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Bird Flu, Money Printing, A Weak Job Report: Something Has To Give

ByNicholas Santiago
Published 04/05/2013, 02:13 PM
Updated 07/09/2023, 06:31 AM

This morning, the S&P 500 Index e-mini futures (ES-M3) are trading lower by 16.50 points to $1538.00 per contract. The stock futures are plunging today on the back of a falling European stock market, weak Asian stock market, and a terrible U.S. job report. Something has to give when the global stock markets are flooded with bad economic data. Earlier today, the U.S. Labor Department released the non-farm payroll report for the month of March. The report showed that the U.S. economy gained 88,000 new jobs for the month. This is a very disappointing number since economists were expecting 190,000 new jobs. If all of this money printing is supposed to create jobs and fix the economy it must really make the powers at be wonder what is going on.

Last night, the Nikkei 225 Index (Japan) finished the trading session higher by 1.99 percent. This rally in Japan is caused by money printing from the Japanese central bank. This type of inflation is not sustainable in the long run. Meanwhile, the Hang Seng Index (Hong Kong) plunged lower by 2.73 percent. This is a very unhealthy disconnect when two leading Asian stock markets can react so different on the same trading session. Traders should watch for weakness in most Chinese ADR's today. Some leading Chinese ADR's that could be volatile include Baidu Inc. (ADR) (BIDU), Sohu.com Inc (SOHU), China Unicom (Hong Kong) Ltd. (ADR) (CHU), and China Mobile Ltd. (ADR) (CHL).

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