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#107 - Economic Data & Indicators: Jobs Report, Labor Report, Real GDP: Hey everyone and welcome back. This is Kirk here again from optionalpha.com. On today’s daily call, I want to talk about all the different economic data and indicators that are out there. In fact, not all of them, but I want to highlight some of...

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#107 - Economic Data & Indicators: Jobs Report, Labor Report, Real GDP: Hey everyone and welcome back. This is Kirk here again from optionalpha.com. On today’s daily call, I want to talk about all the different economic data and indicators that are out there. In fact, not all of them, but I want to highlight some of...

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Hey everyone and welcome back. This is Kirk here again from optionalpha.com. On today’s daily call, I want to talk about all the different economic data and indicators that are out there. In fact, not all of them, but I want to highlight some of them, maybe the top seven to eight or so that I think you should at least track or know about and be aware of during the month. Obviously, every single day, there's a lot of data that comes out about the economy, different sectors, different market reports come out and it can be overwhelming at some points, trying to understand exactly what’s going on, who's doing what, what sectors of the market are moving or not moving, contracting or expanding. And so, my goal in doing this podcast is just to maybe highlight some of the ones that you should be aware of. Now, I will be totally honest in saying that I don’t think you should necessarily track and chart and read every single report, but you should at least be aware of things when they come out. The way that I think about it is in the morning when I scan just headlines because my focus is purely on headlines for my trading purposes. When I see something come out, I want to know what it is. And so, if the producer price index comes out and there was expansion in prices, maybe that signals inflation at some point. Just having that understanding, that basic underlying understanding of where these reports are coming from, what they mean, what they could potentially mean in the future helps us just keep our head above water basically and make sure that we’re just looking out for the big things that are coming. If there’s a huge change in a jobs report or consumer prices or consumer confidence, that might be something that we want to be aware of. Again, it’s not to say that it’s going to always totally change our trading strategy for the week or the month, but we just need to be aware of it. We just need to have our head on a swivel. Again, my goal in doing this podcast today is just to let you guys know what I look at a little bit and at least the things that I just pay attention to more so than everything else. No particular order. I’m not going right on the top of the list obviously, but there’s a couple of things I think you should pay attention to. Number one is GDP. I think GDP is a big one. It’s basically this idea of everything that our market produces as far as goods and services on a national level and it measures just societal wealth. I think GDP that comes out from the Department of Commerce and Bureau and Economic Analysis or whatever it is, is a good representation of where the market’s going. It’s always a little bit lagged in some cases, so you might have GDP expand, but then they adjusted last month, so you want to pay attention to those adjustments as well. I think money supply is another big one although it’s not as important now because generally, money supply is growing exponentially with Fed continuing to print. Although now that we’re in potentially maybe an easing cycle and they may continue to ease or reduce the balance sheet, that may help reduce the impact of the money supply. Again, it's not something that I think that necessarily needs to be tracked every single day or week. You don’t need to change your schedule around to read the money supply report, but at least you should know what's going on and where the Fed policy is headed. Consumer price index and producer price index, so CPI and PPI I think are two really good ones. These are probably the first lines of inflation that we might see. If producer prices are starting to rise, so that’s all goods producing sectors like agriculture, forestry, fishing, mining, manufacturing. If we’re starting to see those prices go up and these are basically the inputs for most products, then consumer prices might be the next logical step. Now, consumer prices don’t track everything. They may take a sample of a couple of hundred different goods and services and then track that a
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