Financial Sector Job-Cuts

12-5-2013 4-48-12 PMThe E-mini S&P opening price today was (1788). Today, the low price (1782) was hit at 3:05 p.m. US/Eastern time. The high price (1792) was reached at 10:15 p.m. Eastern time. The Challenger Job-Cut Report is a monthly report that counts and categorizes announcements of corporate layoffs based on mass layoff data from state departments of labor. This data must be analyzed with caution because it doesn’t distinguish between scheduled layoffs for the short-term or the long term, or whether job cuts are handled through attrition or actual layoffs. The report also does not include jobs eliminated in small batches over a longer time period. For the report in November this year, layoff announcements continue to run at 2-year highs, at 45,314. For the past four months, averages have been about 45,500. This is well above the prior average over a four month period, at 38,000. Most of these announcements are coming from the financial sector due to declinging foreclosures reducing staffing needs. The results of today’s report are no good indication for tomorrow’s big employment report.

EIA Natural Gas Report

11-21-2013 3-18-05 PMOn the the E-mini S&P, the opening price was (1784.25). The day’s high price at (1795.50) was reached at 3:20 p.m. US/Eastern Time. Today, the low price (1783.50) was hit about 5 minutes after the market opening. Each week, the Energy Information Administration (EIA) gives a report on natural gas stocks in underground storage for the U.S. and three regions of the country. This is important information for investors because prices for natural gas products are determined based on the level of inventories. In this week’s report, there was a drop of 45 billion cubic feet leaving 3,789 bcf of natural gas in inventories in the week of November 15. The expectation this week was a draw of about 35 bcf. This report has little or no impact on the market.

Treasury Budget

10-30-2013 chartThe opening price on the E-mini S&P today was (1769). About five minutes after the opening around 9:35 a.m. US/Eastern time, the day’s high was reached at (1770.50). The day’s low of (1751.75) was hit at 2:30 p.m. Eastern time. There was a big improvement in the deficit announced with the Treasury’s post of a $75.1 billion surplus in the month of September. In the fiscal year of 2013, the deficit fell 37 percent to $680 billion. Individual taxes led the 13.3 percent rise of receipts. Defense spending is down 6.3 percent, bringing The total decline of 2.3 percent.

Economic Calendar

10-18-2013 chart2Today the opening price on the E-mini S&P was (1733.75). The day’s low was (1730.25) at 10:35 a.m Eastern time. The day’s high of (1740.25) was reached at 2:50 p.m. Eastern time. On the Bloomberg Economic Calendar today, there were no significant reports that would indicate any major market movement. In the morning, Richmond Federal Reserve Bank President Jeffrey Lacker gave a speech where he spoke on the issue of “too big to fail” for financial institutions. He said it would be a “daunting” task to develop a resolution plan for allowing big banks to fail. Later in the day New York Fed President William Dudley was scheduled to speak; however, he did not address monetary policy.

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