Market comments for Sept. 9th
Data released on Initial Jobless Claims improved as the numbers came in at 451K Initial Jobless Claims. Expectations were for 475K, so clearly an improvement over expectations. Last week the number came in at 472K. Continuing Claims fell to 4.478 Million compared to last week's data of 4.480, which was revised up from 4.456. All in all the numbers for Continuing Claims were about what was expected with al the adjustments.
The Trade Deficit Balance came in better than expected at -$42.8 Billion vs expectation of -$46.5 Billion and prior month of June's data at -$49.8 Billion.
Futures rallied on the news.
It is most difficult to predict what wil happen today on the news in terms of how high the markets will go. The reason is that while the news is better than expected it is still not what we need to happen as far as jobs is concerned. It is just less bad.
The Trade Deficit Balance came in better than expected at -$42.8 Billion vs expectation of -$46.5 Billion and prior month of June's data at -$49.8 Billion.
Futures rallied on the news.
It is most difficult to predict what wil happen today on the news in terms of how high the markets will go. The reason is that while the news is better than expected it is still not what we need to happen as far as jobs is concerned. It is just less bad.
Labels: Continuing Claims, Initial jobless claims, Trade Deficit
posted by Charles Amico at 5:32 AM
2 Comments:
are you still holding your 36.50 purchase of TZA? With this recent uptick in the markets what are your thoughts on us dropping below 10,000 again?
I read your blog daily,
thank you
Yes, I am still holding my TZA and have not sold any. I do believe we will go below 10,000 again. But as with any question, the real question is when? I have bet that it happens before Oct. 16th with my Options which expire then and if not, with my Options which expire in January.
Don't know if this helps you, as I am in a minority obviously, as this market stays up. Thanks for your comment and for reading my Blog daily. Much appreciated!
Post a Comment
<< Home