Monday, 8-23-10
Last Week:
- The only significant news last week came towards the end of the work week when the weekly initial jobs claim number came out. For the second week in a row a decrease was expected, but the filings actually increased. The number moved up to 500,000; the first time since late last year we’d seen the number that high. The markets responded quickly and painfully lower.
This Week:
- The biggest story of the week comes out on Friday morning, when the first revision of Q2 GDP numbers is released. Q2 was initially reported at +2.4%. The revision is expected to lower Q2 GDP growth to only +1.4%.
- Weekly initial jobs claims will again be a focus this week. The number is expected to drop from 500,000 to 490,000. The report comes out on Thursday morning.
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All the best,
Chris
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