Don't work too hard on this bullshit Nom. This data is nearly all meaningless because of TARP/BARF/QE and their hidden counterparts. No one has a scooby.
On Jun 5, 5:20 pm, nominal9 <nomin...@yahoo.com> wrote: > Is this the end of the Market "hype"?... I like this writer's question... > is "bad news"... bad news, again? > > http://www.cnbc.com/id/100791707 > By: JeeYeon Park <http://www.cnbc.com/id/19075466> | CNBC.com Writer > > Twitter > > 30 > > LinkedIn > > 1 > > Share > > Stocks added to sharp losses Wednesday, with the Dow down almost 150 > points and all key S&P sectors in the red, following weakness in overseas > markets and as investors digested several mixed economic reports. > > "For most of the year, the best thing that could happen for the market was > to get data that were not too hot and not too cold—that would drive the Fed > to keep QE and continue to provide liquidity for the markets," said Michael > Sheldon, chief market strategist at RDM Financial Group. "However, at some > point, if the economic data start to deteriorate, then instead of bad news > becoming good news, the bad news may just be bad news. In other words, if > the economic data really start to turn lower, investors may start to wonder > whether the Fed really has any power left to turn the economy around." > Name Price Change %Change DJIA <http://data.cnbc.com/quotes/.DJI> > Dow > Jones Industrial Average 15007.76 -169.78 -1.12% S&P > 500<http://data.cnbc.com/quotes/.SPX> S&P > 500 Index 1612.59 -18.79 -1.15% > NASDAQ<http://data.cnbc.com/quotes/.IXIC> Nasdaq > Composite Index 3408.66 -36.60 -1.06% > > The Dow Jones Industrial Average <http://data.cnbc.com/quotes/.DJI> dropped > nearly 150 points, led by *Alcoa* and *Walt Disney*, extending its > losses<http://www.cnbc.com/id/100788229>from the previous session. > > The S&P 500 <http://data.cnbc.com/quotes/.SPX> and the > Nasdaq<http://data.cnbc.com/quotes/.IXIC>also declined. The > *CBOE Volatility Index (VIX)*, widely considered the best gauge of fear in > the market, traded above 17. > > Most key S&P sectors were in negative territory, led by *utilities *and * > materials*. > > (*Read More*: June Market Swoon Ahead? Maybe Not, Traders > Say<http://www.cnbc.com/id/100785564> > ) > Play Video > Long-Term Investment Tips: Expert > Tim Holland, TAMRO Capital, weighs in on investing for the long haul, as > consumer debt declines and M&A activity picks up. > > The private sector created just 135,000 jobs in > May<http://www.cnbc.com/id/100791220>, > according to the ADP National Employment Report, less than estimates for > 165,000. The government's labor market report, which includes both public > and private sector employment, will be reported on Friday. Economists > surveyed by Reuters expect to see a gain of 170,000 jobs, slightly higher > than the 165,000 jobs added in April. > > Lee Hardman, a currency economist at Bank of Tokyo-Mitsubishi, said in a > note that the ADP report has been an inaccurate predictor of nonfarm > private payrolls so far in 2013, over or underestimating numbers by just > under 50,000 on average each month. Traders, however, have used the weak > economic conditions to keep hopes up that the Federal Reserve will not back > off its easing measures anytime soon. > > Meanwhile,the pace of activity in the services sector ticked higher in May > to 53.7 <http://www.cnbc.com/id/100788663> from 53.1 in April, according to > the Institute for Supply Management's services index. A reading above 50 > indicates expansion in the sector. However, a key employment measure > slipped to the lowest level since last July at 50.1 from 52.0. > > "The ADP employment data and the employment component within the ISM > services report, while not perfect, provide a hit that this month's > employment data may be on the softer side," said Sheldon. > > (*Read More*: Why Bad News Soon May Just Become...Bad > News<http://www.cnbc.com/id/100788466>) > > In other economic news, factory orders rose 1 percent in April, recovering > from a 4.7 percent drop in March, according to the Commerce Department. And > unit labor costs tumbled 4.3 percent, while productivity rose 0.5 percent. > > The Fed's Beige Book <http://www.cnbc.com/id/45975341>, its > region-by-region assessment of the economy, will be out at 2 pm ET. > Play Video > Warning Signs You Can't Ignore: Nobel Laureate > Robert Engle, NYU Stern professor of finance, shares his thoughts on which > countries face the largest systemic risks, including Japan, France, China > and the United States. > > Earlier, the Japanese Nikkei <http://data.cnbc.com/quotes/.N225-JP> tumbled > nearly 4 percent when Prime Minister Shinzo Abe's third "Abenomics" arrow > to boost the economy failed to impress investors. Other Asian indexes and > European > bourses <http://www.cnbc.com/id/100790356> also traded lower on the news. > > "The comments made by Abe today were not really a game changer and > disappointed a market which seems to have been positioned for a > USD/JPY<http://data.cnbc.com/quotes/JPY%3D>and Nikkei rally," wrote IG Index > market strategist Stan Shamu. > > (*Read More*: Japan Fires 'Third Arrow,' Execution Now > Key<http://www.cnbc.com/id/100790135>) > > The so-called third arrow of Abe's growth-reviving strategy follows > monetary and fiscal stimulus measures that were put into place earlier this > year. So far, however, Japanese stocks remain jittery on fears of a > tapering of stimulus measures by the Federal Reserve, and stuttering growth > in China. > > In company news, Apple <http://data.cnbc.com/quotes/AAPL> declined after > the U.S. International Trade Commission ruled that the company infringed on > a patent owned by Samsung <http://data.cnbc.com/quotes/593-KR> and issued a > limited order stopping all imports and sales for AT&T models of the iPhone > 4, iPhone 3GS, iPad 3G and iPad 2 3G. > > (*Read More*: With Latest Ban, Has Samsung Cornered > Apple?<http://www.cnbc.com/id/100790381>) > > The Treasury Department said it will sell an additional 30 million > shares<http://www.cnbc.com/id/100769822>of General > Motors <http://data.cnbc.com/quotes/GM> common stock from the government's > bailout of the U.S. auto sector. The Treasury, has said it will finish its > exit by early next year. > > JPMorgan Chase <http://data.cnbc.com/quotes/JPM> will take an $842 million > hit due to the bankruptcy of Jefferson County, Ala., the company said, > sending its shares down 0.4 percent. > > Hovnanian <http://data.cnbc.com/quotes/HOV> zipped higher after the > homebuilder posted quarterly results that topped expectations. > > The Mortgage Bankers Association said home loan applications fell 11.5 > percent last week <http://www.cnbc.com/id/100790875> as interest rates > climbed past 4 percent for the first time in a year. > > *—By CNBC's JeeYeon Park. Follow JeeYeon on Twitter: > @JeeYeonParkCNBC<https://twitter.com/jeeyeonparkcnbc> > * -- You received this message because you are subscribed to the Google Groups "Epistemology" group. To unsubscribe from this group and stop receiving emails from it, send an email to epistemology+unsubscr...@googlegroups.com. 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