Economics Update

It's a pretty slow day news wise, because everyone is waiting on the ECB's decision on interest rates, and the latest unemployment numbers.

That being said, both Oil and gasoline hit new records, and the dollar is mixed.

Of more interest is, and some alarm, is that the the National Employment Report from Automatic Data Processing shows that 79,000 private sector jobs were lost in June, worse than the expected 40K jobs, and the worst number since 2002.

We also have factory orders rising, which sounds like good news, until you look closer and realize it's all energy costs.