Fuel and jobs……
The thought process is still pretty simple, improved activity leads to improved profits. When you have an $SPY and $DJI nowhere near overvalued levels, that would imply more upside from here.
The Ceridian Index continues to trend upwards. Be careful with this index, it tends to peak in summer then fall or go flat for the remainder of the year (save for 2009). Should it do this again in 2011, it by no means implies the economy is slowing. As long as it does not cliff dive, things are progressing normally. Should it actually rise……..then things are going very well.
ASA Temp Staffing continue to signal the employment picture is improving as the index rise to 93
It’s the first time since November 2008 that job openings have been at or above three million for two consecutive months. The number of workers hired was little changed at four million while total separations was about flat at 3.8 million.
