I love technology, or, more specifically, I love the wireless world we live in. As I write, I am on the road to northern California. No, I am not driving, but that would be pretty cool if I were. Maybe that reality is not too far away. Ah …, but I dream of the future …
The present, at times, is not nearly as fascinating, but, make no mistake, it is fascinating. The more I write about the areas I am researching – smart devices and the myriad ramifications of that and the epochal energy transformation – the more fascinated I become. My fascination with technology and energy aside, I still have a job to do. The good news is that I am done for today. I made a trade this morning that pays for this trip to northern California.
The market is as I thought it would be today – modestly up or modestly down. This is the current mindset of the market and I see nothing in the near term that will change it.
- The Conference Board reported that their Leading Economic Index [LEI] rose +0.2% in October, which was above the consensus for a reading of +0.0% and well below last month’s reading of +0.7%.
- The final reading for the University of Michigan’s Consumer Sentiment Index for November was reported at 75.1, which was well above the preliminary reading of 72.0 and also above last month’s final reading of 73.2.
- The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, offering signs of a steady improvement in the labor market.
- A gauge of planned U.S. business spending on capital goods unexpectedly fell in October and new orders for long-lasting manufactured goods were down, pointing to a loss of momentum in factory activity.
The last item in the series of data points above seems bad, but it really means nothing. Although all but the LEI are lagging indicators, the factory data is the laggiest, if that is a word. How about “the most laggy?” No, that does not work either. How about, it is the least important of the above data points because factory activity follows US consumer spending and employment and consumer confidence precede that. It is cyclical. As well, the Leading Economic Indicator Index is built upon current data and it is pointing to a brighter economic future.
- “The modest rise in the Leading Economic Index in October follows the strong advances recorded in the prior two months, which helps lift the six-month annualized growth rate to 5.1 percent from 3.7 percent in the previous six months,” said Kathy Bostjancic, Director of Macroeconomic Analysis at The Conference Board. “The recent increase in the index supports our forecast that the U.S. economy is poised to grow somewhat faster at 2.3 in 2014 compared to 1.6 percent in 2013.
Enough about the economics that drive the modesty of the market. Let’s look at more data about our developing wireless world and what that means for the market.
- Motorola Mobile unit has inked a deal with 3D printing company 3D Systems to serve as its hardware partner for Project Ara, Motorola’s plan to create modular smartphones.
- 3D Systems confirmed the multi-year partnership and said it is working with Motorola to “create a continuous high-speed 3D printing production platform and fulfillment system” for Project Ara. “Project Ara was conceived to build a platform that empowers consumers all over the world with customization for a product made by and for the individual,” 3D Systems CEO Avi Reichental said in a statement.
The idea of customizable smart phones is not new, nor has it proved successful as of yet, but that is not to say it won’t be successful. I don’t know what it might mean for the consumer or the market, but what I do know is the smart device reality continues to morph into market opportunity every which way I look.More on this coming after my relaxing days off.
Happy Thanksgiving to all.
Trade in the day; Invest in your life …
