Market Will Be Volatile As America Weans Itself From Government Handouts And Gets Back To Work...Manufacturing Explodes Higher

June 18, 2020
2 Comments
Market Will Be Volatile As America Weans Itself From Government Handouts And Gets Back To Work...Manufacturing Explodes Higher
 American Manufacturing Company in 1882

The markets took higher than estimated initial jobless claims as an excuse to sell off on the open today. It is worth noting that these 'estimate' are nothing but throwing darts at a board in this extremely volatile environment with massive government interference in private enterprise.

As we write, the equity markets are rising off the session lows as traders focus on the massive explosion in manufacturing registered by the Philadelphia Fed Manufacturing Survey, which blew away the estimates.

This is the real story of today's release of economic indicators.

In short, the American economy is recovering quickly. Those who want to milk unemployment for as long as they can will. We suspect they'd rather be demonstrating, looting, and breaking things, or smoking dope at CHAZ. However, those that want to work are doing so.

Continuing Jobless Claims (Jun 5) printed at 20.544M vs 19.8M consensus estimate.

Philadelphia Fed Manufacturing Survey (Jun) printed at 27.5 vs -23 estimate.

Initial Jobless Claims (Jun 12) printed at 1508k vs 1300k estimate.

Initial Jobless Claims 4 week average (Jun 12) printed at 1773.5k.

SHARE THIS ARTICLE

Author

CDM Staff

The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."
  • Subscribe
    Notify of
    guest

    2 Comments
    Inline Feedbacks
    View all comments

    […] Market Will Be Volatile As America Weans Itself From Government Handouts And Gets Back To Work&helli… […]

    […] Market Will Be Volatile As America Weans Itself From Government Handouts And Gets Back To Work&helli… […]

    FOLLOW US

  • Subscribe to our evening newsletter to stay informed during these challenging times!!