We warned late March that gasoline prices would cut considerably into consumer activity, would cut considerably into GDP. Wall Street, resorting to all sorts of fancy formulas, disagreed. A growing chorus has now come to understand. It is too late.
Next, we predicted that the high risk of further violence in the Middle East put a floor under crude, yet that commodity plummeted today on the threat of a slowing economy. We’re not oil analysts but we understand the Middle East pretty well.
Finally, we noted Monday that tomorrow’s Payroll release carries great potential to worry the market, a little to cheer it. It’s not going to be awful, but likely south of expectations (+190M).
Robert Craven
Next, we predicted that the high risk of further violence in the Middle East put a floor under crude, yet that commodity plummeted today on the threat of a slowing economy. We’re not oil analysts but we understand the Middle East pretty well.
Finally, we noted Monday that tomorrow’s Payroll release carries great potential to worry the market, a little to cheer it. It’s not going to be awful, but likely south of expectations (+190M).
Robert Craven
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