Consumer sentiment fell to a preliminary July reading of 81.3, hitting a four-month low, from a final June level of 82.5, according to a Friday media report on the gauge from the University of Michigan and Thomson Reuters. Economists polled by MarketWatch had expected a July reading of 83, supported by a strengthening labor market. Economists watch sentiment levels to get a feeling for the direction of consumer spending
More lies,
What If Janet Yellen Is Wrong? - The New York Sun
Turns out, though, many of America’s largest corporations have been using low-cost money not to increase their workforce but to buy back their own stock in equity markets According to a study released in late June by the chief market strategist at brokerage firm LPL Financial, Jeffrey Kleintop, companies purchasing their own shares are the single biggest category of stock buyers. Not only can companies use buybacks to raise their share price, they can also push up the earnings-per-share number (even if earnings are flat) by reducing the amount of outstanding shares.If they're gaming the markets they're gaming the UE number as well.
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