November 4, 2016 | Daily JAM, Morning Briefing |
The U.S. economy added 161,000 jobs in October and the Bureau of Labor Statistics revised the September job total upwards to 191,000. The original September report put the month’s job gains at 156,000. Economists surveyed by Bloomberg were expecting the economy to add 173,000 jobs in October.
October 28, 2016 | Daily JAM, Morning Briefing, Short Term |
U.S. GDP grew at a 2.9% annualized rate in the third quarter, the Department of Commerce announced today. Economists surveyed by Bloomberg were looking for 2.6% growth. This follows on 1.4% growth in the second quarter.
October 8, 2016 | Short Term |
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October 6, 2016 | Daily JAM, Morning Briefing, Short Term |
A big drop in initial claims for unemployment reported this morning sets the stage for tomorrow’s report on jobs in September. A strong showing tomorrow would add to conviction in the financial markets that the Federal Reserve will raise interest rates at its December 14 meeting. According to the CME’s FedWatch, the Fed Funds Futures market is now pricing in a 63.9% chance of a December increase
October 5, 2016 | Daily JAM, Short Term |
Now that’s a strong report. This morning the ISM Non-Manufacturing Purchasing Managers Index came in at 57.1 for September. That was well above the August reading at 51.4 and above the consensus among economists surveyed by Briefing.com of 52.8. Economists surveyed by Bloomberg had expected a move up to 53.
October 1, 2016 | Uncategorized |
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September 29, 2016 | Daily JAM, Morning Briefing |
The newest estimate for second quarter GDP released this morning shows the U.S. economy growing at a 1.4% annualized rate instead of the 1.1% of the prior estimate. Economists were looking for growth of 1.3% for this revision and see 2.8% growth in third quarter
September 24, 2016 | Uncategorized |
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September 15, 2016 | Daily JAM, Morning Briefing |
Retail sales in August fell 0.3% from July, the Census Bureau announced today. Analysts and economists were expecting a smaller drop of 0.1%. On a year over year comparison August sales rose 1.9%. Retail sales for June through August 2016 climbed 2.4% from the June-August period in 2015. Sales fell in eight out of 13 retail categories
September 14, 2016 | Daily JAM, Long Term, Morning Briefing, Volatility, You Might Have Missed |
In 2015, median household income rose 5.2% when adjusted for inflation from 2014. But all the income gains, the Census data show, came in cities and suburbs and none flowed to rural areas.
September 6, 2016 | Daily JAM, Morning Briefing, Short Term |
All this year the U.S. service sector has been making up for weakness in manufacturing. Not in August. The Institute for Supply Management’s non-manufacturing index slipped to 51.4 in the August survey. That’s down from 55.5 in July and is the lowest reading since February 2010. The ISM’s manufacturing index, released on September 1, showed that the sector contracted in August.
September 1, 2016 | Daily JAM, Morning Briefing, Short Term |
Manufacturing activity in the United States contracted, unexpectedly, in August, according to the Institute for Supply Management’s manufacturing index released today. The index fell to 49.4 in August from 52.6 in July. That was the biggest drop in the index since January 2014 and was enough to push the index below the 50 level that separates contraction from expansion. The median forecast among economists was for reading of 52.