U.S. stock futures rise ahead of jobless claims, ECB meeting

Market Watch ^ | Sept 3, 2015 | Sara Sjolin

[TruthInThoughtWordAndDeed]

The big crash comes on September 13/14.

[JohnG45]

U.S. stock futures were comfortably in positive territory Thursday ahead of U.S. jobless claims data.

Of what value are these fictitious numbers to the Stock Market?

[expat_panama]

Happy Claims day everyone!  Looking good after yesterday's solid 2% stock index gains (well, in shrinking trade) along w/ continuing sideways metals prices.   Right now @ an hour and a half before opening futures see stock indexes + 0.16% and metals +0.40%.   Complete announcement docket:

7:30 AM Challenger Job Cuts
8:30 AM Initial Claims
8:30 AM Continuing Claims
8:30 AM Trade Balance
10:00 AM ISM Services
10:30 AM Natural Gas Inventories

--and we also can hang around these new threads:

• 'I See A Labor Market That Is Looking Hotter And Hotter'
• Gartman Does it Again: Stocks Set To Surge As Newsletter Bulls Hit 6 Year Low
• Changing America By Changing Its Demographics
• Culture Trumps Economics, cont... Mark Steyn

[Nervous Tick]

>> after the Federal Reserve’s Beige Book painted a more optimistic economic picture of the U.S. economy

I’d prefer they stop painting art and do more hard science, but what do I know.

[expat_panama]

The big crash comes on September 13/14.

thot that was supposed to happen on 9/11...

[cuban leaf]

Zactly. Last week’s fall was too early. It will bounce around and maybe even go up a bit before that.

[Jack Hydrazine]

Jeff Berwick-Nothing but Black Swans Ahead
https://www.youtube.com/watch?v=9DT4qrrRe7Q

[expat_panama]

prefer they stop painting art and do more hard science,

We need to read what the Fed says and forget about what other say the Fed says.  Here's yesterday's beige book.   It says:

Wages were relatively stable in most Districts, with slight to moderate increases since the last report. However, several Districts reported increasing wage pressures caused by labor market tightening. St. Louis reported almost three-fifths of responding firms had raised wages in the last three months. New York cited increased pressure on starting salaries, while Cleveland noted intensifying wage pressure in the construction, retail, and transportation sectors. San Francisco reported upward wage pressures for skilled workers in the IT, information security, and construction sectors. In the Kansas City District, wage growth slowed in many sectors despite selected labor shortages. Dallas noted flat wages, but also wage pressures for some specialty skills.

Both input and output prices remained stable in most Districts. The Boston, New York, Philadelphia, Cleveland, Atlanta, Chicago, St. Louis, Minneapolis, Dallas, and San rancisco Districts all reported that prices were mostly flat or had increased only slightly. In Richmond, retail and finished goods prices accelerated slightly, while in Kansas City prices were mixed, with retail input and output prices increasing at a modest pace while manufacturing and crop prices decreased moderately.

Labor market's not 'tight' enough to lift wages and econ activity isn't growing enough to cause inflation.  Those are the facts, although the Fed may raise rates anyway.

[expat_panama]

Of what value are these fictitious numbers to the Stock Market?

Doesn't matter if you and I like the numbers, what matters is if other folks believe them and then decide that our investments are not longer worth buying from us.

[Nervous Tick]

Google “shemitah”. Or if you’re pressed for time, here is one link more or less at random:

http://theeconomiccollapseblog.com/archives/tag/the-shemitah-year

Those who believe in a Shemitah-related financial correction are looking to 9/13.

I’m keeping an open mind (and a balanced financial position).

[Nervous Tick]

>> We need to read what the Fed says and forget about what other say the Fed says.

Point taken.

[stockpirate]

Still must retest the recent lows of last week.

[Lurkina.n.Learnin]

“We need to read what the Fed says and forget about what other say the Fed says.”

That’s just crazy talk. What are pundits for? You’re talking about the total collapse of hyperbole.

[jwalsh07]

You may as well just read the Brothers Grimm, their fairy tales are more entertaining.

[expat_panama]

...may as well just read the Brothers Grimm...

--as read which, futures? claims? ECB mtg? Marketwatch?

[expat_panama]

Ah! My bad, you were responding to my post 9 w/ the beige book.  What, you disagree about the notion that wages haven't gone up?

[expat_panama]

the total collapse of hyperbole.

Yeah, I was reading somewhere that someday it was going to swallow the entire universe if we didn't raise taxes on the rich.

[NonLinear]

Weekly Unemployment Claims

[jwalsh07]

No. Median wage has gone down along with purchasing power. Citing niche areas where wages have increased a penny is fairy tale stuff.