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Economic data for the day

By admin, on June 17th, 2010%

How does any reliable economist get out there and make a growth prediction.  Once again this morning we receive news that no one is hiring.  Jobless claims came in at 472K over the 450K concensus and +12K from last week.  Continuing claims also sucked as they were +88K to a total of 4,571,000 on unemployment insurance. 

Other . . . → Read More: Economic data for the day

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$3.6 billion out of domestic equitiy mutual funds last week

By admin, on June 16th, 2010%

ICI released their weekly fund flows today and here is a whopping surprise.  Funds again left domestic equitites. 

Source ICI

Equity funds had estimated outflows of $2.88 billion for the week, compared to estimated outflows of $658 million in the previous week. Domestic equity funds had estimated outflows of $3.66 billion, while estimated inflows to foreign equity funds . . . → Read More: $3.6 billion out of domestic equitiy mutual funds last week

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Morning economic data

By admin, on June 16th, 2010%

Reports released already are putting pressure on the S&P futures.  It amazes me how one day we don’t care and the next day it’s all about the data.  Anyway here is what we have so far:

PPI – was (-.30%) vs (-.20%) expected.  Core PPI was up .20% and versus the expectation of .10% for core.

Housing still bad as . . . → Read More: Morning economic data

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Retail Sales down in May

By admin, on June 11th, 2010%

Don’t look now, but retail sales just got hammered.  To everyone who is saying this is just a pullback in the market then they are missing the signs.  Are we due for a bounce yes, but this kind of economic data argues against the “corporate profits” increases everyone has been discussing.

A quick look at the numbers:

Total . . . → Read More: Retail Sales down in May

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Private sector jobs not appearing

By admin, on June 4th, 2010%

Well the jobs report is out and it appears you were only able to get a new job last month if you you work for the census.  The private sector added only 41K jobs in May. 

Total nonfarm payroll employment grew by 431,000 in May, reflecting
the hiring of 411,000 temporary employees to work on Census 2010, the
U.S. . . . → Read More: Private sector jobs not appearing

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Job creation up, but less than expected

By Don, on April 2nd, 2010%

The jobs report came out earlier and according to the Bureau of Labor Statistics 162,000 jobs were added last month.  This is shy of the 200,000 expected by the market, but it is an increase.  We have settled in at around 129.6 million workers since October of last year.

Of the jobs added 39K were from increased . . . → Read More: Job creation up, but less than expected

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S&P 500 Breaks out

By Don, on November 18th, 2009%

Well no one likes to be wrong, but it looks like I was when I called for a double top last week.  The S&P 500 broke thru the 1100 level to close at 1109 and then held the 1100 level yesterday.  This should give us another leg up until we run into resistance at about 1150 . . . → Read More: S&P 500 Breaks out

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Good economic indicators?

By Don, on September 15th, 2009%

Well the next in line of a string of good news lately is that Retail sales were up for August, PPI was up in August, and the Empire State Manufacturing survey was up in August.

Here is a rundown of today’s stats.

Retail sales up 2.7%
PPI up 1.7%
Empire State Manuf. Survey +18.9 up from +12.1

These are numbers up . . . → Read More: Good economic indicators?

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