Archive for August 12th, 2010

Substantially Higher Trade Deficit in June will Result in Sharp Downward Revision to Second Quarter GDP

| August 12, 2010

Yesterday, the Census Bureau reported that the trade deficit increased to $49.9 billion in June from $42.0 billion in May. Consensus expectations were for a decrease, so this economic data release was yet another disappointment, especially when you consider its impact on the next revision to second quarter GDP. In late July, the Bureau of […]

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Weekly Unemployment Claims Increase to Highest Level since February

| August 12, 2010

The Department of Labor reported that initial unemployment claims increased to 484,000 last week from the revised figure of 482,000 the week before. This is the highest number since February and is a sign that the labor market may be experiencing renewed weakness. The 4-week moving average increased to 473,500 and is now testing the […]

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Short-term Forecast for August 12, 2010

| August 12, 2010

Stock Daily Chart Analyses The following daily chart analyses provide short-term forecasts for the stock markets that we monitor. For intermediate-term outlooks see the latest weekly review, and for long-term outlooks see the big picture update. The S&P 500 Index The index closed moderately lower today, reconfirming the new short-term downtrend from earlier this week. […]

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