- Dow under pressure on the back of EU talks with Greece
- There is a lot of room for the market to decline pending the Fed’s announcements
- The consensus is that rates will hike September or later
- If Fed does not rates in September, Election year next year might also put off rate hikes
- Bloomberg article quotes B of A hinting that additional stimulus would further damage the economy
- B of A admits this risk has been getting the least amount of attention
- Empire State Manufacturing Index missed 5.9 forecast – came in at -1.98
- May Industrial Production expected +.2 – came in at -.2
- Capacity Utilization dropped 78.3 to 78.1
- Manufacturing down .2
- Industrial Production has been negative for 4 of the last 6 months
- Currency markets still believe Fed will raise rates
- Consumer spending was up in May because of rise in gas prices
- Weekly Jobless claims saw a slight uptick – exceeded forecast
- Bloomberg Consumer Comfort Index continues to decline
- Listener’s Questions, Peter’s Answers to resume on this podcast
- Submit your questions on schiffradio.com
Podcast: Download
