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ISM Service Prints at 55.0, Compared To Expectations Of 54.8,Prior 54.3
ISM Servies prings at 55.0 compared to expectations of 54.8, now that all difusion indices trade like S&P earnings esmates. Key indices come in as follows as farce of a market goes green.
- New Orders: 57.7 vs. Prev. 56.7
- Employment: 52.7 vs. Prev. 50.9
- Prices: vs. Prev. 68.3
Here are the key respondent views:
- "Business remains steady; outlook for fourth quarter is good." (Information)
- "Trending favorable — see more activity toward additional staff and capital expenditures for 2011." (Finance & Insurance)
- "Business is stable. Customers are exerting a lot of pressure to lower prices." (Agriculture, Forestry, Fishing & Hunting)
- "Slight uptick in orders, but nothing to indicate sustainability." (Professional, Scientific & Technical Services)
- "This business cycle is cause for continued caution for the
foreseeable future. We would like to see some settling of unemployment,
retail and home sales — none of which appear to be either forthcoming or
predictable. We anticipate continued uncertainty and retrenchment."
(Retail Trade)
More completely irrelevant data:
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Trichet buying like hell periphery bonds today. One of the reasons the market seems to not being able to go red.
Dollar down. The Bernank always could count on an equity rise, but if more people skip the casino, realizing that the better play with cheap dollars is PM, his plans (and those of his pals trying to suppress PM prices) could come to naught.
As Zhou Enlai said, when asked what he thought about the French Revolution, "Time will tell."
Market will shrug off jobs report for this ism is what they will spin.
The 'Market' is responding to the Dollar getting slaughtered overnight.
People selling dollars because the markets here suck. But a low dollar helps stocks. Insane.
Oil running higher. People love expensive heat and gas going into a winter without jobs. Brilliant work fed.
Which eurozone country going bust today?
And the market slingshots to positive.
REITs (my favorite uber-fraud index), of course, reverse like hell.
This is like reading a comic book now.
They always gun REITs. I actually made money shorting VNO, but you have to time it right. If you want to short something, wait for CMG to pop again - that piece of junk is falling apart.
Wow.
All dips bought with the utmost urgency.
Especially oil. Get your bus pass out robo.
gap fill so far, but the willingness to fill the gap after an ISM Services meet and Nonfarm Payrolls big miss is quite a surprise. maybe it is based on US dollar weakness. materials/commodity stocks are mostly even. tech is even too.
The market has gone green. Unbelievable.
Just buy the fucking dip, just buy the fucking dip, and last but not least, buy the fucking dip.......
(I forget who originally posted it)
War is peace
freedom is slavery
ignorance is strength
debt is prosperity.
Orwell, 1984
http://en.wikipedia.org/wiki/Nineteen_Eighty-Four
Heh I meant the added "debt is prosperity" line, I don't recall that being in 1984 :)
I figured that was required reading. ;)
As for "debt is prosperity", since I can't remember you can take credit for it.
...and GM still hasn't fallen below it's IPO I guess most of us got that survey question wrong and yet sales aren't looking to good for GM.
TPTB have every interest in GM being a "success", regardless of how many millions/billions/trillions has to be pumped into their stock. They're the private/public enterprise partnership showcase.
The "risk on" crowd is due for a bruising...
a silver chart, Tyler ? just sh*ts and giggles ? Its Friday ;-)
Waiting for it to break the previous high.
It's time to learn Mandarin, if I want a manufacturing job.
Goolsbee: "this jobs report shows why we need the Bush tax cuts for the middle class"
If you compare the jobs report to the ISM service something does not add up -- it is in the best interest of the administration and qe2 Benny to have had a bad jobs report (wait for the upwards revision next month)
Imports keep picking up....that will put a little ouchy on the GDP.
Scanning for stocks down 1-2% and buying with both hands.
OK it now must be time for some Irish politician to casts doubts over the bailout package.
December 7th is economic d-day, i.e. default day. My Irish cousins are quiet and no word has come into the MSM since the slavery plan was announced Monday. This market spike is the last, desperate run to make money before the SHTF occurs.
The EU should have learned from the English that nothing good comes of going beyond the Pale.
http://en.wikipedia.org/wiki/The_Pale
The economy is bouncing along the bottom of the ocean. Statistical noise is the rough ocean floor.