Discussion in 'Economics' started by ASusilovic, Jun 30, 2010.
China's Shanghai Composite rises 0.2% to 2,403.34
Is this news that has led to the drop in the futures.
Almost certainly that was the news.
Highly anticipated number...
yea, tomorrow though there is tons of economic news to go through:
Jul 1 8:30 AM Continuing Claims 06/19 - 4500K 4510K 4548K -
Jul 1 8:30 AM Initial Claims 06/26 - 460K 458K 457K -
Jul 1 10:00 AM Construction Spending May - -1.0% -0.9% 2.7% -
Jul 1 10:00 AM ISM Index Jun - 59.0 59.0 59.7 -
Jul 1 10:00 AM Pending Home Sales May - -12.5% -10.5% 6.0% -
Jul 1 2:00 PM Auto Sales Jun - NA 4.0M 3.9M -
Jul 1 2:00 PM Truck Sales Jun - NA 5.1M 5.2M -
Extreme volatility in my opinion tomorrow!!!!
Some of these economic numbers are so low, pending home sales for example, the market expects -10.5% and the briefing forecast is for -12.5%, one month prior it was +6%. Talk about numbers being all over the place, but I guess that's what happens when you have $8,000 worth of tax credits being handed out for free.
If at least 4/4 of these numbers miss this market is going to topple over tomorrow.
Yes, the most ridiculous part about it is that Chinese PMI is running comfortably above 50 and business owners are reporting a backlog of unfinished work of 14 month !!!!! But hey, we are in world is going under syndrome...
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