Monday, June 13, 2011

Graduates Face 21.1 Applicants Per Job

Today, (an awareness campaign by Public Notice) released a new Web video titled “Is Washington Creating Our Job Crisis?” As the 1.7 million college students of the class of 2011 graduate, they face one of the highest unemployment rates for college graduates in U.S. history.
This video (runtime 1:01) launches just days after the Bureau of Labor Statistics reported that the economy produced just over 50,000 jobs in May, the lowest number of jobs created in 2011 and the fewest jobs in eight months.

With unemployment rising to 9.1 percent, college graduates aren’t the only ones worrying about their economic future. A recent poll conducted by the Daily Beast/Newsweek found that by almost four to one, Americans say our economy is not delivering the jobs we need. Americans are even losing sleep over the economic crisis: 56 percent are so angry about their personal economic situation that they have lost sleep.

Gretchen Hamel, Executive Director of Public Notice, said the following:
“Washington has been trying to convince the American people that we are in the midst of a recovery, but the American people aren’t feeling it. The latest unemployment numbers confirm what the public already knows: this economy remains stagnant and is not improving.

“Partisan politics in Washington haven’t created a single job; instead, it undermines meaningful solutions to the nation’s fiscal problems and fosters uncertainty during an already tumultuous economic period.”

Video Script: The class of 2011 will likely face the highest unemployment rate for college graduates… in history. 1.7 million college students will graduate this spring. Has Washington prepared the job market for this many new graduates? Unemployment is now 9.1 percent, the highest in 2011. Underemployed: 19.2 percent. This year: 21.1 applicants per job opening. High government spending makes businesses uncertain of future tax and interest rates, which leaves them unwilling and unable to invest in new jobs or growth. Uncertainty over the future of the economy is keeping American businesses from recovery. Are Washington’s policies fostering a climate of job creation? It’s time for Washington to stop overspending. It’s time for Washington to tackle the $14.3 trillion debt and promote job creation.

Updating the Intraday Arc Pattern Forming in Gold

At the start of last week, I showed the “Arc Pattern” trendline boundaries that were forming at the peak of the intraday arc in gold prices, and this week, the arc continues right on schedule.

Let’s take a look at the updated/current “Arc” pattern and then see where that structure takes us on the daily support chart.

As I noted last week, the upper boundary was roughly $1,550 while the lower boundary was $1,525.

Price continued to respect these boundaries appropriately, giving intraday traders quick opportunities to play ’scalp’ moves off these developing trendline boundaries.

Not much has changed, as the boundaries now have defined themselves clearer this week to $1,545 and $1,525/$1,530 as seen above.

The analysis is the same – as long as price continues to respect (bounce between) these levels, then you have your “roadmap” or game-plan for intraday/short-term trading opportunities.

Should price break firmly through either of these boundaries, then it would suggest pattern completion and a breakout/impulse phase would emerge, allowing for Breakout trading strategies.

I had a fun post last Wednesday – “Wednesday with Wyckoff” – regarding basic breakout trading tactics.

So that’s the intraday structure – the “Arc” – but let’s take a look of where that leaves us currently on the Daily Chart:

Before discussing current levels, I wanted to show the example of the prior “Arc” pattern from February into early March 2011.

Though the ‘rally’ phase was longer than present, daily (and intraday) gold prices formed a similar arc with negative divergences inside the pattern (as we have now).

The downside action continued, culminating in a strong sell-off bar that slammed the rising 50 day EMA at the confluence of the $1,400 “Round Number” support zone.

The test of the confluence support ended the retracement phase, and price quickly broke the upper ‘arc’ trendline, triggering a breakout buy signal that preceded the April rally.

And now to the present – we have a well-defined arc that is now coming into the support at the rising 20d EMA at $1,530.

It’s possible buyers enter here to support prices at the 20 EMA, but if they fail to do so, expect a similar retest (deeper retracement) of the rising 50d EMA as what took place in March.

It would then be up to buyers again to try for a retracement buy at the confluence of the 50d EMA and the $1,500 “Round Number” support (strange how structure aligns like that again).

In other words, watch the current price at $1,520 and if there’s no rally here, then expect the ’rounding arc’ to continue, leading to another retest of the rising 50d EMA. Watch what happens at the 50d EMA at $1,500 for clues as to what to expect from there.

Continue watching gold on the hourly/intraday timeframe with regard to this arc formation and trade appropriately (don’t get ahead of the arc!).

Corey Rosenbloom, CMT

Technically Precious with Merv



Gold remains within a long term up trending channel. It is, however, near the upper resistance line and one might expect a reaction towards the lower line about now. Having said that, there is not much more negatives from the long term perspective. All is roses at this point.

Gold remains well above its positive sloping long term moving average and the momentum indicator remains well inside its positive zone. Looking at a daily long term chart the momentum indicator is turning lower and has crossed below it trigger line but the trigger is still sloping upwards. The indicator is pushing very slightly into new higher ground but just slightly below it previous high in late 2008. The difference is not enough to justify any negative divergence view. The volume indicator, on a weekly basis, is heading into new all time high territory. On a daily basis it is also at new high levels but one can discern a possible topping activity in this indicator. Still, when all is put together we continue to have a BULLISH rating for the long term.


In the past few months gold has touched its intermediate term moving average line and bounced right back to the up side. It remains well above the line on the Friday close but a couple of volatile negative days could just see gold dropping below the line. The intermediate term momentum indicator remains in its positive zone but the action over the past few weeks suggest a very labored upside move. The topping is quite evident here. The indicator is now well below its lowest level over the past couple of weeks and heading down aggressively. It has moved below its trigger line and the trigger has turned to the down side. Still, it is some distance from dropping into its negative zone. As for the volume indicator, it remains above its positive sloping trigger line but in a topping trend. For the intermediate term the rating remains BULLISH but with more risk of turning negative than the long term. This rating is confirmed by the short term moving average line remaining above the intermediate term line.


Looking at the short term chart the indicators are literally screaming “topping”. Both the short term momentum and the more aggressive Stochastic Oscillator (SO) are now in their negative zones and seem to be heading even lower. The question now is not if gold is in a topping mode but how long it will stay there and how low will it go. Although I often do try to guess how far a trend will go I am more of a follower determining where we are now and what is the present direction of the trend. In the end I fall back on the tried and true technical concept that “a trend in motion remains in motion until a reversal has been verified”.

So, where are we now as far as the short term perspective is concerned? Gold has just closed below its short term moving average line and the line has turned to the down side. Gold is now at its lowest price in two weeks. As mentioned, the short term momentum indicator has now moved into its negative zone and is below its negative sloping trigger line. It did give us a short term negative divergence warning and has been making lower lows and lower highs for the past two weeks. As for the daily volume action, that has been pretty light over the past couple of weeks and remains below its 15 day average volume line.

Volume action is a tricky thing to try and assess. Too often it is not acting as the text books say it should act. I have found the volume action too often contrary to what one would expect. As an example, low volume action of down price moves is NOT necessarily bullish or bearish. It is just what one would expect from the actions of the masses who halt their activities during down days. Increased volume on up days is also not necessarily bullish. The masses just normally increase their activities when they see prices moving higher. They are afraid of missing out on the move. If one can determine what the NORMAL volume is on these up and down days then one can decide if the actual volume is increasing above the norm and is bullish or bearish. This norm is almost impossible to determine as it changes with time so to try and assess what the low volume action is telling us is next to impossible. How is that for a cop-out in not assessing the import of volume action?

Anyway, getting back to the indicators, they all are telling us that the short term rating is now BEARISH. However, the very short term moving average line has not quite crossed below the short term line so confirmation of this bear must wait another day.


I have just returned from two weeks on the move (some call it a vacation but it just seems like you work harder during a vacation trying to relax than you do during normal days). Today, I am a little behind time so I will cut the rest of the commentary short and return with a full commentary next week.

Silver has been under performing relative to gold ever since the plunge. Although the long term rating is still BULLISH both the intermediate and short term ratings are BEARISH. Just a personal view but it does look like silver will continue to under perform gold for some time still. It has over performed for some time so this may just be a getting even trend.


Gold declined 0.9% during the week but the stocks tumbled by 5% or more. Silver was up on the week but both silver Indices were lower, the Spec-Silver was down 7.5%. This disconnect between the performance of the commodity versus the performance of the stocks is not unusual. In fact I would say that one should consider such deviation as normal, on the up side as well as the down side.

One point to keep in mind, it is not unusual for the stocks to be LEADING indicators as to where the commodity is heading in the future, so traders in gold and silver should be very cautious when trading on the up side. One would be taking an extra amount of risk if one were trading in stocks on the up side at this time. It’s just not that bullish of an environment. Better to wait for things to turn around before jumping into the market, unless one is a short sell trader.

Well, that’s it for this week. Comments are always welcome and should be addressed to

By Merv Burak, CMT

6% Yield Stocks That Pay Monthly

What pays a yield of 6% or more, makes distributions monthly, is liquid, and has no minimum investment? The answer is monthly dividend closed end funds, also known as CEFs. Although technically not stocks, they are investment companies that hold high yield stocks and/or bonds and trade like stocks.

Some of the advantages to receiving monthly dividends as opposed to quarterly or annual dividend stocks include the fact that the invested capital is returned faster, compounding takes place more quickly, and there is generally less price volatility of the CEF. In addition, many of monthly dividend investments pay dividends that are tax free if they own municipal bonds in their portfolios.

According to the list that was recently updated at, there are over 200 different companies that pay dividends monthly, many of which have high yields, over 175 of which pay yields of 6% or more.

An example is the Calamos Convertible & High Income Fund (CHY), which pays a fairly yield of 7.3%. The management fee is on the high side at 1.13%. This CEF, founded in 2003, invests in high yield fixed income securities and convertible securities.

Another example is the MFS Multimarket Income Trust (MMT), which sports a yield of 7.8%. The stock trades at a slight discount to net asset value. The company, which has been around since 1987, has a management fee of 0.82%.

When choosing these investments, avoid the ones with high management fees, and also avoid the ones with low liquidity. Talk to your CPA if you invest in municipal bond closed end funds, in regards to the Alternative Minimum Tax. Try to chose the ones that trade at a discount to net asset value, and avoid the ones using excessive leverage.

To see the latest updated list of over 200 monthly dividend stocks, including many that have yields of 8% or more, go to Remember, very high yields may not be sustainable.

Disclosure: Author did not own any of the above at the time the article was written.

Money Today - June 2011

Money Today - June 2011
English | PDF | 101 pages | 32.1 MB

Money Today is a comprehensive, easy-to-read personal finance magazine that steers clear of the jargon that's common to money-related issues. Most important, it is utilitarian, offering readers clear tips on managing their money.

Investors nervous as stock market eyes correction

Just six weeks ago, the stock market hit its highest point in three years. Then came mounting evidence that the economic recovery may have stalled.

The Standard & Poor's 500 index has dropped 6.8 percent since April 29. Declining just as quickly: the hopes of many investors and economists for robust growth in the second half of the year. Industries likely to do well if growth is strong, such as financial, technology, and industrial, are already down 8 percent or more.

If the stock market drops 10 percent, it would signal a correction. Some market analysts, such as Citigroup's Tobias Levkovich, believe that the stock market is on that path now.

Corrections are common during bull markets, but one now could lead to more than the usual hand-wringing. That's because the Federal Reserve will end at the end of this month its program of buying Treasury bonds to support the economy by keeping interest rates low, which also makes stocks look attractive. The economy -- and by extension, the stock market -- will now need to show that it can expand without the Fed's help. What's more, the European financial crisis still isn't settled. Discussions about a second financial rescue package for Greece are two weeks away.

"No one rings a bell to let everyone know that we've hit a top or bottom (to the market)," says Nicolas Colas, the chief market strategist at ConvergEx Group, a technology and brokerage company in New York. And "no one knows how far this slide is going to go on for."

A drop of more than 20 percent would put an end to the bull market that started in March of 2009. The difference between a correction and a bear market, of course, is that a correction often presents a buying opportunity, and a bear brings prolonged pain. Corrections are fairly common during bull markets. There have been 18 of them in 12 bull market stretches since 1946, according to Standard & Poor's. They typically last four months and erase 14 percent of the stock market's value.

The reasons for a potential correction now are numerous. Thanks in part to high gasoline prices, the economy in the U.S. isn't growing as quickly as expected at the start of the year. Since the market's peak on April 29, more than 15 economic indicators, ranging from the number of new jobs added in May to how much consumers are spending at retailers, have been weaker than analysts had predicted. What's more, a scarcity of parts from Japan, which is in the midst of a recession after its tsunami and nuclear disaster, has also hurt U.S. companies and the global economy.

Some industries that prosper the most when the economy is growing are already close to a correction. Financial stocks in the S&P 500 have lost 9.7 percent since April 29. Energy, materials, and industrial companies aren't far behind: Each group has lost about 8.5 percent. Those four industries represent about 42 percent of the value in the S&P index. If they continue to fall, they could lead the rest of the market lower, Colas says.

That might not be all bad news. Buying during a correction can be profitable. The stock market's last correction started on April 23 of last year. By July 2, the S&P 500 had fallen 16 percent. Someone who bought then finished the year with a 24 percent gain, including dividends (without dividends, the gain was 23 percent.) That was nearly double the S&P 500's total gain for the year of 15 percent, including dividends, or 12.8 percent without. Of course, knowing when to buy during a correction isn't easy.

The fact that companies are still quite profitable is one reason analysts say they are guardedly optimistic that the market's recent losses will end. Many companies responded to the 2008 financial crisis by severely cutting staff, hoarding cash and restructuring their businesses to send profit margins higher. That has led to record profit margins for many companies.

So even if the economy is growing at only a 2 percent annual rate this quarter, as many economists now expect, corporate earnings should still be attractive enough to lift stocks broadly by the end of the year, says Paul Zemsky, the chief market strategist at ING Investment Management. Although the S&P 500 index is just below its historical price-earnings ratio of 15, he argues that stocks remain cheap compared with other assets like government bonds. The yield on the benchmark 10-year Treasury, for instance, is less than 3 percent.

"After months of being overly optimistic, people have become way too pessimistic about the future of the economy," he says. He believes that the S&P 500 will finish the year at around 1,400, which would be a 10 percent gain from its close Friday at 1,271. Forecasts from Bank of America and JP Morgan indicate support for that idea. The banks downgraded estimates for growth in the second quarter to about 2 percent, but expect stronger growth rates, of 2.9 percent or 3 percent, for the third and fourth quarters.

Others aren't so sure. Keith Goddard manages $250 million for Capital Advisors, an investment firm in Tulsa, Okla. He's worried because analysts have downgraded earnings estimates for some of his firm's top holdings, such as Qualcomm. And he thinks that there is at least a 1-in-5 chance that Greece will default on its bonds, which could lead to another financial crisis.

As a result, he's increased his cash holdings to 12 percent of his assets from 4 percent over the past six months. Defensive stocks like PepsiCo and Johnson & Johnson now make up nearly half of his portfolio.

If problems in Europe create a panic in the banking system, he says, "then you don't buy again until the market is down 25 percent."

“The Economic Crisis May Lead to Civil Unrest”

By Washingtons Blog

“CNN’s Jack Cafferty notes that a number of voices are saying that – if our economy continues to deteriorate (which it very well might) – we are likely headed for violence, and civil unrest is a growing certainty.

Newsweek wrote two weeks ago: “Reality is beginning to break through. Gas and grocery prices are on the rise, home values are down, and vast majorities think the country is on the wrong track. The result is sadness and frustration, but also an inchoate rage more profound than the sign-waving political fury documented during the elections last fall. In search of the earthly toll of this outrage, NEWSWEEK conducted a poll of 600 people, finding vastly more unquiet minds than not. Three out of four people believe the economy is stagnant or getting worse. One in three is uneasy about getting married, starting a family, or being able to buy a home. Most say their relationships have been damaged by economic woes or, perhaps more accurately, the dread and nervousness that accompany them. Could these emotions escalate into revolt?

Why are people so angry? Well, as the Newsweek article points out: “Corporate earnings have soared to an all-time high. Wall Street is gaudy and confident again. But the heyday hasn’t come for millions of Americans. Unemployment hovers near 9 percent, and the only jobs that truly abound, according to Labor Department data, come with name tags, hairnets, and funny hats (rather than high wages, great benefits, and long-term security). The American Dream is about having the means to build a better life for the next generation. But as President Obama acknowledged at a town-hall meeting in May, “a lot of folks aren’t feeling that [possibility] anymore.”

By way of background, America – like most nations around the world – decided to bail out their big banks instead of taking the necessary steps to stabilize their economies. As such, they all transferred massive debts (from fraudulent and stupid gambling activities) from the balance sheets of the banks to the balance sheets of the country. The nations have then run their printing presses nonstop in an effort to inflate their way out of their debt crises, even though that effort is doomed to failure from the get-go.

Quantitative easing by the Federal Reserve is obviously causing food prices to skyrocket worldwide. But the fact is that every country in the world that can print money – i.e. which is not locked into a multi-country currency agreement like the Euro – has been printing massive quantities of money. Moreover, the austerity measures which governments worldwide are imposing to try to plug their gaping deficits (created by throwing trillions at their banks) are causing people world-wide to push back.

As I warned in February 2009 and again in December of that year: Numerous high-level officials and experts warn that the economic crisis could lead to unrest world-wide – even in developed countries:

• Today, Moody’s warned that future tax rises and spending cuts could trigger social unrest in a range of countries from the developing to the developed world, that in the coming years, evidence of social unrest and public tension may become just as important signs of whether a country will be able to adapt as traditional economic metrics, that a fiscal crisis remains a possibility for a leading economy, and that 2010 would be a “tumultuous year for sovereign debt issuers”.

• The U.S. Army War College warned in 2008 November warned in a monograph titled “Known Unknowns: Unconventional ‘Strategic Shocks’ in Defense Strategy Development” of crash-induced unrest: “The military must be prepared, the document warned, for a “violent, strategic dislocation inside the United States,” which could be provoked by “unforeseen economic collapse,” “purposeful domestic resistance,” “pervasive public health emergencies” or “loss of functioning political and legal order.” The “widespread civil violence,” the document said, “would force the defense establishment to reorient priorities in extremis to defend basic domestic order and human security.” “An American government and defense establishment lulled into complacency by a long-secure domestic order would be forced to rapidly divest some or most external security commitments in order to address rapidly expanding human insecurity at home,” it went on. “Under the most extreme circumstances, this might include use of military force against hostile groups inside the United States. Further, DoD [the Department of Defense] would be, by necessity, an essential enabling hub for the continuity of political authority in a multi-state or nationwide civil conflict or disturbance,” the document read.”

• Director of National Intelligence Dennis C. Blair said: “The global economic crisis … already looms as the most serious one in decades, if not in centuries … Economic crises increase the risk of regime-threatening instability if they are prolonged for a one- or two-year period,” said Blair. “And instability can loosen the fragile hold that many developing countries have on law and order, which can spill out in dangerous ways into the international community. Statistical modeling shows that economic crises increase the risk of regime-threatening instability if they persist over a one-to-two-year period. The crisis has been ongoing for over a year, and economists are divided over whether and when we could hit bottom. Some even fear that the recession could further deepen and reach the level of the Great Depression. Of course, all of us recall the dramatic political consequences wrought by the economic turmoil of the 1920s and 1930s in Europe, the instability, and high levels of violent extremism.” Blair made it clear that – while unrest was currently only happening in Europe – he was worried this could happen within the United States.

• Former national security director Zbigniew Brzezinski warned “there’s going to be growing conflict between the classes and if people are unemployed and really hurting, hell, there could be even riots.”

• The chairman of the Joint Chiefs of Staff warned the the financial crisis is the highest national security concern for the U.S., and warned that the fallout from the crisis could lead to of “greater instability”.

Unemployment is soaring globally – especially among youth. And the sense of outrage at the injustice of the rich getting richer while the poor get poorer is also a growing global trend. Countries worldwide told their people that bailout out the giant banks was necessary to save the economy. But they haven’t delivered, and the “Main Streets” of the world have suffered. As former American senator (and consummate insider) Chris Dodd said in 2008: “If it turns out that the banks are hoarding, you’ll have a revolution on your hands. People will be so livid and furious that their tax money is going to line their pockets instead of doing the right thing. There will be hell to pay.”

Of course, the big banks are hoarding, and refusing to lend to Main Street. In fact, they admitted back in 2008 that they would. And the same is playing out globally. As I noted in February: “Agence France-Press reports today: The International Monetary Fund stands ready to help riot-torn Egypt rebuild its economy, the IMF chief said Tuesday as he warned governments to tackle unemployment and income inequality or risk war.

No wonder former U.S. National Security Adviser Zbigniew Brzezinski warned the Council on Foreign Relations that: “For the first time in human history almost all of humanity is politically activated, politically conscious and politically interactive. There are only a few pockets of humanity left in the remotest corners of the world that are not politically alert and engaged with the political turmoil and stirrings that are so widespread today around the world. America needs to face squarely a centrally important new global reality: that the world’s population is experiencing a political awakening unprecedented in scope and intensity, with the result that the politics of populism are transforming the politics of power. The need to respond to that massive phenomenon poses to the uniquely sovereign America an historic dilemma: What should be the central definition of America’s global role?

The central challenge of our time is posed not by global terrorism, but rather by the intensifying turbulence caused by the phenomenon of global political awakening. That awakening is socially massive and politically radicalizing. It is no overstatement to assert that now in the 21st century the population of much of the developing world is politically stirring and in many places seething with unrest. It is a population acutely conscious of social injustice to an unprecedented degree, and often resentful of its perceived lack of political dignity. The nearly universal access to radio, television and increasingly the Internet is creating a community of shared perceptions and envy that can be galvanized and channeled by demagogic political or religious passions. These energies transcend sovereign borders and pose a challenge both to existing states as well as to the existing global hierarchy, on top of which America still perches."

We live in an age in which mankind writ large is becoming politically conscious and politically activated to an unprecedented degree, and it is this condition which is producing a great deal of international turmoil. That turmoil is the product of the political awakening, the fact that today vast masses of the world are not politically neutered, as they have been throughout history. They have political consciousness. Politically awakened mankind craves political dignity, which democracy can enhance, but political dignity also encompasses ethnic or national self-determination, religious self-definition, and human and social rights, all in a world now acutely aware of economic, racial and ethnic inequities. The quest for political dignity, especially through national self-determination and social transformation, is part of the pulse of self-assertion by the world’s underprivileged.

As I’ve repeatedly noted, I am against violence for a number of reasons, the most important being that people advocating violence have probably not thought through George Orwell’s analysis that: “Ages in which the dominant weapon is expensive or difficult to make will tend to be ages of despotism, whereas when the dominant weapon is cheap and simple, the common people have a chance.” While I agree on the urgency of fundamentally changing things so that our nation (and world) aren’t driven over a cliff, I believe that – instead of violence – other methods must be found. Take that energy of being willing to die to protect your and your family’s freedoms, and put it into demanding change in an effective manner.”

US Economic Calendar For The Week

Date Time (ET) Statistic For Actual Briefing Forecast Market Expects Prior Revised From
Jun 14 8:30 AM Retail Sales May - -1.0% -0.7% 0.5% -
Jun 14 8:30 AM Retail Sales ex-auto May - 0.4% 0.2% 0.6% -
Jun 14 8:30 AM PPI May - 0.1% 0.1% 0.8% -
Jun 14 8:30 AM Core PPI May - 0.1% 0.2% 0.3% -
Jun 14 10:00 AM Business Inventories Apr - 1.0% 1.0% 1.0% -
Jun 15 7:00 AM MBA Mortgage Index 06/10 - NA NA -0.4% -
Jun 15 8:30 AM CPI May - 0.1% 0.1% 0.4% -
Jun 15 8:30 AM Core CPI May - 0.1% 0.1% 0.2% -
Jun 15 8:30 AM Empire Manufacturing Jun - 7.0 10.0 11.9 -
Jun 15 9:00 AM Net Long-Term TIC Flows Apr - NA NA $27.2B -
Jun 15 9:15 AM Industrial Production May - 0.2% 0.2% 0.0% -
Jun 15 9:15 AM Capacity Utilization May - 77.0% 77.0% 76.9% -
Jun 15 10:00 AM NAHB Housing Market Index Jun - 16 16 16 -
Jun 15 10:30 AM Crude Inventories 06/11 - NA NA -4.845K -
Jun 16 8:30 AM Initial Claims 06/11 - 425K 421K 427K -
Jun 16 8:30 AM Continuing Claims 06/04 - 3700K 3690K 3676K -
Jun 16 8:30 AM Housing Starts May - 540K 540K 523K -
Jun 16 8:30 AM Building Permits May - 560K 548K 551K -
Jun 16 8:30 AM Current Account Balance Q1 - -$130.0B -$130.0B -$113.3B -
Jun 16 10:00 AM Philadelphia Fed Jun - 5.0 7.0 3.9 -
Jun 17 9:55 AM Mich Sentiment Jun - 72.0 73.5 74.3 -
Jun 17 10:00 AM Leading Indicators May - 0.2% 0.4% -0.3% -