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August 1, 2008 – 6:47 am | by BizIntel
While it’s no surprise that unemployment continues to plague the US economy - we certainly don’t need more data to confirm the situation. However, in this market even bad news that’s as bad as analysts expect (and not worse) could be good news. That might just be the case with US unemployment data just released this morning.
July nonfarm payrolls fell by 51,000 and the rate of unemployment grew slightly to 5.7% (vs. 5.5% in June). While this is the highest rate in 4 years, at least it wasn’t as bad as the market was expecting - Dow futures are up ahead of the market open. Hey, I’m trying to look on the bright side of things here.
July 29, 2008 – 7:06 am | by BizIntel
After a two month delinquency in updates we’re back. And, wow - what a market to start writing about again. Since our last post in April, the S&P 500 lost 9% of its value while the Dow surrendered a hefty 11%. In fact, we are knee deep in recession as far as textbooks go - with the Dow crossing the 20% drop mark in early July. So, what now? To steal a line from the late great Douglas Adams - don’t panic. The slow market days of summer are the perfect time to step back and reassess the situation.
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April 16, 2008 – 7:02 am | by BizIntel
The US Bureau of Labor Statistics released March Consumer Price Index (CPI) data today, showing that inflation continues to be an issue for the US economy. Overall, prices increased 0.3% in March vs. February and 4% over the last twelve months.
Don’t be fooled by the so-called “core” inflation number which shows inflation of 0.2% and 2.4% respectively. The core number excludes food and energy items; two components which have seen the highest price growth and impact consumers the most. Inflation is a killer for economies, as higher prices weigh on corporate earnings and reduce the present value of future real cash flows.
More Housing Pain
Housing data out today also showed more of the same, as housing starts fell about 12% in March vs. February. March housing starts are also 37% lower than they were in March 2007. Good times.
April 8, 2008 – 5:58 am | by BizIntel
It’s no secret that international growth (especially in markets such as China and India) has been driving global energy demand. Per the Economist, worldwide energy consumption will grow about 3.5% by the end of 2008, and oil prices are expected to remain relatively high.
However, emerging markets such as Brazil are also playing a pivotal role on the supply side as well. With the recent discovery of the Tupi and Jupiter fields off the coast of Rio de Janeiro, Brazil could find itself among some of the largest holders of oil reserves in the world. The location of these reserves (deep water) is beneficial for leading oil services companies such as Noble Corp. (NYSE: NE).
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Tags: Stock Picks
April 4, 2008 – 6:59 am | by BizIntel
The Bureau of Labor Statistics announced unemployment jumped to 5.1% in March this morning, confirming investor fears that the US is in the throes of a recession. Per the data, non-farm payrolls fell by 80,000 in March, led by further declines in manufacturing, construction, and employment services.
Bad News Gets Worse
Of particular note is a decline of 35,000 jobs in professional and business services. This is unsettling for Wall Street, as these jobs had remained resistant to the declining job market until now.
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