12-16 May '13 Economic Calendar: Half of America has missed the rally
Quiet week, so anal-ysts are drumming up business by pointing out 1/2 remain on the sidelines--that's folks, not money. It's more like a 20% impact--but it is 20%. Thursday jobless claims is the big elephant in the room. Go away in May has not happened yet, and duration will be shorter than most imho.
12 May Monday 8:30 a.m. retail sales. 10 a.m. business inventories
13 May Tuesday 7:30 a.m. National Federation of Independent Business survey. 8:30 a.m. import prices
14 May Wednesday 8:30 a.m. Producer Price Index and Empire State survey. 9 a.m. Treasury International Capital data. 9:15 a.m. industrial production. 10 a.m. National Association of Home Builders survey
15 May Thursday 8:30 a.m. initial jobless claims, Consumer Price Index, housing starts. 10 a.m. Philadelphia Fed 12:30 p.m. Fed Gov. Sarah Raskin on economy
16 May Friday 9:55 a.m. consumer sentiment. 10 a.m. leading indicators
As dollars improve (33% to date) imports deflate (another 1%) the world's original economic juggernaut, the US, however built on fabricated money, the set up is for US to resurge as the world's drunken sailor with a year's advance pay in its pocket. 95 dollar oil looks cheap where $70 had US cringing 2007. This doesn't look good to investing lemmings looking for bright shiny equity objects and moving past silver and gold to the next fad, a fabricated market. How long can this last? Until we remember Bernanke leaves in January.
Silver in the teens would mark a capitulative event. Ooofff!!!!!!!!!
Yo YDM better than expected retail consumer numbers in spite of the gasoline sell down, so inflation at the core is heating up, gave credence to the WSJ article touting the Fed planning to stop the bond buying sooner rather than later--surprised market was dead even today--the good retail numbers should have blasted us forward, became a countervailing force against the WSJ planning article.
I think the market barreling forward days are fast becoming history.
I really do not think the retail numbers are that great given 70 plus % of our economy is consumption and we are in an economic recovery? The federal reserve trying to stimulate consumption with their monetary policies and economists fail to realize consumption consumes weath shrinking the economy. It is excess wealth that is re-invested in wealth building activities that grows the economy.