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Today's Economic Data Highlights
The preliminary take on fourth-quarter growth, employment costs, and consumer confidence….And just in case greater inventory accumulation for the GDP report is not sufficient to get stocks higher, there will be a $7-9 billion monetization of 02/15/2018 – 11/15/2020 bonds.
8:30: GDP for Q4 (prelim estimate)…stronger under the surface. Although we have one of the lowest estimates for this figure—at an annual rate of just 3%—that reflects a significant correction in inventory accumulation. Measures of final demand will be much firmer, ranging from about 3½% for final sales to domestic purchasers to about 5 ¼% for total final sales. Growth in real spending should be between 3½% and 4%.
On GDP, median forecast (of 85): +3.5%, ranging from +2.9% to +5.4%; last (Q3 third estimate) +2.6%.
On the GDP price index, GS: +1.4%; median forecast (of 40): +1.6%, ranging from +0.7% to +2.2%; last: +2.1%.
On the PCE core index: GS: +0.3%; median forecast (of 19): +0.4%, ranging from +0.3% to +0.5%; last: +0.5%.
8:30: Employment cost index for Q4…moderation? This index decelerated in the third quarter, to a rate of change equal to the four quarters of 2009. We expect more of the same for the fourth quarter, if not a bit further weakening.
Median forecast (of 51): +0.5%, ranging from +0.3% to +0.6%; last +0.4%.
10:00 (9:55 to subscribers): Reuters/University of Michigan consumer sentiment for Jan (final)…recoup some of that loss? This index weakened unexpectedly in early January, and most forecasters appear to think this was a fluke. The median expectation for inflation five to ten years ahead held steady at 2.8%, where it was in the preceding three months.
Median forecast (of 67): 73.3, ranging from 71.8 to 76; last 72.7 (Jan prelim).
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more pressure on oil, silver, and gold today?
Sure everyone else feels the surreal-ness of sifting through NUMBers while the world goes to hell in a handbasket.
This forum is somehow really important. Bigger than it's message.
And further signals have been received, I'm sure by many, that the world, indeed, is going to hell in a hand basket.
Comfortably NUMBer.
ORI
http://aadivaahan.wordpress.com/2011/01/27/wisdom-for-warriors-6/
More fake numbers so the extremely rich can get even richer and the poor can starve
Yo Tyler
NY Sun article on gold standard
http://www.nysun.com/editorials/the-moment-for-gold/87221/
Ford down 8% right now. Amazingly the futures are OK though.
the engineers that used to work for the auto companies now are engineers at the stock exchange.
i expect to see the DOW hit 13,000. i'm long equities, only after dumping my gold, silver and oil. A CPI of around .4% for 2012 and it's Egypts fault for not having satellite iPhones. How else you expect to stay Twitter accessible?
pick a number, any number...imaginary numbers work best.
i^2
Ben's POMO's will save the day, nothing to worry
Fraud at all levels, system broken
FCIC released the final version of its 700+ page Inquiry report, which disclosed that all of Wall Street is one big fat fraud, populated by criminals, who never go to jail, and whose settlement arrangements with the SEC is at most 1/50th of the illegally obtained profits.
WH/ Capitol Hill /FED are part of the loot
http://www.fcic.gov/
I am cleaning my 12,000 hat as Ben's Ponzi Dow Casino is going to cross 12,000 level today
Watch for 12,014 as a key, possibly terminal resistance (a close at that). Or we'll have a few bump-along days and then, boom.
Or so I saw in a dream once. I heard the dollar broke a key level on it's way down.
!2,000 and change might be the DOWner's last hurrah.
ORI
http://aadivaahan.wordpress.com/2010/06/18/of-tipping-points-and-shape-shifting/