Agree that we had the worst decade after Y2K and now may become of best in our generation. It is unfortunately that many in Main Street had left Wall Street after the back to back tech and housing bubbles.
Jobs gain of 288K; UE rate down to 6.1%
June Nonfarm Payrolls: +288K vs. consensus +212K, +224K previous (revised from 217K).
Unemployment rate: 6.1% vs. 6.3% consensus, 6.3% previous.
" ... in order to return to pre-recession employment level ..." Those jobs between 9/11 and 2007 were mostly bogus jobs created to support the housing bubble built on liar loans.
And of course, many have chosen to retire rather than going from making $200K a year with a real estate sales license to $30K a year as Walmart greeters.
S&P hitting new all time highs many multiple days in June and continuing in July:
Released On 7/3/2014 8:30:00 AM For Jun, 2014
Prior Consensus Consensus Range
Nonfarm Payrolls - M/M change 217,000 211,000 199,000 to 290,000
Unemployment Rate - Level 6.3 % 6.3 % 6.2 % to 6.3 %
NEW YORK (TheStreet) -- GoPro Inc. (GPRO_) was jumping on Thursday, rising as much as 31% to $31.43, as investors scrambled to get a piece of the video-camera maker popular with zealots of surfing, skiiing and other sports.
Shares of the San Mateo, California-based company rose 28% to $30.73 after shares were prices at $24 and opened at $28. GoPro raised roughly $427 million in an offering that values the company at $3 billion.
GoPro is expected to use the proceeds from its initial public offering to cash out some existing investors and pay off its $120 million debt.
Founder Nick Woodman created the first GoPro from a point-and-shoot camera, a broken surfboard leash and a couple of rubber bands. Now GoPro is a $2.25 billion company and has sold 8.5 million cameras since launching its first camera 2009. It sold 3.8 million cameras in 2013 alone, according to a government filing.
It was a good game and could have gone either way.
Besides the rain, the referee calls have swayed the game too much. American couch potatoes will never tolerate the fuzzy calls.
You meant to work for the Chinese by taking on the risks of pipeline ruptures/sabotage, toxins from refinery and ultimately ship the goods to China?
Services PMI Flash Index sees sharpest rise in June since October 2009
June US Services PMI Flash Index: 61.2 vs. 58.1 in May.
New Business 61.6 vs. 58.7
Employment 55.4 vs. 51.7
Prices Changed 53.2 vs. 54.6
Business Expectations 75.9 vs. 79.3
Corporate Profits revised higher
Q1 Corporate Profits: +6.8% vs. 5.3% prior.
GDP contracted 2.9%
GDP Q1: -2.9% vs. -1.8% expected, -1.0% previous.
Money well spent:
Contractor Giving Soars 28% in Bid to Block Defense Cuts
By Jonathan D. Salant May 13, 2014
Top U.S. government contractors are ramping up their political giving before the congressional elections, seeking protection from sales-sapping budget cuts.
The 10 biggest contractors, including Lockheed Martin Corp. (LMT:US) and Northrop Grumman Corp. (NOC:US), boosted political action committee contributions by 29 percent in advance of the 2014 midterm congressional elections compared with 2012, according to Federal Election Commission filings compiled by Bloomberg.
Lawmakers elected on Nov. 4 will help decide the fate of automatic federal spending reductions, which were set at $1.2 trillion over a decade, after a two-year deal easing the cuts expires next year. The companies need Congress’s support because sales are being hurt as agencies tighten spending. Their strategy of pumping up profits through stock buybacks and cost-cutting might be difficult to maintain.
GoPro's IPO is on its way, with $427M of company stock estimated to be sold later this afternoon. The company shares will begin trading Thursday on the Nasdaq. Share price is estimated at $21 to $24, which would value the company at as much as $3.6B. GoPro's (GPRO) cameras were the number one selling camcorders nationwide by sales and units in 2013. Net profit rocketed 88% last year to $61M, and revenue soared 87% to $986M.
U.S. law will now allow some exports of ultra-light crude oil, after the government issued a permit to two companies to export condensate that could be turned into jet fuel or diesel. Pioneer Natural Resources (PXD) and Enterprise Products Partners (EPD) have been given clearance to export condensates, after a new approach redefined some light oil as fuel. The first shipments may begin as soon as August.
By Nina Glinski Jun 24, 2014 7:01 AM PT
The Conference Board’s index of U.S. consumer confidence increased to 85.2 in June from 82.2 a month earlier, the New York-based private research group said today.
The median projection in a Bloomberg survey of 70 economists called for a reading of 83.5 in June. Estimates ranged from 81 to 86.
Fastest pace of new home sales in six years
May's adjusted annual pace of 504K new home sales is the fastest print in six years. The number is 18.6% above April's pace and 16.9% higher than a year ago. The supply of new homes on the market at the current sales pace dropped to 4.5 months worth from 5.3 months in April.
Sales in the Northeast jumped to 34K from 22K in April, and those in the West to 130K from 97K.
Chicago Fed National Activity Index improves in May
May Chicago Fed National Activity Index: +0.21 vs. -0.15 prior (revised from -0.32)
Improvements were led by production-related indicators.
Existing Home Sales
May Existing Home Sales: 4.89M vs. consensus 4.75M, 4.66M previous (revised from 4.65M).
The median existing-home price for all housing types in May was $213,400.
US Manufacturing PMI points to strongest improvement since May 2010
June US Manufacturing PMI: 57.5 vs 56.5 consensus, 56.4 in May.
Output: 61 vs. 59.6 in May
New Orders: 61.7 vs. 58.8
Employment: 53.8 vs. 53.7
Illegal campaign funding is no joke. Reminds me of a book I read on a politician taking money to finance his POTUS run:
Sexton obeyed, tolerating the man's gruffness graciously. After all, this man represented men who controlled enormous sums of money, much of which had been pooled recently to poise Sedgewick Sexton on the threshold of the most powerful office in the world. These meetings, Sexton had come to understand, were less strategy sessions than they were monthly reminders of just how beholden the senator had become to his benefactors. These men were expecting a serious return on their investment. The "return," Sexton had to admit, was a shockingly bold demand; and yet, almost more incredibly, it was something that would be within Sexton's sphere of influence once he took the Oval Office.
Dan Brown (2011-02-09T01:44:33.187000+00:00). Deception Point (Kindle Locations 791-796). Kindle Edition.