The Banking and Strategy Initiative

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US Morning Report: Jobs report denies Thursday’s Private payrolls report / Services optimism

Th eJobs report finally came out to a measly 80K. Private Payrolls are up 84K and the unemployment rate unchanged. Dow Futures are down 60 points as we speak with much more ahead of us. The Participation rate is better  and closer to 64% Obama’s Campaign wouldl likely take things bad too as The Romney Machine comes out devaastating audiences with the heat for the Demoocrat President

In the UK, PPI Output prices are still up 2.3% on year though don on month, and input prices still contracting but the other side of the  Channel constinued to suffer as Spanish yields punted the 7/5 mark , running up for the third day running without regard for Central Bank intervention. The Swiss are contracting on CPI data too, while German Production managed to retain the year ago levels in the May ramp up without accident to its financials.

Finance - Financial injection - Finance

Finance – Financial injection – Finance (Photo credit: @Doug88888)

Though the challenger job cuts report for june were at half the May levels and down from June 2011, with Jobless claims move also supporting the Friday Job report Consensus is playing safe at nearly half the required number to not add to unemployed masses of 13M on the streets However Private payrolls estimates earlier at 102k before the ADP report have mostly moved up and Goldman Sachs has doubled the jobs number expected to the par 150,000 which means the unemployment rate will not be increasing..

Consumer and Financials stocks will be up as always on Jobs Day trading though the indices on average trend marginally or a quarter percent lower

A negative surprise would take Financials down1.1% as per a Bloomberg/Dom Chu report on Jobs preview and S&P down another one half percent.

AND NO, this does not make chances of a QE brighter!!@!

However Crude and Gold must resume the downtrend again as the temporary hill of hopes is not gonna cut the Icthyus’ skin of the recession


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This entry was posted on July 6, 2012 by in Amitonomics, US and tagged , , , , , , , , .


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