The PhillyInc morning note for May 19:
It's the third Thursday of the month and that means it's Philly Fed manufacturing outlook day! I know how many Philadelphia-area readers eagerly look forward to this day. (Grin.)
But it really is a survey that the moneyed set do pay attention to (for at least 5 minutes) because the Business Outlook Survey is viewed as an early indicator on national numbers for manufacturing. With some of the industrial numbers weakening of late, this will give another hint of what's going on in the sector. Look for the report here at 10 a.m.
Weekly jobless claims at 8:30 a.m. Want to see: Claims under 400,000. More important: the trend in the four-week moving average.
I eat my share of Hershey bars, and I don't recall seeing any golden tickets inside for the chance to run the Sweetest Company on Earth.
Saw this on Forbes' Medicine Show blog about what FDA restrictions on the sale of GlaxoSmithKline's Avandia, put in place last September, mean.
So LinkedIn, the social media site for the 9-to5 set, priced its IPO at $45 per share, which was far north of its initial target of $32 to $35 per share. Not many IPOs have had a "pop" this year, but given the superheated craze for all things social, LinkedIn could be different. Check ticker symbol LNKD later today to see if investors believe the hype. Here's a link to an AP story.
And we're off to start the day.