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ISM Services Miss (Lowest Since June) As Employment Plunges To 6-Month Lows
Being the major part of the US 'economy' the disappointing performance of the ISM Services (soft data) - printing at 53.9 missing expectations of 55.0 - should be a concern.
Under the covers, the data is a little more worrying than the stil-in-expansion mode headline data miss. New orders, business activity, and perhaps most worrisome, the employment sub-index all slid with the latter at its lowest since May. Combined with the manufacturing PMI, the composite ISM index fell from 55.1 to 54.3 in November. Despite the data, respondents remain optimistic...though tempered by its slow pace.
This is the lowest November print for ISM Services since 2006.
Quite a difference between ISM Services And Manufacturing as the latter seems driven (we suspect) by the epic channel-stuffing from the Auto-industry and the former more reflective of reality...
The last 4 times ISM Manufacturing was so far above Services it marked the turning point in manufacturing and a market correction.
WHAT RESPONDENTS ARE SAYING ...
- "Optimistic fourth quarter in sight." (Information)
- "Slight slowdown in occupancy." (Accommodation & Food Services)
- "Things are improving very slowly." (Finance & Insurance)
- "Business is steady at this time, with little fluctuation from last month." (Health Care & Social Assistance)
- "Regulatory uncertainty is having an effect on consumers who are spending, but not aggressively." (Retail Trade)
- "Business remains steady, with gains in new orders and projections into 2014." (Professional, Scientific & Technical Services)
- "We are clearly seeing a pickup in activity, which began in August." (Wholesale Trade)
Finally for all those algos which got wrong footed with the ADP report suggesting a surge in jobs, while the ISM report shows jobs are sliding, we have one simple binary message:
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Now STFB you mooks!
So that explains the complete hard-on ramp job going on in ES futures.
What a "market"!!!
baffle with BS?!?!?
I'm fed up with their BS!
46 75 63 6B 20 59 6F 75 20 42 65 6E !!!!
I feel like an organ grinder monkey being asked to dance to 16 different songs. It is clearly getting more and more absurd with TPTB trying to keep their lies straight and manage every market short of the downtown fencing operation.
Plug me back into the matrix so I can go have a steak already.
I find it interesting that the sheeple can set there and believe that the last 5 years of absolute dismal numbers of jobs, new orders and even more dismal wage increases is not an issue! We must find a way to give away even more of your money to those who do nothing because Obama thinks it’s a good thing as long as he doesn’t have to play that game!
Then to top it off after all the ranting and raving about Mit’s outsourcing jobs and how Mit was made the evil doer Obama outsourced the AMA web site to a Canadian company with results that border on total incompetence he give them another $600+ million in more contracts! What a fucking hypocrite he is and all those followers that have never said anything because they are the biggest hypocrites of all time!
Sooo... Taper off?
0101 0001 0111 0110'K you Ben
No, this is a technical bounce that should last the next few days maybe. I see it as a wave two up correction of the five waves down that were completed at the lows this morning.
But!! This means the next drop is a third wave down and they tend to be very nasty.
So.. GTFON and STFB Or should that be just GTFONASTFB ??
Tylers you have my permission to use "GTFONASTFB" with no restrictions nor remuneration except I would appreciate a nice bottle of scotch for coining the phrase!
Manufacturing Renaissance! I seriously heard on Bloomberg that the ADP predicted 15K manufacturing jobs were created in November.
Especially since everything being sold for Christmas was manufactured in August or earlier.
Annnnd stocks ramp, metals dump
+14 points in 40 minutes... on this news? Riiiiight
these aren't the kind that trade on 'news'
I realize I should be used to this kind of action by now, but I'm not.
Saved by the bell bad news?
<Can you say 'market neurosis"?>
One report says hiring up...the other down.....who to believe...who to believe
how long before funds realize they are hoping for: bad earnings due to bad economy. negative cash flows for companies, mass firings, etc.....
in 3....2....1......
Death spasms.
Move along, nothing to see here. These are not the lost jobs you are looking for ...
The Fed-Warped World of Wall St!
This is fuckin bullshit. I know something's funny when your surfin careerbuilder for IT jobs and you see the same jobs with different headings from the same temp firm. Or the same job duties or responsibilities with another title from the same temp firm.
This shit is real out here.