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Pragmatic Capitalism

Practical Views on Money & Finance

‘Market Indicators’

Fading Magazine Covers….

“In our latest survey, 74% of money managers identify themselves as bullish or very bullish about the prospects for U.S. stocks — an all-time high for Big Money, going back more than 20 years.”

Bullish Sentiment Declines

Bullish sentiment, expectations that stock prices will rise over the next six months, fell 2.9 percentage points to 35.5%. This is the third consecutive weekly decline. It also puts optimism at its lowest level in a month. The historical average is 39.0%.

Rail Traffic Continues 2013 at a Positive Pace

Rail traffic is continuing to show positive signs here as we head deeper into 2013.  Intermodal traffic was up 5.3% year over year which brings the 12 week moving average to a very healthy 4.84%.  That’s up from 1.3% earlier this year. Here’s the AAR with more details: “AAR also reported mixed rail traffic for… Read More

China PMI Expands at Fastest Pace in 19 Months

More signs of stabilization in one of the world’s largest economies.   Today’s Chinese PMI rose to a 19 month high and solidly in expansionary territory (via Markit): After adjusting for seasonal factors, the HSBC Purchasing Managers’ Index™ (PMI™) – a composite indicator designed to give a single-figure snapshot of operating conditions in the manufacturing… Read More

What is FedEx Telling us About the Global Economy?

Everyone always thinks that Alcoa kicks off the earnings season, but I don’t see it that way.  The real earnings season kicks off with FedEx who usually reports well in advance of Alcoa and gives us a much more meaningful look into the state of the economy.  So what’s the global bellwether telling us?  Here… Read More