The main dish for this week is August employment report (Wednesday, 8.15am ET) and ISM manufacturing index (Tuesday, 10.00am ET) before the long Labor Day weekend. China market has continued the retracement, started since early month of August. This is the sign that market has reached their peak and primed for correction. There is old Chinese saying like this “Flower can’t be red forever”, the same things apply to stock market. It can’t be continued going up every month!
Last week, Consumer Confidence index came in at 54.1 as a full surpise to everyone, as it beat market expectation of 47.6. Overall, consumer confidence has rebounded back to approaching May confidence level. Take a look at below table:
The Case-Shiller house price valuation metrics has caught my attention lately. The graph shows that the house price is at 1999-2000 year level. Obviously, now is the best time to buy a house in US.
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