Succinct Summations of Week’s Events (1/10/14)

January 10, 2014 4:00pm by

Succinct Summations week ending January 10, 2014

Positives:

1. ADP came in at 238k v expectations of 200k, its largest monthly increase since November 2012. (Attention Chicago guys: NFP did NOT confirm these strong numbers).
2. 10-year yield saw its biggest one-day decline since October, borrowing is cheaper, woo hoo (for bad reasons, I know)
3. Dennis Rodman, the gift that keeps on giving, is at it again in North Korea.
4. 6.7% unemployment rate is the lowest since Oct 2008
5. November NFP was revised up to 241k v the reported 203k (pending revisions, of course).
6. Initial jobless claims come in at 330k, 5k below expectations.
7. November U.S. trade gap shrank to the smallest since 2009, ‘Murka.
8. The Dow Transports are ripping, closing out new all-time highs, ditto for mid-cap stocks.

Negatives:

1. NFP reports a lousy 74k workers added, v estimates of 197k.
2. ISM services index fell to 53 v expectations of 54.7.
3. The S&P 500 is down 5 of the first 6 days of the year for the first time since 1991 (which finished up >25%)
4. One of Americas oldest stores, Sears, reported horrific numbers and is in a pile of trouble.
5. Estimates for customers security information breach keeps climbing at Target.
6. The Polar Vortex sucked.

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