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Today's 'Potentially Volatile' Data Docket

Tyler Durden's picture




 

As Europeans sell-the-news of EuroTARP's beginnings, we cast our eye to the macro data likely to spew forth this morning in the US. While markets have typically been ignoring much of the ECO data recently in favor of rumor and rumor-of-rumor and denial, there are some prints that may trigger human activity today.

Goldman recaps:

8:30: GDP (Q2-third est.): Low growth.  The consensus expects a small upward revision to second quarter GDP growth. We forecast an unchanged reading, but will be looking for any changes to inventory figures, which could have a direct impact on our Q3 GDP estimate. 

GDP: GS: +1.0%; Consensus: +1.2%; Last (Q2-second est.) +1.0%.
 

8:30: Jobless claims (Week of September 24): Steady? Jobless claims have moved up a little in recent weeks—the four-week moving average stands at 421k, up from a low of 404k in mid-August. A further increase from current levels would be a worrying sign for the near-term employment growth outlook.

Consensus:  420,000; Last: 423,000. MAP: 2
 

8:45: Philadelphia Fed President Charles Plosser on the economic outlook. Q&A expected.
 

10:00: Pending home sales (August): Upside risks. The pending home sales index – which tracks signed home sales contracts, and leads the official count of existing home sales by 1-2 months – has been choppy but little changed overall this year. The consensus expects a small setback (-2%) in this month’s report, but we see some upside risks. 

Consensus: -2.0%; Last -1.3%. MAP: 2
 

13:00: Atlanta Fed President Dennis Lockhart gives welcome remarks at Fed “Employment and Education” conference.

 

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Thu, 09/29/2011 - 07:51 | 1721364 Harlequin001
Harlequin001's picture

Euro TARP? You must be joking. You just know that after the collapse Europe II is coming because we just didn't go far enough this time.

Next time it will be as a Federation of European States able to issue bonds so that no one can escape the clutches of debt...

Thu, 09/29/2011 - 08:27 | 1721467 Alex Kintner
Alex Kintner's picture

Euro Banksters have "Bonus Envy" of US Banksters. Thus they need to cram thru this Euro TARP before the final collapse. Bend over Euro-Taxpayers, it's your turn. May I recommend the Petroleum jelly for a smooth experience.

Thu, 09/29/2011 - 09:02 | 1721513 Harlequin001
Harlequin001's picture

You can but I don't need it; I don't live there...

A self imposed exile can be a wonderful thing...

Thu, 09/29/2011 - 07:49 | 1721370 Oh regional Indian
Oh regional Indian's picture

Fed Employment and Education.

Is that the FEE conference? I can see why the Fed like it.

More fees all around, FTW!

ORI

Billary Caught, Now Waught?

Thu, 09/29/2011 - 07:56 | 1721387 Jayda1850
Jayda1850's picture

Employment and education

Two things the government has utterly failed at, yet seem to be experts on.

Thu, 09/29/2011 - 07:55 | 1721381 msmith
msmith's picture

The USD seems to be still driving the market direction.  The EURUSD is on the verge of another major move lower http://bit.ly/n5pzOZ and the S&P could finally break through the lower end of it conolidation range for a move lower as well http://bit.ly/oERsTs .

Thu, 09/29/2011 - 09:08 | 1721621 MichaelG
MichaelG's picture

Yeah?  Or not.

 

EUR/USD

Prev Close: 1.3526

Last Trade: 1.3628

 

S&P 500 Futures + 1.5%

Thu, 09/29/2011 - 08:01 | 1721396 youngman
youngman's picture

I think it the German vote day...that is the news for the day.....Unemployment has not matters for weeks now...totally ignored....and the revisions..no big deal...its all the German vote and how successful it was......weeeee....more debt..printing..and we celebrate...but WE....are stupid

Thu, 09/29/2011 - 08:11 | 1721411 GeneMarchbanks
GeneMarchbanks's picture

Plosser will say "Goldman rules the world" much to the outrage of Lloyd and Geithner. At this point it'll come about (by the AP) that Barroso Merkel and Sarkozy have indeed planned for decades now, a huge European wide "Orgy Fest" known as "Eurogasm 2012: Fuck The End Of The World". This, as you can imagine, will cause world markets to rally by 12% and also, more interestingly increase sex-toy sales in the Netherlands to quadruple which will, in turn, save the EU from recession.

 'Potentially Volatile' Data to say the least.
Thu, 09/29/2011 - 08:07 | 1721414 Monedas
Monedas's picture

523 German Socialists versus 85 Austrian Wunder Wirtschaft leaning politicians ! Austrian Austerity ? Ain't gonna happen with that kind of Socialist Stew ! Keep on hoardin' ! Monedas 2011 Imagine all the Jackson family at Michael's deathbed with all his most intimate caderie of friends cum handlers and the house is purged by a stable fire ! One rat's nest less ! Oh, the animal husbandry !

Thu, 09/29/2011 - 08:17 | 1721439 snowball777
Thu, 09/29/2011 - 08:16 | 1721437 LongSoupLine
LongSoupLine's picture

I don't know about you guys, but I'm just waiting with bated breath to what Steve Liesman and Bob Pisani think.  Only then will I make my trading and investment moves.

For those of you at home that would like to make the same investment decision, I recommend you proceed with these highly technical tips:

1) Put all your wealth in a pile;

2) Saturate said pile in diesel fuel;

3) Find your nearest ignition source;

4) ...ok, you get the idea.

Thu, 09/29/2011 - 08:18 | 1721440 snowball777
snowball777's picture

5) give it a great big hug

Thu, 09/29/2011 - 08:26 | 1721461 Mr_Wonderful
Mr_Wonderful's picture

Given the limp economic data of the last weeks the economy should really nosedive in November. As a result, since the market wants to be ahead of the curve, it will crash next month as predicted by those seven million plus October put contracts against the S&P 500.

Thu, 09/29/2011 - 08:35 | 1721492 msmith
msmith's picture
It appears we have more correction higher ahead of us on the AUDUSD, which could signal equities higher as well. http://bit.ly/nFuWgb
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