This week’s Macro Economic Summary talks a lot about the jobs report. Essentially, a move to temp or “Gig” jobs is forcing breadwinners to work two or more jobs to make ends meet. This economic turnaround barely looked over its’ shoulder, based on this week’s report. Interesting take on the global warming issue and China’s pollution issue too:
– China gets it together, Jobs Report beats big. Market gets what everyone said it needed, and it still sells off.
– China learning markets have a life of their own, suspends automatic closures, its stocks manage modest gains.
– US futures jump on China ‘success,’ jump further on Jobs Report. Surely a short covering rally was set. Didn’t happen.
– Stocks squander a bounce, close lower again.
– Jobs Report beats expectations, more people enter the workforce, but wages drop, hours worked are flat, temps surge, minimum wage workers hit an all-time high, multiple jobs holders surge.
– Wholesale inventories dive, sales dive more.
– Stock indices remain oversold, but the inability to even sport a modest short covering rally on purportedly good news underscores the bigger picture weakness, bounce or not.
Read more at: http://www.investmenthouse.com/frblog.php