The report from New York is certainly consistent with what one would expect to see as an economy heads either into recession or more deeply into recession.
It could swing past the point where things look normal or OK to a point where things look bad again.
Its economy isn't as robust as thought and its housing market is under duress.
If the economy does happen to contract for a third consecutive quarter, will anyone in Washington call that a "recession"?
Poor July numbers erase hopes of a strong second half to the year, where lockdowns and the 'zero-Covid' policy have undermined confidence and activity.
The process of dealing with a delisted stock is painful for individual investors and impossible for many institutional investors.
Prices are continuing to rise, particularly for labor and rent, and that could put a drag on profits and consumer spending.
Just when is the Federal Reserve going to reduce the cash slosh, anyway?
This is an extremely tough market for new entries, but that is exactly why it keeps running.
One of the most dangerous things you can do in a market like this is to try to time a market turn.
All hail the new bull. Same as the old bull? Not a chance.
This is a tough market to chase, but charts should continue to develop
Weakness may present buying opportunities.
The real issue is whether or not it changes what the Fed does in the months ahead.
The idea that a hawkish Fed soon will become dovish and will cut rates rather than raise them doesn't seem likely to this trader.
Understand that recent spending plans passed in the Senate will work to counteract measures being taken by the Fed to gain the upper hand on inflation.
Here's the shift in the narrative I expect over the coming days.
The CPI report Wednesday is going to cause a more careful examination of inflation, a hawkish Fed, and a potential recession.
The argument over whether the market has priced in the macroeconomic negatives will be tested when the July CPI and PPI reports are released.
Look for more positioning on Tuesday ahead of two important economic reports.
With its economy in recession, Hong Kong is finally recognizing that it must 'live with Covid' like the rest of the world.
However, the July Consumer Price Index report later this week could change things.
It is hard to see how Europe can avoid a long recession at this point.
This may be a case of all news is good news as market players have been on a rampage and are looking for reasons to continue buying.
We'll be focused in particular on the underemployment numbers.
Here's what to expect in Friday's numbers, as well as my single biggest concern right now.
Is there more room to run? That's very likely. What could screw that up? Really anything.
Several Fed officials were out and about on Tuesday, and what they did was cause a selloff across Treasury markets.
The problem is the economy is weakening and rate hikes are going to slow things down even more.
I remain cautious, but that hardly means I'm sitting on my hands.