Weak U.S. data clouds December rate hike possibility | Reuters

Weak U.S. data clouds December rate hike possibility | Reuters: "U.S. consumer spending in September recorded its smallest gain in eight months as personal income barely rose, suggesting some cooling in domestic demand after recent hefty increases.

The Commerce Department data and another report from the Labor Department on Friday also showed weak inflationary pressures, which would argue against the Federal Reserve raising interest rates at the end of the year.

U.S. central bank policymakers this week put a rate hike in December on the table with a direct reference to their final meeting of the year. The Fed has kept benchmark overnight interest rates near zero since December 2008.

"It will be difficult for the Fed to justify a rate hike at a time when income, consumption, and inflation are trending lower, leaving a December rate hike less likely than prior to the data," said Jay Morelock, an economist at FTN Financial in New York.

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, edged up 0.1 percent last month after rising 0.4 percent rise in August. September's consumer spending data was included in Thursday's third-quarter gross domestic product report."



'via Blog this'

"It's Not A Risk-On Rally, This Is The Biggest Short Squeeze In Years" Says Bank Of America | Zero Hedge

"It's Not A Risk-On Rally, This Is The Biggest Short Squeeze In Years" Says Bank Of America | Zero Hedge: "Today, we got confirmation that what the rally of the past week has been all about is precisely that: a massive short-covering squeeze, when Bank of America's Mike Hartnett looked at the latest weekly fund flow data and noted a "monster $53bn MMF inflows vs redemptions from equity ($4.3bn) & fixed income funds ($2.4bn)...rising cash levels indicate big risk rally (from intraday lows last week SPX +7.7%, EEM +13.5%, HYG +4.2%) driven primarily by short-covering rather than fresh risk-on.""



'via Blog this'

S&P Set For Biggest Ever Monthly Point Gain As Central Banks Go All In | Zero Hedge

S&P Set For Biggest Ever Monthly Point Gain As Central Banks Go All In | Zero Hedge: "We said that "either a central bank intervenes, or a massive forced buy-in event occurs, and unleashes the mother of all short squeezes, sending the S&P500 to new all time highs."

Since then two things have happened: one after another central bank did intervene, leading to the biggest VIX monthly drop in history..."



'via Blog this'

Guess what! That's NOT the IRS calling

Guess what! That's NOT the IRS calling:



" IRS will never initiate contact with a taxpayer by phone, email, text or social media to ask for personal or financial information. Indeed, the IRS will not call you and demand immediate payment on any taxes owed. The IRS handles any issues with taxes you owe by mailing you an official bill."



'via Blog this'

Auto Loan Market "Reminds Me Of What Happened Right Before The Crisis", Top Regulator Warns | Zero Hedge

Auto Loan Market "Reminds Me Of What Happened Right Before The Crisis", Top Regulator Warns | Zero Hedge:



 " 
Subprime car-loan originations have taken off in recent years as lenders have loosened underwriting criteria in this sector, allowing for borrowers with low, and often no, credit scores to get access to financing. During the first half of 2015, lenders gave out $56.4 billion in subprime auto loans, up 13% from the same period a year ago and up 181% from the first half of 2009, when the market for these loans bottomed out, according to credit-reporting firm Equifax Inc.
 
Subprime car loans account for 20% of the car-loan dollars given out from January through June, the highest share for the period since 2008, according to Equifax."



'via Blog this'

Housing - There's No Way Out | Zero Hedge

Housing - There's No Way Out | Zero Hedge:



"I have 3 observations.

•  The recovery in total starts since 2010 has regained less than the post 1972 average. 
• Multifamily starts are near the peak levels of the 1978-87 decade, which is to say, nearing “as good as it gets,” and unlikely to be additionally accretive for the US economy. 
• There is no single family housing market. It has recovered only to 1982 recession levels. Prior to the 2008-2012 housing depression, that was the worst housing market in the US since single family starts reporting began in 1959. The single family housing industry in the US is still in a depression."

'via Blog this'

Draghi Dreams Extend US Stock-Buying-Frenzy To Best Since 2011 | Zero Hedge

Draghi Dreams Extend US Stock-Buying-Frenzy To Best Since 2011 | Zero Hedge:



"And all that mattered was what USDJPY did..."



'via Blog this'

Nasdaq Futures Soar After Microsoft, Google, Amazon And AT&T All Beat, Surge | Zero Hedge

Nasdaq Futures Soar After Microsoft, Google, Amazon And AT&T All Beat, Surge | Zero Hedge:



"The "old economy" may be on the verge, if not already in a recession, but the "virtual/advertising economy", especially the one connecting the smart phone in your hand to some cloud, is thriving, and as a result Nasdaq is soaring after hours."



'via Blog this'

DOJ Closes Lois Lerner Investigation Without Charges | Zero Hedge

DOJ Closes Lois Lerner Investigation Without Charges | Zero Hedge:



Confirming once again that the U.S. has full devolved into a total banana republic, moments ago CNN reported that the US Department of "Justice" is closing its two-year investigation into whether the IRS improperly targeted tea party and other conservative groups. There will be no charges against former IRS official Lois Lerner or anyone else at the agency, the Justice Department said in a letter.







 "The DOJ's finding:

 The probe found "substantial evidence of mismanagement, poor judgment and institutional inertia leading to the belief by many tax-exempt applicants that the IRS targeted them based on their political viewpoints. But poor management is not a crime."
 
"We found no evidence that any IRS official acted based on political, discriminatory, corrupt, or other inappropriate motives that would support a criminal prosecution," Assistant Attorney General Peter Kadzik said in the letter. "We also found no evidence that any official involved in the handling of tax-exempt applications or IRS leadership attempted to obstruct justice. Based on the evidence developed in this investigation and the recommendation of experienced career prosecutors and supervising attorneys at the department, we are closing our investigation and will not seek any criminal charges.""



'via Blog this'

Goodbye Middle Class: 51% Of All American Workers Make Less Than $30,000 A Year | Zero Hedge

Goodbye Middle Class: 51% Of All American Workers Make Less Than $30,000 A Year | Zero Hedge: "

-38 percent of all American workers made less than $20,000 last year.

-51 percent of all American workers made less than $30,000 last year.

-62 percent of all American workers made less than $40,000 last year.

-71 percent of all American workers made less than $50,000 last year."



'via Blog this'

Truth Is Being Suppressed By The Tools Of Money | Zero Hedge

Truth Is Being Suppressed By The Tools Of Money | Zero Hedge:



"Today the top 0.1% of households now control an equivalent amount of the wealth as the bottom 90%. Since 1973, real family income for the top 1 percent has grown over 150% while incomes for the lowest 20% of earners has remained stagnant. The median household income adjusted for inflation in 2011 was just below its level from 1989 and $4,000 lower than in the year 2000."



'via Blog this'

Ferrari offers Wall Street a distraction, major earnings ahead

Ferrari offers Wall Street a distraction, major earnings ahead:



 "While S&P 500 companies are mostly beating on the bottom line, 60 percent have seen weaker revenue growth. Profits are expected to decline by about 4 percent this quarter, according to Thomson Reuters.
On the data front, no key releases are scheduled for Wednesday."



'via Blog this'

Insurance premiums: Is $100 the next Obamacare hurdle?

Insurance premiums: Is $100 the next Obamacare hurdle?: "A large majority of adults say "$100 a month or less" is the highest monthly premium they can afford to pay for health insurance in 2016, according to a survey released Wednesday.

The HealthPocket.com report found that 57 percent of respondents named that price range when asked about coverage affordability. The second-most common answer was $200 per month, which was the response of just 17 percent of respondents."



'via Blog this'

Banks Turn Down Deposits As Stealth NIRP Takes Hold | Zero Hedge

Banks Turn Down Deposits As Stealth NIRP Takes Hold | Zero Hedge: "
U.S. banks are going to new lengths to ward off a surprising threat to their financial health: big cash deposits.



 State Street Corp., the Boston bank that manages assets for institutional investors, for the first time has begun charging some customers for large dollar deposits, people familiar with the matter said. J.P. Morgan Chase & Co., the nation’s largest bank by assets, has cut unwanted deposits by more than $150 billion this year, in part by charging fees. 



 
The developments underscore a deepening conflict over cash. Many businesses have large sums on hand and opportunities to profitably invest it appear scarce. But banks don’t want certain kinds of cash either, judging it costly to keep, and some are imposing fees after jawboning customers to move it.
 
The banks’ actions are driven by profit-crunching low interest rates and regulations adopted since the financial crisis to gird banks against funding disruptions.
 
The latest fees center on large sums deemed risky by regulators, sometimes dubbed hot-money deposits thought likely to flee during times of crises. Finalized last September and overseen by the Federal Reserve and other regulators, the rule involving the liquidity coverage ratio forces banks to hold high-quality liquid assets, such as central bank reserves and government debt, to cover projected deposit losses over 30 days. Banks must hold reserves of as much as 40% against certain corporate deposits and as much as 100% against some deposits from hedge funds."



'via Blog this'

Strategist: We're stuck in a 'Jerry Maguire' economy

Strategist: We're stuck in a 'Jerry Maguire' economy: "The Fed now faces the critical challenge of being the first major developed nation to return to normal monetary policy conditions following the era of quantitative easing, Schlossberg said.

"No central bank has been able to come back from QE, as far as we know in our history right now," he said. "The Fed is going to have to be first one to actually come out of QE.""



'via Blog this'

The September Jobs Report Was Even Worse: U.S. States Lost A Total Of 22,000 Jobs | Zero Hedge

The September Jobs Report Was Even Worse: U.S. States Lost A Total Of 22,000 Jobs | Zero Hedge: "As it turns out the sum was far greater than the parts, because according to today's BLS breakdown of jobs by state, not only did more than half, or 28, states lose jobs in September, but the total number of jobs losses, at 120,000, was about 20% more than the cumulative job gains of 99,000.

How that -21,000 total job loss when summing across all states compares to the alleged gain of 143,000 jobs at the consolidated level reported two weeks ago, we'll leave to the reader to decide, suffice to say that any and all data coming out of the BLS and not making sense, has become the norm."



'via Blog this'

Think your rent's too darn high? Just wait

Think your rent's too darn high? Just wait: "Think your rent's too darn high? Just wait"



'via Blog this'

NAHB homebuilders index highest in 10 years

NAHB homebuilders index highest in 10 years: ""Lower price point builders have outperformed the sector on numerous verticals this year, and we believe this outperformance should continue as home builders are rewarded for strong volumes (externally and organically) in the market as credit expansion continues to play a big factor," Compass Point analysts wrote in the report."



'via Blog this'

The Most Endangered Jobs of 2015 | CareerCast.com

The Most Endangered Jobs of 2015 | CareerCast.com: "Technology has had a major impact on several other jobs ranked among the most endangered jobs of 2015. More Americans choose to correspond via email or text message, dramatically slashing the amount of mail and reducing the need for postal services. Programs like PayPal also allow for people to electronically transfer funds they would have otherwise sent through the mail."



'via Blog this'

The Latest Evidence That Global Trade Has Collapsed: India's Exports/Imports Plunge By 25% | Zero Hedge

The Latest Evidence That Global Trade Has Collapsed: India's Exports/Imports Plunge By 25% | Zero Hedge:



"And so India finds itself in the same position as many other emerging economies in a world where trade is grinding to a halt: hoping that your own domestic demand for imported goods is even more abysmal than other countries' demand for the goods you export just so the current account doesn't collapse"



'via Blog this'

Is this the world’s most crowded trade?

Is this the world’s most crowded trade?:



"The liquidity of Nikkei futures can no longer adequately support the buying and selling of three leveraged Nikkei 225 ETFs trading on the Tokyo Stock Exchange, meaning that new money will no longer be allowed to flow into the ETFs, their operator, Nomura, announced late Thursday.

The incredible growth of these products — two of which are effectively short positions on the Nikkei, but the most popular of which replicated a leveraged long position — "indicates that long Japanese stocks and short yen could be the most crowded trade in the world," investor and CNBC contributor Brian Kelly wrote Thursday.

That means, in turn, that "if and when everyone decides to close that trade, the exit could be ugly," Kelly continued."



'via Blog this'

Repossessions spike 66% as foreclosure crisis lingers - But all is well....

Repossessions spike 66% as foreclosure crisis lingers: "Bank repossessions, the final stage of the foreclosure process, jumped 66 percent year over year in the third quarter of this year, according to RealtyTrac, a foreclosure sales and analytics company. It's the largest annual rise ever recorded in bank repossessions by RealtyTrac. More than 123,000 homes went back to the bank in just three months."



'via Blog this'

Initial Jobless Claims Plunge To 42 Year Lows, Despite Surging Job Cuts | Zero Hedge

Initial Jobless Claims Plunge To 42 Year Lows, Despite Surging Job Cuts | Zero Hedge: "Exhibit 3 shows our calculated breakeven rate for jobless claims, which we derived using data from the monthly JOLTS reports through July (we smoothed the breakeven rate for the purposes of this graph). Over the last few years, the breakeven level of jobless claims has steadily declined, reflecting an increase in job market separations (including quits) and a lower benefit take up rate. These trends were partly offset by an increase in gross hires. While it’s encouraging that unemployment insurance claims remain very low, they are not a sufficient indicator of labor market conditions. And at the moment, the raw level likely overstates the underlying pace of job growth. The gap between claims and their estimated breakeven rate—likely a better indicator of job market health than claims alone—points to payroll growth of about 160-200k per month, or only slightly above the run rate over the last two months."



'via Blog this'

US jobless claims fall 7K, revisit 42-year lows - And CNBC idiots say .....!!! - Truth in next post

US jobless claims fall 7K, revisit 42-year lows: "Initial claims for state unemployment benefits fell 7,000 to a seasonally adjusted 255,000 for the week ended Oct. 10, the Labor Department said on Thursday. Claims were last at this level in July, which was the lowest since November 1973."



'via Blog this'

US producer prices post biggest decline in 8 months

US producer prices post biggest decline in 8 months: "U.S. producer prices in September posted their biggest decline in eight months as the cost of energy products fell for a third straight month, pointing to tame inflation that could argue against an interest rate increase this year.

The Labor Department said on Wednesday its producer price index fell 0.5 percent, the largest drop since January, after being unchanged in August. In the 12 months through September, the PPI fell 1.1 percent after declining 0.8 percent in August.

It was the eighth straight 12-month decrease in the index. Economists polled by Reuters had forecast the PPI slipping 0.2 percent last month and dropping 0.7 percent from a year ago."



'via Blog this'

US retail sales rose 0.1% in Sept vs 0.2% increase expected

US retail sales rose 0.1% in Sept vs 0.2% increase expected: "Retail sales excluding automobiles, gasoline, building materials and food services slipped 0.1 percent after a downwardly revised 0.2 percent gain in August. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product."



'via Blog this'

Market on track for THIS bullish trend: Strategist - Market Call on trend

Market on track for THIS bullish trend: Strategist: "The stock rally that has taken hold over the past week could be a sign that markets are in the midst of a bullish trend, Jason Pride, director of investment strategy at Glenmede Trust, said Friday."



'via Blog this'

According To Bernanke, This Was The "Biggest Impact Of QE" | Zero Hedge

According To Bernanke, This Was The "Biggest Impact Of QE" | Zero Hedge: "Are you ready for this... are you sitting down... you better be sitting down. Here it comes

BERNANKE SAYS BIGGEST IMPACT OF QE WAS TO 'CREATE JOBS'
just :0

 "







'via Blog this'

US weekly jobless claims at 263,000 vs. 273,000 estimate - HAHAHAHA !!!

All is fixed. We should be good to go from here !!!









US weekly jobless claims at 263,000 vs. 273,000 estimate: "The number of Americans filing new applications for jobless benefits fell more than expected to a near 42-year low last week, pointing to ongoing tightening in the labor market despite the recent slowdown in hiring.

The data released on Thursday provides a more upbeat check on the health of the labor market after last week's monthly employment report increased doubts the Federal Reserve would raise interest rates by the end of this year."



'via Blog this'

Amazon super powers Web services with data analytics

Amazon super powers Web services with data analytics: "Amazon Web Services is launching its most aggressive cloud data analytics software tool to date. The company unveiled "QuickSight," on stage Wednesday at AWS re:Invent, the company's annual convention in Las Vegas.

The move further emphasizes how Amazon sees cloud computing as crucial to its future. QuickSight is designed to make data analytics available and understandable to any employee making business decisions, no matter how technically advanced their skill level."



'via Blog this'

How Two Guys Lost God and Found $40 Million - Bloomberg Business

How Two Guys Lost God and Found $40 Million - Bloomberg Business:



"Zeines teamed up for a time with a trader named David Glass, who’d just pleaded guilty to insider trading and was famous in the cash-advance industry for inspiring the 2000 movie Boiler Room. Glass recruited the brokers, and Zeines funded the advances with his Second Source earnings, at rates as high as 750 percent annualized. The money was so good, Hurwitz was lured back; after about a year, everyone tired of sharing the profit. The two friends broke up with Glass in 2011 and started their own company, called Pearl Capital, after the street their building was on."



'via Blog this'

Safe Harbor Data-Sharing Pact Struck Down by EU Top Court - Bloomberg Business

Safe Harbor Data-Sharing Pact Struck Down by EU Top Court - Bloomberg Business: "A trans-Atlantic pact that potentially allows U.S. spies to get their hands on European citizens’ private data was declared invalid by the EU’s highest court, in a ruling that threatens to plunge Internet companies into a legal limbo.
Judges at the European Union’s top court struck down the so-called safe-harbor accord after an Austrian law student complained about how U.S. security services can gain unfettered access to Facebook Inc. customer information sent to the U.S."



'via Blog this'

This trend will someday be a $2 billion market - Esports and Gaming

This trend will someday be a $2 billion market: "ESports, watching others play video games in tournaments and, in some cases, betting on them, is one of the fastest-growing under-the-radar trends in media and entertainment, estimated to grow nearly 50 percent annually over the next five years into a multibillion dollar market."



'via Blog this'

South Carolina flood losses: $1 billion and rising

South Carolina flood losses: $1 billion and rising: "More than 2 feet of rain fell in some spots, prompting descriptions of a "1,000-year flood" — not because it historically happens that infrequently, but because the odds of it are so small that statistically it should only happen once a millennium. "



'via Blog this'

German industry orders fall on weak non-euro zone demand | Reuters

German industry orders fall on weak non-euro zone demand | Reuters:



"Contracts for German goods declined by 1.8 percent on the month, said the economy ministry. A Reuters poll had forecast a rise of 0.5 percent.

The data enhances a picture of waning demand from abroad, especially China and other emerging markets. That suggests the strong exports that supported growth in the first half could lose momentum."



'via Blog this'

Treasury Sells 3-Month Bills At 0% Yield For First Time Ever | Zero Hedge

Treasury Sells 3-Month Bills At 0% Yield For First Time Ever | Zero Hedge: "That is a 0% yield - for the first time ever - lower even than the auction right after Lehman's bankruptcy in Nov 2008."



'via Blog this'

Peak Manipulation: Resorting To Contradictory Headlines To Lift Stocks | Zero Hedge

Peak Manipulation: Resorting To Contradictory Headlines To Lift Stocks | Zero Hedge:



"When stocks absolutely and completely have to go up, there is only one thing for it: the spurious headline from Nikkei (aka the new owner of the Financial Times).

It is 2am in Japan but still, after Thursday's headline that:

 BOJ IS SAID TO SEE LITTLE IMMEDIATE NEED FOR ADDING STIMULUS

It is now time for the diametrically opposite:

 BOJ MAY NEED TO EASE AGAIN WITH FED DELAY, NIKKEI SAYS

and sure enough,



USDJPY jerks higher and US equities hit the day's highs."







'via Blog this'

Biggest Short Squeeze In 4 Years Leads To Longest Winning Streak Of 2015 | Zero Hedge

Biggest Short Squeeze In 4 Years Leads To Longest Winning Streak Of 2015 | Zero Hedge: "Biggest Short Squeeze In 4 Years Leads To Longest Winning Streak Of 2015"



'via Blog this'

Rally on! Dow soars 300; Nasdaq ends in the green for 2015

Rally on! Dow soars 300; Nasdaq ends in the green for 2015: "Rally on! Dow soars 300; Nasdaq ends in the green for 2015





 Evelyn Cheng | @chengevelyn
31 Mins Ago
CNBC.com



'via Blog this'

Homes as ATMs: It's starting again

Homes as ATMs: It's starting again: "Mortgage holders have gained about $1 trillion in home equity collectively over the past year. On an individual basis, borrowers doing cash-out refinances are taking an average $65,000, which is comparable to what borrowers did in 2006, the height of the last housing boom. While the jump is significant, the volume is still nowhere near where it was back then. In fact, volume is still 80 percent below where it was at the peak in 2005."



'via Blog this'

Dow Surges 650 Points Off "Dismal Jobs Data" Lows, Small Caps Up 5%! | Zero Hedge

Dow Surges 650 Points Off "Dismal Jobs Data" Lows, Small Caps Up 5%! | Zero Hedge: "Small Caps are up 5% off post-payrolls lows and The Dow is up over 650 points as the lower-for-longer, please-give-us-QE4 panic-buying ramp continues... and all this with no Bullard (for now).

Squeeeeeeeze...."



'via Blog this'

Former Fed Chair Says More Bankers Should Have Gone to Jail | TIME

Former Fed Chair Says More Bankers Should Have Gone to Jail | TIME: "“It would have been my preference to have more investigation of individual actions, since obviously everything that went wrong or was illegal was done by some individual, not by an abstract firm,” the Bernanke told USA Today in an interview published on Sunday."



'via Blog this'

Turnaround! Stocks stage massive swing

Turnaround! Stocks stage massive swing:



 "The news, which raised fresh fears about a slowdown in the U.S. economy amid a global slump and fresh questions about U.S. interest rate policy, initially sent the Dow down 258 points, or 1.5%.

But at the close, the Dow was up 1.2%, a 200-point gain for the day the day and a 458-point reversal from the low that CNBC said was the biggest such swing in four years."



'via Blog this'

Dow, S&P close up more than 1%, post biggest reversal in 4 years

Dow, S&P close up more than 1%, post biggest reversal in 4 years: "U.S. stocks closed more than 1 percent higher Friday, recovering from an initial decline of more than 1.5 percent, as investors digested higher oil prices and a weaker-than-expected jobs report.

"The poor employment report put a footing to the market because it provided a way for the market to understand where it is," said Robert Pavlik, chief market strategist at Boston Private Wealth. It "really did accomplish something even though it was weaker-than-expected. ... Now you have a market that I see is on better footing going into earnings season."
The major averages closed at session highs, with the Dow Jones industrial average up 200 points after earlier falling as much as 258 points."



'via Blog this'

The Farce Is Complete: Stocks Soar Most In 4 Years As US Job Market Disintegrates | Zero Hedge

The Farce Is Complete: Stocks Soar Most In 4 Years As US Job Market Disintegrates | Zero Hedge:



"But there was only one thing driving US equities today... USDJPY, which got the momo going:"



'via Blog this'

California roars back, but there's a 'dark side'

California roars back, but there's a 'dark side': "California was hit hardest by the recession, but the Golden State has come roaring back with a vengeance. A new tech boom, the housing recovery and a temporary tax increase approved by voters under Proposition 30 have led California out of a deficit and into a budget surplus. Unemployment has fallen from a peak of 12.4 percent to 6.1 percent."



'via Blog this'

Japanese Yen Manipulation in real time to prop up the stock market - When all else fails this is how you do it - in one pic

The Chart on the LEFT is the USD/JPY pair on a 5 minute chart.
The Chart on the RIGHT is the Nasdaq December Futures Contract.

At 10.00 am on 10/2/15 it was "ignition" with the Yen shorters. Almost instantly the market rallied. And the idiots on CNBC are looking for some good reason it happened....although they are well aware of what really happened.

Treasury Yields Are Crashing | Zero Hedge

Treasury Yields Are Crashing | Zero Hedge:



 "Bloodbath for a near record short net Treasury speculative position as rate-hike odds collapse and the entire UST curve plunges. The belly is collapsing 13-15bps (biggest drop in 5Y and 7Y yields since January) and the long-end is dropping significantly.  Between the 10Y highs of 2.0597% and lows of 1.9022%, the drop was 15.75bp - that is the biggest intraday drop since Sep 18, 2013, the day the Fed did not Taper."



'via Blog this'

Silver Spikes To Six-Week Highs On Heavy Volume - Biggest Jump Since Dec 2014 | Zero Hedge

Silver Spikes To Six-Week Highs On Heavy Volume - Biggest Jump Since Dec 2014 | Zero Hedge: "Precious metals are angrily bid this morning (even as copper and crude tumble) after the dismal US jobs data sent the USD reeling and raised expectations for moar QE down the line. Silver is up 5% on the day - the biggest daily jump since Dec 1st 2014 and gold is up 2.2% - its best day since April."



'via Blog this'

Payrolls Disaster: Only 142K Jobs Added In September With Zero Wage Growth; August Revised Much Lower | Zero Hedge

Payrolls Disaster: Only 142K Jobs Added In September With Zero Wage Growth; August Revised Much Lower | Zero Hedge: "And so the "most important payrolls number" at least until the October FOMC meeting when the Fed will once again do nothing because suddenly the US is staring recession in the face, is in the history books, and as previewed earlier today, at 142K it was a total disaster, 60K below the consensus and below the lowest estimate.

Just as bad, the August print was also revised far lower from 173K to 136K. And while it is less followed, the household survey was an unmitigated disaster, with 236,000 jobs lost in September."



'via Blog this'

US created 142K jobs in Sept vs 203K expected

US created 142K jobs in Sept vs 203K expected:



"The U.S. economy created 142,000 jobs in September, a number that missed expectations and could cool expectations that the Federal Reserve will start raising interest rates soon.

Unemployment held at 5.1 percent, according to the Labor Department. A separate member that includes those who are working part-time for economic reasons or have not looked for employment fell to 10.0 percent.



 Economists had been expecting the report to show 203,000 new jobs, from the downwardly revised 136,000 in August (from the originally reported 173,000).

Fed officials have been keeping a close eye on the jobs number for clues about when it would be appropriate to raise interest rates for the first time in more than nine years. The unemployment rate has been declining steadily, but that has come in significant part due to the lowest labor force participation rate since the late 1970s."



'via Blog this'

CNBC - Everything is A-OK. Real world - Falling apart. 3 Headlines - Below

CNBC Headline



Fiat Chrysler sales jump 14 pct amid big sector expectations:



 ""The U.S. is adding jobs, disposable income is rising, energy prices and interest rates remain low and business continues to invest, but the fact remains this has been a slow recovery," said Mustafa Mohatarem, GM's chief economist.

"The economy still has room to grow and so do auto sales, particularly now that the millennials are entering the workforce and starting households," he added."



GM Channel stuffing obviously at all time high





Zero Hedge Headline at exactly the same time



http://www.zerohedge.com/news/2015-10-01/does-not-compute-dol-continues-paint-rosy-jobless-claims-picture-challenger-sees-sur

Even more curious was the drop in Continuing Claims which declined from 2244K to just 2191K, below the 2,230K expected, suggesting tomorrow's NFP report should have no problem priting above 200K.

Which on the surface is great... and then one looks at the Challenger Job Cuts report released just an hour earlier, which painted a dramatically different picture. From theChallenger report:

The third quarter ended with a surge in job cuts, as U.S.-based employers announced plans to shed 58,877 in September, a 43 percent increase from the previous month, according to a report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The September total was third largest of the year behind July (105,696) and April (61,582). It was 93 percent higher than the 30,477 planned layoffs announced the same month a year ago.

In all, 205,759 job cuts were announced in the third quarter, making it the largest job-cut quarter since the third quarter of 2009, when planned layoffs totaled 240,233.

It gets even more confusing when looking at the full year trend, where one notices that so far in 2015, employers have announced 493,431 planned layoffs, 36 percent more than the 363,408 cuts tracked from January through September a year ago. The year-to-date total is actually 2.0 percent higher than the 2014 year-end total of 483,171. "The Q3 total was 40 percent higher than the previous quarter’s 181,213 job cuts. It was 75 percent higher than the third quarter of 2014, when 117,374 job cuts were announced."

http://www.zerohedge.com/news/2015-10-01/atlanta-fed-slashes-q3-gdp-estimate-50-just-09



Yesterday, when the Atlanta Fed boosted its Q3 GDP tracker from 1.4% to 1.8%, the permabulls were crowing how the global recession has been called off. We are confident they will be mysteriously mute, however, following today's dramatic revision lower which cut the number for the current quarter by half to just 0.9% as a result of the previously reported tumble in the advance report on U.S. international trade which slashed the Atlanta Fed's model contribution of net exports to third-quarter real GDP growth by 0.7 percentage points to -0.9%.



'via Blog this'