in the percent change in real GDP primarily reflected upturns in exports and in private inventory investment, accelerations in nonresidential fixed investment and in PCE, and upturns in state and local government spending and in residential fixed investment that were partly offset by an acceleration in imports.


VIX Spikes as Markets Pull Back (SPY) (QQQ) (DIA) (VXX) Sep 25, 2014 11:23AM

Volatility on the S&P 500 advanced as markets pulled back Thursday. Heading into mid-day, the Dow (NYSE: DIA) was off by 1.25%, Nasdaq (Nasdaq: QQQ) shed 1.7%, and the S&P (NYSE: SPY) was lower by 1.3%. VIX, also known as the fear indicator, advanced nearly 20% to 15.75.


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