“The Labor Department says weekly applications for unemployment aid rose 23,000 to a seasonally adjusted 302,000. The prior week's was revised down to 279,000 claims, the lowest since May 2000. The four-week average, a less volatile measure, fell 3,500 to 297,250. That's the lowest average since April 2006, more than a year before the Great Recession began at the end of 2007.” Story at…
http://www.usatoday.com/story/money/business/2014/07/31/weekly-jobless-claims/13378535/
FED IN NO RUSH TO RAISE RATES (Reuters)
“The Federal Reserve on Wednesday reaffirmed it was in no
rush to raise interest rates, even as it upgraded its assessment of the U.S.
economy and expressed some comfort that inflation was moving up toward its
target. After a two-day meeting, Fed policymakers took note of both faster
economic growth and a decline in the unemployment rate, but expressed concern
about remaining slack in the labor market.” Story at…http://www.reuters.com/article/2014/07/30/us-usa-fed-idUSKBN0FZ24820140730?feedType=RSS&feedName=businessNews
BLOOMBERG CONSUMER COMFORT DECLINES (Bloomberg)
“Confidence among U.S. consumers retreated last week to
an almost two-month low as limited wage growth chipped away at perceptions
about personal finances. The Bloomberg Consumer Comfort Index fell to
36.3 in the period ended July 27, the lowest June 8, from 37.6 the week before.
A gauge of households’ financial well-being dropped by the most since mid-May
after reaching an 11-week high.” Story at…http://www.bloomberg.com/news/2014-07-31/consumer-confidence-declines-in-u-s-to-lowest-since-june.html
ART CASHIN: IT’S CRITICAL S&P 500 HOLD 1950 (CNBC)
"If they don't hold 1,950, it's going to be a bit of
a problem," Cashin said on "Squawk on the Street."
Video at…http://www.cnbc.com/id/101883819
Oooops. The markets crashed thru 1950 to settle in at 1931.
I'll have to post market analysis later, but I am seeing sell signals.
