Morning Brief Thursday August 9, 2012

Good Morning. We finally get some economic data including foreign trade and wholesale inventories. Both of which are June numbers so they will impact the next Q2 GDP revision. They will also tell us a lot about future economic activity.

Trade data will give us a sense of how the consumer is holding up in terms of imports. Remember, Americans like their low cost, imported goods. It will also tell us what impacts the global slowdown is having on US exports, which obviously has implications for the domestic economy.

The inventory data will also give us a sense of whether the inventory build continues or is reversing. At some point it will reverse and rather than expanded, inventory will be depleted. Unless somehow

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