The number of Americans filing new claims for unemployment benefits was little changed last week, according to government data on Thursday that suggested the labor market was struggling to regain momentum.
Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 387,000, the Labor Department said. The prior week’s figure was revised up to 389,000 from the previously reported 386,000.
Economists polled by Reuters had forecast claims falling to 380,000 [...]
New Zealand consumer confidence slipped in February, as the economic outlook dimmed, with households feeling less optimistic about their financial well-being.
The ANZ-Roy Morgan Consumer Confidence measure eased to 113.3 in February from 116.1 in January. The current conditions index posted a 4 point decline to 109.8, while the future conditions index eased 1.9 points to 115.7..
There are still earthquakes in/around and offshore Christchurch…
AU is for 80+% depending Mainland China…Please check [...]
It’s Official: America Is Now As Dumb As A Bag Of Hammers
Ever wonder why America will elect precisely the president it deserves in just over a year? Here’s why.
Scores on the critical reading portion of the SAT college entrance exam fell three points to their lowest level on record last year, and combined reading and math scores reached their lowest point since 1995.
The College Board, which [...]
Are you ready for part two of the global financial collapse? Many now fear that we may be on the verge of a repeat of 2008 after the events of the last several days. On Friday, Standard & Poor’s stripped the U.S. government of its AAA credit rating for the first time in history. World financial markets had been anticipating a potential downgrade, but that [...]
–Dow plunges over 500 points, major indexes slump into correction territory on recession, debt worries
–Stocks hit progressively lower lows throughout the session; all sectors post steep losses
–Bank of New York Mellon prepares to charge large depositors to hold cash; stocks, central-bank interventions fail to assuage investors
By Brendan Conway
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)–U.S. stocks plunged in the biggest selloff since the financial crisis, driving the Dow Jones Industrial Average [...]
Full mea culpa, and we have at this point lost track how many in a row this is, from Goldman’s economic team which has now lost all credibility.
Sizing the Fed’s “Zone of Inaction”
Following another dose of disappointing economic data, we have cut our Q2 growth estimate to 2% (annualized) from 3%. We also have issued a preliminary forecast for the manufacturing ISM in June [...]
By Kathleen Madigan, WSJ
Small-business owner pessimism worsened in April for a second consecutive month, even though current sales performance was the best in 40 months, according to data released Tuesday.
The National Federation of Independent Business‘s small-business optimism index dropped 0.7 point to 91.2 in April. That followed a 2.6-point decline to 91.9 in March.
The NFIB called the April index “a disappointing outcome following the March decline.”
The report [...]
Yesterday we saw 60 instances of +1000 tick or greater. Indeed, there were many instances of +1200, +1400, +1500, and the most extreme buying extreme yesterday was a +1608. As we saw very recently, with the historic +1700 tick, fuel gets dissipated very quickly and exhausts the buying pressure with this kind of “hammer down” buying.
We have already seen an over 10 point decline from this morning’s high. This is [...]
First there was a 1000 INDU points in minutes and now within a 24 hour period a 3% move back and forth in the futures market. It’s going down, no it’s going up, hold on it’s going down again, no wait it’s heading up and so on and so forth.
The truth be told, the market is precisely where it was last Thursday, wresting with the EW pivot at 1090 and [...]