Chillin' out till it needs to be funded
Folks had so much information to share with fellow Americans and global investors /analysts and digital entrepreneurs there was almost no time to get despondent off any of the blanks of data being thrown. A fresh edition of the JOLTS data showed Job Openings down 325,000 this month to 3.4 M in April 2012. Housing permits having cottoned on to their role in the recovery data without supporting closings blew up to 780,000 while Housing starts ere ‘steady’ at 708k.
The House Financial Services Committee is right now following the Senate Banking Committee Act of last week and listening raptly to JP Morgan CEO and the only person qualified, talking about safe profits and isolated events.
Redbook Sales and the GS ICSC data came to a nervous agreement at 2.4% growth at stores over last week. The Redbook scores chain stores more diligently and its increase to 2.4% therefore means bigger smiles esp at Target and the Family Dollar stores ( tastes vary!)
Target is barely a quarter mile behind Amazon with $17 B in Sales in Q1 when Amazon jumped to a $39 B topline. Even Gap has been growing foot traffic rapidly at selected US brands.
Meanwhile the Fed meets again this year and will repeat its low rate prescription for the US tomorrow as the Euro makes a relief mark of 1.27 before going down (likely) in Asia again to the trusted 1.26 levels