Friday, April 1, 2016

Major Changes at CNBC? … Payrolls … ISM Index … Michigan Sentiment … Auto Sales … Stock Market Analysis

Actually…not now.  CNBC announced that they have cancelled plans to replace Bob Pisani with an Apple robot.  Apparently, the robot got into Art Cashin’s martini stash and ran amok threatening to take over the NYSE.  On-site security personnel were unable to shut it down and Apple refused to help. Tim Cook said, “That robot is as alive as the dead terrorists and we must protect its rights.” The crisis ended a short while later when its battery died. – CNBC Press release, 1 April
PAYROLLS (Bloomberg)
“Employment in the U.S. climbed and wages picked up in March, signs of labor-market durability in the face of lethargic global growth. The 215,000 gain in payrolls followed a revised 245,000 February advance, a Labor Department report showed Friday.” Story at…
Unemployment rose to 5%, but that seems to have been driven by more people looking for jobs.
“U.S. manufacturers expanded in March, ending a five-month streak of declining factory activity. The Institute for Supply Management says that its manufacturing index rose to 51.8 last month from 49.5 in February.” Strory at…
“Consumer confidence in the U.S. dipped slightly in March as concerns persisted that the world’s largest economy will cool. The University of Michigan final sentiment index for last month eased to 91 from 91.7 in February.”  Story at…
“Following a record-breaking 2015, some analysts are suggesting that auto sales may have peaked, which has sparked concern among industry watchers and is reflected in declines across the board for auto stocks on the market Friday.” Story at…
Auto sales are watched closely by many as an indicator for the overall economy.
Once again, I am too busy for a detailed post.  I’ll post stock market analysis later tonight or tomorrow. In general, the end of the month and the first 4-days of the new month are strong for the market. Still, indicators are mostly negative and still indicate the market is near a top.
Declining stocks were outpacing advancing by a wide margin around noon and declining volume was also high; to me that suggests it is more likely that today will finish down at the close.