Singapore's jobless rate rose to a one-year high as firms slowed hiring amid choppy financial markets and a weakening global economy, and analysts warned that unemployment may climb in coming months.
The jobless rate rose to 2.3 percent in the April-June period after seasonal adjustments, compared to 2 percent in the previous quarter, the Ministry of Manpower said in preliminary data on Thursday.
Employment rose by 70,600 in the second quarter, slowing from a rise of 73,200 in the January-March period.
Economists said the rising jobless rate was evidence that the economic slowdown had extended beyond economic data and was spreading into the real economy, although Singapore's labour market is still expected to remain tight this year
- Source from Reuters
-----------------------------------------------------------------------------------------------
Negative indication that there are more worst to come, first of Aug will be a bad day both for index and volume.
Thursday, July 31, 2008
U.S. Recession May Have Started at End of 2007
U.S. Recession May Have Started at End of 2007
By Timothy R. Homan
July 31 (Bloomberg) -- The U.S. economy may have tipped into a recession in the last three months of 2007 as consumer spending slowed more than previously estimated and the housing slump worsened, revised government figures showed.
The world's largest economy contracted at a 0.2 percent annual pace in the fourth quarter of last year compared with a previously reported 0.6 percent gain, the Commerce Department said today in Washington. Growth for the period from 2005 through 2007 was also trimmed.
The revisions now reinforce measures such as employment and production that already signaled the economy was shrinking. The government also said incomes grew less than previously thought, raising the risk that consumer spending will again stumble after getting a temporary boost from the tax rebates last quarter.
-----------------------------------------------------------------------------------------------
U.S. Economy Grew Less Than Forecast Last Quarter (Update2)
By Bob Willis
July 31 (Bloomberg) -- The U.S. economy expanded less than forecast in the second quarter as the drag from housing and rising unemployment blunted the impact of federal tax rebates.
The economy grew at a 1.9 percent annualized rate after expanding 0.9 percent in the first quarter, the Commerce Department said in Washington. The report also showed a recession may have begun in the final three months of 2007, as gross domestic product was revised to show a contraction in the period.
-----------------------------------------------------------------------------------------------
Bad sign for market to come, as indication this is the worst credit crisis recession would not be expected so soon. From Last 3 month of 2007 to now is approximately 11mths which indicate it would not likely to recover soon from now. Now worldwide economy faced threats to both growth and inflation. Tough to deal with. My take tommorrow market will fall to even out pass 2 days gains.
By Timothy R. Homan
July 31 (Bloomberg) -- The U.S. economy may have tipped into a recession in the last three months of 2007 as consumer spending slowed more than previously estimated and the housing slump worsened, revised government figures showed.
The world's largest economy contracted at a 0.2 percent annual pace in the fourth quarter of last year compared with a previously reported 0.6 percent gain, the Commerce Department said today in Washington. Growth for the period from 2005 through 2007 was also trimmed.
The revisions now reinforce measures such as employment and production that already signaled the economy was shrinking. The government also said incomes grew less than previously thought, raising the risk that consumer spending will again stumble after getting a temporary boost from the tax rebates last quarter.
-----------------------------------------------------------------------------------------------
U.S. Economy Grew Less Than Forecast Last Quarter (Update2)
By Bob Willis
July 31 (Bloomberg) -- The U.S. economy expanded less than forecast in the second quarter as the drag from housing and rising unemployment blunted the impact of federal tax rebates.
The economy grew at a 1.9 percent annualized rate after expanding 0.9 percent in the first quarter, the Commerce Department said in Washington. The report also showed a recession may have begun in the final three months of 2007, as gross domestic product was revised to show a contraction in the period.
-----------------------------------------------------------------------------------------------
Bad sign for market to come, as indication this is the worst credit crisis recession would not be expected so soon. From Last 3 month of 2007 to now is approximately 11mths which indicate it would not likely to recover soon from now. Now worldwide economy faced threats to both growth and inflation. Tough to deal with. My take tommorrow market will fall to even out pass 2 days gains.
Wednesday, July 30, 2008
300708
U.S. Companies Increased Payrolls by 9,000, The increase followed a revised drop of 77,000 for the prior month that was smaller than previously estimate.
Straight after the news dow future climb up tremendously, that is a good sign for rebound. Expect dow to +150 or more. For tomorrow SGX will be expected to climb back after few days of low volume.
Straight after the news dow future climb up tremendously, that is a good sign for rebound. Expect dow to +150 or more. For tomorrow SGX will be expected to climb back after few days of low volume.
Swiber
Bought swiber at 1.89 despite downtrend, undervalued play. Going for long term investment.
Market Capitalization (US$) 622,944K
Revenue 66,772K
Earnings Per Share (EPS) 0.140
P/E Ratio 10.37
It has hit a 52 week low of 1.86 and from todays activity i can see it is quite resilient hovering at 1.87-1.90 at late afternoon. I am taking a big bet that the support at 1.86 will not be broken if broken i will be cuting loss at 1.83 at 3% loss. Small position to anticipating for the rebound
Swiber is expected to handle 500mil + project for yr 2009 and 2.05bil for the next 5 year. From its turn over since 2006 at 67mil, 2007 at 151mil, 2008 at 439mil and still counting.
Market Capitalization (US$) 622,944K
Revenue 66,772K
Earnings Per Share (EPS) 0.140
P/E Ratio 10.37
It has hit a 52 week low of 1.86 and from todays activity i can see it is quite resilient hovering at 1.87-1.90 at late afternoon. I am taking a big bet that the support at 1.86 will not be broken if broken i will be cuting loss at 1.83 at 3% loss. Small position to anticipating for the rebound
Swiber is expected to handle 500mil + project for yr 2009 and 2.05bil for the next 5 year. From its turn over since 2006 at 67mil, 2007 at 151mil, 2008 at 439mil and still counting.
Tuesday, July 29, 2008
290708
US stock rise on drop of crude oil and US major company US steel crop reported best gain in seven years and a retreat in oil prices improved the earnings prospects for retailers and transportation companies.
That is a great news for the economy as oil price drops retailers, transportation etc would have higher net revenue. But is the fall in oil price permanent is the main issue here, right now US coporate companies reported profits have slumped 23 percent, that isnt a right catalyst for a rebound.
The search for market bottom is increasing near as one of the key economic indicator has already show signs for bottoming. The market sentiment confidence is currently at a 28-year low.
More information can found here
http://www.nextinsight.com.sg/
That is a great news for the economy as oil price drops retailers, transportation etc would have higher net revenue. But is the fall in oil price permanent is the main issue here, right now US coporate companies reported profits have slumped 23 percent, that isnt a right catalyst for a rebound.
The search for market bottom is increasing near as one of the key economic indicator has already show signs for bottoming. The market sentiment confidence is currently at a 28-year low.
More information can found here
http://www.nextinsight.com.sg/
280708
With current situation we are looking at Dow Jone direction for indication for rebound. Because current coporate earning report a average lower revenue, dow plunge to 11,131.08. Hope for rebound is faint. Dow support stands at 10580, we are likely to restest 10580 or even make a new low.
Singapore Stock Market Analysis
I will be starting a new blog on trading, investment methods and daily index analysis, hope you all will find it useful.
Fatboy
Fatboy
Subscribe to:
Posts (Atom)
