At least the unemployment numbers were good enough not to accelerate the rout
It’s not that the number was great. But 117,000 is much better than the 84,000 consensus projection by economists
Do you dare buy before tomorrow’s jobs numbers?
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...Doesn’t look like the consumer will ride to the economy’s rescue in the second half
Financial markets didn’t need this morning’s bad news from the consumer sector. Personal income rose by 0.1% in June—below the 0.2% increase in May and the slowest rate of growth since November—and personal spending fell by 0.2% after a 0.1% increase in May.
Sometimes it looks like the U.S. isn’t trying very hard to create jobs
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...It could have been worse–but initial claims and housing starts data still point to weak U.S. growth
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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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Bad news on existing home sales battles good news on unemployment
Sales of existing homes dropped by 0.8% to an annual rate of 5.05 million in April, but initial claims for unemployment fell to 409,000 for the week ended on May 14.
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.
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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“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.
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