WEEKLY MARKET DIGEST: WEAK DATA FROM CHINA TAKES STEAM OUT OF STOCK MARKET RALLY
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers.)
WEAKER THAN EXPECTED EMPLOYMENT DATA
July 6, 2012
June non-farm private payrolls came at 80K vs 105K consensus. Whisper number was around 120K – 136K.
Employment picture in the U.S. is weaker than expected.
The stock market should go down on this number however bulls will argue that this weak number increases the chances of QE3 and attempt to run up the market.
In our analysis, the number is not weak enough to warrant a QE.
Gold futures are at $1601, silver futures are at $27.54, and oil futures are $85.28.… Please click here or the title below to read more.
July 7, 2012