Thursday, July 16, 2009

Quick Overview

  • U.S. jobless claims fell 47,000 last week to 522,000.

  • The Philadelphia Federal Reserve's regional index of manufacturing fell from -2.2 to -7.5 in July.

  • YoY China's GDP rose 7.9% in Q2 after a 6.1% gain in the previous three months

  • China June Producer Price Index fell -7.8% versus -7.2% in May

  • China June Consumer Price Index fell -1.7% versus -1.4% in May

  • China June Retail Sales rose 15.0% China Jun. Industrial Production rose 10.7% YoY

  • China’s exports fell 21.4% in June -- that was an improvement over May's record 26.4% drop.

  • Japan’s tertiary index of services fell 0.1% in May.

  • The International Coffee Organization raised its estimate of 2008-2009 world coffee production from 126.1 to 128.8 million bags

  • (FT) CIT said overnight there was no “appreciable likelihood” of a government bailout, leaving the company facing a bankruptcy filing unless another last-minute restructuring deal can be struck.

  • J.P. Morgan Chase reported a 36% jump in profit.

  • Imports at the leading container ports increased 5% MoM compared with April, but were down 20% YoY.

  • (Economic Times) Jim Rogers "I do actually have a silver coin in my pocket. I also have a gold coin, but the silver one is probably my better play. If I were a bright young man, I would be buying sugar now and silver, given the state of the world. That's not a recommendation, but I am just saying I do own some silver. Silver is cheaper than many things on a historic basis and I do own some silver," Rogers said.

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