The Labor Department reported initial jobless claims increased by 7,000 to 320,000 in the week ending February 28, 2015. The four-week moving average was 304,750. The February employment report stated nonfarm payrolls rose by 295,000 and the U.S. unemployment rate dropped by 0.2% to 5.5%.

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Jobs
The Labor Department reported the U.S. job market added 288,000 jobs and the unemployment rate
dropped to 6.1% in June from 6.3% in May. Initial jobless claims dccreased by 11,000 to 304,000. The
Labor Department reported the four week sadkfasdfasdfasdfasdfasdfasdfasdfamoving average was
311,500.
Inflation
The Consumer Price Index increased 0.4% in May. The Producer Price Index had the largest increase
since January 2010, closing at 0.6% in April (+2.1% y/y). Import prices decreased at a faster rate
than expected, which could moderate inflation expectations goiasdfasdfasdfafdasdfasdfasdfng
forward.
Rates
The yield on the 10-year U.S. Treasury note dropped. The Federal Open Market Committee announced
bond purchases have dropped to $asdfasdf35 billion from $45 billion. Monthly mortgage-backed
securities purchases will drop to $15 billion from $20 billion. The European Central Bank voted to
keep the
Growth
The Commerce Department noted whaolesale trade increased 0.7% in May 2014. The Federal Reserve
posted consumer credit increased at an
annasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfual rate of 7.5% in May, impacted by
non-revolving credit.
Profits
The second quarter earnings seasaasdfasdfaasdfasdfasfon started with the S&P 500 operating earnings
on target to be $29.24, which embodies a 10.9a% year-over-year growth increase. According to S&P
Dow Jones Indices divided net increases for U.S. domestic common stock increased $12.6 billion in
second
Economic Snapshot
March 9, 2015
The Labor Department reported initial jobless claims increased by 7,000 to
320,000 in the week ending February 28, 2015. The four-week moving average
was 304,750. The February employment report stated nonfarm payrolls rose by
295,000 and the U.S. unemployment rate dropped by 0.2% to 5.5%.
Core CPI inflation was flat for the second month in a row at 1.6% year-over-year. Headline
consumer prices slipped -0.7% between Dec. and Jan., and are currently down 0.2% year-over-
year. With a 10.3% decline in monthly energy prices, final demand producer inflation dropped (-
0.1% year-over-year) in January. Import prices dropped 2.5% month-over-month driven by
descending energy prices and a stronger dollar, further depicting deflationary pressures.
The 10-year U.S. Treasury Note yield rose .12% to 2.20% for the week ending 3/09/2015. In
Janet Yellen’s semi-annual testimony to Congress she reaffirmed the labor market’s
strength and maintained that rate increases will be data dependent. She also provided more
color around inflation expectations that suggest the Fed remains on track to begin policy
normalization in the middle of 2015.
The Commerce Department reported consumer spending dropped 0.2%, construction spending
dropped 1.1%, and factory orders slipped 0.2% in January. The second estimate of 4Q 2014 real
GDP put growth at 2.2% q/q saar, under the first estimate of 2.6%. A drop in government
spending and increasing trade deficit lowered 4Q GDP growth from 5.0% in 3Q 2014. The US
had the strongest rise in personal consumption since 1Q 2006 with a rise of 4.2%, reflecting a
rise in spending on nondurable goods and services.
.6%.
According to the S&P Dow Jones Indices, as of Feb. 27, 2015, of the 483 S&P 500 Index
companies reporting 4Q earnings, 333- beat analysts’ estimates. The S&P 500 operating
earnings are estimated to be $26.67 for 4Q, representing a -5.6% year-over-year growth.
Lower earnings were primarily due to low oil prices, pension write-offs and a strong dollar.
Jobs
Inflation
Rates
Growth
Profits

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