Chillin' out till it needs to be funded
With Newt shut out outside Georgia, Tennessee and Oklahoma, it is suddenly very clear for the average GOP to push Mitt Romney out as the candidate tomorrow, though the convention is far away and Alabama, Mississipi and Kansas throwing a wrench in the works would only increase activity at the Convention if any. Wash. of course went to Romney, and consulting services will star in this week’s discussion of a US revival as the Jobs report gets set up by a early warning on Wednesday in the ADP payrolls
Republicans, of course will thrash out the final candidate amongst themselves in July and August ( also Newt Gingrich on CNBC) but markets have sorted out economic data enough to assume it’s all down for the res t of the year until it can come back from an appropirate rest back to the 13000 number on stocks again.
UPDATE(10 AM ET): Factory orders dipped as expected but after December increase was revised upward to 1.4%, dropping 1% for January, marked by a 3.9% drop in Capital Goods orders ( Aviation included). Earlier November was revised upward to 2.2%
ISM Services also grew instead of an expected correction in line with other global increases in Services PMI though the Eurozone numbers underlined contraction, China promising a 53.9 index and US responding with a strengthening 57.3 from 56.8 on the same account in January
Small businesses in an Intuit survey on Sunday signed on to optimism on the Friday Jobs report with 45,000 payroll additions in February across the 72k businesses tracked by the survey based index, average salary rising $4 to $2682, and workweek at 25 hours
The market is obviously more affected by China’s new downtrending , coasting, slow landing plans for 2012 (Asia impact)