Tuesday, August 03, 2010

Dow Jones ESI Hits Highest Level Since June 2008


NEW YORK, August 2, 2010 –"The Dow Jones Economic Sentiment Indicator (ESI) has given an upbeat signal on the economy, registering its biggest rise since October and a return to the level of June 2008.  The ESI rose to 42.3 in July (see chart above), two points higher than the 40.3 tracked in June 2010. The rise is modest, but it is an acceleration from the slender gains of recent months and implies some recent pessimism about the economy may be misplaced."

5 Comments:

At 8/03/2010 4:54 PM, Blogger BxCapricorn said...

June 2008...ah...a wonderful time when stocks were worth something...then came October 2008 and everything fell apart. Not surprisingly, the ECRI WLI looks eerily similar to June/July 2008, as it plummets past -10.7 this week.This link gets you their data download, see for yourself, Obi Wan.

http://www.businesscycle.com/files/ecri_data/uswliw.xls

I'm out of the market and completely in cash (except for a small inverse position, FYI).

 
At 8/03/2010 5:37 PM, Blogger Benjamin said...

Can you have deflation and a rising Dow at the same time?
Stay tuned.

 
At 8/03/2010 6:10 PM, Blogger bix1951 said...

Bearishness is its own reward.
Don't bet against America.
There will be growth in the spring.
One thing you can't predict is the future.

 
At 8/03/2010 7:36 PM, Blogger BxCapricorn said...

Actually, the only thing you CAN predict is the future. Predicting the past is impossible, and the present is happening in real time...so...thanks for the advice.

Enjoy the deflationary spiral.

 
At 8/03/2010 9:36 PM, Blogger Bill said...

The certainty of the pessimists today is just as amusing as the certainty of the housing optimists was four years ago. They are two sides of the same coin.

 

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