Stocks drift lower when Bernanke doesn’t even hint at QE3.
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Here’s why a horrible jobs number hasn’t tanked stocks this morning
Private sector payrolls grew by just 83,000 in May. That was far below the 268,000 private sector jobs added in April and the consensus projection by economists of 180,000. So why, at 11 a.m. New York time was the Dow Jones Industrial Average down just 0.54%?
How big a disappointment in tomorrow’s jobs number is needed to keep stocks moving down?
If U.S. stocks hadn’t plunged yesterday on worries that the U.S. economy was slowing, you could bet that traders would be looking to sell today. Economists are looking for tomorrow’s jobs number to show the private sector to have added 180,000 jobs in May. That would be a huge drop from the 268,000 jobs added in April. But no one is sure how much disappointment is already baked into stocks.
Sure tomorrow’s jobs number is important, but for events that could change market direction look further into June
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Markets decide that morning’s data shows U.S. economy is slowing
The Institute for Supply Management Manufacturing Index fell to 53.5 in May from 60.4 in April. Although any reading above 50 indicates that the economy is expanding, the drop would seem to confirm other evidence of a slowing in manufacturing activity.
Pick your poison: Revised GDP numbers keep first quarter growth steady on export growth but show slowing in consumer spending
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Home prices fall twice as much as expected in the first quarter
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...Positive U.S. jobs surprise stems the gloom (for today anyway)
This morning’s report showing nonfarm payrolls up 244,000 in April took a lot of the fear out of a stock market that had convinced itself in the last few days that the sky was falling on U.S. economic growth.
Manufacturing keeps driving the U.S. economy
This morning the Commerce Department reported that orders for manufactured goods climbed by 3% in March. That’s the fifth consecutive monthly increase and a sharp pickup from February’s 0.7%
Saturday Night Quarterback says, For the week ahead expect…
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...The Fed’s gambling that higher commodity prices will damp inflation by slowing the economy–but not by so much that job growth comes to a halt
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