Don't Know What to Think Featured

By Ted Craig August 02, 2019 1443

The Fed cut interest rates this week for some reason. It wasn’t enough for the stock market, which went all Veruca Salt. And then Pres. Trump boosted tariffs on China, which kind of offset the cut. Employment, according to the BLS, was OK in July, but May and June were both revised down. Still, total employment reached a record of 157,288,000 in July. And the ADP numbers were pretty good. Also, consumers expect more jobs three months from now and they are surprisingly prescient in this area. Both of the major consumer confidence numbers moved up, which is usually a good sign. Still, the ISM PMI slowed, although it remains positive. So, I don’t know what to think.

 

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Last modified on Friday, 02 August 2019 15:04