This week JAM (and Jim) go on the road

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If the market is set to drop, how far will it fall?

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“Disappointing” initial claims for unemployment are no such thing

“Disappointing” initial claims for unemployment are no such thing

The stock market is selling off on a “disappointing” increase in initial claims for unemployment. First-time claims for unemployment benefits rose to 397,000 for the week ending March 5 from 371,000 for the previous week. Traders, of course, know that the week-to-week swings in the initial claims number are meaningless. But if you need some volatility to make some trading profits, this data is as good an excuse as any.

Car sales in China still show growth in February but forecasts now call for “just” 10% growth in 2011–a big drop from 32% in 2010.

Auto sales in China climbed by 4.6% in February from February 2010. Before the data was released today overseas car makers had projected that February could produce the first year-over-year decline in the last 16 months. The industry dodged that bullet but the data still seems to show that sales are slowing to a 10% growth rate in 2011. In 2010 auto sales grew by 32%.