Jobless Claims At 420K, On Expectations Of 425K, As Current Account And Building Permits Miss, Starts In Line; 894K People Added To UI Rolls In Past Week

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Thu, 12/16/2010 - 09:44 | 811166 papaswamp
papaswamp's picture

There ya go...TD spotted the big number.

Actual claims 486, improvement over last weeks 585,509. Total for all UE programs +893,959  to 9,191,897.

Our long term systemic jobless problem continues.

Thu, 12/16/2010 - 10:21 | 811250 Salinger
Salinger's picture

expectations of 425 ?????


not according to econoday

Thu, 12/16/2010 - 09:45 | 811169 Dick Darlington
Dick Darlington's picture

This must be as bullish for stocks as negative rating/outlook action is for an insolvent european sovereign.

Thu, 12/16/2010 - 09:47 | 811177 trav7777
trav7777's picture

employers took a head start on the 2011 firing season...

Thu, 12/16/2010 - 09:47 | 811178 Ferg .
Ferg .'s picture

Continuing claims rise . Current account deficit widens . Building permits fall . Housing starts miss expectations .


And yet futures are rising on the news . I'm not surprised but really , this is getting more than a bit ridiculous .

Thu, 12/16/2010 - 09:50 | 811184 eigenvalue
eigenvalue's picture

Housing starts beat expectations not missed actually.

Thu, 12/16/2010 - 10:02 | 811214 Ferg .
Ferg .'s picture

I was looking at an expectation figure of 6% MoM for November . Housing starts came in at 3.9% . Probably just got my expectations number from a different source than TD .

Thu, 12/16/2010 - 09:52 | 811190 papaswamp
papaswamp's picture

Anything not positive is a fluke....that is the new mantra anyway. Because Uncle Benny said all is well and the recovery is just spiffy.

Thu, 12/16/2010 - 09:51 | 811185 RobotTrader
RobotTrader's picture

Like I said, the dip buyers are swooping in on all the speculative darlings today:  SODA, YOKU, DANG, etc.  They won't give up until we get that big, red, ugly candle on the SPY that takes out the 20-day or 50-day.

Thu, 12/16/2010 - 09:54 | 811194 D-Falt
D-Falt's picture

Hasn't our nanny state passed a law to ban those big, red ugly candles yet?  They emit CO2 when they burn.

Thu, 12/16/2010 - 09:51 | 811187 eckart
eckart's picture

it is a joke of a market. the chf tells you everything you need to know

Thu, 12/16/2010 - 10:06 | 811222 Cdad
Cdad's picture


You might be a currency trader, and if you are I would have to defer to you.  But since I do not know, I have to disagree enough to point you to the EUR/USD cross....because that Euro thing really hung out over the rail yesterday and hacked it out hard.

So while the chf thing might be important in ways I don't understand, I think the whole risk on / risk off thing [which reminds me of the Karate Kid, oddly] is really hanging on the Euro right now...and somebody really should hold her hair back, you know?  It is just the gentleman's thing to do. 

But we'll see...and good luck out there.


Thu, 12/16/2010 - 09:54 | 811193 Caviar Emptor
Caviar Emptor's picture

The downsizing of America continues, uninterrupted. 


Thu, 12/16/2010 - 10:00 | 811195 Bob
Bob's picture

CNBC is running a "Send Us Your Stories of Strength In The Economy" promo this morning.  Let's make sure we don't miss any spin for the financial sheep shearing industry. 

Thu, 12/16/2010 - 10:00 | 811211 Cdad
Cdad's picture


I have not missed any spin at all...which is why I am dizzy and, on most days, quite literally insane with anger about the CNBC propaganda machine.  There, everyday I see people with no regard for their integrity or credibility.  And my mama taught me that those two things are very important.

As we watch the economy die, so too are we watching this network die.  And if Comcast does not hurry up with that whole merger thing, there won't be any value left to merge...which will later mean we will need to go all Whack-a-Mole on Comcast.

Thu, 12/16/2010 - 10:12 | 811229 Bob
Bob's picture

FEDEX miss attributed to "Strong benefit and compensation headwinds." It must be the growing strength of labor, I guess.   Gotta keep the best and brightest package throwers. 

When the dilithium crystals are exhausted, the CNBC holodeck will crash.  It couldn't happen to better guys and talking titties. 

Thu, 12/16/2010 - 10:52 | 811317 Raymond K. Hessel
Raymond K. Hessel's picture

I long for the day when, on a live Closing Bell broadcast,  the lights flicker on and off, camara pans across the confused faces and back to the street backdrop when first a rock is thrown cracking the window, then a Molotov shatters against the window and burns. Camara pans back to the scared faces... 

Thu, 12/16/2010 - 11:05 | 811364 Village Idiot
Village Idiot's picture

"I long for the day when..."


great visual.

Thu, 12/16/2010 - 10:08 | 811225 D-Falt
D-Falt's picture

Here's one.  Nobody is rioting in the streets or threatening to behead our leaders for not paying their college tuitions.

Thu, 12/16/2010 - 10:13 | 811233 Cdad
Cdad's picture


Wow.  I have to tip my hat.  That is really, really, really lowering the bar for visible evidence that things might not be all great and snorting bull fabo here in America.

However, I'll add that those things are almost certainly well on their way as evidenced by action in the treasury market...of late.  Yeah, things are probably going to get quite uncomfortable in America over the next few months, and you know how that moves Americans...being uncomfortable. 

But we will see...

Thu, 12/16/2010 - 11:11 | 811371 MachoMan
MachoMan's picture

Fine, how bout this success story.  I have a house full of useless chinese shit (its allure has outworn its utility).  I tried to sell it on ebay for top dollar, but everyone else was doing that too and between ebay fees and shipping, it's cost prohibitive with such low prices.  As a result, I dumped it all on the thrift store and will take a self-valued deduction come tax time.  In short, THERE IS A READY, WILLING, AND ABLE BUYER FOR ALL OUR USELESS SHIT!

Thu, 12/16/2010 - 09:55 | 811197 doomandbloom
doomandbloom's picture

yay! recovery is here...i mean there...i mean...

Thu, 12/16/2010 - 09:57 | 811201 monopoly
monopoly's picture

Just be patient on shorting. Our time will come again. Not yet me thinks.

Thu, 12/16/2010 - 09:59 | 811203 Caviar Emptor
Caviar Emptor's picture

Here was an interesting WSJ tidbit: iPhone costs US $1.9 Billion in trade deficit. Still wonder why we're losing jobs?

Thu, 12/16/2010 - 10:01 | 811210 Bob
Bob's picture

You're looking at this thing all wrong--the only thing that matters is AAPL. 

Jobs, shmobs.

Thu, 12/16/2010 - 10:00 | 811208 RobotTrader
RobotTrader's picture

FDX now down a paltry 41 cents. While gold waffles around at the lows, unable to move. RIG trading like its going to go broke, but BP is still green.

Thu, 12/16/2010 - 10:01 | 811213 Silverhog
Silverhog's picture

Great numbers, now just set the time machine for 2021 and we will be at full recovery.

Thu, 12/16/2010 - 10:04 | 811216 Catullus
Catullus's picture

Those are "end of presidency" numbers for sure

Thu, 12/16/2010 - 10:17 | 811237 goldmiddelfinger
goldmiddelfinger's picture

Bigger than that. More likely the end of the Union

Thu, 12/16/2010 - 10:05 | 811221 TraderMark
TraderMark's picture

Inflation as measured in 1990 = 4%, 1980 = 8%+

Inflation as measured by Bernank = 0.1%

Thu, 12/16/2010 - 10:16 | 811236 goldmiddelfinger
goldmiddelfinger's picture

CBOE Put/Call ratio back down to April 2101 levels as retail blows out of bond funds to buy stocks. Gold and oil are weak and will lead market lower until support lines (esp. 1219, 1200, 1173, 1129) are broken wherein the cycle of fear feeds upon itself


Thu, 12/16/2010 - 10:26 | 811258 Cdad
Cdad's picture


Tyler, even reposting that headline 10 hours later makes me

LOLOLOLOLOLOLOL again.  You kill me, man.


Thu, 12/16/2010 - 10:17 | 811240 Fox-Scully
Fox-Scully's picture

Not to worry-Obama had lunch with the CEOs yesterday.  They will rectify the unemployment numbers by hiring after Christmas to coincide with the massive expansion of production to match the workers wants and desires.  Oops sorry wrong Christmas and wrong people at the lunch!

Thu, 12/16/2010 - 10:27 | 811260 Bob
Bob's picture

Barry is desperately trying to find some way of addressing the needs of the multi-nationals.  He's gotta somehow convince them that they will own our children whole--this one organ at a time thing is a terrible drag on growth. Uncertainty is bad for business . . . he's gotta give them something they can believe in. 

Thu, 12/16/2010 - 10:34 | 811272 Cdad
Cdad's picture


Good one, Bob.  Really...really a good one.  I really like to LOL while going all Whack-a-Mole on things priced for stupid.  Thanks man, I owe you one.


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