Mike: The Thursday Jobless Claims report shows a worse showing than expected with 627,000 jobless claims compared to a 600,000 estimate.  The four-week moving average also increased, although by only 500, but it shows that jobless claims are still at recessionary levels and not improving as quickly as most “experts” had envisioned. The 4-week moving average […]

Continue reading about June 25 – Jobless claims rise to 627,000 – Continuing claims increase to 6.74 million – Corus to cut >2000 UK jobs – Kimberly-Clark to chop 1,600 Jobs – U Minn. to dismiss 1240

Mike: A busy Wednesday for economic reports, especially the two related to housing; MBA Purchase Applications, which showed some improvement mortgage applications climb from 7-month low as shown below, and New Home Sales showed continued weakness May new home sales dip 0.6 percent, which is surprising considering this is peak season for home sales. Mike: Durable goods orders show […]

Continue reading about June 24 – New homes sales fall, but mortgage applications rise – Durable good orders rise sharply – Ikea has cut 5000 jobs – Monsanto to cut 900 jobs – AIG chops 415

Mike: Tuesday brings us the always important Existing Home Sales and a couple of weekly retail reports. Existing Home Sales will show if new home sales are brisk or continuing to languish. Well, it looks like sales increased, but were below expectations. I couldn’t find a headline that read “April existing home sales revised down and May […]

Continue reading about June 23 – MySpace to cut 300 international jobs – Mich. State U may cut 590 – Harvard dismissing 275 – May home sales increase 2.4%, but miss expectations – May mass layoffs tie record high – GM to cut 4000 salaried jobs by Oct. 1 – Nissan’s electric car to create 1300 jobs – Hav-A-Tampa: 500 lose jobs