“My concern’s with the second half is the economy isn't building the momentum everyone thought. When the stock market was doing well and it looked like the economy was going to pick up, there were a lot of people that thought economic growth would go to 3% real and I don't think that's likely. I think we could have another couple quarters at 2%. People are very bullish, they think we could do 3.5% in 2014, and I think that may be a question also. We need a reality check.”
OBAMACARE, TEPID US GROWTH FUEL PART-TIME HIRING (Reuters)
“U.S. businesses are hiring at a robust rate. The only problem is that three out of four of the nearly 1 million hires this year are part-time and many of the jobs are low-paid…"They have put some of the full-time positions on hold and are hiring part-time employees so they won't have to pay out the benefits," said Client Staffing Solutions' Darin Hovendick. "There is so much uncertainty. It's really tough to design a budget when you don't know the final cost involved."…The delay in the Obamacare employer mandate "confused people even further," said Bill Peppler, managing partner at Kavaliro, a technology staffing firm in Orlando, Florida. "When we talk to customers, I still don't think anyone has a handle on this." Story at...
Wednesday, the S&P was down 0.6% to 1643 (rounded) at the close.