Although stocks were on hold for the middle of this week, we expect to see a return to bullishness to end the week now based on the latest data.
As you know, the ADP Hiring report for April showed a gain of 177,ooo jobs.
But wait till you read the Challenger job cuts report just out…
Here it is, hot off the press release:
“The pace of downsizing decreased in April, as US-based employers announced workforce reductions totaling 36,602 during the month, according to the latest report released Thursday from global outplacement consultancy Challenger, Gray & Christmas, Inc.
The April figure represents a 15 percent decrease from March, when employers announced 43,310 planned layoffs. Last month’s job cuts were 43 percent lower than the 64,141 recorded in April 2016*.”
Employers have announced a total of 162,803 planned job cuts through the first four months of 2017. That is down 35 percent from the 249,061 job cuts tracked during the same period a year ago. It is the lowest January-April total since 2014, when the opening four months of the year saw 161,639 job cuts.
“Although restructuring in the retail sector continues to shed jobs, we aren’t seeing the wide scale layoffs in other sectors, like energy or tech,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.
The retail industry announced 11,669 job cuts in April, the highest total among all industries, bringing the year-to-date total to 50,133. That is up 36 percent from the 36,977 retail-sector job cuts announced in the first four months of 2016.
*Challenger revised Energy sector cuts in Texas down 1,000 in April 2016″
This is all foreplay ahead of the federal Employment Situation report from Labor tomorrow. But it has the market perking up a bit with the Dow futures up more than 60-ahead of the open.
Great Again Glimmers
A few headlines of note:
The News-Free Diet
Buddy Oilman2 has a dandy idea: turn off the news channels several days a week.
He’s done this because of multiple reasons: If anything with long-term impact comes along, site like Urban (and a few others) will keep him posted and he can read/skim ’em quickly.
But where the big savings will be is T&T – Time and Tums.
People read a LOT of news. Maybe too much. Most news doesn’t apply to them and even if it does, not crap can be done about it. The Tums part? Less BS to worry about.
With this in mind, we’ll lean to our economic outlooks and meaningful trends and spend less time on gobbledygook like the pseudo-drama about Healthcare Reform (ain’t happening today, but you’d never know that by the headlines).
In fact, the only place where we see CRISIS flashing in bright red OLEDs is Iowa where it looks like no one will be getting a healthcare plan next year.
Other than FBI Director James Comey doing a four-hour soft-shoe on the Hill Wednesday, nothing of note in the District of Craziness. It’s still a swamp and the drains are mostly plugged.
Does it matter than a trio of codepink disrupters at the Jeff Sessions hearings was convicted to attempting to disrupt a hearing? To the perps perhaps, but as we’ve said before, the right of free speech is not the right to disrupt, bully, wage street warfare, or whatever.
This wasn’t about codepink – thought sure some marketing aspects – it was about maintaining the public order. Gotta wonder if other disruptive groups will get the drift here?
Sanctuary City Legislation
Governor Greg Abbott is likely to sign Senate Bill 4 over the whining of liberals who see it as the end of the world.
We can only remind them that persons not in the U.S. legally don’t get the same protections (and some of us would argue should get no taxpayer-paid anything) as legal entrants or citizens.
Too simple? Sure! So expect a whine-in to follow. Lawsuits, too. Gotta million liberal lawyers I’m sure chomping to go against it. (Odd since I thought they understood law, but maybe not so much…)
Just remember, if persons are here legally, ICE wouldn’t be involved, know what I’m sayin? Must be too big a thought to wrap-around, huh?
What we’ll be looking for will be investment opportunities (beachfront condo anyone?) when the fear and loathing make the rounds.
As Goes France, So Goes the E.U.
Which makes Sunday’s vote for president worth tracking. Try “MARINE LE PEN DEBATE KILLSHOT: ‘France Will Be Led By a Woman, Me or Mrs. Merkel’ (VIDEO)”
Wait! Does France have a voter ID law? Anyone?
Kneelers and sycophants will be yammering all day about Britain’s Prince Phillip stepping out of day to day duties.
And here we have the Chicago Trib offering “How to channel Brad Pitt’s National Park mindfulness.”
Side of Charmin with your ViseGrips today?
I don’t know about you but I am sick of all this ‘climate change” crap. What climate change there is can be attributed to the obvious: Cutting down the Amazon rain forests comes to mind, for example.
But instead of banging Brazil – schooling ’em on planned parenthood (too late!) or planting a single tree, we go off into computer simulation land and work ourselves into…..what? A polarized semi-religious fervor. Like that’ll help?
There’s an old saying “Analysis causes Paralysis” and with trillions of planned spending on the mind-twist about this stuff, the simple shit that would help is overlooked. Like adding solar panels to your home, driving a 40 MPG+ car, living closer to work, eating more veggies, supporting the community garden and shopping at an organic co-op….who’s running a scam here?
As I see it (from my solar powered office which has been 3.5 kw of grid-tie since 2008 – year 2008!!!) seems to me that “climate” – like gender-change and gayness before that – is just another thing to monetize.
Government is still the biggest long-term growth industry in the world. By orchestrating the social angles, their “take” from the we the peeps grows as their levels of control continue to grow.
We’re likely less than five years from internet content licensing, too, so be ready for that, when it happens, too.
Government makes a business out of turning Rights into Privileges which are then rented out. Like your drivers license. Property Taxes – mean you don’t own your home, the government does. (Don’t pay for a few years and see if I’m lying!)
Anything that can be monetized is up for grabs. If you can think it, monetize it!
Until tomorrow, then… (My ass has an appointment with a tractor seat and a burn pile today.)