David's Feed
Jun 4, 2015
via Morning Bid with David Gaffen

I Learned This in Europe

It’s no secret. The big action in the U.S. markets is going to be tomorrow, as investors await monthly jobs data due out on Friday morning. The expectation is for another strong month of payroll growth somewhere in the range of 230,000 jobs, but of course we will wait to see if there are any increasing signs of wage inflation that would make the Fed more confident in raising rates by September rather than say December.

However, that doesn’t mean Thursday will be a dull affair. The ongoing rise in European yields is continuing and putting pressure on equities as well, and that trend is overriding all others right now. The Greek mishigoss notwithstanding, the markets are more focused on positioning that is overwhelming the daily back-and-forth between Athens and its creditors.

Jun 2, 2015
via Morning Bid with David Gaffen

I can’t drive 55

Automotive sales could push the market into higher gear if last month brought the kind of rebound that investors are looking for.

After April’s weak data and some flat-to-blah consumption figures of late, the market is still doing the hemming and hawing over whether the economy is bouncing back or not. Car sales, a big part of this equation, may help solidify that.

Jun 2, 2015
via Morning Bid with David Gaffen

I can’t drive 55

Automotive sales could push the market into higher gear if last month brought the kind of rebound that investors are looking for.

After April’s weak data and some flat-to-blah consumption figures of late, the market is still doing the hemming and hawing over whether the economy is bouncing back or not. Car sales, a big part of this equation, may help solidify that.

Jun 1, 2015
via Morning Bid with David Gaffen

A Lot to Chew On

The week promises a lot of huffing and puffing over whether the economy is going to pick up after a dismal first quarter, where things stand before another non-event of a Fed meeting later this month and the scary realization the year is nearly half over.

Much is on the docket this week: Car sales, factory orders, a number of manufacturing and service-sector surveys, and of course the big Megillah, the jobs report.

Jun 1, 2015
via Morning Bid with David Gaffen

A lot to chew on

The week promises a lot of huffing and puffing over whether the economy is going to pick up after a dismal first quarter, where things stand before another non-event of a Fed meeting later this month and the scary realization the year is nearly half over.

Much is on the docket this week: Car sales, factory orders, a number of manufacturing and service-sector surveys, and of course the big Megillah, the jobs report.

May 28, 2015
via Morning Bid with David Gaffen

Dollar strength, equity weakness?

The dollar’s renewed vigor has some investors worried that the stock market rally will not last.

They’re also concerned the recent trend in buybacks and merger and acquisition activity means capital expenditure will continue to flag.

May 28, 2015
via Morning Bid with David Gaffen

Dollar strength, equity weakness?

The dollar’s renewed vigor has some investors worried that the stock market rally will not last.

They’re also concerned the recent trend in buybacks and merger and acquisition activity means capital expenditure will continue to flag.

May 27, 2015

Euro off lows, stocks rise on tentative Greek debt accord

NEW YORK (Reuters) – The euro stabilized in volatile trading and stocks rose on Wednesday after reports that Greece and its creditors, including the European Union and IMF, had reached an agreement that will provide debt relief to the struggling nation.

The agreement between Greece and the Brussels Group, comprised of major creditors that include the EU and International Monetary Fund, will include no more wage or pension cuts to help get more aid for the nation, which is in danger of missing debt payments.

May 27, 2015
via Morning Bid with David Gaffen

Big Box Sales

Retail sales at Costco Wholesale Corp should be encouraging enough when the company reports results at the close of trading today.

In early May the company said comp-store sales, excluding gasoline and foreign currency effects, were up 7 percent in April and up 7 percent across the United States in the preceding 35 weeks (not sure why this is the number used, but fine).

May 27, 2015
via Morning Bid with David Gaffen

Big box sales

Retail sales at Costco Wholesale Corp should be encouraging enough when the company reports results at the close of trading today.

In early May the company said comp-store sales, excluding gasoline and foreign currency effects, were up 7 percent in April and up 7 percent across the United States in the preceding 35 weeks (not sure why this is the number used, but fine).

    • About David

      "David Gaffen oversees the U.S. markets team, having joined Reuters in May 2009. He spent four years at the Wall Street Journal, where he was the original writer of the web site's MarketBeat blog. He is a frequent guest on Reuters TV, and has appeared on CNN International, Fox Business, NPR, and assorted other media and is the author of the book "Never Buy Another Stock Again.""
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