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Papaswamp

Papaswamp
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  • Finally, An Encouraging Jobs Report [View article]
    I'm sort of surprised the market didn't jump 200. If you take away yesterdays down turn we are only up, what 40pts?

    Think investors know this is temporary (like the jobs that increased).

    What makes me scratch my head is payroll take in by the govt continues to fall. This suggests more people (more than 11,000) lost jobs.

    But I'm no expert.
    Dec 4, 2009. 10:35 AM | 8 Likes Like |Link to Comment
  • A surprising nonfarm payrolls number, with unemployment dropping to 10%, spurs markets in Europe and futures in the U.S.: Benchmark S&P futures +1.2%, Dow futures +1.1%, Nasdaq +1.1%. Factory orders coming up at 10:00.  [View news story]
    Wonder how long the temp jobs number will stay up? This just a Holiday season hike or something more?
    Dec 4, 2009. 09:38 AM | Likes Like |Link to Comment
  • Nov. Nonfarm Payrolls: -11K vs. -125K expected, -111K in October (revised from -190K). Unemployment 10% vs. 10.2% expected and prior. Avg. hourly earnings $18.74 vs. $18.72 prior. Overall workweek 33.2 hours vs. 33 prior.  [View news story]
    How the heck did they get that number?
    Dec 4, 2009. 08:31 AM | 3 Likes Like |Link to Comment
  • Bank of America (BAC) priced its common equivalent securities at $15 to draw gross proceeds of $19.29B, exceeding the $18.8B it named as part of its plan to repay TARP. (PR)  [View news story]
    What's with all the dang spamming all of a sudden?
    Dec 3, 2009. 08:39 PM | Likes Like |Link to Comment
  • Survey: Just 21% of Americans Back Bernanke [View article]
    Wow I think that is worse than Congress at 27% approval.
    Dec 3, 2009. 08:35 PM | 4 Likes Like |Link to Comment
  • A Half-Empty Recovery for U.S. Jobs [View article]
    I wonder how many times one has to say..."it was a short week" before people understand that +400,000 initial filings on a short week is huge.

    +240,000 to the emergency extended benefits...signals NO job growth.
    Dec 3, 2009. 12:33 PM | 1 Like Like |Link to Comment
  • Initial Claims for Unemployment Fall Again [View article]
    It was a short week...the UE offices were closed for 2 days in some places. SO +400,000 filing in just 3 days is disastrous!

    Extended emergency benefits are 3 MILLION higher than last year.

    How is any of this better news?

    The mammoth only sank 4 inches this week instead of 5 is somehow better?
    You lost $500 the week before but only lost $400 this past week is better?

    There is NO job creation.
    Dec 3, 2009. 11:06 AM | 2 Likes Like |Link to Comment
  • November Same Store Sales Generally Weak [View article]
    "...so even though sales are down, less aggressive discounting could help margins improve."

    Less aggressive discounting? Where did you get that from? There has been MORE aggressive discounting this year than last.

    This is what I read:
    "...retailers are responding the way they did last holiday season — with ultra-steep discounts early on. The price war that Wal-Mart is waging against Amazon may stretch consumers’ dollars, but it’s hell on other retailers, who must either match discounts or risk losing customers. Already, 2009 is shaping up to be a repeat of 2008, when retailers desperately slashed prices to entice wary consumers."

    www.mutualfundsmag.us/...
    Dec 3, 2009. 10:45 AM | 1 Like Like |Link to Comment
  • Nov. ISM Non-Manufacturing Index: 48.7 vs. 51.5 expected and 50.6 prior (<50 denotes contraction). Decline was led by a drop in the Business index, which fell to 49.6 from 55.2 in October. Prices index rose to 57.8 from 53. Employment rose to 41.6 from 41.  [View news story]
    As homer says..."Dooooop!"

    Market will probably shake it off by lunch time if not sooner.
    Dec 3, 2009. 10:03 AM | Likes Like |Link to Comment
  • Bracing for Friday's Jobs Report [View article]
    Unemployment number totals:

    Continuing : 4,787,291, vs. last year 3,652,990
    Extended Federal Program: 597,688 vs. 33,125 last year
    EUC 2008: 3,859,553 vs. 777,393 last year.

    Totals continuing and extended: 9,244,532 vs. 4,463,508.

    hat tip to irishscot2 on MW
    Dec 3, 2009. 09:24 AM | Likes Like |Link to Comment
  • Initial Jobless Claims: -5K to 457K vs. 485K expected. Continuing claims +28K to 5,465,000.  [View news story]
    Remember folks...it was a much shorter week (by 2 days!!!)

    the EUC (extended emergency beneis) number jumped by 265,300 to 3,859,553!!!

    Yikes.
    Dec 3, 2009. 09:00 AM | 2 Likes Like |Link to Comment
  • Bracing for Friday's Jobs Report [View article]
    With a huge number of same store sales down, don't expect much hiring. Companies won't hire if no one is going to the store.

    Plus remember it was a much shorter week.
    Dec 3, 2009. 08:51 AM | 2 Likes Like |Link to Comment
  • SAIC Motor, China's top automaker, and GM are reportedly close to an agreement on a 50-50 JV to produce and sell vehicles in India. GM will also sell a 1% stake in its Chinese passenger-car venture to SAIC for $84.5M, a source says.  [View news story]
    Extremely smart move by GM to start to get out of the US market for the next big consumer based economy.
    Dec 3, 2009. 08:30 AM | Likes Like |Link to Comment
  • Nov. same-store sales (actual vs. Briefing.com estimate), update #1:
    ARO +7% vs. +10%.
    APP -11% vs. -3%.
    BKE +1.4% vs. +4%.
    BONT -6% vs. +1%.
    COST +6% vs. +8.2%.
    HOTT -11.7% vs. -7.9%.
    LTD +3% vs. -2.3%.
    PLCE -13% vs. +0.8%.
    SMRT -7.2% vs. -6.5%.
    SSI -12.5% vs. -5.3%.
    ZUMZ -8.5% vs. -8.1%.
    10 misses, 1 beat.  [View news story]
    Dillards same store sales down 11%
    Gap same store sales: flat
    American Eagle same store sales: down 2%
    Macy's same store sales: down 6.1%
    Abercrombie & Fitch same-store sales down 17%

    Yea the economy is recovering...
    Dec 3, 2009. 08:08 AM | 2 Likes Like |Link to Comment
  • From Fred's (FRED) same-store sales release: "More than in past years, consumers seem to be delaying purchase decisions until later into the season. As Christmas nears, our stores are well stocked..."  [View news story]
    Think they are delaying or just not going to buy?

    I have heard a huge number of families (still employed) state they are not giving gifts this year (adults). Of course those unemployed will either be extremely frugal or not show up at all.
    Dec 3, 2009. 08:00 AM | 2 Likes Like |Link to Comment
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