Market News

[weatherweenie]

The ISM Manufacturing Index for April came in at 60.4, which is greater than the 59.7 that had been expected

 

[weatherweenie]

The ISM Non-Manufacturing Index for April was just posted. It came in at 52.8, which is down from 57.3 in the prior month and considerably less than the 57.4 that had been broadly expected among economists.

 

[weatherweenie]

Employers added more than 200,000 jobs in April for the third straight month, the biggest hiring spree in five years.
The Labor Department reported Friday that the economy added 244,000 jobs last month. Private employers shrugged off high gas prices and created 268,000 jobs -- the most since February 2006.

 

[weatherweenie]

The number of people applying for unemployment benefits fell sharply for the second straight week, suggesting the job market is slowly recovering.The Labor Department says applications for benefits dropped 29,000 last week to a seasonally adjusted 409,000. The four-week average, a less volatile measure, rose slightly to 439,000, the sixth straight increase.

 

[Frixxxx]

China raises interest rates amid inflation fight
http://finance.yahoo.com/news/China-raises-interest-rates

"Inflation is politically dangerous for the ruling communists because it erodes economic gains that underpin their claim to power and can fuel unrest.The Cabinet's planning agency says June inflation, due to be reported next week, is likely to exceed May's level due to a jump in food costs blamed on summer floods that damaged crops."

Something to think about for you ETF'ers!:blink:

 

[weatherweenie]

The Labor Department said Thursday that applications for benefits dropped by 14,000 to a seasonally adjusted 418,000.
Applications have topped 400,000 for 13 weeks, evidence the job market has weakened since the beginning of the year. Applications had fallen in February to 375,000, a level that signals sustainable job growth. They stayed below 400,000 for seven of the next nine weeks. But then applications surged to an eight-month high of 478,000 in April and have shown only modest improvement since.
The four-week average, a less volatile measure, declined for the first time in four weeks, to 424,750.

LINK

 

[Sensei]

http://online.wsj.com/article/SB10001424052702303365804576435353669413550.html?mod=WSJASIA_hpp_MIDDLETopNews


[h=1]Panetta: U.S. Within Reach of Defeating al Qaeda[/h]
Thoughts about this headline? At first glance I thought, "Hey, that could be good for the market." Then I considered that it's a weekend headline, and could be shrugged off by Monday. And also remember that the market actually dropped the day Bin Laden died, supposedly because it was thought to solidify Obama's bid for re-election. So maybe this will end up driving prices lower. Your guess is good as mine.

 

[weatherweenie]

New U.S. claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, pointing to a labor market that is struggling to regain momentum after job growth faltered in the last two months. Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 418,000, the Labor Department said. http://www.cnbc.com/id/43837880

 

[weatherweenie]

Futures rallied Thursday after a new bailout fund document stated it will extend loans to ease the euro zone debt crisis and as investors largely shrugged off a disappointing jobless claims news.

http://www.cnbc.com/id/43837043

 

[weatherweenie]

From CNBC: White House Denies NY Times Story That President Obama and House Speaker Boehner Are Close to Budget Deal

 

[weatherweenie]

Weekly Jobless Claims up 1,000 to 400,000; Revision Boosts Last Week to 401,000; Continuing Claims at 3.73 Million

 

[weatherweenie]

Non-Farm Payrolls Rise by 117,000 in July, Unemployment Rate Drops to 9.1%, Which Is Lower than Expected

 

[Bquat]

Do you think the unemployment rate is going down because unemployment bennifits are running out for thousands and many stopped looking?

 

[RealMoneyIssues]

Do you think the unemployment rate is going down because unemployment bennifits are running out for thousands and many stopped looking?

Very possible, but who knows because these numbers don't tell the real picture anyway...

 

[weatherweenie]

http://finance.yahoo.com/blogs/brea...875.html?sec=topStories&pos=main&asset=&ccode=

Small-Caps in Bear Market: Buy or Beware?

 

[malyla]

Did Bob Pisani just chastise his colleagues on CNBC for spreading the rumor about the French bank downgrades (Societe Generale)?????? Bob was angry calling the interview disgraceful and how the CEO of the bank was apoplectic that that rumor was out there. His colleagues (Maria and Bill) just brushed it off and asked him to talk about the rally going on now.:laugh:

Back to work....

 

[weatherweenie]

http://finance.yahoo.com/news/July-...tml?x=0&sec=topStories&pos=main&asset=&ccode=

WASHINGTON (Reuters) - Retail sales in July posted their biggest gain since March, tempering fears that the world's largest economy might be slipping back into recession.

 

[malyla]

Eeegads!:worried:

It's like someone whats us to hit bottom in one day!

http://www.reuters.com/article/2011...0818?feedType=RSS&feedName=companyNews&rpc=43

* Fed worried euro zone crisis may affect US banks-report
* Indexes off: Dow 2.8 pct, S&P 3.1 pct, Nasdaq 3.7 pct

Tran now down 6.6%, Dow down 4.32%, S&P down 4.6% and Nasdaq down 5.13%

 

[weatherweenie]

More good news

http://finance.yahoo.com/news/Econo...html?x=0&sec=topStories&pos=main&asset=&ccode=

 

[Bquat]

More good news

http://finance.yahoo.com/news/Econo...html?x=0&sec=topStories&pos=main&asset=&ccode=

That might be good. Lower expectations and anythig over it looks good to the market. They should estimate near zero growth and the market will respond to any growth.