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Advance Look At Today's Ridiculously Busy Day

Tyler Durden's picture




 

Those wishing to blow $2 billion on rogue, or just stupid, trades, will have ample opportunity during today's event extravaganza which sees the CPI, the current account, the Empire State Index, Initial Claims, Industrial Production, the Philly Fed, a POMO for good measure, and tops it all off with a Bernanke speech. Also, the relentless lie-flow from Europe will be a constant and lurking wildcard at every step of the way.

8:30: Consumer Price Index (August): Watching rent inflation. Goldman forecasts that the core CPI rose by 0.17% (month-over-month) in August. The firm looks for another sizable increase in rent-related prices, partly offset by lower prices for cars and trucks. Rent inflation accelerated sharply in July, so these components will be particularly important to watch in today’s report. A 0.2% gain is forecast in the headline CPI, following a 0.5% increase in the previous month.
CPI: GS: +0.22%; Consensus: +0.2%; Last +0.5%.
Core CPI: GS: +0.17%; Consensus: +0.2%; last +0.2%. MAP: 4
 
8:30: Current account balance (Q2): Slightly bigger deficit. The current account balance likely widened moderately during the second quarter. Net export figures from the GDP accounts showed a deterioration of about $8bn (not annualized). 
Consensus: -$122bn; Last -$119bn.
 
8:30: Empire State Index (September): Small rebound? Given high uncertainty about the near-term outlook for the economy, this early read on September manufacturing activity could prove important. Last month the Empire State index fell, but not nearly as much as the Philadelphia Fed index. For September the consensus expects a small rebound.
Consensus: -4.0; Last –7.7.
 
8:30: Jobless claims (Week of September 10): Steady? Jobless claims have moved up a little in recent weeks—the four-week moving average stands at 415k, up from 404k in mid-August—but still do not look as concerning as some other cyclical indicators.
Consensus:  411,000; Last: 414,000.
 
8:45: Federal Reserve Chairman Ben Bernanke will give brief opening remarks to the Fed’s systemic risk conference (no Q&A).
 
9:15: Industrial production (August): Smaller boost from autos. In July, a sharp rebound in vehicle production drove a 0.9% (month-over-month) gain in US industrial production. Goldman sees some boost from strengthening vehicle production in August, but a smaller sequential improvement than July. Weak manufacturing employment and the downturn in many business surveys also suggests a deceleration.
Production: GS: +0.2%; Consensus: Flat; Last +0.9%.
Capacity utilization: GS: 77.6%; Consensus: 77.5%; Last 77.5%.
 
10:00: Philadelphia Fed index (September): Sharp recovery? The current level of the Philadelphia Fed’s business conditions index has historically been associated with recession. Given that other indicators—including most other manufacturing surveys—have not deteriorated as much, Goldman believes the Philadelphia Fed measure is likely to rebound significantly.
GS: -5.0; Consensus: -15.0; Last -30.7.

11:00: $2.75-$3.00 billion POMO closes, with Fed buying ~5 year bonds maturing 09/30/2015-02/28/2017
 
13:45: Federal Reserve Governor Daniel Tarullo speaks on Fed’s systemic risk conference (no Q&A).

Via Goldman and Zero Hedge

 

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Thu, 09/15/2011 - 08:01 | 1672500 Kina
Kina's picture
Advance Look At Today's Ridiculously Busy Day

 

With so much bad news to come I expect stocks to be up at least 8%

Thu, 09/15/2011 - 08:09 | 1672526 RationalPrepper
RationalPrepper's picture

Anybody have enough balls to short into the close today (assuming we get the pump primed like we expect)?

 

Thu, 09/15/2011 - 08:15 | 1672545 1835jackson
1835jackson's picture

I am...I got 2 billion to blow

Thu, 09/15/2011 - 08:16 | 1672548 spiral_eyes
spiral_eyes's picture

2 billion euros = epic martingale at the roulette wheel, bitchez.

Thu, 09/15/2011 - 08:01 | 1672501 Zola
Zola's picture

http://www.youtube.com/watch?v=FLmD9TeUC54&feature=player_embedded http://www.youtube.com/watch?v=xZbQGpf3D_Q&feature=related Peter Schiff did quite a good job at the hearing the other day. Maybe worth mentioning on ZH.

Thu, 09/15/2011 - 08:05 | 1672513 DirtMerchant
Thu, 09/15/2011 - 08:06 | 1672519 Zola
Zola's picture

Thx for the correction, my bad.

Thu, 09/15/2011 - 08:30 | 1672599 Comay Mierda
Comay Mierda's picture

he speaks common sense. thats why the politicians wont listen to him

Thu, 09/15/2011 - 08:02 | 1672506 DirtMerchant
DirtMerchant's picture

Dang, busy day, what is a trader to do?

BUY BUY BUY ! news doesn't matter, UBS doesn't matter, Greece doesn't matter! Just buy it!

Thu, 09/15/2011 - 08:15 | 1672544 UGrev
UGrev's picture

It's the new SHAMD(w)OW.. you're gonna love my nuts (http://www.youtube.com/watch?v=RtX1iruGFFA)

Thu, 09/15/2011 - 08:02 | 1672507 PaperBear
PaperBear's picture

The seasonal precious metal buying is about to begin. Hold on tight to your physical gold and physical silver.

Thu, 09/15/2011 - 08:06 | 1672521 Kina
Kina's picture

Don't worry, that filthy slut manipulating gold and silver wont get her hands on mine.

Thu, 09/15/2011 - 08:04 | 1672511 Miss Expectations
Miss Expectations's picture

MY KIND of day!  I'm going to go see if one of my old bridesmaids dresses still fits.

Thu, 09/15/2011 - 08:05 | 1672515 DaBernank
DaBernank's picture

I'll take "buy the fucking rip" for 2 billion, Alex.

Thu, 09/15/2011 - 08:06 | 1672516 Oh regional Indian
Oh regional Indian's picture

See Pee Eye, Tell no Lie, Everything is Cheaper, Gas and food and energy, they are the sleeper.

They do not count, and how can they? Their absence keeps  bad thoughts away.

Like hunger (go dive a dumpster), or heat perchance (light that fence, it's good for a day or three).

Nothing, NOTHING comes anymore for Free!

Capiche?

ORI

Spinal Tap

 

Thu, 09/15/2011 - 08:06 | 1672518 fdisk
fdisk's picture

How many days in the row, GOLD red? Barely holding 1.8k
mark, don't get it, QE supposed to be super bullish for
GOLD. Or Bernank gonna talk about rising rates? Guess not..
:)))

Thu, 09/15/2011 - 08:10 | 1672533 Oh regional Indian
Oh regional Indian's picture

fdisk, lots of talk in India about tightening. Inflation is runnign away they say.

But it might be weeks away yet for the US of A.

Anyone notice how quickly September 20-21 is racing upon us?

ORI

Thu, 09/15/2011 - 08:18 | 1672555 Drag Racer
Drag Racer's picture

Anyone notice how quickly September 20-21 is racing upon us?

and what a week it will be. Saturday may be interesting as well. I wonder if the wall st. camping trip can last till the 20th?

Thu, 09/15/2011 - 08:12 | 1672536 swanpoint
swanpoint's picture

BTFD

Thu, 09/15/2011 - 08:09 | 1672527 buzzsaw99
buzzsaw99's picture

they could have rolled that joke of a systemic risk conference in with the fomc meeting because the solution is always the same, increase bank bonuses at all cost.

Thu, 09/15/2011 - 08:09 | 1672528 swanpoint
swanpoint's picture

European Lie Flow, Bitchez!

Thu, 09/15/2011 - 08:13 | 1672538 Oh regional Indian
Oh regional Indian's picture

American Flie Low, kuttiyas (bitches in Hindi)!

ORI

Thu, 09/15/2011 - 08:14 | 1672541 DirtMerchant
DirtMerchant's picture

The funny part is, its not because we can't handle the truth, we can, we already know it to a great degree, its the banksters and governments who can't handle the truth, if they admit to it, their done.

The truth will set you free!...and possibly get you one way tickets to meet your (insert religious icon here)

Thu, 09/15/2011 - 08:15 | 1672546 IMA5U
IMA5U's picture

we want more color on the ROGUE trader!

 

http://www.harris-authors.com/Rogue.jpg

Thu, 09/15/2011 - 08:17 | 1672549 overmedicatedun...
overmedicatedundersexed's picture

op ex on the morrow..games people play today - forclosesure up most in 9 months - UBS knows how to run it's trading it was a criminal who did mis deeds and they are as sound as the franc LOL...gold and silver under pressure for how long? monday they fly up IMO.  Ben is speaking today the market is tanking friday he sold the russel 2000 calls..info you can use.TZA

Thu, 09/15/2011 - 08:35 | 1672610 Smiddywesson
Smiddywesson's picture

Agreed.  Gold and silver will surge back next week.  More pain for paper gold today and tomorrow.

Thu, 09/15/2011 - 08:16 | 1672550 frugartarian
frugartarian's picture

let me guess: bad eco data across the board,  Bernanke speaks - dow up 200 points shortly after 

Thu, 09/15/2011 - 08:22 | 1672566 Drag Racer
Drag Racer's picture

dow up 200 points shortly after 

you have to climb the ladder before you can attemp the triple lindey off the high dive.

Thu, 09/15/2011 - 15:12 | 1674275 frugartarian
frugartarian's picture

=/

Thu, 09/15/2011 - 08:26 | 1672575 TradingJoe
TradingJoe's picture

It really does not matter anymore, lies, as always, had short legs, maybe these ones, being gov lies, are to last a little longer, but, in the end, they all come home!

Latest attempts to keep this ponzi going are based on WORDS, not ACTIONS, so, I expect at some point NEWS FATIGUE to set in, see algos need a bit longer to GET IT, that no more money is coming, so most likely Sept 21st will be a day to remember, as in, will Benjie go for lots of talk and no action too, or will he do some magic, this is what he's going to need, he has no money, for now! Will algos then move to Oct "hope and expectations"? Who knows!?

Gold seems to price in a "no money" FEDster day, otherwise it won't fall like that for no reason at all, I guess, again, that only a gov largese will make it run higher, or any other "printing" event! Or, THEY know money is coming, from whatever source and want to get it as low as possible?! Again Who Knows!?

For once, I am kind of done trying to figure out what THEY are going to do next, in real terms there is no next but total anihilation of what is left of US and Europe and THEM included! Talk about suicide, eh?!

Thu, 09/15/2011 - 08:24 | 1672581 Zgangsta
Zgangsta's picture

All of this, regardless of how it plays out, will be incredibly bullish for stocks, as PMs continue their descent to 0.

Thu, 09/15/2011 - 08:40 | 1672633 Smiddywesson
Smiddywesson's picture

I'd hardly call channeling between $1800 and $1900 a descent to zero.  Gold has never traded at zero, and never will, but a whole lot of other assets can go to zero.

This is nothing more than more shenegans by TPTB, who desperately want to hold gold under $2k and draw our attention away from what is going on. 

Thu, 09/15/2011 - 08:34 | 1672607 Pete15
Pete15's picture

BREAKING Unemployment rises and consumer prices just increased!!! Bullish. Cant wait to read Gold is a bubble articles today from the dipshits at marketwatch. 

Thu, 09/15/2011 - 08:49 | 1672675 PaperBear
PaperBear's picture

Gold/silver getting slammed, we must have a dreadful Philadelphia Fed index coming out at 10am

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