I think these numbers have the potential to drive the Fed to do an inter-meeting cut. The economy is slowing down, and I think we'll see more of this before it's over.
As the economy gains traction, we'll have demand increasing. And if we have supply contracting, it's a deadly mix. We will end up stunting any potential recovery.
There is a lot of pain, and if anything these statistics are understating the pain, ... At the same time the economy is showing some potential signs of improvement, you're not finding a lot of firms offering jobs.
Oil prices have not been a positive for the equity market with the potential for rising inflation.