Archive for March 3rd, 2010

ADP Employment & Challenger Job-Cut Reports

ADP Employment fell 20,000 in February vs. decline of a 22,000 in January. Challenger Job-Cut Report announced layoffs fell from 71,482 in January to 42,090 in February. If we rely on these reports as a indication of  nonfarm payrolls we could be heading for a better than (50,000) consensus reading on Friday. Chart 1. ADP […]

U.S. Petroleum Weekly – 3 March 2010

Crude oil stocks rose 4.0 million barrels for week ending 26 February; Gasoline stocks increased for 0.8 million barrels; Distillate stocks fell 0.8 million barrels; Propane/propylene stocks decreased 0.5 million barrels; Other oils fell 2.9 million barrels; Total crude oil and petroleum stocks fell 0.4 million barrels. Refinery utilization rose from 81.2% to 81.9%. Crude […]

New Greek Austerity

Greece government introduced yesterday a new austerity package and a tax increases. The value of the package is 4.8 billion of EUR. Half is aimed at spending cuts and half on tax increases. The tax increases will only ad to the dead spiral decreasing economic activity, and then again decreasing tax revenues… But that is […]

 

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