The...."OLD"....story of the day. US employment falls by 911,000 in government revision, revealing weaker-than-reported jobs market https://finance.yahoo.com/news/us-e...aker-than-reported-jobs-market-144822652.html (BOLD is my opinion OR what I consider important content) "The US economy employed 911,000 fewer people than originally reported as of March 2025, providing stark new evidence that the labor market was downshifting long before this summer. The data covers the period from April 2024 to March 2025 and trims the average monthly jobs gains seen during this period (roughly the last 10 months of Joe Biden's presidency and the first two months of Trump's) from a monthly average of 147,000 to about 71,000. Data had previously suggested the economy added about 1.76 million jobs in that 12-month span. The new total is less than half that, marking another larger-than-average downward revision that immediately provided fuel for critics of the government's data collection process. The White House and allies of President Trump quickly seized upon the revisions as showing that the president inherited a weaker economy than previously thought and that, as Vice President JD Vance put it, "It's difficult to overstate how useless BLS data had become." The revisions also increased political pressure on Jerome Powell, with White House press secretary Karoline Leavitt saying the central banker "has officially run out of excuses and must cut the rates now." These job revisions are evidence that job growth was "not as strong as the Fed thought," added PNC Financial Services Group chief economist Gus Faucher on Yahoo Finance, adding it was evidence that interest rates are currently too high and "the Fed may need to cut interest rates in the near term in order to support the labor market." The report showed that the largest downward revisions were in leisure and hospitality, which saw 176,000 fewer jobs than previously thought. The professional and business services industry was second, with a downward revision of 158,000 jobs. The revisions are almost entirely in the private sector, showing 880,000 fewer jobs there, as well as 31,000 fewer government jobs. The backward-facing data also came in well above the expectations of many economists, who had estimated that these revisions would be hundreds of thousands of jobs lower. A final revised number for this period is not set to be released until February 2026. A transition to harder sources of jobs data Jobs revisions are a routine practice in which the Bureau of Labor Statistics (BLS) and other government agencies update their estimates of job levels as more concrete data sources — such as quarterly insurance tax filings — become available. The revisions unveiled Tuesday are an adjustment to previous estimates that were largely based on surveys. But job revisions have been consistently above average in recent years as response rates to surveys have declined and have also become a political flash point. This has been especially true since last year's preliminary annual revisions landed in the middle of the presidential campaign and showed the US economy employed 818,000 fewer people than previously thought. And the political heat has only increased in recent months after Trump reacted to a monthly jobs report by accusing the BLS, without evidence, of having "phony" numbers and then firing the agency's commissioner. Trump's pick for a new BLS commissioner, E.J. Antoni of the Heritage Foundation, is expected to have a confirmation hearing before the Senate's labor-focused panel in the coming months. Antoni has proved to be a polarizing pick as Trump aims to put one of the agency's fiercest critics in charge of data collection going forward. Both Antoni and various Trump aides have seized upon larger-than-normal revisions seen in recent years to argue that new approaches to data are needed, especially a rethinking of surveys. Tuesday's release is likely to increase those calls. The data is also being used as fodder by the White House to try to shift blame for the current slowdown toward Biden or Federal Reserve Chair Jerome Powell, whom Trump for months has said is "too late." Trump has repeatedly lobbed the "too late" charge, including Tuesday morning in a social media post before the number was released. The president quoted a market analyst who said Powell should have begun cuts in 2021 and that the 2% inflation target is "too rigid."" MY COMMENT So for the last government.....we have now MAGICALLY lost over 1.6MILLION jobs......from what was reported earlier. This is OBSCENE. Here we are in the computer and AI era and we can not even get the jobs data accurate to within 50%. A WILD ASS GUESS would be more accurate. It is a good thing "I" am not in charge.....I would clean house at the BLS.....not just the head. TOTAL INCOMPETENCE. AND....the real question.....why do we put up with this?
I commented on this the other day. the general economy seems healthy to me and the consumer is alive and well. US consumer finances stay robust even as jobs data cloud economic outlook, bankers say https://finance.yahoo.com/news/us-consumer-finances-stay-robust-191231945.html "NEW YORK (Reuters) -U.S. consumers remain in good financial health and there are little signs of credit quality deterioration, according to the nation's top banking executives, despite data showing the job market is cooling off. Leaders from Bank of America, Citigroup and Wells Fargo told investors this week that consumers were continuing to spend money and mostly pay their debts on time."......
I like this little story.....another step forward. Nvidia debuts Rubin CPX GPU for massive AI applications https://finance.yahoo.com/news/nvid...pu-for-massive-ai-applications-150047032.html (BOLD is my opinion OR what I consider important content) "Nvidia (NVDA) on Tuesday unveiled its new Rubin CPX GPU at the AI Infra Summit in Santa Clara, Calif. According to Nvidia, Rubin CPX is “purpose-built to handle million-token coding and generative video applications.” Tokens are a unit of data in AI and can represent everything from words to pieces of video and audio. Every time you use a service like ChatGPT, Claude, Gemini, or Grok they break down your questions and requests into tokens to serve up an answer. The Rubin CPX will work with the company’s Vera CPU and Rubin GPU as part of Nvidia’s Vera Rubin NVL 144 CPX platform. NVL 144 means that the system has 144 GPUs. “The Vera Rubin platform will mark another leap in the frontier of AI computing—introducing both the next-generation Rubin GPU and a new category of processors called CPX,” Nvidia CEO Jensen Huang said in a statement. “Just as RTX revolutionized graphics and physical AI, Rubin CPX is the first CUDA GPU purpose-built for massive-context AI, where models reason across millions of tokens of knowledge at once.” According to Nvidia, the Vera Rubin NVL 144 CPX will offer 7.5x more AI performance than the company’s Grace Blackwell based BG300 NVL 72 system. That, the company says, will also help customers monetize their AI platforms with Nvidia estimating they could see $5 billion in token revenue for every $100 million invested. The Rubin CPX will be available at the end of 2026. Shares of Nvidia are up 25% year-to-date and 63% over the last 12 months. The company reported better than anticipated earnings per share and revenue in Q2, but missed slightly on Data Center segment revenue. Nvidia’s largest customers are cloud service providers, which make up roughly 50% of the company’s sales. The chip giant is also working its way through resuming shipments of its H20 GPU to customers in China. President Trump initially banned the sale of the processor in April, but reversed course in July. He later announced that the US government would take a 15% cut of chip sales to the region. During a conversation with Yahoo Finance following the company’s earnings call, Huang said production of Nvidia’s next-generation Blackwell chips is “ramping at full speed, and demand is extraordinary.” Trump, however, is also considering a 100% tariff on semiconductors, though he said that companies that build in the US will be exempt from the duty. While Nvidia doesn’t build chips on its own, it contracts with companies like TSMC (TSM), which is building new plants in the US. MY COMMENT MORE good news for shareholders of the most disrespected.....but.....greatest company in the world....perhaps in investing history.
We will get the PPI tomorrow and the CPI on Thursday. BUT....guess what? The data is produced by our friends at.......GASP.....BLS. Can we really trust any of this data....I dont think so. Why would this data be any more accurate than their employment data.....that was revised today?
OK...other than the above I see that I did not miss anything today. Waiting for the close to see how I did.
Hey Lori.....by "sooner than expected"....regarding the UK Prime Minister calling an election....I mean within about 3-6 months. Although that is as much of a "wild ass of a guess" as the BLS jobs data here in the USA. Dont bet the farm on it. Obviously you know way more about this than I do.....so I HUMBLY defer to your expertise.
OK....a good end to a meaningless short term day for me. I ended with a nice big gain today. Two red stoccks....HD, and AAPL. I also beat the SP500 today by.....0.84%. Moving on to PPI and CPI days.
Today was a BIG TIME TRIPLE. All three big averages closed at ALL TIME HIGHS. Yeah.....no doubt....I will have some money ready to invest in the next 2-3 days. "All three major indexes closed at record highs Tuesday as investors moved past concerns about the state of the U.S. economy. The S&P 500 index settled up 0.27% at 6,512.61, while the Nasdaq Composite gained 0.37% to end the day at 21,879.49, with the latter hitting a new all-time intraday high as well. The Dow Jones Industrial Average finished up 196.39 points, or 0.43%, at 45,711.34, thanks to a surge in UnitedHealth shares." https://www.cnbc.com/2025/09/08/stock-market-today-live-updates.html
Toward the end of November in 2024....I posted my prediction for the SP500 by the end of 2025. That prediction was for.......6800. (See page 1110 of this thread.....post 22,185....on November 22, 2024.) We are now at SP500 of 6512.61. With 3.5 months to go I am at this point about 4.5% away from my number. Plenty of time to hit or beat my number for 2025. At the time this prediction was pretty out there.......but it was my considered view of where we would end the year in 2025. I believe the SP500 at that time was at .....5969.
