PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia remarked on the market from last week, as well as discussed the service sector numbers for October.
Celia stated, “Touching on economic data from last week, I thought it was very odd that we seemed to end the week with everybody talking about consumer spending and the markets going up. As I said previously, there are no correlating numbers. There are two very important numbers we need to look at. The NFIB numbers came out and they were a little below the flat line, which is in negative or pessimistic territory. The other thing from last week that’s very interesting is the consumer sentiment index, which just barely went up. It was considered pretty much flat line as well. Also, we had the consumer price index up 110 from what they were expecting. These numbers really do not line up and I’m not sure where their consumer spending came from. It’s odd that we saw consumer spending up. It doesn’t really matter, but the markets are searching for anything they can grab hold of.
“We are getting manufacturing and service sector numbers for the month of October, which will give us a heads up, but all eyes are going to be on earnings. Another thing to watch is the political side, particularly in and around oil. We’re heading into wintertime; natural gas, oil, utility bills are all in play.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
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