Hey friend,
We got the latest PCE Index data this morning.
It came in right in line with expectations at 4.1% annually.
We also got consumer spending and personal spending growth – both of which came in significantly higher than expected.
And that was the same for third-quarter GDP growth estimates, at 2.1% (compared to consensus estimates of 1.7%).
The weekly jobless claims data also came in below expectations and last week’s figures.
In balance, it’s pretty good news for the economy.
Let’s see how the markets have been reacting.
The Daily Direction
Note: All indexes closed slightly higher yesterday, and while they opened higher this morning, most of them have been declining through the morning.
The Daily Nugget
The market is a game of information.
Prices are the purest form of information.
In a way, they’re a manifestation of all the information about the market floating around out there.
But ultimately, it’s all just information.
That makes the market nothing but a game of information.
Those with superior information win – simple as that.
Why do you think Wall Street firms spend millions upon millions hiring analysts to scour through every detail of a company’s financial report?
Why do commodity houses pay out their nose for access to private satellite data to scope out weather patterns?
It all comes down to getting superior information.
It’s the most powerful edge in the markets.
That’s how clueless politicians with no trading or financial background whatsoever are able to outperform Wall Street pros.
The same goes for the corporate insiders – high-level execs exploiting a SEC loophole to trade their own company stock.
They have better information about their own company’s prospects than even the highest-paid analysts.
That’s what makes following the trades of the right insiders so powerful.
And tomorrow, Head Trader Ross Givens will reveal his top strategy for doing this…
So keep an eye out for that.
But for today, don’t forget to watch his latest YouTube video on the $3 stock powering every quantum computer.
The Traders Agency Team
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