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Finance


Chicago PMI Collapses To 13-Month Lows, Biggest Miss On Record
submitted by mephisto 11 hours ago (via zerohedge.com)
We warned last month that under the covers Chicago PMI looked a lot weaker than the headlines and this morning's collapse confirms that. Against expectations of a small rise to 63.0, Chicago PMI plunged from 62.6 to 52.6 (13-month lows) for the biggest miss on record. According to the release itself, "A monthly fall of this magnitude has not been seen since October 2008 ." The was an 8 standard-de
 
Stocks Open Weak - Lose All July Gains
submitted by mephisto 11 hours ago (via zerohedge.com)
The Dow and S&P 500 are now in the red for July as stocks are opening weak this morning. Of course, the month's big loser is the Russell 2000 which is down 5.3% - its worst month in over 2 years. 
 
"Costs" For Who? Adidas Drops Most Ever After Slashing Guidance: Blames Russia
submitted by mephisto 11 hours ago (via zerohedge.com)
It would appear "Russia" is the new "weather" when it comes to missed earnings expectations. As Bloomberg reports, Adidas shares fell by a record after the world’s second-largest sporting-goods maker slashed its full-year profit forecast, bursting euphoria around the German company less than a month after its national team’s victory in the World Cup. The reason, aside from golf, "turmoil in Ru
 
Risk Off As Employment Costs Surge: This Is Where Wages Supposedly Rose The Most
submitted by mephisto 11 hours ago (via zerohedge.com)
While earlier today initial claims disappointed modestly to the upside, the economic print the market has been fascinated by is the otherwise C-grade economic indicator released by the BLS, the Employment Cost Index, which is quite a backward looking (today's release looked at Q2) at wages, salaries and benefits. The reason it is fascinated by it is that, supposedly, total employment costs rose th
 
Employment Costs Surge Most In 6 Years As Initial Claims Miss
submitted by mephisto 11 hours ago (via zerohedge.com)
Following last week's "seasonal volatility"-driven plunge in claims to new cycle lows, this week saw a 32k rise to 302k, missing expectations for the first time in 4 weeks. However, what is more worrisome for bullish equity market investors is the surge in employment costs. The Employment Cost Index jumped 0.7% (beating expectations of a 0.5% rise) - its biggest jump since Sept 2008. This is the b
 
Goldman Does It Again: Banco Espirito Santo Bonds & Stock Are Crashing
submitted by mephisto 11 hours ago (via zerohedge.com)
A week ago, investors were exuberantly buying Banco Espirito Santo (BES) stocks and bonds on the back of disclosures from Goldman Sachs that they have bought stakes in the bank "by virtue of its client transactions." This morning, Goldman along with its muppeted clients  (and hedge funds D.E.Shaw and Baupost) are licking their falling-knife-catching wounds as the stock of BES is dow
 
NIRP DERP: A Chart Of What Europe Economy Really Looks Like
submitted by mephisto 11 hours ago (via zerohedge.com)
Curious what Europe's true economic state is? The chart below, showing Europe's annual inflation or lack thereof, and which just dropped from 0.5% to 0.4%, missing estimates of an unchanged print despite the ECB's ongoing and losing war with disinflation, and soon deflation, shows all you need to know.From Eurostat:And from Bloomberg:Euro-area inflation (unexpectedly slowed in July to the weakest
 
Why the ECB Cannot and Will Not Be ABle to Create Growth in Europe
submitted by mephisto 11 hours ago (via zerohedge.com)
The ECB has just about everything it can at the crisis over there. But inflation continues to fall. Indeed, a mere one month after the European Central Bank or ECB announced NEGATIVE interest rates, or NIRP, (meaning you have to pay to deposit your money in a bank) the EU’s inflation readings fell again to 0.4%. This has Mario Draghi in a panic. As President of the ECB, he wan
 
Muppet Slaughter: Goldman Removes Adidas From Its "Conviction Buy" List Minutes After Its Biggest Drop In History
submitted by mephisto 11 hours ago (via zerohedge.com)
As reported earlier, following some horrifying guidance German sportswear titan Adidas tumbled by the most ever, blaming not the weather, or the World Cup, but Russia (leading some to wonder just who will be shouldering all those "costs" Obama refers to during every teleprompted appearance).What we didn't mention is that today's record massacre of Adidas longs happened minutes before Goldman decid
 
Propaganda Full Frontal: A Little High Level Intervention And This Is What Happens
submitted by mephisto 11 hours ago (via zerohedge.com)
While one can attribute the most recent AP tweeting faux pas to a missed English grammar lesson, when in the aftermath of the MH-17 crash, this:BREAKING: Dutch military plane carrying bodies from Malaysia Airlines Flight 17 crash lands in Eindhoven.— The Associated Press (@AP) July 23, 2014... became this:CLARIFIES: Dutch military plane carrying Malaysia Airlines bodies lands in Eindhoven.— Th
 



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