Market News

[Dutchy]

SPX Futures closed at 915am at 2040, down big on horrible jobs report.
I would have thought (but what do I know??) that Markets would have taken news as sign FED rate hike would be
delayed further in 2015, but suppose poor Economic outlook overrides this ??
I'm hoping it is an overreaction, otherwise Monday will be ugly..

 

[exnavyew]

Good thing the market is closed today I guess with this dismal Jobs report. Perhaps the '3-day' weekend will 'soften' it's impact on Monday. :worried:

 

[bmneveu]

Big miss
US added 126K jobs in March, vs 245K expected, jobless rate stays at 5.5%

I consider that barely above flat. We need to add 100K per month just to stay constant with population growth. So we gained 26K. Better than losing jobs I suppose.

A Labor Chart For Labor Day: U.S. Has Gained 9.2 Million Jobs Since Recession's Lowest Point - Forbes
That article is 6 months old now but still relevant. We've created far more jobs in the recent years than we lost in the recession.

 

[bmneveu]

SPX Futures closed at 915am at 2040, down big on horrible jobs report.
I would have thought (but what do I know??) that Markets would have taken news as sign FED rate hike would be
delayed further in 2015, but suppose poor Economic outlook overrides this ??
I'm hoping it is an overreaction, otherwise Monday will be ugly..

2040 is right there at the mid-march low. That looks like a good floor of support to rally from. I will probably be buying this weakness.

 

[weatherweenie]

US 1Q GDP up 0.2% vs up 1.0% expected

 

[Frixxxx]

US 1Q GDP up 0.2% vs up 1.0% expected

Pain, We're going to feel it today!

 

[weatherweenie]

Fed: All calendar references removed

 

[weatherweenie]

US private sector created 169,000 jobs in April vs. 200,000 estimate

 

[weatherweenie]

Initial claims for state unemployment benefits rose 3,000 to a seasonally adjusted 265,000 for the week ended May 2, the Labor Department said on Thursday. Claims for the prior week were unrevised at 262,000, which was the lowest reading since April 2000.

 

[weatherweenie]

US 1Q revised GDP contracted 0.7% vs. 0.8% drop expected

 

[tsptalk]

I didn't realize the expectation was so low.

 

[Dutchy]

Down in article, Marketwatch.com survey predicts 3.2 % growth in 2nd Quarter, now that seems optimistic !


U.S. GDP turns negative in first quarter, again - MarketWatch

 

[weatherweenie]

Despite a tweet from Greek Finance Minister Yanis Varoufakis that his government "opposed the very concept" of any controls, Greek Prime Minister Alexis Tsipras said later Sunday that he had forced the country's central bank to recommend a bank holiday and capital controls.

 

[weatherweenie]

Futures are red, in part due to another almost 8% drop in China.
China

 

[weatherweenie]

US weekly jobless claims total 297,000 vs. 275,000 estimate

 

[weatherweenie]

The International Monetary Fund said Thursday it has trimmed down its expected global growth for 2015 to 3.3 percent, citing weaker-than-expected economic activity in North America during the first quarter. In April, the organization said its global growth projection for this year was at 3.5 percent.

 

[weatherweenie]

Greece talks rumble on: Athens still has more to do

Greece still has more to prove before it can restore the trust of its fellow euro zone countries and get funds it desperately needs to stave off calamity, with euro zone officials telling CNBC on Sunday the country will need far more money than originally believed.

 

[FogSailing]

Again, not surprised. Burro stated as much over the last few days. My gut thinks that a deal will occur, hopefully tomorrow. They've been working at this for so long there shouldn't be any surprises. If they want a deal, it's time to make a deal even if they are still PO'd at the leadership. As long as China stays buoyant through the Greek talks I think the markets will be moderate...but we'll find for sure tomorrow..

FS

 

[exnavyew]

Again, not surprised. Burro stated as much over the last few days. My gut thinks that a deal will occur, hopefully tomorrow. They've been working at this for so long there shouldn't be any surprises. If they want a deal, it's time to make a deal even if they are still PO'd at the leadership. As long as China stays buoyant through the Greek talks I think the markets will be moderate...but we'll find for sure tomorrow..

FS

I think SOME kind of deal will be reached even if it's just a 'kick the can down the road' stop-gap
measure. Also, Tsipras government is engaging in too much brinksmanship IMHO and he may yet find a way to make things worse for Greece/EU and then the Greek people will be suffering for years for his recklessness in these critical negotiations....IMHO. Zorba the Greedy? Yeah, doesn't quite work does it. :cheesy:

 

[userque]

I think SOME kind of deal will be reached...

The hard/important part is guessing when it will be reached.