Mixed Economic Data Prints About In-Line...PPI A Little Hot

September 10, 2020

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Economic releases this morning were pretty much a nothing-burger, with jobs data around inline and PPI coming in slightly hot.

Markets are trading on the future at the moment and the vaccine outcome is the future, at least for the people who need to feel more comfortable for air travel, etc. AstraZeneca said this morning it will know by the end of the year whether or not its vaccine works against the Chinese coronavirus. Strangely, this is AFTER the election. Nancy Pelosi said yesterday 'she was pleased with that outcome'. We wonder why and still have our suspicions regarding the announcement of suspension of AstraZeneca's trials. They are a British company at the end of the day, and British globalist Big Pharma definitely wants POTUS gone.

Anyway, we have no evidence of this, just musing out loud. Stranger things have happened in the last few years.

Financial markets look to be down slightly after the last few trading days of extreme volatility.

Producer Price Index (YoY) (Aug) printed at -0.2% vs -0.3% consensus estimate.

Producer Price Index ex Food & Energy (MoM) (Aug) printed at 0.4% vs 0.2% estimate.

Producer Price Index ex Food & Energy (YoY) (Aug) printed at 0.6% vs 0.3% estimate.

Continuing Jobless Claims (Aug 28) printed at 13.385M vs 12.925M estimate.

Producer Price Index (MoM) (Aug) printed at 0.3% vs 0.2% estimate.

Initial Jobless Claims (Sep 4) printed at 884k vs 846k estimate.

Initial Jobless Claims 4-week average (Sep 4) printed at 970.97k.

Wholesale Inventories reported at 10am est.

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."