April 25, 2013 | Daily JAM, Morning Briefing |
Government numbers released this morning show that Spain’s unemployment rate hit 27% in the first quarter of 2013. The 6.2 million unemployed is the highest on record. Spain’s economy contracted by 1.9% in 2012 and is projected to shrink by another 1.6% in 2013. The government of Prime Minister Mariano Rajoy is expected to respond to the slowdown and the increase in unemployment by introducing another round of government budget cuts tomorrow
April 24, 2013 | Daily JAM, Morning Briefing |
Up on deck this week is the European Central Bank, set to meet on May 2, and being picked by bond market touts for a 0.25% interest rate cut at that meeting in reaction to numbers yesterday showing that economic activity continues to contract though out the EuroZone—even in Germany.
April 23, 2013 | Daily JAM, Stock Alerts |
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April 23, 2013 | Daily JAM, Morning Briefing, Short Term |
The Purchasing Managers Index released in China over night fell to a two-month low of 50.5 in April from 51.6 in March. Economists had expected a much smaller drop to 51.5 in April. That The reinforced fears that the Chinese economy might be slowing.
April 22, 2013 | Mid Term |
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April 22, 2013 | Daily JAM |
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April 22, 2013 | Daily JAM, Morning Briefing |
Frightening reading from Eurostat, the European Union’s keeper of economic statistics, this morning. The 2012 budget deficit for Spain hit 10.6% of GDP. That was even slightly worse than the deficit for Greece. Ireland came in with a budget deficit of 7.6% of GDP, followed by Portugal at 6.4%, the U.K. at 6.3%, Cyprus at 6.3%, France at 4.8%, and Italy at 3%.
April 20, 2013 | Uncategorized |
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April 19, 2013 | Friday Trick or Trend |
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April 19, 2013 | GE, Morning Briefing |
I wouldn’t make too much of today’s move to the upside in U.S. markets. It’s not unusual for the Friday of a down week to show a slight bounce. Certainly today’s earnings results from market bellwethers McDonald’s (MCD) and General Electric (GE) won’t relieve market worries about revenue and earnings growth for U.S. companies.
April 18, 2013 | Daily JAM, Mid Term |
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April 18, 2013 | Daily JAM, GOOG, Morning Briefing, Short Term |
For a stock market worried about growth, earnings from IBM (IBM), Microsoft (MSFT), and Google (GOOG) reported after the close of the New York market today, Thursday, April 18, were NOT good news.
