This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Manufacturing, Housing Data Whispers That Jobs Report Will Beat the Number

NEW YORK (TheStreet) -- Forecasters say the economy probably generated about 211,000 new jobs in June -- not much fewer than the 217,000 it churned out during May. But the drip of data coming out about the economy increasingly suggests that is too low.

The reason: Housing and manufacturing, two of the industries that most need to get cracking to get the unemployment below 6%, are finding a new gear. And if the better reports from those sectors turn into more jobs, then the summer will bring the expected bounce back from the first quarter, when job creation held up despite a 2.9% decline in gross domestic product.

The latest data today come from the Institute of Supply Management, whose monthly index of manufacturing activity dipped slightly to 55.3, on a scale where anything above 50 shows an expansion and above 55 generally means a strong one.  It was 55.4 last month, and as low as 51.3 in January -- and the crucial index of new orders rose 2 points to 58.9.

The Emperor's New Clothes

Why General Electric's Stock Can Still Shock Investors After Alstom

That followed a big gain in the Dallas Federal Reserve Bank's assessment of manufacturing conditions in the Lone Star state, released on Monday. The regional Chicago purchasing managers' index, also released by the ISM, showed a decline, but the index stayed at a very robust 62.6 and the production index (which measures how much is being made now) topped 70.

The news from housing -- the economy's big worry just a few weeks ago -- is also improving. Pending home sales jumped 6.1% in May, the National Association of Realtors said Monday. That's the biggest monthly jump since 2010, when an expiring tax credit created artificial demand. That followed a 19% gain in new home sales for May reported earlier in the month.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,072.72 +42.51 0.24%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs