MAJOR CHANGES AT CNBC?
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…
http://www.bloomberg.com/news/articles/2016-04-01/payrolls-in-u-s-increased-215-000-in-march-as-wages-picked-up
Unemployment rose to 5%, but that seems to have been
driven by more people looking for jobs.
ISM RISES ABOVE 50 (CNBC)
“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…
http://www.cnbc.com/2016/04/01/march-ism-manufacturing-and-february-construction-spending.html
MICHIGAN SENTIMENT (Bloomberg)
“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…
http://www.bloomberg.com/news/articles/2016-04-01/consumer-sentiment-in-u-s-edges-down-amid-economic-concerns
AUTO SALES (The Street.com)
“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…
http://realmoney.thestreet.com/articles/04/01/2016/march-u.s.-auto-sales-mixed-incentive-spending-increases-across-board
Auto sales are watched closely by many as an indicator
for the overall economy.
STOCK MARKET ANALYSIS
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.
