{"id":10146,"date":"2010-07-08T13:31:10","date_gmt":"2010-07-08T17:31:10","guid":{"rendered":"http:\/\/www.thedisciplinedinvestor.com\/blog\/?p=10146"},"modified":"2016-09-20T07:27:43","modified_gmt":"2016-09-20T11:27:43","slug":"initial-claims-and-outlook-will-congress-act-before-spending-suffers","status":"publish","type":"post","link":"https:\/\/thedisciplinedinvestor.com\/blog\/2010\/07\/08\/initial-claims-and-outlook-will-congress-act-before-spending-suffers\/","title":{"rendered":"Initial Claims and Outlook &#8211; Will Congress Act Before Spending Suffers?"},"content":{"rendered":"<p>\u00ef\u00bb\u00bf\u00ef\u00bb\u00bf\u00ef\u00bb\u00bf\u00ef\u00bb\u00bfThere is mixed news again today. Notice how the market reacts on a day with no economic news (yesterday) and with one with news (today). The bulls are looking to charge, but have some reservations. Over the 1,068 level is a short term bull trend initiation.<\/p>\n<p>The real question from today&#8217;s data is: Will Congress act fast enough when they return on July 12th. Otherwise, spending will soften.<\/p>\n<ul>\n<li>Initial Claims 454K vs 460K Briefing.com consensus, prior revised to 475K from 472K<\/li>\n<\/ul>\n<p><a href=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/07\/Initial-20100708-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-10147 aligncenter\" title=\"Initial 20100708\" src=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/07\/Initial-20100708-1.jpg\" alt=\"\" width=\"573\" height=\"359\" \/><\/a><\/p>\n<ul>\n<li>Continuing Claims falls to 4.413 mln from 4.637 mln<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><a href=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/07\/All-Claims-20100708-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-10148 aligncenter\" title=\"All Claims 20100708\" src=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/07\/All-Claims-20100708-1.jpg\" alt=\"\" width=\"577\" height=\"350\" \/><\/a><\/p>\n<p style=\"text-align: center;\">\n<p>Good points to be noted from <a href=\"http:\/\/www.briefing.com\"><strong>Briefing.com<\/strong><\/a>:<\/p>\n<ul>\n<li> The initial claims level declined from 475,000 for the week ending June 26 to 454,000 for the week ending July 3. The Briefing.com consensus estimate was 460,000.<\/li>\n<li> More importantly, emergency benefits have been in a free fall over the past several weeks as the level dropped 367,948 for the week ending June 19. The move is in-line with last week\u2018s Department of Labor announcement that 3.3 mln emergency benefits are scheduled to expire by the end of July.<\/li>\n<li>Unless Congress can agree to extend the emergency benefits payouts, we could see a significant decline in income in both June and July. Since jobless benefits have been a major source of income stability over the past several months, the lost benefits will have adverse effects on our consumption forecasts.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u00ef\u00bb\u00bf\u00ef\u00bb\u00bf\u00ef\u00bb\u00bf\u00ef\u00bb\u00bfThere is mixed news again today. Notice how the market reacts on a day with no economic news (yesterday) and with one with news (today). The bulls are looking to charge, but have some reservations. Over the 1,068 level is a short term bull trend initiation. The real question from today&#8217;s data is: Will Congress [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5,12],"tags":[481,483],"class_list":["post-10146","post","type-post","status-publish","format-standard","hentry","category-economy","category-markets","tag-economy","tag-markets","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"acf":[],"_links":{"self":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/10146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/comments?post=10146"}],"version-history":[{"count":0,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/10146\/revisions"}],"wp:attachment":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/media?parent=10146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/categories?post=10146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/tags?post=10146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}