Friday Doom!
Europe seems to be slipping into a stimulus-induced coma.
The euro’s trading 1.2324
The US is expecting some unexpected bad news
The May employment report, due at 8:30 a.m. ET Friday, is expected to show that about 150,000 jobs were added in May, above April’s 115,000 but below the 200,000-plus reported earlier in the year. The unemployment rate [cnbc explains] is expected to hold steady at 8.1 percent.
“It’s not really a testimony to strength in employment, and I think we’re still in a rocky period,” said Diane Swonk, chief economist at Mesirow Financial. Swonk reduced her forecast Thursday to 125,000 jobs in May from 150,000 after ADP’s private-sector payroll data showed just 133,000 jobs were added for the month.
Stock futures are currently down about 110 points.
Crude futures have dropped below $85 as China’s manufacturing has slowed in response to the mad rush to bankruptcy Recovery Summer.
Looks like I picked the wrong week…
Update: looks to be one of those “macro” down days, as commodities across the board are pretty much all down, too.
Update the Second: +69,000 That’s a really really bad number
Update the Third: and last month’s gain of 155k revised down to only 77k. This is really awful.
Biz, Nanny State, People, Politics | Mr. Bingley | 
June 1, 2012 6:48 am
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TEQUILA!
But Romney put his dog on the roof, racist. Everything’s fine because shut up.
Wot Gary said, dude.
Municipal bonds, Ted. Best investment in America!
‘fly, I don’t know about you but considering the waterheaded fools running my municipality I wouldn’t invest a plug nickel in their schemes.
Nor I, aelfheld… I was just quoting the movie.
69,000 jobs in a nation of 310,000,000? That’s what’s known as background noise.
It was rather funny on this morning’s news (KING 5 in Seattle). Listening to them and 69,000 new jobs means the economy is practically booming. BOOMING I TELLS YA!!!
Funny dat, David, as over here in Walla Walla, the headlines for today’s local fishwrap read: “Key Technology cuts dozens of jobs“.
Said company is a major private employer around here. And while they have had problems in the past, the timing is, as they say, “Not Good”.