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Philly Fed Plunges To 1 Year Low; Misses By Most Since Aug 2011
On the heels of a dismal series of global macro data points (all weather-related we are sure as G10 Macro drops to 8-month lows), this morning's US PMI debacle (nope, no weather there) has been followed up by a much more reassuring disastrous (and of course we are sure weather-related) miss. Philly Fed printed -6.3, missing expectations of +8.0 by the most since Aug 2011 (and dropping most since then). This is the lowest print in a year. New orders and shipments collapsed, inventories surged, employment plunged, and the average workweek dropped notably. Just imagine all that pent-up demand... oh wait, expectations for future new orders fell to at least 6 month lows.
G-10 Macro (must be weather everywhere?)
Philly Fed Orders vs. Inventory prints 3rd largest decline in history
* Feb. Prices paid fell to 14.2 vs 18.7 prior month
* New orders fell to -5.2 vs 5.1 prior month
* Employment fell to 4.8 vs 10.0 prior month
* Shipments fell to -9.9 vs 12.1 prior month
* Delivery time rose to 2.9 vs -3 prior month
* Inventories rose to 3.6 vs -20 prior month
* Prices received rose to 7.6 vs 5.1 prior month
* Unfilled orders fell to -2.6 vs -1.0 prior month
* Average workweek fell to -7.0 vs -5.3 prior month
Charts: Bloomberg
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Snowshovel sales are up big....
This market is on thin ice. The response on the tape was interesting.
its rolling over. under 1700 within 2 weeks.
Nolw this report was weather related for sure...
Anything negative is weather related...
yea right, we have gone up 20 points from yesterday and the market is going straight up.
this market will never again print 1700
The intraday chart looks like the beginnings of a cardiac arrest.
<Moar fiat to the OR stat. Someone grab the crash cart. Paging Dr. Yellen.>
When fraud is the status quo, possession is the law...
nevermind actually manufacturing something.
Can I interest you in a financial "product" of mass destruction?
I'm so confused.
Your confused? An hour ago Fox Business headline was Wall Street Surges Amid Positive Data. The header now is "Mid-Atlantic Manufacturing Activity Plunges In February." I haven't checked Bloomberg yet but it doesn't matter, they use the same headline to explain both market surges and plunges.
You're
Contraction of You and Are. Your is possessive, as in 'your gold', 'your guns', 'your freedom'.
Please?
This kinda stuff is becoming physically painful for me to read.
Stop picking on me, I said I was confused.
*kind of not kinda. Shame on you.
Heh heh heh. Fair enough.
lmao, signed in just to laugh. Kinda, stop please ur (you're) killing me.
Ahhh lighten up NoDebt, you're amongst friends.
And the to vs. too thing too!
Can't edit my post but Bloomberg has it covered: "US Stocks Fluctuate on Mixed Global Manufacturing Data". Their header is set to cover anything.
Good morning Sloane. It's funny because I get 'news' alerts pushed to my phone from four differnet MSM sources and they are all exactly the same headline. The story will vary, but the positive headline will be the same.
Good morning Doc, good to see you. I'm enjoying the same phenomena. Good news = The Titanic proved that people can survive shipwrecks!
The "news" is largely automated at this point by the Ministry of Truth.
http://www.infowars.com/justice-group-warns-of-obama-plan-to-put-governm...
Ignore anything with the word "Philly" or "Philadelphia" in it. This whole region is in terminal decline, with Philadelphia (the ultimate one-party-town) leading the way downward. Not a proxy for ANYTHING.
I was enjoying Jim Quinn's articles about the Philly area.
Don't be confused. You have the full faith and backing of the federal government to prop up approved asset prices.
Jan? You're all over this right??
just lower the bar and make it a beat , come on; are they forgeting how to manipulate
Anybody else have a flashy crashy print on their DIA chart?
Thank goodness the Philly Fed came through with a horrible number enough to push the stock market solidly back into green territory. I shudder to think what would have happened had the number been good ...
I think what we will find are areas that produce neede items for harsh weather (fuels also), will see a spike...those that do not wont. Spring will show a slight 'recovery' but more muted than last year. This will be the year of flat to slow decline by Oct.. 2015 will probably be brutal...unless something breaks before then.
Insanely bullish disappointment.. DOW up tripple digit in 3...2...1
booya buy buy buy...lots of emmo!
I'm hungry, I'm dirty
I'm losing my mind, everything's fine!
I'm freezing, I'm starving
I'm bleeding to death, everything's fine!
Thanks Tracy Bonham!!!
Any market fundamentals that were in play went straight over the cliff in 2008. When Paulson scared the piss out of Georgie Bush. Then and there the banksters were 100% certain they were the true rulers. They own the system and no piss-ant politician can do one damn thing about it. The banksters get "free" money and steady blow jobs from their D.C. wankers.
They will continue to rape and piliage for as long as this scam system can hold together. Which could be much longer than many would like to think/hope.
Solution: Print more money then print more gold...