Consensus expectations are for a DECLINE from 1.2% to 0.5%
And con. expectations are for Thursdays job numbers to show a major spike UP in unemployment from 520K to 560K.
From Econoday - "Market Consensus Before Announcement Initial jobless claims fell a sharp 47,000 to 522,000 in the July 11 week. The four-week average is down 22,500 to 584,500. Continuing claims really plunged, dropping by 642,000 to 6.273 million. But the Labor Department warned that results for both initial and continuing claims were affected by prior layoffs in the manufacturing sector, layoffs that are largely seasonal and that happened earlier than usual this year. If not this week, we are likely to see a technical reversal and worsening later this summer."
The there Dick BOve - the grandaddy of the financials rally - now he says this weeks bank earnings will come in ugly.IN fact he said the only bank with real earnings is - take a guess - GS! Which ain't a bank.He even dissed JPM.