[/caption]CNBC is reporting that there was a 21,000 drop in unemployment state filings, a drop which pleasantly surprised the pundits, and had a positive effect on the futures… meaning that the market could be buoyed by the unemployment numbers.
There is other economic news affecting the market, such as rising June retail sales, May consumer credit, which is expected to drop some $3 billion from the previous month, and the Energy Department's expected release of the crude oil inventory numbers, which were late due the recent Fourth of July holiday.
All these numbers are said to affect the markets one way or the other - though more emphasis is placed on the state unemployment weekly filings. This is logical, because if the people are employed, then they are more likely to spend money that will fuel our economy.
The international news is also an important economic variable to look at. For instance, the International Monetary Fund (IMF) raised its' global forecast for 2010, due mainly to expansion in Asia and higher private demands in the U.S. The IMF was also cautious, opining that the European debt crisis poses significant threats and risks.
The IMF has now revised its' growth forecast to be 4.6% from 4.2%, but still forecast a growth rate of 4.3% for 2011.
The much talked about European “stress tests” for their banks are forever in the news, and it seems much credence is given to these tests, by as much as they are mentioned by the financial pundits. But where are the specifics and methodologies used, so that neutral observers can test them? This is needs peer review to secure confidence in the European banking system.
I have been saying this for months. As long as we sit on our asses faxing and telephoning we would never see a tier 5. I posted I don't know how many request to form teams and hit the streets. I got no reply's. Now reality has hit. We will never see a tier 5 believe me. I got off my ass and got public assistant, I was not too proud to fight and save my ass.Now I have food and my rent and bills paid with no worries until work comes along. I advise you all to
ردحذفget off the key boards and go help yourselves. If u are thinking that the Government is going to come to your rescue, snap out of it, it will never happen.The Faxes are going in the garbage and the phone calls are falling on deaf ears.