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This article was last updated on April 16, 2022
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 May PPI +0.2%, vs. Cons. +0.1%; Up 7.3% YoY; Up 0.2% Ex-Food & Energy. that PPI is only up over 7% gives the green signal to bulls today to attempt a bounce back rally. They want pop and maintain the gains, not pop and drop, or pop and glop. May Advance Retail Sales: -0.2%, vs. Cons. -0.5%; +0.3% Ex Autos & Gas. Good news for Wall Street again. Yep, retail sales were down, but not by as much as expected so that amounts to Wall Street cheer. In the parlance of the policy wonks, enjoy the bounce; it is likely to be ‘transitory’. Resistance ahead near the S&P 1285 area. CPI (Consumer price index) data is due from the federal government tomorrow. Is there something bettered than the CPI? The Billion Prices Project from M.I.T. economists gathers price data by continuously scouring the Web http://ow.ly/5gj3k. The key paragraph from this article: "The B.P.P. can also help keep governments honest. In much of the world, as a 2010 study of developing countries found, governments regularly manipulate economic data-downplaying inflation, overstating job growth, and the like. The B.P.P. makes that more difficult by providing an independent check on the official numbers." Click HERE to sign up for my free newsletter about the latest market trends. |
Other News and Notes ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Production Numbers All Argue for Investment in Precious Metals http://dlvr.it/WGmz6< Worth a read. No, fraudclosure is not about to go away, instead the situation is becoming critical for the Banksters: Bank of America : Schneiderman Begins Probe of Bank of America Securitization Fail – Firedoglake http://uxp.in/37507860 More fraudclosure developments: NY Appellate Division: MERS Does NOT Have The Right to Foreclose on a Mortgage in Default or Assign That Right to Anyone (click here). The People’s Bank Of #China Raises Reserve Requirement Ratio By 50 Basis Points http://goo.gl/fb/jWov1. Better than econ data?? China’s daily power generation averaged 13 billion kilowatthours from June 1 to yesterday, a 14.7% rise from same period in 2010. Spread between 10-year German bunds and Greek securities of a similar maturity was 1,402 BP yesterday, close to a record bloom.bg/lYZBTn. This as the Greeks sell 6 month T-nills today. Yikes. There is however talk of a finalized $80 bln loan extension in the works for Greece (kicking the can down the road). Small biz optimism hits 8-month low. Hiring plans go negative. http://read.bi/jugrTh Japan changes margin rules to squeeze Tepco shares up +24%. http://bloom.bg/l9vvki. Sexual bias ruling could hit Walmart for billions http://scanwall.st/jLN498. Pandora IPO ready to rock Wall Street By USA Today: http://tinyurl.com/6b5whqt. This fluff piece glosses over the fact the Pandora is losing money on every transaction. lol.
Things that most people don’t wish to believe, or don’t know about: Up to No Good: ‘New war likely on Bilderberg agenda’ http://youtu.be/tviCaODZ0zQ. |
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