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In Advance Of Today's 8:30 AM Economic Data Tsunami
Today at 8:30 am at least one HFT vacuum tube will short a filament as we get not one, not two, not three, but four concurrent economic data releases at the same time. And then there is a whole bunch of other stuff later in the day... which is not to say that the 3pm rumor will not determine the outlook of the day.
8:30: Producer Price Index (November): Rebound. The Producer Price Index (PPI) is expected to rebound in November due to higher commodity prices and an end to temporary weakness in vehicle prices. In October, vehicle prices declined sharply with the roll out of new model-year cars and trucks. Historically this annual turnover of the vehicle fleet has only affected prices in one month, and therefore vehicle prices are expected to stabilize in November.
PPI: GS: +0.4%; Consensus: +0.2%; Last -0.3%.
Core PPI: GS: +0.2%; Consensus: +0.2%; Last Flat.
8:30: Current account balance (Q3): Small improvement. The current account balance likely improved in Q3 on a narrowing in the trade deficit.
Consensus: -$109bn; Last -$118bn.
8:30: Empire State Index (December): Another increase? The Empire State manufacturing survey improved in November, but it remains a bit low compared to the other regional surveys. The consensus sees a small additional improvement for December.
Consensus: +3.0; Last +0.6.
8:30: Jobless claims (Week of December 10): Reversal of holiday distortions. The Department of Labor said that the surprising drop in jobless claims last week partly reflected distortions caused by the Thanksgiving holiday. Even if some of the latest drop is unwound, the trend in jobless claims would still be one of steady improvement.
Consensus: 390,000; Last: 381,000.
9:00: TICS net inflows (October). Recent TIC reports have shown large outflows from US equities and large inflows into US Treasury securities. Given the surge in stock prices in October, today’s TIC report for that month could show a reversal in these flows.
Consensus: +$63bn; last +$69bn.
9:15: Industrial production (November): Slower growth. Available data point to more moderate growth in industrial production during November. Most importantly, manufacturing employment increased only slightly during the month, and average weekly hours in the manufacturing sector declined. In addition, surveys such as the ISM seem consistent with a slower pace of increase. Production of motor vehicles and related products could again be a bright spot in the report as weekly auto production data has continued to show gains.
Production: GS: +0.1%; Consensus: +0.1%; Last +0.7%.
Capacity utilization: GS: 77.7%; Consensus: 77.8%; Last 77.8%.
10:00: Philadelphia Fed index (December): Another increase? The December Philadelphia Fed index will be an important early read on growth momentum in the current month. We see a modest further increase to +8.0 from +3.6. At its current level the Philly Fed index is consistent with GDP growth of about 2.25% (annualized).
GS: +8.0; Consensus: +5.0; Last +3.6.
15:20: Atlanta Fed President Dennis Lockhart gives university commencement speech.
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Bullish!!
Data doesnt matter. Only Europe matters.
The question is, can any of those numbers be seriously considered to be factual?
when have they ever been? Fundamentals do not matter....
Only which direction Godman Suckers decides the 'market' will go today is the only thing that matters
They want to unload more shit. Gotta earn those bonuses.
are these comments by Goldman::))
The closer we get to the elections..the less reliable these numbers are...IMHO
glance at my avatar + fema family camps = no more elections!
What time does Sec of Defense Cain's new plan for the Middle East come out?
9-9-9?
I love 3 PM rumors. It's like a little package of fuck you love from the middle of no where.
Real numbers are terroristy
8-6-7-5-3-0-9 (8-6-7-5-3-0-9)
8-6-7-5-3-0-9 (8-6-7-5-3-0-9)
8-6-7-5-3-0-9
8-6-7-5-3-0-9
8-6-7-5-3-0-9
8-6-7-5-3-0-9
Jenny?
The ramp up is back. All fictitious numbers are at highs.
All news has returned back to the "Positive" side of the scale. The negative news is all gone. Overnight, things have improved again. The world once again has been save during my sleeping hours. I am so pleased and full of joy.
Time to rally.
Thats because while we are sleeping, the Politicians in Europe are hard at work promising to promise to actually promise to discuss a promise they made in reference to a promise about getting their debt crisis resolved.
"Where do you think you're going? Nobody's leaving. Nobody's walking out on this fun, old-fashioned family Christmas. No, no. We're all in this together. This is a full-blown, four-alarm holiday emergency here. We're gonna press on, and we're gonna have the hap, hap, happiest Christmas since Bing Crosby tap-danced with Danny fucking Kaye. And when Santa squeezes his fat white ass down that chimney tonight, he's gonna find the jolliest bunch of assholes this side of the nuthouse."
-Ben Griswald-Bernanke
That was a pretty damn cynical post.
+1
Let the fiction commence!
Meanwhile continuing claims -- which include Americans filing for their second week of claims or more -- rose 4,000 to 3,603,000 in the week ended Dec. 3, the most recent data available.
Geeez this latest dead cat bounce might maintain the system for a few weeks at the rate we are going, then we are going to have economic collapse