It has been hard to replace the millions of phony jobs (real estate agents, liar loan pushers, countrywide office clerks, CDO/CDS marketeers, carpenters building in boondock sites, caterers to all the above ...
who have done nothing on infrastructure job bill while threatening to shut down government by Christmas, again.
Dow +1.23% to 16,472.70. S&P +1.43% to 1,951.10. Nasdaq +1.74% to 4,707.20.
Treasurys: 30-year +0.67%. 10-yr +0.46%. 5-yr +0.37%.
Commodities: Crude +2.17% to $45.71. Gold +2.15% to $1,137.70.
Currencies: Euro +0.08% vs. dollar. Yen +0.11%. Pound -0.32%.
You must have misread the job message. It was +142K jobs added, not -142 jobs. The forecasting PhD economists all have egg on their faces by not counting the job cuts by Meg, Caterpillar, banks, mining, oil and gas companies. Blame those job creators who stopped investing in America other than M&A/dividend/sharebuybacks while the obstructionists are sitting on the infrastructure bill for years allowing the bridges to crumble and utility leakages.
and bad revision as well:
Big miss for jobs numbers
September Nonfarm Payrolls: +142K vs. consensus +203K, +136K previous (revised from 173K).
Unemployment rate: 5.1% vs. 5.1% consensus, 5.1% previous
Big layoff announced by HP, Caterpillar, big and small oil/gas and BofA are the headwinds:
Initial Jobless Claims rise 10K to 277K
Initial Jobless Claims: +10K to 277K vs. 272K consensus, 267K prior.
Continuing Claims -53K to 2.19M vs. 2.24M prior.
No long-term future in tar sands, Alberta's premier says
Alberta premier Notley says she sees no long-term future in fossil fuels, and vows to fight climate change by cleaning up the tar sands, shutting down coal-fired power plants, and converting to wind and solar power.
The leader of the province that sits atop the world’s third-biggest known carbon reserves in the tar sands and has ramped up production to ~2M bbl/day of crude is expected to unveil new targets for reducing greenhouse gas emissions later this fall.
At the same time, Notley says she is not opposed to most of Alberta's proposed pipeline projects; she supports TransCanada's (TRP +1.5%) Energy East because she says it helps create value from Alberta crude, but she opposes Keystone XL because it would keep Alberta too focused on the U.S. market.
She says Kinder Morgan (KMI +3.5%) should consider shifting its Trans Mountain pipeline to a different port in British Columbia to win over opponents to the line’s expansion
U.S. economy added 200K private jobs even as manufacturing (energy especially) down 15K
Sept. ADP Jobs Report: +200K vs. 190K consensus, 186K (revised from 190K) prior.
Service sector added 188K jobs.
expect a tad under 200K jobs and Friday's UE should be about the same.
Low gas price is finally helping consumers to spend more on discretionary at the mall. Net job data is held back by energy related businesses that have been laying off people, reducing cap investments and cutting contracting work.
Heinlein, All books by Lewis were good easy reads from his first Liars Poker to Flash Boys.
Interesting story teller.
I agree with you that Trump's plan is better than Jed's or Paul Ryan's. Unfortunately, special interests would never allow their politicians to eliminate their hard fought/bought precious tax exemptions..
If we leave all social issues to religion, miscegenating might still be punishable by hanging ... just as so in some fanatic religious states like Saudi and parts of India.
Laughing out loud. What says you to the millions of couples who married inside the court houses, only requirement was doctors signing off their health to marry in some states?
Cheaper gas trumps China worries:
Sep Consumer Confidence: 103.0 vs. 96.0 consensus; 101.3 (revised) in Aug.
The present situation index at 121.1 from 115.8 (revised) in Aug.
The expectations index declined to 91.0 from 91.6 (revised) in Aug.
“Consumers’ more positive assessment of current conditions fueled this month’s increase".
Redbook Chain Store Sales
Redbook Chain Store Sales: +0.9% Y/Y vs. +0.9% last week.
S&P Case-Shiller Home Price Index
July S&P Case-Shiller Home Price Index: -0.2% M/M vs. +0.1% expected, -0.2% (revised) prior.
+5% Y/Y (N.S.A) vs. +5.3% expected, +4.9 (revised) prior.
for those who were hoping their company shares would recover. They should sell when crooks like them sold near 52 week lows last Monday. Question is would shares recovery near split :
Sep 21, 2015 LESJAK CATHERINE AOfficer 23,266 Indirect Automatic Sale at $26.23 per share. 610,267
Sep 21, 2015 FINK MARTINOfficer 30,235 Direct Automatic Sale at $26.25 per share. 793,668
Sep 21, 2015 YOUNGJOHNS ROBERTOfficer 8,375 Direct Automatic Sale at $26.25 per share. 219,843
Sep 21, 2015 LESJAK CATHERINE AOfficer 200,000 Direct Automatic Sale at $26.35 per share. 5,270,00
That's not good for the average workers. It is unfortunately that it is never more true now than when Boehner was in at the helm:
You can't negotiate with tea baggers, like trying to catch water with a fork, chop stickers, tongs, mesh drain strainer, flour sieve, colander ...
Apparently the money changers do not like to look at another possibility of government shutdown by Christmas, now that the some what reasonable Boehner decided to give up serving his people.
S&P doqn 2.44% and NAS off 3.01%.
Recall USA alone was blamed for Libya unrest, Tunisia uprising, Egypt instability, suicide bombings in Iraq, Ukraine coupe, Afghan war deaths, Pakistani al-Qaeda and Syria civil war. Now all we hear is the Syria refugees swarming Europe and, finally, the other European leaders are coming to the table on their own to be part of the Syria solution.