Succinct Summations week ending January 10, 2014

Positives:

1. ADP came in at 238k v expectations of 200k, its largest monthly increase since November 2012. (Attention Chicago guys: NFP did NOT confirm these strong numbers).
2. 10-year yield saw its biggest one-day decline since October, borrowing is cheaper, woo hoo (for bad reasons, I know)
3. Dennis Rodman, the gift that keeps on giving, is at it again in North Korea.
4. 6.7% unemployment rate is the lowest since Oct 2008
5. November NFP was revised up to 241k v the reported 203k (pending revisions, of course).
6. Initial jobless claims come in at 330k, 5k below expectations.
7. November U.S. trade gap shrank to the smallest since 2009, ‘Murka.
8. The Dow Transports are ripping, closing out new all-time highs, ditto for mid-cap stocks.

Negatives:

1. NFP reports a lousy 74k workers added, v estimates of 197k.
2. ISM services index fell to 53 v expectations of 54.7.
3. The S&P 500 is down 5 of the first 6 days of the year for the first time since 1991 (which finished up >25%)
4. One of Americas oldest stores, Sears, reported horrific numbers and is in a pile of trouble.
5. Estimates for customers security information breach keeps climbing at Target.
6. The Polar Vortex sucked.

Category: Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

9 Responses to “Succinct Summations of Week’s Events (1/10/14)”

  1. VennData says:

    So do you want a bold, decisive, strong leader in Washington who believes in something?

    http://news.yahoo.com/obama-administration-recognize-utah-same-sex-marriages-173045735.html

    Or do you want States Rights?

    http://www.bloomberg.com/news/2014-01-06/pot-prices-double-as-colorado-begins-recreational-sales.html

    Or someone who’s good for business?

    http://finance.yahoo.com/q?s=%5EGSPC

    Obama, Four more years!

    • Iamthe50percent says:

      Good for the stock market is not necessarily good for business. And good for business is not necessarily good for the country.

  2. Global Eyes says:

    “Taper” is a hot topic but “stimulus” is the new normal and it’s bullish for stocks.

  3. chartist says:

    My employer is hiring and has been hiring. It’s a tier 1 auto supplier. But, the starting wage is $12 hour. I think many who lost their jobs won’t accept a job in this pay range. Also, the job is not coming to you, you have to move to where the job is….

  4. b_thunder says:

    Positives:

    4. 6.7% unemployment rate is the lowest since Oct 2008 – That’s it? No context, no asterisks at the end? You CAN NOT Be Serious!

    I understand that this is “Succinct Summations of Week’s Events”, I really do. However, writing that among the “positives” without mentioning the shrinking participation rate is, IMHO, simply dishonest. It wouldn’t surprise me to see this in a Wall St. sales pitch targeting their best “muppets,” but not in the BP blog.