Will Markets Follow Through, Or Was Wednesday Just a Trap? [View article]
Good post. Employment numbers definitely play vital role in giving direction to market. The cheap liquidity is driving this rally. There cannot be a sustainable recovery without improvement in job scenario.
Aug. ADP Jobs Report:-10K vs. +13K expected and +37K prior (revised from +42K). "The decline in private employment in August confirms a pause in the recovery already evident in other economic data." [View news story]
Jul. Housing Starts:+1.7% to 546K vs. 550K expected and 537K (revised) last month. Permits -3.1% to 565K vs. and 587K (revised) last month. [View news story]
As already much inventory is pending, lower housing start should be fine.
The big drop in payrolls last month was a surprise but some analysts say that details such as hourly wages suggest the picture may be better than it looks.[View news story]
July ISM Non-Manufacturing Index:54.3 vs. 53.1 expected and 53.8 prior (>50 denotes expansion). Prices index fell to 52.7 from 53.8. Employment rose to 50.9 from 49.7. New orders rose to 56.7 from 54.4. [View news story]
July Challenger Job-Cut Report:41,676, up 6% from 39,358 prior. It's the third consecutive increase in job cuts, but downsizing activity remains at its lowest level since before the 2001 recession. "The trend in no way suggests a reversal of the significant slowdown in job-cut activity witnessed over the past year." [View news story]
Sad to see increasing job cuts. Jobs need to improve to help the recovery process.
Jul. ISM Manufacturing Index:55.5 vs. 54.7 consensus and 56.2 prior. Prices index 57.5 vs. 57 prior. Employment 58.6 vs. 57.8. Inventories 50.2 vs. 45.8. New orders 53.5 vs. 58.5. [View news story]
Life Insurance Is Still a Risky Business [View article]
Life Insurance companies have holdings in Real Estate firms. Many of the debt of these Real Estate firm due in 2010 to 2014 period. So any difficulty in getting refinancing can impact life insurance companies too which have exposure to them.
Will Markets Follow Through, Or Was Wednesday Just a Trap? [View article]
Aug. ADP Jobs Report: -10K vs. +13K expected and +37K prior (revised from +42K). "The decline in private employment in August confirms a pause in the recovery already evident in other economic data." [View news story]
Don't Feel Obligated to Play This Market [View article]
Jun. S&P Case-Shiller Home Price Index: +1.0% M/M vs. +1.3% prior. +4.2% Y/Y vs. +3.9% expected, +4.6% prior. [View news story]
Today in Commodities: M&A Can't Bring Enough Heat [View article]
Initial Jobless Claims: -31K to 473K vs. 490K consensus. Continuing claims -62K to 4,456,000. [View news story]
Jul. Housing Starts: +1.7% to 546K vs. 550K expected and 537K (revised) last month. Permits -3.1% to 565K vs. and 587K (revised) last month. [View news story]
The big drop in payrolls last month was a surprise but some analysts say that details such as hourly wages suggest the picture may be better than it looks. [View news story]
Truth is always bitter !!!!
July ISM Non-Manufacturing Index: 54.3 vs. 53.1 expected and 53.8 prior (>50 denotes expansion). Prices index fell to 52.7 from 53.8. Employment rose to 50.9 from 49.7. New orders rose to 56.7 from 54.4. [View news story]
July Challenger Job-Cut Report: 41,676, up 6% from 39,358 prior. It's the third consecutive increase in job cuts, but downsizing activity remains at its lowest level since before the 2001 recession. "The trend in no way suggests a reversal of the significant slowdown in job-cut activity witnessed over the past year." [View news story]
MBA Mortgage Applications: +1.3% vs. -4.4% last week. Thirty-year fixed mortgage rate decreased to 4.60% from 4.69%. [View news story]
Jul. ISM Manufacturing Index: 55.5 vs. 54.7 consensus and 56.2 prior. Prices index 57.5 vs. 57 prior. Employment 58.6 vs. 57.8. Inventories 50.2 vs. 45.8. New orders 53.5 vs. 58.5. [View news story]
Q2 GDP, advance estimate: +2.4% vs. +2.5% expected, +2.7% previous. Chain-weighted price index +1.8% vs. +1% expected, +1.1% prior. [View news story]
Initial Jobless Claims: -11K to 457K vs. 460K consensus. Continuing claims +81K to 4,565,000. [View news story]
Life Insurance Is Still a Risky Business [View article]