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Stocks Close At Record High On Worst Jobs Number Of 2014
Worst jobs data of the year? BTFATH. For the 9th day in a row, S&P 2,000 was all that mattered. Thanks to the standard Friday v-shaped recovery, the Dow scrambled back to green on the week and S&P 500 hit its Maginot 'retirement on' line - all on the back of USDJPY 105.00 pinning. Trannies and S&P hit new record highs and S&P had its best day in 2 weeks (led by exuberant growthy Staples & Utilities this week). Russell ended the week red as the late-day buying-panic sent Nasdaq just green with Dow and S&P. But, away from stocks, US Treasuries had their worst week in a year with 30Y +16bps (but 2Y only +2bps). The US dollar rose to new 14-month highs with its biggest week in 10 months. Despite the USD strength, Copper manage to close marginally higher even as PMs dropped 1.6% and oil plunged almost 3% (WTI under $93) in a very volatile week. High-yield credit markets closed with their worst week in the last 5. Bad news is great news still - just six years into the 'recovery'.
First 3 things:
It's Friday: a red close is illegal
— zerohedge (@zerohedge) September 5, 2014
105.000 thank you "Cartel" - right on rigged market schedule
— zerohedge (@zerohedge) September 5, 2014
> 2000. Confidence is back
— zerohedge (@zerohedge) September 5, 2014
Quite a week in futures...
From the release of the jobs data...
S&P 500 has clung to 2,000 for 9 days in a row...
But today was all about JPY 105 and AUDJPY momentum ignition...
On the week..
And Staples and Utes led the S&P sectors as Energy showed weakness... (tech inched into green thanks to YHOO's move on BABA IPO news)
High yield credit ended wider - its worst week in 5...
FX markets on the week were all about Draghi...
But Treasuries whipsawed all over the place - closing at the high-yields of the week...
As convergence continues...
Oil was slapped lower but had a very volatile week...
With copper showing small gains and PMs dropping in line with USD strength...
Best week for US dollar in 10 months to 14-month highs...
Worst week in the long-bond in a year...
Charts: Bloomberg
Bonus Chart: The Fed balance sheet is nearing that time...
Fed Asset growth vs. S&P Updated pic.twitter.com/PoqWftmNhA
— Not Jim Cramer (@Not_Jim_Cramer) September 5, 2014
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we have a new Timmay' Chairman of the CFTC, .. Chilton?
http://hedgeaccording.ly/2014/09/cftcs-tim-massad-agency-focused-on-fine...
Oil and other commodities will continue to fall. Whole countries are dropping off the financial landscape.
That makes the Loonie, the USD, and the Ozzie look less awfuller than the rest.
Shit on a stick, but hedge accordingly.
I CANT BELIEVE that theres a debate on CNBC between a bunch of yardapes who says they CANT BELIEVE the jobs report out today....I mean if the number was good, would they believe it then??? Holy shit, people believe/hear only what they want to believe/hear??? Thats why society is degrading, not even an ounce of truth anymore, just all lies around us. Truth seekers beware, though it looks like the banker suicides have suddently stopped all of a sudden.
BRASS MONKEY, THAT FUNKY JUNKIE.
Somewhere RobotTrader is furiously punishing his member in vindictive triumph.
Hey Tyler, can we get an updated Distribution of Marketable Treasury Security Holdings: Fed vs Private Sector?
Bull FUCKING SHIT! This is so rigged I'm about to join them on a ticket to stock market heaven. Fuck you asshole "whoever-you-are" buyers!
'I close my eyes to this travesty'
Priest from Dirty Harry The Enforcer, also all financial media personnel upon seeing any bad news at all.
But hey, the Fed got what they needed....an excuse to deflect all the heat to raise rates.
fuck the truth ... I'm in production on the Dow 20k hats for a massive Xmas sale !
If you're not buyin' you're not tryin'.
Forward comrades!
FY govt debt started at $16.738T . Today it closed at $17.754T. Congrats folks! We added $1T in new debt before the end of the FY!!!!!! Partay time!
https://www.fms.treas.gov/fmsweb/viewDTSFiles?dir=w&fname=14090400.pdf
How much did the E.U. add? inquiring minds want to know.
Nothing that's unsteralized.
yes, yes, another one of my favorite terms. Much akin to those "stress tests"...
http://www.eudebtclock.org
a handy link, globilization bitches...
Nice stuff.
I'll never understand it.
In my mind, no one can borrow from the future as IT (as it doesn't exist).
In my mind one only could borrow from someone's already existent production, or... I don't know.
Nice stuff.
New debt? What on earth is that? Debt to whom? Is it gold or fiat? If it's fiat, who gives a fuck?
Retardation bitches
Bow to the DOW !!!!!!!!!!
low employment participation rate, high black unemployment rate, even Hollywood is laying off cause of shitty sales. This hope and change shit is wearing me out.
the FED is buying shares with newly printed money. This can in theory continue while the printing continues. Eventually they will own the whole market, and then what?
It will end with a general rejection of fiat currency, if no banking crisis arises earlier.
This is smoke and mirrors, and it can continue for a whle, but end, it will.
Owning the whole 'market', stawks bawnds and everything was the plan all along, and now they realize there's nothing that can stop them.
Because the Fed.
Nothing is stopping the Shitshow now, they've reached full hubris and will never back down.
O this makes perfect sense.
"Free markets" in action.
/s
who needs price discovery anymore...
What... The... Fuck...
S&P at record high. Gloom and Doomers gnash their teeth in rage.
The economy is in good shape ? Did I miss something ?
I just SMH at how all it took was greed to dumb down and extinct the human species, it's all downhill from here no one could tell me the future of humanity is rosy without getting a big laugh in the face from me!
Gloom and Doomers don't have to look any further than outside their windows in Ferguson, Mariupol, Mosul, Freetown, Tripoli, Mulhouse, Buenos Aires, Chongqing, and Fukushima to prove they're right.
what you don't get about the situation is that S&P is a video game delusion viz-a-viz everyone else's reality.
keep playing that video game, little boy.
Today’s Jobs Report And The Cult Of Central Banking: Counting Angels On The Head Of A Pin While Main Street Flounders
http://davidstockmanscontracorner.com/todays-jobs-report-and-the-cult-of-central-banking-counting-angels-on-the-head-of-a-pin-while-main-street-flounders/?utm_source=wysija&utm_medium=email&utm_campaign=Mailing+List+Mid+Day+Friday
Effing moronic gambling-pit banks and corrupt government doing every damned thing to make sure this country is complely broke, at war, and anti-capitalist. Down-vote me if it isn't true.
This acid is amazing!
That's pretty much how I look at it now.
"Wow! Far out dude!"
I mean in the 90's "round numbers were considered a technical indicator."
So when you crossed say, Nasdaq 1500...of course you were going to 2000...and then after 2000...of course 3000...and then after 3000.
You get my point.
"They just a mind of their." And yes...you can lose money BIG TIME in these types of markets...even if you're a stark raving mad bull!
The only thing anyone knows for certain is that the Fed is simply not in play here for a LONG time.
Complaining about a lack of recovery...who hasn't had it better?
Obviously a case can always be made for prudence...and of course being a good fiduciary. "That means understanding that by laws exist" and not just say..."the law itself."
I find it interesting...and unsurprising...that only now is Halliburton paying. We should look upon such things as bad. On the other hand....that is a ton of money. Many folks at Corporate right now will think twice before they knowingly putting the lives of others in mortal danger now that the money does exist to indeed pay out claimants.
Of course good luck getting your money back from the F-35 "Lightening in your pocketbook" machine.
ok fuck it, you win... I am going long next week.
I've really thought about poking around in a few names here. It's not like there wasn't a beta annihilation last fall.
The "funny" one is lithium though. That should be your "bonus, bonus, bonus, insane clown posse" chart of the week.
I mean everyone know that lithium is like zippo when it comes to making the battery. But do people keep repeating "Tesla built in Nevada because of all that lithium mining"? Yep.
And in psychological sense this may in fact be true...
"With those jobs numbers the FED will never raise rates."
Unless of course it is time to rake the 401K/IRA/Retirees chips off the table again.
If you get say 3 more payroll numbers like that or worse, which is very possible, then they'll be talking about revving QE up again, especially in lght of the USD rally of late.
This is a mess. It will lead to a collapse, but timing is impossible to determine.
ding! ding! ding!
has been abt a week since I mentioned my expectations that the next round of QE will start in summer 2015.
collateral shmelateral, the fed wants inflation and will keep pushing on a string til it runs out of string.
mark my words.
They get whatever 'data' they need on cue to do whatever they feel like....too many doubts about QE? No problem, pretend its 'tapering'. Too much chatter about raising rates? No problem, just cook the data to allow no rate raise, but not bad enough to let indexes drop below record highs.
We need more layoffs to reach 50,000 DOW men!!!!!
It's the old-normal now.
If you are not shaking your head then you should be. I mean I love my returns but this is just outright, blatantly, so obviously manipulated that it is stupid. Sigh.....
Oops, pardon my slurp. Tell the fokkers to keep selling tbonds. I am tiptoeing back in. Thanks for the opportunity to reload Tepperfuck! OK back to slurping.
Germany is creating its own military. I suggest the US do the same.
This shouldn't be shocking. Stocks should keep going up as it takes more fiat to buy equity share in a company. I cant wait til rates soar as foreigners wise up and demand higher rates commensurate with the risk of holding US fiat.
"I cant wait til rates soar as foreigners wise up and demand higher rates commensurate with the risk of holding US fiat." --
Many people have been saying that since 1971.
It's a fiat world and has been for a long long time.
Nixon really fucked us. my parents weren't in the same hemisphere, let alone together, when the international "lets fuck the next few generations to enjoy the last few years we have on earth" regime took us down this path.
oh well, back to our distractions. 'happy hour' is about to start and football season's here!
He had no choice, they had no idea where the US gold supply was, so they could no longer stay on the gold standard. The oil being extracted from the ME, and put on the US books, was about to expire in just months, forcing the price of oil up and creating a scarcity as the new owners had different plans for that same oil. Then interest rates rose because we needed money to pay debts, those same people concocked an economy devoted to people with money, and so we have a connudrum today and tomorrow. This should be another clue as to why and when a reset to yesterday will happen. Just do the math sillies, it all adds up as planned.
so let me get this straight.
these assholes on tv are saying to ignore the jobs numbers from today because august is typically a slow month.
ok, so let me ask those douchebags this.
why the fuck did everyone have estimates of the august job numbers so high if they all thought august was going to be a slow month?
dont fucking give these high expectations and then make excuses after, this is what rick santelli said and he is 100 percent correct.
the shitshow goes on
Imagine how high the Shutup & Print 500 would have closed today if only 100,00 jobs were created, or 50,000... or hell, if we had LOST jobs [according to the govt numbers]. We would be going straight to the moon Alice!
Are we the last generation of retail investors?
Its becoming pretty clear that this is a market for algo's and central banks and a retail investor correctly anticipating an event to trade is worthless.
If markets are at all time highs, fundamentals don't exist, and both bad/good news brings positive outcomes in the markets, what's to say governments and central banks can't keep this up forever? Serious question here. I'd like to know if anyone can enlighten me. Thanks.
The problem is that your assumption is wrong. Fundatmental does exist. Stocks are very cheap if you believe the value of the dollar will be much less than what is now. The trend does not lie. The value of the dollar measured against physical things like big mac or coke, or real estates has been going down forever.
Lord or who ever the fuck save us !
I think I'm going to party like its 1999... Or was that 2007... ...or 1926...
Every time a bell rings a repo man tows a car.
Confirmation that the bubble is contained.
Why not celebrate?
So tired of this "stock market is overvalued" argument. If one does not exchange toilet paper for something physical like stocks and gold where can one hide ? Dont make me laugh with idiotic ideas like food and farm land. There is only so much you can eat before food goes bad and when you get old who is going to farm the land. Stock represent ongoing business, energy and medicine will be in demand no matter what. Stocks are cheap measured in future dollar because the toilet paper is losing its value by the minute. If you do not hold stock , real estate and or precious metal what else will you hold ?