Jobs jobs jobs. Construction spending up? all those new homes filling the vacancy left by (non) existing home sellers--personal income and factory orders? stagnant 5th year in a row as the unemployed 4% now working are in part time Micky D labor pool, so, why pay "real" workers more, hire more, or build inventory for people not paid enough to buy it! ADP 5 March numbers will anticipate 6-7 Mar continuing and non farm payroll numbahs, nofarm named when farms mattered 75 years ago. Should be more low numbers, more "it was too cold" excuses, only, will that continue to fly?
Ain't too certain. GLWT
Mar 3 8:30 AM Personal Income Jan - NA NA 0.0% -
Mar 3 8:30 AM Personal Spending Jan - NA NA 0.4% -
Mar 3 8:30 AM PCE Prices - Core Jan - NA NA 0.1% -
Mar 3 10:00 AM ISM Index Feb - NA NA 51.3 -
Mar 3 10:00 AM Construction Spending Jan - NA NA 0.1% -
Mar 3 2:00 PM Auto Sales Feb - NA NA 5.1M -
Mar 3 2:00 PM Truck Sales Feb - NA NA 7.0M -
Mar 5 7:00 AM MBA Mortgage Index 03/01 - NA NA -8.5% -
Mar 5 8:15 AM ADP Employment Change Feb - NA NA 175K -
Mar 5 10:00 AM ISM Services Feb - NA NA 54.0 -
Mar 5 10:30 AM Crude Inventories 03/01 - NA NA 0.068M -
Mar 5 2:00 PM Fed's Beige Book Mar - NA NA NA -
Mar 6 7:30 AM Challenger Job Cuts Feb - NA NA 47.3% -
Mar 6 8:30 AM Initial Claims 03/01 - NA NA NA -
Mar 6 8:30 AM Continuing Claims 02/22 - NA NA NA -
Mar 6 8:30 AM Productivity-Rev. Q4 - NA NA 3.2% -
Mar 6 8:30 AM Unit Labor Costs - Rev Q4 - NA NA -1.6% -
Mar 6 10:00 AM Factory Orders Jan - NA NA -1.5% -
Mar 6 10:30 AM Natural Gas Inventories 03/01 - NA NA NA -
Mar 7 8:30 AM Nonfarm Payrolls Feb - NA NA 113K -
Mar 7 8:30 AM Nonfarm Private Payrolls Feb - NA NA 142K -
Mar 7 8:30 AM Unemployment Rate Feb - NA NA 6.6% -
Mar 7 8:30 AM Hourly Earnings Feb - NA NA 0.2% -
Mar 7 8:30 AM Average Workweek Feb - NA NA 34.4 -
Mar 7 8:30 AM Trade Balance Jan - NA NA -$38.7B -
Mar 7 3:00 PM Consumer Credit Jan - NA NA $1
QUICK! Sell all your PM, 175K new jobs were created, and to make it even better, unemployment edges UP to 6.7%, putting more stimulatum on the table! Can you say perfect storm boys and goys?
I couldn't have said it better myself, if I was writing the releases by pulling them out of my #$%$. Look, 1970, 300K a reporting period new jobs was bristling good news. Now, double the population and double AGAIN for women in the workforce, 175K is a good number?
Oh well, it's buying time in equity towers again. Silver anyone, it's on sale.
Payrolls and pay takes the pre market--which has futures up slightly in anticipation of more on the payroll in can't win format. Runs like this--up smartly, the economy is recovering. Down? Baby it was cold outside.
Wonder what they'll use as an excuse April, or August? Too nice or hot to look for a job? Another predictable day, which has its merits.
Think the market will be climbing 5% every two months from now on? Think again.
But don't feel alone if you aren't thinking. So many aren't.
The winner is, Pukin trumps econoic numbahs! so adroitly, the 3% pop of two days ago, on the balk by Mr. Testosterone of the Russian front, overstepped the normal ascent by about three days worth of stockflation.
That includes ADP numbahs, 1/3 off the sentiment, about 130K jobs. This morning at 0830 EST for those of us counting, the Nofarm payrolls hit the fan.--the only saving grace, the 130K expected is so low, they may not have to drag out Baby it's Cold Outside excuses.
By the way, global warming, melts ice caps, and creates COLDER temperatures in its initial glimpses of the death spiral forming since the industrial retcholution. What happens when year after year, we get baby it's cold outside as an excuse? By year three, it's the way it is baby.
Maybe sentiment should change location from Minnisota to Alaska. How about Nome Depot for all you retailers? Who's manufacturing plastic igloos to build homes under, while heated by Herman Nelsons?
They don't think they'll be making them from silver this morning. Off a smidge while the market likes peace so much all other fundamentals are going in the twa-lett-o.
Will mtgs trump Pukin? We edge back to reality with ADP numbahs too. Make stocks not war makes markets soar and PM sore. I picked up cheap slv shares. Maybe I should add more Russell 2000 (IWM), I made 9 g's without a thought sbout the dead cat bounce.
No wonder they call it dumb money.
No eco news but Pukin says thanks for the 16B aid package. Bribery wins, markets up 1%, silver down 3/4%.
Pukins Uncle Stoly said his goog #1230 options look like ten bangers this morning, so the family gets to count a bunch of cash. Rattle the sword later, I'm placing put bets.
Blaming pre market sell off jitters on the fookin Russian ploy--you might as well blame spoiled milk in your refrigerator. Raft of numbers but my bet is day will improve on car sales. I'm not worried, I called my broker and told him Monday is too volatile to count, so I can't lose. Don't cry, you coud be sitting in he bathroom like Brad Pitt clutching your Oscar and whining "Gee I miss those #$%$". Don't expect housing to hit Summer 2006 levels however till 2025. That's more than 12 years a slave.
Can't miss PM this morning, they're up 1%. With 19-24 bucks the range look where you are. I guarentee there is more up there than down.
Snow missed NY but is going to pummel DC. See, sometimes random events coincide with karmic justice, just like today,s market plotz. Must be Gravity.