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Empire Mfg Index Misses Consensus For Second Time In A Row, Comes At 4.1, Consensus Of 8.0, Prior 7.1, Lowest Since July 2009
Futures gap down as the Empire manufacturing index creeps ever closer to 0, coming in at 4.1, from 7.1 prior: this was the lowest since July 2009. Expectations of 8.0 were missed for the second time in a row. Optimism continues to deteriorate. From the report: The Empire State Manufacturing Survey indicates that conditions held relatively steady in New York’s manufacturing sector in September. The general business conditions index remained positive, although it slipped 3 points to 4.1. The new orders and shipments indexes were both up moderately for the month, at levels signaling stable activity. The prices paid index was positive and little changed from last month, while the prices received index edged up to just above zero. Employment indexes were positive, suggesting that employment levels and the average workweek continued to expand over the month. The degree of optimism about the six-month outlook continued to deteriorate, with the future general business conditions index hitting its lowest level since early 2009.
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Less bad is good ...right?
Oh I forgot...decline bitchez!
So, I'm confused. Is Nucor a buy here or not?
An excellant buy at $0.01
All equities are a sell...GTFO of the equities manipulation scheme man. I'd tell you to buy gold, but you missed the latest pop up...though $1300 by Jan is seeming possibly conservative at this point. I'm a silver junkie...but i think I have enough.
Though I did get a sweet long range anti-zombie item yesterday...
http://www.tactical-life.com/online/wp-content/uploads/2009/02/10-bas-k-...
j/k about Nucor. I've been stuck short since about 1060. Was long/short for a while but longs were all getting pounded. Have been sitting on CEF, PHYS for quite a while so no worries.
Nice bolt action, btw. What kind of glass is going on there?
Sorry my sarcasm detector obviously was turned off.
U.S. Optics SN-3 I'm thinking.
Nightforce, bitches!!!!!!
+1 for nightforce... I run a 3.5-15x56 on my .300 Win... spectacular scopes.
Oh please let it be the camel that breaks the straw's back already!
this is the headline on
Cramer's real money silver, "Empire Manufacturing Survey Holds Steady"
The rate of change is steady, just headed in the wrong direction.
But he can't be lying if nobody is listening right?
Manufacturing? New York? Is that a typo?
I guess the custom chopper industry is in a recession.
I can understand how one can be bullish on Stocks, but only on the basis that Bernanke may rain down money on the planet until inflation pushes stock prices higher.
I simply cannot fathom, though, how anyone can be optimistic about a recovery in real underlying business activity. What dataset does one have to look at to see justification for optimism? How can anybody fail to grasp that the decade before this Depression started was characterised primarily by an unprecedented and never-to-be repeated spending bubble fueled by easy credit and pulling consumption forward from the future (i.e. now) and we are NOT going back to that situation. Ever.
Clearly, whoever it was that 'Expected' an 8.0 print today is suffering from a severe case of denial, is paid to ignore the obvious, or is a moron.
"Clearly, whoever it was that 'Expected' an 8.0 print today is suffering from a severe case of denial, is paid to ignore the obvious, or is a moron."
the summer of recovery people. theres green shoots everywhere and a huge recovery.
Well, I reckon you can invest in equities if you expect inflation - though, you'll probably have to limit yourself to essentials, such as utilities.
Biflation, bitchez! Once again, the trend holds as in so many regional Fed surveys over the past year:
Prices Paid = UP - Prices Received = DOWN.
I thought the only things New York manufactured were T-shirts, pizza, the Yankees, and bad politicians.
So I was shocked when I learned there was index tracking those things.
//Just kidding New York, you have alot of things going for you. But I still hate the Yankees.
That should just about do it for SPX.
http://www.screencast.com/t/ZDFjZGZk
Sorry to be off topic, but if anybody knows the exact link on the Fed's website where they publish the POMO schedule and/or maturities, I would appreciate it if you could post it.
There is no need for a schedule. Just know they will monetize billions...daily from here forward.
http://www.newyorkfed.org/markets/tot_operation_schedule.html
From www.mortgagenewsdaily.com:
7:00 MBA Mortgage Applications, just released, fell 8.9% in the week ending Sept. 10, even as the average rate for a 30-year mortgage decreased three basis points to 4.47%.
Refinancings were down 10.8% and purchases declined 0.4% in the seasonally-adjusted indexes
Are manufactured financial products included in the survey?
briefing.com had the consensus as 6.4 and their estimate as 5.0. Still a big miss no matter how you slice it.
That said, it was not all bad news:
The new orders and shipments indexes were both up moderately for the month, at levels signaling stable activity. Employment indexes were positive, suggesting that employment levels and the average workweek continued to expand over the month. (CR)
TD tends to only look at the gloomy side - LOL
Manufactured BS , NY hasn't made anything since the late 1800's.
ruhroh industrial output and utilization slipped too....
misses?...is this not a plunge?
3 steels, NUE, AKS, STLD warn in less than 24 hours. Manu survey misses, SPX at top of range. Japan FX intervention within hours of vote of endorsement of PM. US voters line up at Lowes for pitchforks. Looks like a long quick fall to 1010 in 2010.
During the last 2 months the number of business improving and the number of business decrease both increased by 9 points. The number of business staying the same has dropped to the 3rd lowest reading in the 10 years of data they have on the website. In fact this is the first time all 3 data points have been so close together.
This trend can't continue and it will be interesting to see which direction it brakes.
I found lots of interesting information here. I love zerohedge.
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