More Domestic Travel to a little more overseas travel now. Theaad lets get to markets and have a look at what is going on. Nikkei, in with the leading japanese shares, just seeing stocks drifting to the upside. We did see jobless numbers come out. Slightly better than expected, looking for a 3 jobless rate, but 2. 9 . Looking elsewhere, retail sales out of hong kong, looking also at the futures for the u. S. , pretty much flat. Asian equities drifting slightly to the upside. Looking at the shanghai composite, lets look at how the gpi is behaving as well. Just about flat. The shanghai comp, 0. 2 lower. Chinese Economic Activity continued to rebound. Expansion in manufacturing activity, just slowing slightly there. A Rate Decision out of australia later on. Expecting the rba to keep rates. And the singapore market 0. 6 lower. Quick check on the currency is, weve got a fifth straight monthly drop for the dollar. Bloomberg dollar index down by 0. 25 . The yen, a tad weaker. Euro currently
Dow falling 50, because the s p oscillator is now in extreme overbought territory, which tells me we are due for some pain. The house of pain. Before i explain my reliance on this darned oscillator, let me break down what i saw. Its inextricably late to several inputs. Stocks intend tend to go pie higher if we have three circumstances a weaker dollar, higher oil and stronger chinese stock market. I may not necessarily agree that these should cause a raleigh. I think higher oils mean lower personal save,s lower personal consumption, higher cost for most businesses, only 10 directly benefits from a more expensive group. It doesnt matter what i think, though. Right now the correlation between higher oil and higher stock prices is so ingrained its not even worth the intellect why will combat. When oil was flying high today, you know, you had a decentlooking market, but it sold off. As soon as it did, that directly turned the tape into the red. It was incredible. We know that the chinese st
Tells me we are due for some pain. The house of pain. Before i explain my reliance on this darned oscillator, let me break down what i saw. Its inextricably late to several inputsts. Stocks intend tend to go pie higher if we have three circumstances a weaker dollar, higher oil and stronger chinese stock market. I may not necessarily agree that these should cause a raleigh. I think higher oils mean lower personal save,s lower personal consumption, higher cost for most businesses, only 10 directly benefits from a more expensive e oup. It doesnt matter what i think, though. Right now the correlation between higher oil and higher stock prices is so ingrained its not even worth the intellect why will cbat. When oil was flying high today, you know, you had a decentlooking market, but it sold off. Turned the tape into the red. Was incredible. We know that the chinese stock market has been manipulated higher by their government. It shouldnt matter at all, right . But again i dont determine the
Was made to turn over to the house energy and Commerce Committee and it appears gms Ceo Mary Barra knew more than she has been saying. Rich edson has been going through all these documents. Rich . Gerri, General Motors engineers knew about chevy cobalts shutting off inad vert antly a decade before they recalled dozens of these cars. That is what documents in the house energy and Commerce Committee showed. Engineer was writing aways very aware with inadvertent ignition office. The piece cost of the ignition switch went up 90 cents and 400,000 in tooling and almost 500,000 doll in volume. Another gm document showed the Company Already decided cost was too high. In report entitled, quote, cost estimate to change the vehicle key for the cobalt only, the author writes, quote, none of the solutions represents an acceptable business case. In other words the solution is too expensive that very report says a lengthy lead time cost and no guaranty their proposed fix would fully solve the problem
House energy and Commerce Committee and it appears gms Ceo Mary Barra knew more than she has been saying. Rich edson has been going through all these documents. Rich . Gerri, General Motors engineers knew about chevy cobalts shutting off inad vert antly a decade before they recalled dozens of these cars. That is what documents in the house energy and Commerce Committee showed. Engineer was writing aways very aware with inadvertent ignition office. The piece cost of the ignition switch went up 90 cents and 400,000 in tooling and almost 500,000 doll in volume. Another gm document showed the Company Already decided cost was too high. In report entitled, quote, cost estimate to change the vehicle key for the cobalt only, the author writes, quote, none of the solutions represents an acceptable business case. In other words the solution is too expensive that very report says a lengthy lead time cost and no guaranty their proposed fix would fully solve the problem. By last year, federal regul