July’s ADP National Employment Report showed a change in payrolls of -350K, compared to a revised drop of -463K in June. The latest Bloomberg consensus estimate was -350K. The job market continues to improve, despite remaining at dismal levels. Initial market reaction was negative to the report with interest rates trading up and equities futures […]
Archive:
August 2009
An upward surprise in this morning’s pending home sales data helped to restore some sentiment to the market after a disappointing personal income release. Pending home sales were up 3.6% in June, compared to a consensus forecast of 0.7%. This was the 5th consecutive month of gains. Pending home sales were up in all four […]
Personal Income fell 1.3% in June, compared to a revised increment of 1.3% in May. This decline was likely due to continue weakness in the labor market coupled with a reduction in government transfers through stimulus payments. May’s data included several one-time government payments to eligible individuals that totaled US$157.6bn at an annual rate. June’s […]
I was perusing the internet the other night, as I usually do, and began to notice a trend. It all started with this headline “SABMiller Halts Beer Volume Drop on Chinese Demand”. At first I didn’t think too much of, so I move on. Several minutes later, on a completely unrelated site, I come across […]
July’s ISM came in well above expectations at 48.9, compared to June’s reading of 44.8, a reading over 50 would indicate expansion. The employment index rose to 45.6 from 40.7, while prices paid rose to 55.0 from 50.0. The growth in the employment index could help alleviate some pressure on this Friday’s employment report, it […]
Following last week’s mixed data, the market will be searching for indications of the strength and timing of a US economic recovery — and there will be plenty of places to look. In contrast to the relative quiet of the past several weeks, a slew of economic indicators pertaining to jobs and manufacturing should be […]