Wednesday, August 3, 2011

Econodata Aug 3

Market was desperate for some good data. Well, we are getting some today in the form of services PMI from around the world, (Europe mostly, for a change). EZ, Geman, French, UK, and even Italian PMI came in slightly better than expected (with Italian still contracting though below 50). Also retail sales in EZ were much better than expected.
Is this a precursor for US ISM Non-Mfg @ 10 am edt? Also how about monthly retail comp. store sales on Thu? I know many will say: "no connection - two continents". But the fact is econodata has been traveling in bunches lately. Let's see...

ISM Non-Mfg lower than expected. Also factory orders lower than expected as well. Not good at all folks. My question is: when does market start to react to bad data as good for yet another big stimulus?? President Obama will want to start it now for his reelection. So far we are just dwindling down the 2nd half recovery theory.

No comments:

Post a Comment