Little good can be said about the August jobs report. The 156k growth in jobs disappointed and is well below the recent averages. The back two months were revised lower for a total of 41k jobs. The unemployment rate ticked up to 4.4% even though the participation rates were unchanged at 62.9%. As if that was not sufficiently disappointing, the work week slipped a to 34.4 hours from 34.5 hours and average hourly earnings did not rise as much as expected (0.1% instead of 0.2%). One of the few bright spots was manufacturing, which added 36k jobs. This is the most since August 2013. The July manufacturing payrolls were revised to 26k from 16k...
Little good can be said about the August jobs report. The 156k growth in jobs disappointed and is well below the recent averages. The back two months were revised lower for a total of 41k jobs. The unemployment rate ticked up to 4.4% even though the participation rates were unchanged at 62.9%. As if that was not sufficiently disappointing, the work week slipped a to 34.4 hours from 34.5 hours and average hourly earnings did not rise as much as expected (0.1% instead of 0.2%). One of the few bright spots was manufacturing, which added 36k jobs. This is the most since August 2013. The July manufacturing payrolls were revised to 26k from 16k...
GBPJPY Short-Term Elliott Wave suggests that the decline to 8/23 low at 139.27 ended Minor wave W. Minor wave X bounce is currently still in progress as a double three Elliott Wave Structure. Minute wave ((w)) of X ended at 141.47, Minute wave ((x)) of X ended at 139.98, and Minute wave ((y)) of X is proposed complete at 142.93. The move higher from Minor W can be counted as a triple three. In this case, it will open extension higher to 143.75 – 144.27 area before the pair turns lower. GBPJPY 1 Hour Elliott Wave View Double Three is the most important pattern in Elliott wave’s new theory. It’s probably the most common pattern in t...
GBPJPY Short-Term Elliott Wave suggests that the decline to 8/23 low at 139.27 ended Minor wave W. Minor wave X bounce is currently still in progress as a double three Elliott Wave Structure. Minute wave ((w)) of X ended at 141.47, Minute wave ((x)) of X ended at 139.98, and Minute wave ((y)) of X is proposed complete at 142.93. The move higher from Minor W can be counted as a triple three. In this case, it will open extension higher to 143.75 – 144.27 area before the pair turns lower. GBPJPY 1 Hour Elliott Wave View Double Three is the most important pattern in Elliott wave’s new theory. It’s probably the most common pattern in t...
(Audio length 00:10:50) Fund Manager Dana Lyons shares some insights on the breakouts in Emerging Markets. From China, India, Brazil, smaller Asian markets, and Russia, we are seeing some key breakouts which should be noted. This speaks to liquidity around the world but Dana does not think this is correlated to economic activity. Dana also shares his concerns for the US equity markets. ...
TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence. Written by SmallCapPower.com POET Technologies Inc. (POETF) acquired DenseLight and BB Photonics last year giving it the technology to address 100G optical telecom, the largest and fastest growing market segment so, going forward, we believe that POET Technologies is in an ideal position to become profitable at the EBITDA level by the second half of 2018. Investment Thesis POET Technologies enables the performance of light at the cost of copper Significant opportunity for 100G connectivity Vast...
Recap from July’s Picks Our Safest Dividend Yield Model Portfolio underperformed the S&P 500 last month. The Model Portfolio fell 2.6% on a price return basis and fell 2.4% on a total return basis. The S&P 500 fell 0.6% on a price return basis and total return basis. The best performing stocks in the portfolio were large cap stock GameStop Corporation (GME), which was up 4%, and small cap stock, TransAct Technologies (TACT), which was up 16%. Overall, 10 out of the 20 Safest Dividend Yield stocks outperformed the S&P in July. Since inception, this Model Portfolio is up 9% on a price return basis (S&P +13) and 13% on a total ...
Amid the chaos and turmoil caused by Harvey, today’s rig count data is likely to change things as much as a fart in a hurricane. US crude production in the Lower 48 actually fell last week, syncing with the stabilization in the lagged oil rig count. The US Oil Rig count held to two-month lows last week, unchanged at 759… US Crude production in the Lower 48 dropped last week following a stabilization in rig counts (but rose 2k overall thanks to a pick up in Alaska)… Notably, RBOB prices are down today (and WTI) as john Kilduff, a partner at Again Capital, notes “The government is actually reacting positively trying to ad...
If you have been in a 401K like I have over the decades, you know this has been helpful in reducing tax on your income. If you do not know this, you do now. The GOP is making eyes on your 401k contributions with the intent of removing the upfront deduction which lowers your taxable income. The GOP would like to go to a Roth type of 401k. Either way, I would be ok. The problem I have with this idea is it is being presented as a way to help holders of a 401K today. It is not. The entire exercise here is provide enough offsetting revenue to provide a major tax cut for those making >$500,000 annually which number ~1.5 million households of the...
Initial Reaction Today’s establishment survey shows jobs rose by a much weaker than expected 156,000. Revisions took off 21,000 in June and another 20,000 in July. In the household survey, employment fell by 74,000. Average weekly hours worked declined by 0.1 hour and wage growth was anemic. Let’s dive into the details in the BLS Employment Situation Summary, unofficially called the Jobs Report. BLS Jobs Statistics at a Glance Nonfarm Payroll: +156,000 – Establishment Survey Employment: -74,000 – Household Survey Unemployment: +151,000 – Household Survey Involuntary Part-Time Work: -27,000 – Household Survey Voluntary Part-Time W...