ISM, Non Farms, Pending Sales, Construction Spending, Sentiment, Observations
In our top story tonight, the leader of al-Qaida in Iraq, Abu Musab al-Zarqawi, is STILL dead and someone else has taken his place.
Intel cutting 20K jobs; Bristol Myers cutting 10K jobs. Next week a shortened week and we are on vacation until 9/11, have a safe labor day weekend..
August UMich Consumer Sentiment 82 vs prior 84.7 a slight decline.
August ISM 54.5% vs prior 54.7%
Inside the number: new orders 54.2 vs prior 56.1; production 56.6 vs prior 57.6; employment 54 vs prior 50.7; prices paid 73 vs prior 78.5; a slight slowing with prices moderating.
August Non Farm Payroll +128K vs prior +121K
Inside the number: +111K private; +17K govmint; service jobs +118K, mostly teachers for the new school year. Advetised unemployment rate holding at 4.8%.
Manufacturing -11K jobs; % of manufacturers hiring 44.6% lowest since October; retail sector -13.5K jobs; department stores -9K jobs; - 47K in the last five months. Full Report
July Construction Spending -1.2% vs prior +0.4%
Inside the number: Home building -2%; lowest since March 05. YOY construction spending +5.1%, but the mustard is off the hot dog.
July Pending Home Sales -7%
Inside the number: Lowest since Feb 03; over the last year -16%. This month -9% Midwest, -7.7% Northeast, -6.4% South and -5.5% West.
In the past year, -20.3% West, -20.1% Midwest, -15.5% Northeast and -11.3% in the South.
Oil under $70 and month beginning fund shifting start Sept in an up mode. We still look to around 09/11 & 10/11 as inflection points in this choppy sideways, flagwaving pattern.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!
Intel cutting 20K jobs; Bristol Myers cutting 10K jobs. Next week a shortened week and we are on vacation until 9/11, have a safe labor day weekend..
August UMich Consumer Sentiment 82 vs prior 84.7 a slight decline.
August ISM 54.5% vs prior 54.7%
Inside the number: new orders 54.2 vs prior 56.1; production 56.6 vs prior 57.6; employment 54 vs prior 50.7; prices paid 73 vs prior 78.5; a slight slowing with prices moderating.
August Non Farm Payroll +128K vs prior +121K
Inside the number: +111K private; +17K govmint; service jobs +118K, mostly teachers for the new school year. Advetised unemployment rate holding at 4.8%.
Manufacturing -11K jobs; % of manufacturers hiring 44.6% lowest since October; retail sector -13.5K jobs; department stores -9K jobs; - 47K in the last five months. Full Report
July Construction Spending -1.2% vs prior +0.4%
Inside the number: Home building -2%; lowest since March 05. YOY construction spending +5.1%, but the mustard is off the hot dog.
July Pending Home Sales -7%
Inside the number: Lowest since Feb 03; over the last year -16%. This month -9% Midwest, -7.7% Northeast, -6.4% South and -5.5% West.
In the past year, -20.3% West, -20.1% Midwest, -15.5% Northeast and -11.3% in the South.
Oil under $70 and month beginning fund shifting start Sept in an up mode. We still look to around 09/11 & 10/11 as inflection points in this choppy sideways, flagwaving pattern.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!
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