I’ll post the daily Market Report and Market Analysis after the close. Here’s some news…
JOB OPENINGS HIGHEST SINCE 2001 (CNBC)
“Job openings rose in June, hitting 4.7 million, up
slightly from 4.6 million in the prior month, according to the U.S. Bureau of
Labor Statistics. The latest reading marks the highest since February 2001. Federal
Reserve Chair Janet Yellen often cites the survey when she assesses the state
of the labor market.” Story at…
http://www.cnbc.com/id/101906433JOLTS (CNBC)
Good Video on the Job Opening Report (JOLTS) at…
http://video.cnbc.com/gallery/?video=3000301494ROGER McNAMEE BEARSIH (CNBC)
“…there is a lot of chaos in the world and the rate of chaos is increasing a lot, and to me, that just makes me incredibly nervous," McNamee, a managing director and co-founder of venture capital firm Elevation Partners, said on "Squawk Alley." "It doesn't change how I feel about individual stocks. What it does is it changes how much exposure to the market I want to have." Story and video at…
http://www.cnbc.com/id/101911123
CNBC TRADERS
I saw a discussion on CNBC’s Fast Money Monday regarding whether the pullback is over or whether a correction is under way. Bother traders were looking at a chart of junk bonds. One said the correction is over because junk bonds rallied at the S&P 500 low. The other said the correction was just getting started because junk bonds had been falling since June and that was an indication of a long-term issue that hadn’t been resolved. Conclusion: Even experts can’t agree on interpretation of one indicator.
EUROPEAN ECONOMY SLOWS (Bloomberg)
“Germany probably underperformed Spain last quarter for
the first time in more than five years as the euro-area recovery almost ground
to a halt. After leading the currency bloc out of its longest-ever recession last year…German
GDP shrank 0.1 percent in the three months through June, the first contraction
since 2012, according to the median estimate in the Bloomberg survey.” Story at…http://www.bloomberg.com/news/2014-08-10/europe-s-growth-engine-stutters-as-spain-beats-germany.html
