For Investors: Lots of Data This Week

Every business page headline today says investors are holding back today waiting for slew of economic data to be released this week.

Just for the fun of it, let's follow the headlines as that data is released.

I'm particularly interested because I am as fully invested as I can be, having accumulated a few more shares of CLR and NOG earlier last week.

1. Consumers spend at fastest pace in four months. Reading closely between the lines, the numbers suggest folks may be tapping into savings and/or retirement accounts. The article does state economists are worried that consumers are holding back on purchases due to economic uncertainty. Dow is down 75 points.

2. Japan's factory output unexpectedly rose 0.3 percent in the  month of Japan.

3. August automobile sales in August slowest for that month in 28 years? We will know tomorrow when sales figures released.

4. Unexpected jump in consumer confidence -- August 31, 2010: A report showed confidence climbed more than expected in August, giving traders some hope that the slowdown in the economy might be finding a bottom. Manufacturing activity in the Midwest slowed in August, slightly worse than expected.

5. Home prices rose more than expected in the month of June.

6. Banks made money. Banks overall made $21.6 billion in net income in the April-to-June quarter, the Federal Deposit Insurance Corp. said. It was the highest quarterly level since 2007 and was led by the largest institutions. The industry lost $4.4 billion in the second quarter of 2009.

7. Stock futures surge on signs of overseas growth -- Wednesday, Sept 1, 2010 -- third day of this five day series.  Australia's economy grew by the fastest pace since 2007. China auto sales rebound; grow by 56% in August (recession? what recession?).

8. Joy Global (coal) raises 3Q forecasts. Heinz boosts 1Q earnings due to Asia growth.

9. Ford Canada has best August in 20 years. Enuf said.

10. US manufacturing sector grew in August.

11.  The number of planned layoffs at U.S. firms fell 17 percent in August from the prior month and hit the lowest level in 10 years, a report on Wednesday showed. Employers announced 34,768 planned job cuts last month, down from 41,676 in July, outplacement consultancy Challenger, Gray & Christmas, Inc. said. It was the first month-on-month decline since April, when planned job losses had hit a seven-year low, and the lowest level since June 2000.

12. Pending home sales rose 5.2 percent in July. Even so, home sales remain at the lowest level in a decade.

13. August retail sales slightly better than forecast. This year, the index up 3.2% (forecast: 3%) but it's better than the 2% downturn experienced last August.

14. In general, economic data quieting talk about a double-dip recession.

15. Fewer jobs lost than expected (who are we trying to kid?) -- but it's considered a good report. Unemployment inches up to 9.6%. It appears 10% is the "new normal." Market "happy" if unemployment is less than 10%. Jobs gained this past reporting period not even enough to absorb new entrants into workforce, much less make any dent in the jobs lost in this recession.