Friday, July 3, 2009

Unemployment Rate 9.5%

Well, we come to the end of a shortened market week, and have to say, Yesterday threw us some surprises. One surprised figure was the number of jobs on employers' payrolls fell by 467,000 in June, which was significantly worse than analysts had expected. The unemployment rate rose to 9.5. This really throws a dagger into the hoped of a recovery in the 3rd and forth quarters of the year. I still think their is hope, but it is possible we will have to wait till Quarter 1 of 2010 to see an end to the recession.

Below is the usual list of economic data to be released next week. Unlike this week, there is not all that much data becoming available, but the usual claims for unemployment should be interesting.

Jul 6 10:00 AM ISM Services Jun
Jul 8 10:30 AM Crude Inventories
Jul 8 3:00 PM Consumer Credit May
Jul 9 8:30 AM Initial Claims 07/04
Jul 9 10:00 AM Wholesale Inventories May
Jul 10 8:30 AM Export Prices ex-ag. Jun
Jul 10 8:30 AM Import Prices ex-oil Jun
Jul 10 8:30 AM Trade Balance May
Jul 10 9:55 AM Mich Sentiment-Prel Jul

There really are not too many earnings reports being released either, next week. Here are a couple of the highlights though.

Tuesday - Ruby Tuesday
Wednesday - Pepsi
Thursday - Chevron

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