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.

Important Economic Speakers

11-22-2013 5-07-48 PMThe opening price on the E-mini S&P market today was (1784.25). At 3:20 p.m. US/Eastern time, the day’s high of (1795.50) was reached. The day’s low point of (1783.50) was hit about 5 minutes after market opening . According to the Bloomberg Economic Calendar, there were two important speakers today. Esther George, the Kansas City Federal Reserve Bank President, gave a speech on bank supervision at Bank of France conference in Paris. Daniel Tarullo, a member of the Board of Governors of the United States Federal Reserve Board since January 28th, 2009, gave a speech on shadow banking to Economic Policy Institute in Washington. There was no indication that the speakers had any significant impact on the market.

Important Speeches on the Econony

11-1-2013 5-07-03 PMThe opening price on the E-mini S&P today was (1755). At 10:10 a.m. US/Eastern, the day’s high was (1761.25). The markets low price point, (1747) was hit today at 12:20 p.m. US/Eastern. There were three important speakers today reported on the Bloomberg Economic Calendar. James Bullard, the St Louis Federal Reserve Bank President gave a speech on the economy and monetary policy in St Louis. Narayana Kocherlakota, the Minneapolis Federal Reserve Bank President gave opening remarks at healt conference in St. Paul. Jeffrey Lacker, the Richmond Federal Reserve Bank President gave a speech on interdependence in central banking in Philadelphia. There was no indication that the speakers had any significant impact on the market.

Jobless Claims

10-31-2013 5-11-38 PMToday’s E-mini S&P opening price was (1756.50). The market price dipped to (1750.25) for the day’s low at 10:40 a.m. US/Eastern time. The market day’s high of (1764) was hit at 2:35 p.m. US/Eastern time. In the week of October 26 jobless claims at 340,000, which is 10,000 below the previous week. Government contractors who were filing claims during the government shutdown in the first half of the month and California, with counting problems that were tied to a computer changeover, are no longer inflating these factors. The 4-week average has risen to 356,250 in the latest week, which is the highest reading since April. In the latest data which is for the October 19 week continuing claims are up 31,000 to 2.881 million. The 4-week average is down 10,000 in the latest week to 2.879 million which, is a bit above the month-ago trend. For insured workers, the unemployment rate is unchanged at 2.2 percent which is just up from the recovery low.

Retail Sales Report

oct11chart1The opening price on the E-mini S&P today was (1683). A few minutes right after opening, there was a low of (1682.50). Today’s high was (1698.75) at 1:10 p.m. US/Eastern time. There was a Retail Sales report schedule for be released today that would have a significant impact on the market. The release was delayed due to the temporary shutdown of the US government. The previous data reports that there was an increase of 0.2 percent in the month of August after gaining 0.4 percent the month before. This has been the weakest gain in four months.