At 7:50 a.m. futures are slightly up.
All in all it has been a remarkably quiet few days in the market. We'll take it. I think some of us are expecting to see it all drop with a vengeance. The corporate reports have been good, but its the jobs, where are the jobs.
Regardless, the government will be releasing its salient report on the employment picture for July on Friday. This is a highly anticipated report. I don't think anyone is expecting a miracle here.
CNN: Stocks set for a flat start
"Trading will be pretty light as investors continue to digest corporate earnings and look ahead to the July jobs report due Friday morning..."Reuters: Stock futures edge up ahead of jobless claims
A weekly report on unemployment claims comes out before U.S. markets open Thursday.
Investors have been anxious to see improvement in the jobs market with high unemployment remaining a major roadblock to a sustainable recovery. Worries that the pace of the recovery is slowing have also plagued investors of late.
4 comments:
Jobs? We don't need no stinkin jobs! That's what the investors and the Market is saying , isn't it?
I think that investors want to see job growth, but the market will go up if the corporations show profit inspite of low employment. The priority is the corporation always. Main street comes second. I suspect that if tomorrows numbers are bad, that the market drops for August.
The jobless morph magically into consumers when Corp. profits plummet. These same Corps. can keep on laying off people, but in the end it will come back to bite them in the ass. Remember, even the wealthy can only consume so much. They need customers. Poor people without jobs can't spend zip.
Yes, this was the main reason for increasing the unemployment benefits time span. That money gets circulated through the community. In a way unemployment benefits is another government stimulus. Probably one of the better ones because it does work at the community level rather than the big banks and big corps.
You are right and I can't figure this out except to think that the managers of our society somehow were willing to shed 10% of the workforce and had figured out that they could still make a profit. I have thought this all along.
Another thing that is also apparent and this contradicts what I just wrote, but corporations and Wall Street seem to be highly invested in the immediate now. Its the Zen of business. Its like there is no future, its all about maximizing the next day. There's no planning for the future. They react on Wall street on moment to moment information. The idea is that they hope it all stays within a range and the idea is the keep the ranges constant. Its very strange.
Post a Comment