This page has been archived and commenting is disabled.

Today's Economic Data Highlights

Tyler Durden's picture





 

Small business sentiment (which misses badly), wholesale inventories, JOLTS, and weakly [sic] lack of confidence…Last POMO of current schedule ends at 11 am, and new schedule is released by several 20 year olds at 2 pm.

7:30: NFIB small business optimism index for Dec…up further?  This index reached a new high for the recovery last month, and all eight of the economists who forecast it look for further progress.  The improvement in recent months reflects modestly better assessments for a wide range of business conditions, including expectations of easier credit, better general economic conditions, sales, and plans to increase employment.
Median forecast (of 8): 94.5, ranging from 93.5 to 95; last 93.2.

Update: NFIB comes at 92.6, and the bottom falls out of the projection. The hope for a pick-up in the small business sector did not materialise,
according to William Dunkelberg, the groups chief economist. Owners
remain stubbornly cautious and uncertain about the future course of the
economy and their business prospects.

10:00: Wholesale inventories for Nov…moderation?  These inventories are goods that are essentially in transit from factories or from the docks to final destinations such as retail outlets and are therefore difficult to forecast.  Analysts are looking for a much more moderate increase than the +2% average monthly change reported for September and October.
Median forecast (of 31): +1.0%, ranging from +0.5% to +1.5%; last +1.9%.
 
10:00 JOLTS (Job Openings and Labor Turnover Survey) for Nov
…This monthly data tracking the number of job openings, hires, and separations shows modest improvement on both the vacancies and the separations, but little evidence yet of a pickup in hires.

11:00 Last POMO of current schedule... in which the Fed buys $7-9 billion of debt due 7/31/2016 – 12/31/2017. At 2 PM the next schedule will be released, and we expect this number will be slightly higher than the current $105 billion per month.

17:00: ABC consumer comfort index…still mired.  This index edged off another point to -45 in the final week ending in New Year’s Day. Nobody cares about this one as it refuses to cooperate with the Ponzi marketing pitchbook.

From Goldman's Ed McKelvey and Zero Hedge

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 01/11/2011 - 09:21 | Link to Comment cossack55
cossack55's picture

20 year olds would be an improvement.  I guess using Jr. High Basic Math students hurt the BLS readings too much.

Tue, 01/11/2011 - 09:23 | Link to Comment Translational Lift
Translational Lift's picture

Sounds like another buy day to me....(sarc)!!!

 

Tue, 01/11/2011 - 09:59 | Link to Comment shushup
shushup's picture

I looked at the POMO wesite and it says the new schedule will be announced tomorrow at 2pm.

 

Tue, 01/11/2011 - 11:57 | Link to Comment Tic tock
Tic tock's picture

How putting a team of 20yr olds and an academic as the sole supervising team for the UST Bond program IS NOT Criminal Negligence is beyond me. This isn't even Bernanke, this the responsibility of the Directors.

Do NOT follow this link or you will be banned from the site!