Tuesday, November 11, 2014

Wednesday: Small Business Optimism

by Bill McBride on 11/11/2014 06:29:00 PM

From the LA Times: West Coast port slowdown raises fears of dockworker strike or lockout

A six-year agreement covering nearly 20,000 dockworkers at 29 West Coast ports expired July 1. The sides have been negotiating since May. In 2002, amid talks for a previous contract, employers accused the union of go-slow tactics, then locked out dockworkers for 10 days, shutting down ports along the West Coast.

Some businesses are worried that ports could be shut down again. ... During a shutdown ... some workers — including 20,000 dockworkers — would sit idle and not collect a paycheck.
Most of the holiday related goods have already arrived, but a shutdown could have a short term impact on the economy.

Wednesday:
• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 7:30 AM, the NFIB Small Business Optimism Index for October.

• At 10:00 AM, the Monthly Wholesale Trade: Sales and Inventories for September. The consensus is for a 0.2% increase in inventories.