Tag: finance

Two American healthcare workers, described as in ‘grave condition and worsening’ are being infected by the Ebola virus are on their way to Atlanta’s Emory University Hospital for treatment. As WSBTV reports, the hospital has a separate isolation unit set up in partnership with the CDC to treat serious infectious diseases. CDC officials have called this “the biggest and most complex Ebola outbreak in history.” Sentiment across social media appears rather biased towards the negative on bringing the patients back. As we warned last night, there are significant implications should Ebola come to America. WE also note that while the CDC is not screening airline passengers, customs and border agents are on heightened alert for ‘people with flu-like symptoms.”

As WBSTV reports,

The hospital has a special isolation unit set up in collaboration with the Atlanta-based Centers for Disease Control and Prevention to treat patients with serious infectious diseases.

 

At least one of the two will be taken to a hospital at Emory University, near the headquarters of the U.S. Centers for Disease Control and Prevention in Atlanta, according to CNN.

 

A spokeswoman told Channel 2 Action News she did not know when the patients would arrive, but confirmed the patients are from west Africa. The Associated Press reported the patient is an American aid worker.

 

“It is physically separate from other patient areas and has unique equipment and infrastructure that provide an extraordinarily high level of clinical isolation,” a spokesman said in a release.

 

Sources told CNN the two Americans being evacuated are Dr. Kent Brantly and Nancy Writebol. Both are described as being in grave condition but are stable after their health worsened overnight.  Both healthcare workers have been in Liberia with the faith-based charity Samaritan’s Purse.

 

The hospital said doctors, nurses and staff are trained in procedures to handle this type of patient.

 

The hospital is only one of four such facilities in the country.

 

…

 

“This is the biggest and most complex Ebola outbreak in history. Far too many lives have been lost already,” said CDC Director Tom Frieden, M.D., M.P.H. “It will take many months, and it won’t be easy, but Ebola can be stopped. We know what needs to be done. CDC is surging our response, sending 50 additional disease control experts to the region in the next 30 days.”

Protection…

Airline officials were told to notify the CDC before ill passengers board a plane. The CDC will then investigate ill passengers and quarantine them if necessary. 

 

Channel 2’s Dave Huddleston spoke with officials at Hartsfield-Jackson International Airport who said customs and border protection agents are on heightened alert to watch for people with flu like symptoms.

 

At this time, the CDC will not screen passengers traveling from the affected countries, but will provide guidance to airlines for managing ill passengers and crew for disinfecting the aircraft.

*  *  *

Donald Trump has a view…

Stop the EBOLA patients from entering the U.S. Treat them, at the highest level, over there. THE UNITED STATES HAS ENOUGH PROBLEMS!

— Donald J. Trump (@realDonaldTrump) August 1, 2014

via Zero Hedge http://ift.tt/1m5raOw Tyler Durden

Two American healthcare workers, described as in ‘grave condition and worsening’ are being infected by the Ebola virus are on their way to Atlanta’s Emory University Hospital for treatment. As WSBTV reports, the hospital has a separate isolation unit set up in partnership with the CDC to treat serious infectious diseases. CDC officials have called this “the biggest and most complex Ebola outbreak in history.” Sentiment across social media appears rather biased towards the negative on bringing the patients back. As we warned last night, there are significant implications should Ebola come to America. WE also note that while the CDC is not screening airline passengers, customs and border agents are on heightened alert for ‘people with flu-like symptoms.”

As WBSTV reports,

The hospital has a special isolation unit set up in collaboration with the Atlanta-based Centers for Disease Control and Prevention to treat patients with serious infectious diseases.

 

At least one of the two will be taken to a hospital at Emory University, near the headquarters of the U.S. Centers for Disease Control and Prevention in Atlanta, according to CNN.

 

A spokeswoman told Channel 2 Action News she did not know when the patients would arrive, but confirmed the patients are from west Africa. The Associated Press reported the patient is an American aid worker.

 

“It is physically separate from other patient areas and has unique equipment and infrastructure that provide an extraordinarily high level of clinical isolation,” a spokesman said in a release.

 

Sources told CNN the two Americans being evacuated are Dr. Kent Brantly and Nancy Writebol. Both are described as being in grave condition but are stable after their health worsened overnight.  Both healthcare workers have been in Liberia with the faith-based charity Samaritan’s Purse.

 

The hospital said doctors, nurses and staff are trained in procedures to handle this type of patient.

 

The hospital is only one of four such facilities in the country.

 

…

 

“This is the biggest and most complex Ebola outbreak in history. Far too many lives have been lost already,” said CDC Director Tom Frieden, M.D., M.P.H. “It will take many months, and it won’t be easy, but Ebola can be stopped. We know what needs to be done. CDC is surging our response, sending 50 additional disease control experts to the region in the next 30 days.”

Protection…

Airline officials were told to notify the CDC before ill passengers board a plane. The CDC will then investigate ill passengers and quarantine them if necessary. 

 

Channel 2’s Dave Huddleston spoke with officials at Hartsfield-Jackson International Airport who said customs and border protection agents are on heightened alert to watch for people with flu like symptoms.

 

At this time, the CDC will not screen passengers traveling from the affected countries, but will provide guidance to airlines for managing ill passengers and crew for disinfecting the aircraft.

*  *  *

Donald Trump has a view…

Stop the EBOLA patients from entering the U.S. Treat them, at the highest level, over there. THE UNITED STATES HAS ENOUGH PROBLEMS!

— Donald J. Trump (@realDonaldTrump) August 1, 2014

via Zero Hedge http://ift.tt/1m5raOw Tyler Durden

The numbers have been ‘adjusted’ and all is well in the world. Never mind Chicago PMI, or US PMI, the ISM Manufacturing index for July printed 57.1 – the highest since April 2011 – well above expectations and last month’s 55.3. Employment rose notably (the opposite of US PMI) and inventories contracted. That’s the great news. Then there’s the meh news – consumer confidence slipped lower in July. Then there’s the horrible news – construction spending collapsed at 1.8% MoM – its biggest drop since Jan 2011. Take your pick which will define your bias.

The Good news…

ISM at 3 year highs

 

*  *  *

The meh news…

UMich confidence rose modestly from its preliminary level to 81.8 but remains lower MoM…

 

*  *  *

The bad news…

Construction Spending collapsed…

 

And some more from the ISM:

First, the comments, which we assumes are based on the correct seasonal adjustment:

The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee. “The July PMI® registered 57.1 percent, an increase of 1.8 percentage points from June’s reading of 55.3 percent, indicating expansion in manufacturing for the 14th consecutive month. The New Orders Index registered 63.4 percent, an increase of 4.5 percentage points from the 58.9 percent reading in June, indicating growth in new orders for the 14th consecutive month. The Production Index registered 61.2 percent, 1.2 percentage points above the June reading of 60 percent. Employment grew for the 13th consecutive month, registering 58.2 percent, an increase of 5.4 percentage points over the June reading of 52.8 percent. Inventories of raw materials registered 48.5 percent, a decrease of 4.5 percentage points from the June reading of 53 percent, contracting after five months of consecutive growth. Comments from the panel are generally positive, while some indicate concern over global geopolitical situations.”

 

Of the 18 manufacturing industries, 17 are reporting growth in July in the following order: Furniture & Related Products; Textile Mills; Apparel, Leather & Allied Products; Printing & Related Support Activities; Plastics & Rubber Products; Paper Products; Nonmetallic Mineral Products; Food, Beverage & Tobacco Products; Machinery; Chemical Products; Miscellaneous Manufacturing; Fabricated Metal Products; Electrical Equipment, Appliances & Components; Petroleum & Coal Products; Primary Metals; Transportation Equipment; and Computer & Electronic Products. The only industry reporting contraction in July is Wood Products.

Then, the breakdown. Note the plunge in inventories. Not good for an economy where 40% of “growth” is thanks to inventory accumulation:

Some of the more amusing respondents:

• “Russia’s demand for medical devices from the U.S. has dropped by 40 percent.” (Miscellaneous Manufacturing)
• “Geopolitics still present a considerable risk as well as the European market.” (Chemical Products)
• “Status quo…sales are okay (not great). Costs are generally flat.” (Food, Beverage & Tobacco Products)
• “We see slow growth in business as we see a slow growing economy.” (Fabricated Metal Products)
• “Business is still very good and we are very optimistic for the rest of the year.” (Transportation Equipment)
• “Bookings down, but shipments strong.” (Electrical Equipment, Appliances & Components)
• “Overall business conditions still good in our industry.” (Computer & Electronic Products)
• “Contractors are very busy. Difficult time getting many to bid, especially electrical.” (Paper Products)
• “Salaries for engineering labor continue to increase above general inflation due to market competition and shortages in certain specialty skills.” (Petroleum & Coal Products)
• “Economy shows many signs of strength.” (Machinery)

And while the following commodities are up in price:

• Aluminum (6);
• Benzene;
• Copper;
• Lumber (5);
• Molybdenum;
• Nickel (5);
• Polypropylene;
• Stainless Steel (5);
• Steel (8).

… that chronic shortage of helium appears to finally be over: :Wood Pallets is the only commodity reported in short supply.:

via Zero Hedge http://ift.tt/1sbHUJQ Tyler Durden

US Manufacturing PMI in July dropped to 3-month lows at 55.8, missing expectations by the most since Augiust 2013 as employment growth moderated to its slowest in 13 months. The 'excuse' this time – Russia and Gaza.

 

PMI tumbled…

 

and employment plunged…

 

Don't worry, we have an excuse for that:

“The one area of concern is the slacking pace of employment growth signalled by the survey, which suggests companies have become increasingly cautious about taking on new staff given growing uncertainties, such as the escalating situations in Russia and Gaza.

 

“With overseas worries likely to hit demand in key export markets, and exports having already stagnated in the past two months, overseas trade looks likely to continue to act as a drag on the US economy.“

via Zero Hedge http://ift.tt/1m5raOr Tyler Durden

US Manufacturing PMI in July dropped to 3-month lows at 55.8, missing expectations by the most since Augiust 2013 as employment growth moderated to its slowest in 13 months. The 'excuse' this time – Russia and Gaza.

 

PMI tumbled…

 

and employment plunged…

 

Don't worry, we have an excuse for that:

“The one area of concern is the slacking pace of employment growth signalled by the survey, which suggests companies have become increasingly cautious about taking on new staff given growing uncertainties, such as the escalating situations in Russia and Gaza.

 

“With overseas worries likely to hit demand in key export markets, and exports having already stagnated in the past two months, overseas trade looks likely to continue to act as a drag on the US economy.“

via Zero Hedge http://ift.tt/1m5raOr Tyler Durden

Another month, another case where the primary age group of the US work force, those aged 25-54, gets shafted.

According to the BLS’ household survey, while overall July jobs rose, if modestly less than the 209K revealed by the establishment survey, there was no joy for those aged 25-54: historically the most important and highest earning age group (in case anyone is wondering where all that missing average hourly earnings growth is) within the US labor force. As the chart below shows, while all other age groups posted a jobs uptick, it was those 25-54 that saw a 142K jobs decline in the past month.

 

And while total jobs may have recovered their combined losses since the start of the Second Great Depression in December 2007, it is cold comfort for the 25-54 age group, which still has some 2.5 million job gains to go before it recovers all losses.

 

The biggest winner? Old workers, those aged 55 and over as can be seen in the chart below.

 

And the following chart too, which shows that at 32.5 million, America has never had more workers aged 55 and over.

 

But please don’t blame the old workers: they are merely doing whatever they can to survive in a day and age in which the Chairsatan(ette) has made the lifetime product of their labor, their savings, worthless thanks to ZIRP and soon, NIRP.

If that means no jobs for other age groups, then please direct your complaints to the Marriner Eccles building.

via Zero Hedge http://ift.tt/1uOKRU9 Tyler Durden

As we noted yesterday, Goldman Sachs (and its muppeted clients) bought Banco Espirito Santo bonds and stocks at around 50c. Having lost more than two-thirds of their money on that trade, this happened…

• *BANCO ESPIRITO SANTO SAYS GOLDMAN SACHS CUTS STAKE TO BELOW 2%

BES stocks is down over 20% this morning to fresh record lows. So much for the short-selling ban – maybe time for a ‘selling’ ban.

 

via Zero Hedge http://ift.tt/1xKlpv0 Tyler Durden

For the third month in a row, personal spending missed Bloomberg’s median expectation. However, as incomes rose 0.4% in June so spending also rose 0.4% – its best MoM rise in 3 months. The biggest MoM rise was in energy goods and services (+1.67% MoM – the biggest rise this year) – hardly the things sustainable recoveries are built on.

 

via Zero Hedge http://ift.tt/1tCgS06 Tyler Durden

If today’s market desperately needed some bad news, it got it moments ago when the July payrolls printed at 209K, below the 230K expected, and far below the June upward revised 298K (was 288K). But is the momentum slowing enough to force the Fed to push QE back? The unemployment rate rose modestly from 6.1% to 6.2%, beating expectations of an unchanged print driven by a decline in the people out of the labor force from 92.1 million to 92.0 million while the labor force participation rate rose by a tiny 0.1% to 62.9%

The labor force charts: the people “out of it” declined by 119K to 92,001, while the LFP rate rose modestly from 62.8% to 62.9%. Fewer people retiring?

 

And perhaps the most imporant chart: average hourly earnings, rose just 2.0%, following a downwar revision to June’s 2.0% to 1.9%, below the 2.2% expected. So much for those soaring labor costs.

via Zero Hedge http://ift.tt/1naHugu Tyler Durden

While consensus is 230k, the whisper number for non-farm payrolls has ticked up to 270k from London’s earlier 260k according to Bloomberg’s Richard Breslow.

Here’s how the numbers may play out…

245k and equities cut losses and everyone heads to Fire Island on an early train

 

200k and USD hit, equities fly and everyone heads to Quogue on an earlier flight

 

300k and bonds get smoked, USD flies, EM vomits, equities utterly confused and floor clerks arrive disheveled and sweaty to a cold dinner in Bensonhurst

Goldilocks or Anti-Goldilocks?

via Zero Hedge http://ift.tt/XofTmY Tyler Durden