DC Lite #483

1. Retail sales proxy. "The forward revenues of the S&P 500 Retail Composite rose to another record high during the week of November 17. That augurs well for the monthly retail sales report from the Census Bureau."

2. Global loan demand. "It seems like the prevailing macro mood right now is one of pessimism. But here’s an interesting datapoint … Loan demand is on the rise: a bullish signal for the growth outlook."

3. FedWatch. The probability of a rate cut at in December dropped to 33% (vs. 50% yesterday) after the BLS announced the cancelation of the October employment report (November will be reported on 12/16, which is *after* the December meeting). The September JOLTS report was also cancelled.

4. Insiders. "Bullish corporate insider activity is typically a favorable sign”.

5. SPX vs. November. "This is the 9th worst first 12 trading days of November on record. Yet even in the 20 weakest starts, the market has often bounced back to finish the year strong."

ICYMI