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US Morning report: It starts with a dull PMI and then, Jobless claims do not add up

English: CEO of JP Morgan

English: CEO of JP Morgan (Photo credit: Wikipedia)

It is mostly Global moves from across the  pond hurting this nation as euro data disappoints (The lowdown here) The MarkIt PMI hasn’t caught on the fancy of US Economists though with the HSBC PMI down a point to 52.9 on the back of a contraction mark in New Export Orders to 48. Then as Bernanke mentioned yesterday, job growth remained atrociously slow ahead of the next BLS Employment Situation bomb on the 387k jobless claims mark, the 4 week average having caught up to the T with the weekly number at 386,250

However, as someone just mentioned on Bloomberg, “The Sky is Falling in Oil” and UK retail sales rose 2.4% on year to support any bang that you and I and the US markets might be able to. Interesting data slices from the Data geeks at Calculatedriskblog.com with the Jobless claims obsession and the existing home sales anecdote likely to be offered at 10 AM when this report is published

Stories of JP Morgan having exited positions as the rally in the stock started right on Capitol Hill last week, have been confirmed with a hedge fund Bluemountain already ’empanelled’ as a counterparty helping buy for JP Morgan in the market to cover positions. Bluemountain was founded by alumnus Andrew Feldstein.

Reports on the Immigration law rulings have to be calendarised, as also the Healthcare law opinion both of which are due from the Supreme Court today. the Arizona law tried to make it illegal for immigrants to seek ork plus a couple of unearthly clauses but will likely survive in some form including a check of immigrants for documents when stopped by the police. States are allowed where Congress had envisaged an enforcement role for the states Some other states are no considering a Merck vaccine for HPV to be made mandatory for boys in the ages 11 and 12. the Vaccine is recommended for teenagers

English: Carlos Ghosn answering reporters' que...

English: Carlos Ghosn answering reporters’ questions at the Nissan factory in Kyushu, Japan. Picture by Bertel Schmitt (Photo credit: Wikipedia)

to remove risk of cervical and oral cancers

The Heathcare law opinion would make for some fascinating reading and a high watermark of market reactions today

In other news Carlos Ghosn joins the queue of ready to retire CEOs, Obama’s collections for May were 50% higher than that GOP hopeful at $39 M while “that Republican hopeful” made a lot of new donors from the “old list of Republican hopefuls”

Back to the sad news hurting the index now, Existing Home Sales are down to 4.55 M after a 2.8% contraction in March and a 3.4% expansion in April. Visitors to Facebook fell in May as well as Instagram users leave but the shares have learnt to live above $30

 

 

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This entry was posted on June 21, 2012 by in Amitonomics, Bailout Nation, US and tagged , , , , , , , .

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