Jobless Claims Lowest Since April 2008, CPI & Housing Starts Weaker, Building Permits Stay the Same

Consumer Price Index(MoM):   Survey:  0.1%    Actual: 0.0%   Prior:  0.0%  

CPI Ex Food & Energy(MoM):    Survey: 0.1%    Actual: 0.1%   Prior: 0.2%   

Housing Starts (MoM)%:    Survey: -0.7%    Actual: -4.1%    Prior:  9.3%    Revised:  9.1%

Building Permits:    Survey: 679K    Actual: 679K    Prior: 681K    Revised: 680K

Building Permits (MoM)%:    Survey: -0.2%    Actual:  -0.1%    Prior:  5.7%    Revised: 5.6%

Jobless Claims:  Survey:  384K    Actual: 352K   Prior: 399K    Revised:  402K   

Continuing Claims:  Survey: 3590K    Actual:  3432K    Prior:  3628K  Revised: 3647K

Bobbys Corner-Open Market-January.19.2012

Good Morning:

In some of the saddest corporate news in a long time-Eastman Kodak Co filed for bankruptcy protection from creditors this morning.
Kodak revolutionized photography-when it introduced the “Brownie Camera” over 100 years ago.  As the world moved to digital technology for cameras-Kodak was stuck with their film technology-and was never able to jump into the digital marketplace.  R.I.P.

Spain and France had very solid results and participation during today’s bond auctions.
European sovereigns will need to sell some $1 Trillion euros worth of debt this year-and we hope that the markets will be able to absorb all of this debt.  If it is priced right-the buyers will show up.  

Today we have data on CPI and Philly Fed.  We will also see data on jobless claims-which came very close to the majic 400K number last week.  It is expected to fall below 390K this morning.

Equity markets were higher-as are US futures at this time.

Gold, silver and Oil are all higher.

HAVE A GREAT DAY & GOOD LUCK

Plethora of 8:30AM US Data

US CPI Falls

US CPI Data Due at 8:30AM

US CPI Stays at Par, Housing Starts Improve and Building Permits Weaker

Housing Starts (MoM)%:    Survey: 3.3%    Actual: 15.0%    Prior: %    Revised: -7.0%

Building Permits:    Survey: 610K    Actual: 594K    Prior: 620K    Revised: 625K

Building Permits (MoM)%:    Survey: -2.4%    Actual: -5.0%    Prior: 3.2%    Revised: 4.0%

Eurozone Unemployment Slight Rise, Year over Year CPI Stays the Same

EUR Unemployment:  Survey:  9.9%   Actual: 10.0%    Prior:  9.9%   Revised: 10.0%

July vs June 2011 (Measured in %)
Belgium: 17.6 vs 18.1
Bulgaria: 27.0 vs 27.2
Czech Republic: 16.2 vs 16.7
Denmark: n/a vs 13.7
Germany: 9.5 vs 9.4
Estonia: n/a vs 21.8
Ireland: 28.3 vs 28.0
Greece: n/a vs n/a
Spain: 46.2 vs 45.7
France: 23.4 vs 23.1
Italy: 27.6 vs 27.9
Cyprus: n/a vs 19.6
Latvia: n/a vs n/a
Lithuania: n/a vs 33.1
Luxembourg: 13.3 vs 12.3
Hungary: 23.9 vs 24.6
Malta: 12.4 vs 12.3
Netherlands: 7.5 vs 7.1
Austria: 7.8 vs 7.8
Poland: 23.7 vs 24.3
Portugal: 27.2 vs 28.3
Romania: n/a vs 0.0
Slovenia: n/a vs 18.6
Slovakia: 32.9 vs 33.1
Finland: 20.4 vs 20.3
Sweeden: 21.6 vs 22.9
UK: n/a vs n/a

EUR CPI(YoY):  Survey: 2.50%   Actual: 2.50%    Prior: 2.50%

Bobbys Corner-Open Market-Aug.19.2011

Good Morning:

Welcome to Friday-after another roller-coaster week , and today looks like it is shaping up for another crazy ride). 
As worldwide equity markets continue to sink, investors seek the safe haven of gold,CHF and JPY.

With yesterday’s higher than expected CPI data (prices on the consumer level). any moves by the Fed  to grow the anemic US economy may be delayed as inflation seems to be taking hold. 

In other news, JP Morgan lowered their forecast for US growth. The forecast was lowered as the housing market continues to loose steam, and consumer spending stalls.  Deutsch Bank announced that they were cutting their forecast for growth in China.

With no major data from the US today-the markets attention will be focused on equities.  Most notably-European Banks are in the spotlight, and market participants are hearing that the Fed is making certain that European Banks in the US (whom the Fed overseas) do not have any funding difficulties.

HAVE A GREAT DAY-WEEKEND & GOOD LUCK

Bobby’s Corner will be off for a week (or so)-as I end the summer with a family vacation.

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