July ISM Non-Manufacturing Index: 52.6 vs. 52.0 expected and 52.1 prior (>50 denotes expansion). Prices index rose to 54.9 from 48.9. Employment fell to 49.3 from 52.3. New orders rose to 54.3 from 53.3. [View news story]
Where are the super conservatives with the negative comments....
The headline unemployment rate is one of the few numbers you shouldn't pay attention to, says economist Jason Schenker. The labor force participation rate is a more important stat, and while it fell a hair this month, it is flattening out. Also, there's BLS rounding. Moving out a couple of decimal spots, UE increased to 8.2535% from 8.2165%. From this, we're going to get a day of political headlines? [View news story]
Montana,,,,,and just where do you get the truthful figure? Is it available to only you or can anyone get it. If it is doctored, do you think your radical conservative friends wouldn't do the same thing if they could? Every political group highlights that part of the story that best serves their needs. You guys would claim a turd is gold if were in the shape of an Elephant. The actual truth probably lies somewhere between your idiotic ultra conservative views and and the equally insane ultra liberal views. I claim to be a moderate Republican; and , from my seat I'll have to say you ultra conservatives do the most whinning.
German manufacturing PMI dropped to 43.0 in July from 45.0 in June, reaching its lowest level since June 2009. "Manufacturers linked the latest setback to shrinking export sales and a general shortage of new work to replace completed projects... job shedding was the most marked since the start of 2010." (PR .pdf) [View news story]
"German manufacturing PMI dropped................. Manufacturers linked the latest setback to shrinking export sales and a general shortage of new work to replace completed projects...".
Dear Germany; you are going to pay one way or another. So, which is? Common Euro bonds or more austerity for everyone else and more declining exports!
As corn prices explode in the face of the worst drought in over a half century, ethanol, once touted as the homegrown, eco-friendly replacement for foreign oil, is fast becoming the new product everyone loves to hate. The fact is however, we've come to rely on the corn-based fuel's high octane level as a boost to the sub-grade gasoline currently being churned out of our nation's refineries. The crisis leaves us with two tough choices: higher gas prices, or higher food prices. [View news story]
As corn prices explode in the face of the worst drought in over a half century, ethanol, once touted as the homegrown, eco-friendly replacement for foreign oil, is fast becoming the new product everyone loves to hate. The fact is however, we've come to rely on the corn-based fuel's high octane level as a boost to the sub-grade gasoline currently being churned out of our nation's refineries. The crisis leaves us with two tough choices: higher gas prices, or higher food prices. [View news story]
I don't think it was rammed down our throats by eco-idiots. I think it was rammed down our throats by someone wanting to make big piles of money. Archer Daniels Midland comes to mind.
Financial markets are telling to us to focus on jobs, not deficits, Paul Krugman writes: "Investors are all dressed up with... no place to put their money. So they're buying government debt, even at very low returns... By making money available so cheaply, they are in effect begging governments to issue more debt. And governments should be granting their wish, not obsessing over short-term deficits.” [View news story]
Refinancing or remodeling ones home at these low rates isn't a good idea either?
"Our sense is that Apple’s management spent more time discussing macro pressures than in any other quarter over the past decade" save for Q3 '08, says Goldman's Bill Shope. Shope was also bothered by the magnitude of the iPhone slowdown (affected by inventory shifts) and Apple's gross margin drop, though he thinks margins will recover in the iPhone-heavy December quarter. He lowers his PT to $790 while maintaining a Buy. AAPL -4.7%. (more) [View news story]
The iPhone is expensive. With reduced subsidies from carriers sales may suffer if there is a really good Android alternative. May be why Apple is fighting the Galaxy SIII so hard.
Moody's has lowered its outlook on Germany, The Netherlands, and Luxembourg to Negative, while affirming Finland's Stable outlook and AAA credit rating. The ratings agency cites the usual fears related to the eurozone's debt crisis, along with the "increasing likelihood that greater collective support" will be needed for Spain and Italy. Moody's downgraded Italy's rating by two notches earlier this month, and subsequently downgraded 10 Italian banks. [View news story]
looks like the old stitch in timeSaves nine. Europe should have fixed the crisis right the first time
Spain's three-month short-sale ban - following a similar ban in Italy on shorting financials - shows the countries succumbing to a "Siren song," Steve Goldstein says: almost irresistible, despite the damage to come. Beyond the quick gain, the drop in liquidity isn't worth it - and it's not shorting that's at fault, it's Europe's debt crisis. "That said, even a doctor facing an incurable cancer must obey the Hippocratic oath: First, do no harm." [View news story]
sbrunton......I totally share and agree with your opinion on short selling.
Changing the corporate tax rate is something that lawmakers and big business both agree on. However, when manufacturers went before a House panel today to discuss the issue, the exercise exposed just how difficult its going to be finding a way to pay for changes. One example: 3M (MMM -0.3%) stated it could live without a deduction for manufacturers and an R&D credit if it paid a 25% rate. Ford (F +0.5%) however disagrees, noting the automaker benefits from both of those incentives. [View news story]
If you're in the shape the US is in at the moment. if you are going to spend more money you have to find a way to replace it. If you are going to reduce revenue you have to replace that revenue or cut an equal amount of spending. Debits gotta equal credits. How many times we going to try trickle down economics before we decide that doesn't work either.
True to his nature, uber-bear Marc Faber warns - once again - of "massive wealth destruction" coming. Most markets appear to have peaked in May, 2011, Faber says, and predicts a new crash will come before Bernanke leaves office in 2014. The crash will hit on such a scale where, over the long term, the super-rich stand to lose up to 50% of their total wealth. Why, you ask? Because the Fed prints money endlessly, and Bernanke's totally clueless about the fact that he's clueless. [View news story]
I mean this to be totally unbiased take it either way you want. Opinions are likes A**holes everyone has one,,,,now believe which ever A**hole you want. Unfortunately, any speculation about the future is just that.....Speculation. My recommendation is, be prepard for either. Now if I were only good at following my own advice.
Consumers will see extra charges when they use plastic as a byproduct of the massive settlement between retailers and credit card companies. Merchants have wider authority to add a surcharge for credit card transactions as part of the historic deal. Premarket: V +3.2%, MA +4.1%, AXP +0.4%. [View news story]
Today I rarely carry much cash. I will go back to cash before I pay 1 to 2% as a transaction fee. I haven't tried the new cell phone based payment setups yet either. I maybe wrong, but I think those retailers that charge the fee will lose business. I will avoid those retailers when possible just because.
The fee change is for credit cards and not debit cards. I use a credit card or use my debit card as a credit card to get the consumer protection benefits of a credit card transaction. If businesses I deal with begin to charge a transaction fee for credit card use I will first attempt to do business at businesses that do not charge a fee purely as a matter of principle. If trhat doesn't work I'll just use me debit card as a debit card.
As if Gartner and IDC's data wasn't enough, Acer (ASIYF.PK) is providing more reason to be worried about PC demand. The Taiwanese OEM is slashing its 2012 PC shipment growth forecast to 5% from 10%, citing macro concerns and a more cautious stance on Windows 8's (MSFT) adoption. An Acer spokesman adds the iPad's popularity has made distributors more cautious about building up Windows 8 hardware inventory. There are already concerns PC demand will weaken ahead of the OS' launch. [View news story]
I may no be your typical customer; but, since I started reading about Windows 8 a couple of months ago, I made the decision I would not replace my aging PC until the new Windows OS is on it. I might even wait to make sure it's not another Vista!
If Stimulus Works, How Come We Need More Of It? [View article]
July ISM Non-Manufacturing Index: 52.6 vs. 52.0 expected and 52.1 prior (>50 denotes expansion). Prices index rose to 54.9 from 48.9. Employment fell to 49.3 from 52.3. New orders rose to 54.3 from 53.3. [View news story]
The headline unemployment rate is one of the few numbers you shouldn't pay attention to, says economist Jason Schenker. The labor force participation rate is a more important stat, and while it fell a hair this month, it is flattening out. Also, there's BLS rounding. Moving out a couple of decimal spots, UE increased to 8.2535% from 8.2165%. From this, we're going to get a day of political headlines? [View news story]
German manufacturing PMI dropped to 43.0 in July from 45.0 in June, reaching its lowest level since June 2009. "Manufacturers linked the latest setback to shrinking export sales and a general shortage of new work to replace completed projects... job shedding was the most marked since the start of 2010." (PR .pdf) [View news story]
Dear Germany; you are going to pay one way or another. So, which is? Common Euro bonds or more austerity for everyone else and more declining exports!
As corn prices explode in the face of the worst drought in over a half century, ethanol, once touted as the homegrown, eco-friendly replacement for foreign oil, is fast becoming the new product everyone loves to hate. The fact is however, we've come to rely on the corn-based fuel's high octane level as a boost to the sub-grade gasoline currently being churned out of our nation's refineries. The crisis leaves us with two tough choices: higher gas prices, or higher food prices. [View news story]
As corn prices explode in the face of the worst drought in over a half century, ethanol, once touted as the homegrown, eco-friendly replacement for foreign oil, is fast becoming the new product everyone loves to hate. The fact is however, we've come to rely on the corn-based fuel's high octane level as a boost to the sub-grade gasoline currently being churned out of our nation's refineries. The crisis leaves us with two tough choices: higher gas prices, or higher food prices. [View news story]
Financial markets are telling to us to focus on jobs, not deficits, Paul Krugman writes: "Investors are all dressed up with... no place to put their money. So they're buying government debt, even at very low returns... By making money available so cheaply, they are in effect begging governments to issue more debt. And governments should be granting their wish, not obsessing over short-term deficits.” [View news story]
"Our sense is that Apple’s management spent more time discussing macro pressures than in any other quarter over the past decade" save for Q3 '08, says Goldman's Bill Shope. Shope was also bothered by the magnitude of the iPhone slowdown (affected by inventory shifts) and Apple's gross margin drop, though he thinks margins will recover in the iPhone-heavy December quarter. He lowers his PT to $790 while maintaining a Buy. AAPL -4.7%. (more) [View news story]
Moody's has lowered its outlook on Germany, The Netherlands, and Luxembourg to Negative, while affirming Finland's Stable outlook and AAA credit rating. The ratings agency cites the usual fears related to the eurozone's debt crisis, along with the "increasing likelihood that greater collective support" will be needed for Spain and Italy. Moody's downgraded Italy's rating by two notches earlier this month, and subsequently downgraded 10 Italian banks. [View news story]
the crisis right the first time
Spain's three-month short-sale ban - following a similar ban in Italy on shorting financials - shows the countries succumbing to a "Siren song," Steve Goldstein says: almost irresistible, despite the damage to come. Beyond the quick gain, the drop in liquidity isn't worth it - and it's not shorting that's at fault, it's Europe's debt crisis. "That said, even a doctor facing an incurable cancer must obey the Hippocratic oath: First, do no harm." [View news story]
Changing the corporate tax rate is something that lawmakers and big business both agree on. However, when manufacturers went before a House panel today to discuss the issue, the exercise exposed just how difficult its going to be finding a way to pay for changes. One example: 3M (MMM -0.3%) stated it could live without a deduction for manufacturers and an R&D credit if it paid a 25% rate. Ford (F +0.5%) however disagrees, noting the automaker benefits from both of those incentives. [View news story]
True to his nature, uber-bear Marc Faber warns - once again - of "massive wealth destruction" coming. Most markets appear to have peaked in May, 2011, Faber says, and predicts a new crash will come before Bernanke leaves office in 2014. The crash will hit on such a scale where, over the long term, the super-rich stand to lose up to 50% of their total wealth. Why, you ask? Because the Fed prints money endlessly, and Bernanke's totally clueless about the fact that he's clueless. [View news story]
Consumers will see extra charges when they use plastic as a byproduct of the massive settlement between retailers and credit card companies. Merchants have wider authority to add a surcharge for credit card transactions as part of the historic deal. Premarket: V +3.2%, MA +4.1%, AXP +0.4%. [View news story]
Merchants (in a class of seven million) reach a "historic" $7.25B settlement with Visa (V) and MasterCard (MA) over transaction fees, in an agreement that also involves card issuers including JPM, BAC, C, WFC and COF. [View news story]
As if Gartner and IDC's data wasn't enough, Acer (ASIYF.PK) is providing more reason to be worried about PC demand. The Taiwanese OEM is slashing its 2012 PC shipment growth forecast to 5% from 10%, citing macro concerns and a more cautious stance on Windows 8's (MSFT) adoption. An Acer spokesman adds the iPad's popularity has made distributors more cautious about building up Windows 8 hardware inventory. There are already concerns PC demand will weaken ahead of the OS' launch. [View news story]