You can easily tell a media outlet's agenda by how they report economic news. The legacy business media outlets are all about 'Orange man bad' and how 8 million unexpected job gains last month is somehow 'bad news' for the American economy. Other influential sites are invested in the American economy tanking for the benefit of China, Iran or the Russian Federation.
The truth is, we had a bad few months due to the Chinese coronavirus outbreak...it shows in the numbers released previously and today. However, America is also experiencing an explosive economic comeback, led by red states where COVID is a distant memory.
At CDMedia, we aim to tell the truth, no matter where it takes us, and we see optimism for the future as the inherently resilient American economy rebounds. Although, our thoughts are tempered with significant worry about the Marxist insurrection happening as we speak. The Leftist agenda is the main hurdle to cross for stronger growth as Democrat politicians push for more lockdowns, removing the rule of law, and the use of partisan force.
Today the market took a well-deserved breather after regaining positive territory in 2020 following the March lockdown lows, off around one percent as we write.
NFIB Business Optimism Index printed at 94.4 vs 86 consensus estimate.
Redbook Index (YoY) (Jun 5) printed at -9.7%.
Redbook Index (MoM) (Jun 5) printed at -3.2%.
IDB/TIPP Economic Optimism (MoM) (Jun) printed at 47.
Wholesale Inventories (Apr) printed at 0.3% vs 0.4% estimate.
JOLTS Job Openings (Apr) printed at 5.046M vs 5.0M estimate.
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