Stocks climb again on “bad news is good news” model
The Standard & Poor’s 500 moved to another record today and closed at 2190.15, up 0.28%, on news that U.S. and Chinese retail sales were weaker than expected and that the Japanese economy went back into the tank after a strong first quarter for growth.
Middleby looks like it has recovered its growth mojo
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...In the short term markets are dancing to tune of guesses on central bank intentions
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Alibaba’s 59% increase in revenue puts growth worries to bed
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Weekly crude inventory levels confirm that the oil glut is shrinking more slowly than anticipated
Oil industry analysts had forecast a 1.5 million barrel drop in U.S. crude inventories. BUT the actual numbers announced by the U.S. Energy Information Administration today, Wednesday, August 10, showed an increase in inventories of 1.06 million barrels. Yesterday the EIA reduced its forecast of the decline in U.S. production in 2016.
Oil markets hold their breath waiting for Wednesday data on U.S. inventories
Tomorrow, August 10, brings a new weekly report on the state of crude oil inventories in the United States with oil markets looking to calculate a timetable for the restoration of supply/demand balance. Uncertainty over those inventory numbers was enough to bring the recent recovery from the bear market in oil to a halt. U.S. benchmark West Texas Intermediate slipped 0.07% to $42.74 a barrel.
Saturday Night Quarterback (on a Monday) says, For the week ahead expect…
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U.S. economy added 255,000 jobs in July
The U.S. economy added 255,000 net new jobs in July, the Bureau of Labor Statistics reported this morning. The government revised June’s jobs total upwards to 292,000. The headline unemployment rate remained at 4.9% as workers on the sidelines re-entered the labor market. The full unemployment rate, which counts discouraged workers no longer looking for a job and part-time workers who would prefer a full-time job ticked upwards to a seasonally adjusted 9.7%
Oil and gasoline supply numbers may be just an artifact of earlier than usual seasonal shifts in refinery operations
Oil traders have decided that this morning’s news on oil and gasoline inventories indicates a drop in supply and is therefore good for higher oil prices. U.S. benchmark West Texas Intermediate settled ump 3.3% today to $40.83 a barrel. I’m not convinced that the numbers show anything significant about the supply trend.
Japan’s government again promises more stimulus on paper than it will deliver
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...How long will consumers dip into savings to fuel spending (and the economy)?
Consumer purchases rose 0.4% in June, according to a report from the Commerce Department this morning. That was ahead of the 0.3% increase forecast by economists surveyed by Bloomberg. But incomes rose by a lower than expected 0.2% in June. Consumers spent more by putting less into savings. The savings rate dropped to 5.3% from 5.5%
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