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Busy Economic Docket In Holiday Thin Market
Anyone who has not taken the pre-Thanksgiving day off may regret it as in addition to a Eurozone whose core is now officially imploding we have possibly one of the busiest economic days of the year to top it all of right into what will likely be the thinnest volume days. Expect massive manic depressive mood swings on the smallest of blocks.
Goldman summarizes it all:
8:30: Durable goods orders (October): Weaker orders. We forecast that durable goods orders declined by 3.0% (month-over-month) in October, partly due to weak aircraft bookings. Components of the report that exclude aircraft orders should also weaken, however, due to the “first month of the quarter” bias we have observed for this indicator.
Total: GS: -3.0%; Consensus: -1.2%; Last: -0.6%.
Ex-transport: Consensus: Flat; Last: +1.8%. MAP: 4
8:30: Personal income and outlays (October): Solid spending. Personal income growth was likely supported by rising payroll employment in October, as well as a small gain in average hourly earnings. Non-wage income has caused some of the recent weakness in overall personal income growth, and these components will be important to watch in today’s report. We forecast another gain in personal consumption expenditures (PCE), based on strong “core” retail sales and healthy unit sales of vehicles. We forecast that the core PCE price index increased by just 0.05% month-over-month, or 1.6% year-over-year.
Income: GS +0.2%; Consensus: +0.3%; Last +0.1%.
Spending: GS: +0.3%; Consensus: +0.3%; Last +0.6%. MAP: 1
Core PCE prices: GS: +0.05%; Consensus: +0.1%; Last Flat.
8:30: Jobless claims (Week of November 19): Still improving? Jobless claims have gradually improved over the last two months, with the four-week moving average falling from about 420k to 397k last week.
Consensus: 390,000; Last: 388,000. MAP: 2
9:55: Reuters/University of Michigan consumer sentiment (November final): Slightly worse? The Rasmussen daily measure of consumer confidence suggests public attitudes may have worsened since the preliminary Michigan report on November 11.
Consensus: 64.5; Last: 64.2 (November prelim).
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Weaker Aircraft Orders? LOL
Lion Air (a bankrupt Indonesian airline known for crashing at night) gave BA its biggest ever order last week. Biggest EVER
biggest ever... what's that? 2 instead of 1?
Those are not the real important indicators!! The real indicators are....
1) Riot gears ( body armor)
2) Teargas canisters
3) Pepper spray
4) Chemical for the water cannon
5) Dried food
6) Beans and Spam
7) Guns and Ammo
8) Pitchfork
First! Just kidding. But now that I have your attention.
The economic situation is simple.
I bought 2 cars for no money down, once in the 1990s and once in the early 2000s, and paid them off.
NOW, I can't.
So the banks tightening commercial and consumer credit are to blame for this crisis.
Put people to work cleaning the environment.
Is this rocket science??
So you wanna clean trash....
and buy a car....
does it need to meet any criteria of will any car do? :)
ps: Are you Mexican?
"Put people to work cleaning the environment. Is this rocket science??"
A clean environment translates to longer life spans and larger global population. Neither of which can be supported. There's your answer Rocketman.
.
Paid troll - Blocking in effect.
CUT MILITARY SPENDING...
TRANSFER THOSE DOLLARS TO JOBS CLEANING ENVIRONMENT.
Would we rather have 500 military bases in no-where or
5 Million new jobs cleaning up the environment / clean energy?
How about new insulation on every exisiting home in America?
New energy R-4 windows and foam roof insulation to start.
Put people to work cleaning the enviroment? Just how fucking stupid is that? I don't have the time for this shit, but I can tell the kids are off from college.
Here's a thought - balance the fucking budget and disentangle the government from FREE enterprise. Rinse and repeat.
I am ready...two bottle a Jack...two cases of beer...and a bunch of popcorn....go baby go
Word to the wise. Buy this dip.
Uh, you mean when the dip finally completes its dipping next June right???
I did. . .10 more oz on the way that I bought with paper junk. Silver is still trying to break from the massive manipulation, so until it figures out what it is going to do . . . I'm holding off there.
Bottles of Maker's Mark and Jameson, two cases of Miller High life. Wine for the older kids.
Happy Thanksgiving!
OT, but has anyone notice gas prices dropping? It's gone from $3.59 to $3.29 in North Dakota in about 3 weeks, while the price of oil has been increasing since September. Seems strange to me.
We are hitting the 3.60 mark just now. Send more of the drop this way would ya?