ADP Employment Rose 187,000 In January
ADP Employment rose 187,000 in January vs. revised (down 50,000) gain of 245,000 in December.
Nonfarm payrolls on Friday (rule of thumb) could be close to 143.000 consensus.
Archive for February 2nd, 2011
Challenger Job-Cuts For January At 38,519
Challenger’s count of layoff announcements was reported at 38,519 in January vs. 32,004 in December.
Slight tick up.
MBA Mortgage Applications Up 11.3%
MBA mortgage applications rose 11.3%; Prior reading was a decrease of 12.9%; On year level MBA Basic Index is down 20.8%.
Morning Reading – Wednesday, February 2, 2011
*** FT Alphaville: Dear Nokia and Microsoft CEOs ***
*** FT Alphaville: Meredith Whitney and the muni fifth dimension ***
*** FT BeyondBRICs: Mubarak won’t run for re-election ***
*** FT BeyondBRICs: Russia’s oil windfall: how to spend it? ***
*** The Big Picture: 90/90 Down Days Followed by Rally, Then… ***
*** London Banker: Egypt, China and Famine Futures ***
*** Bond Vigilantes: Inflation Hedging for Long-Term Investors – the most important academic paper you will read this year ***
January U.S. Motor Vehicle Sales Unchanged At 12.53 Million SAAR
U.S. total motor vehicle sales for January remained unchanged at 12.53 million SAAR. On year level motor vehicle sales are up 16.3%.
Like with other consumer related parts of the economy auto purchases are steadily gaining ground.