After last week's sell-off a lot of people were caught underwater on positions. So after the market's bounce this morning, traders took it as an opportunity to lighten up on their positions . . . to buy back on some of their loss incurred Friday.
That will be a big double-whammy, the one-two on Friday. It's not the day to take off work.
That weakness on the claims front is offsetting the durable impact.
The big inflationary news will be next week's CPI. It's a much broader price measure and gives you a much better look at price movements in the economy.
I'm not against conspiracy theories as a whole, but they have to be at least somewhat credible. I guess that now that the 'X Files' is off the air you need to have this stuff to fill the void.
Yeah, the rate held steady, but all the payroll stuff is extremely weak. To have 357,000 down and 108,000 down back to back is definitely a concern.
This is a number you're not supposed to pay attention to in the summer.
People are concerned about how smoothly today's auction will go.
It's going to be much harder for the Fed to talk rates down after what's gone on lately. At this stage it's really going to require action rather than talk.
They've given all this extremely confusing talk about unconventional methods over the past few months. There's substantial work to be done on the whole communication issue over there.
