Initial Jobless Claims -- December 1, 2022

"When everybody is predicting the same thing, something else will likely happen."

Initial jobless claims: down 16,000 to 225,000.

Dow moves up. Futures up 100 points. At open, down 100. Profit taking from yesterday's huge. I expect Dow to close in the green before the weekend.

Personal income: up 0.7% vs 0.4% estimate.

JOLTs from yesterday: down but still more than 10 million job openings. JOLTS.

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All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.   

Steve Liesman: "some kind of recession we're having." LOL.

• personal income up
• spending up
  
• initial jobs claims down
• market up

Yeah: "some kind of recession we're having." LOL. 

GDP: new estimate to be released today. Previous:

Fed: makes sense to moderate thte pace of oouur rate increases.

Core CPE price index: up 0.2% vs 0.3% expected

• Mohamed el-Erian: inflation is coming down
• real economy continues to do well
• assets to go higher for tactical players; much tougher for long-term players
• recession risk uncomfortably high but could avoid
• if we slip into recession, unlikely to be short and shalloow
• "feeling better for now"
  

Kroger: guides better. This is a grocer.  

Dow: in bull market territory