Key Events - U.S.

2010
9-3 - August unemployment rate increased from 9.5% to 9.6%, but non-farm payrolls were down 54,000, not as bad as expected.
8-27 - Q2 GDP up .4% and up 3.0% from a year ago.
8-21 - S&P 500 earnings were up 38% in Q2 from a year ago. Just a few companies left to report.
8-19 - Strategas Research Partners estimate S&P 500 earnings at $87 per share in 2011, in line with 11 others in a Bloomberg survey.
8-19 - CBO estimates real GDP will be up 3.0% in 2010 and 2.1% in 2011.
8-13 - Philadelphia Fed Survey: Estimate of U.S. GDP growth reduced from 3.3% to 2.9% for 2010 and from 3.1% to 2.7% for 2011.
8-10 - Federal Reserve keeps federal funds rate unchanged and says that they will be buying more Treasury securities.
8-9 - Goldman Sachs raised 2010 earnings estimate for the S&P 500 from $78 to $81 per share.
8-6 - July unemployment rate stayed at 9.5% with a loss of 131,000 jobs, a bigger loss than expected.
7-30 - Q2 GDP +3.2% from a year ago, but GDP figures for 2007-2009 were all revised lower.
7-30 - WSJ: 70% of S&P 500 companies have reported second quarter earnings and those earnings are up 42% from a year ago.
7-28 - Reuters: 49% of the S&P 500 companies have reported second quarter earnings and 77% of them have exceeded expectations.
7-22 - Several positive earnings reports in the U.S. give markets a lift.
7-14 - Federal Reserve lowered its 2010 GDP growth estimate from 3.55% to 3.25%. Expects 3.85% growth in 2011.
7-2 - June unemployment rate improved from 9.7% to 9.5% with a net loss of 125,000 jobs, as expected.
6-28 - Abby Cohen: Expects to see the S&P 500 at 1,250 by the end of 2010.
6-28 - G-20 members pledge to cut their budget deficits in half by 2013.
6-25 - Q1 GDP +.7% and up 2.4% from a year ago.
6-4 - May unemployment rate improved from 9.9% to 9.7%, but the gain of 430,000 jobs was disappointing since 411,000 of them were due to the hiring of census workers.
5-28 - Goldman: S&P 500 earnings estimates of $78 for 2010 and $93 for 2011.
5-27 - Q1 GDP +.75% and up 2.5% from a year ago.
5-26 - OECD est.: Real GDP +3.2% in 2010 and 2011.
5-7 - April unemployment rate increased from 9.7% to 9.9%, but with a net gain of 290,000 jobs, more than expected.
4-30 - Q1 GDP +.8% and up 2.5% from a year ago.
4-21 - IMF est.: Real GDP +3.1% in 2010 and +2.6% in 2011.
4-2 - March unemployment rate stayed at 9.7% with a gain of 162,000 jobs, less than expected.
3-26 - Greenspan: Recent rise in Treasury yield is "canary in the mine" signal of higher interest rates ahead.
3-26 - Q4 GDP +1.4%; up slightly from a year ago.
3-25 - Pimco's Bill Gross: "Bonds have seen their best days."
3-5 - February unemployment rate stayed at 9.7% with a loss of 36,000 jobs, a smaller loss than expected.
2-26 - Q4 GDP +1.4%; up .1% from a year ago.
2-18 - Fed increased discount rate from .50% to .75%.
2-10 - Bernanke hints that the discount rate will soon be raised.
2-5 - January unemployment rate improved from 10.0% to 9.7%, the best in five months. Loss of 20,000 jobs was a little disappointing.
1-29 - Q4 GDP +1.4%; up slightly from a year ago.
1-21 - Bank of Canada est.: U.S. real GDP +2.5% in 2010 and +3.9% in 2011.
1-8 - December unemployment rate stayed at 10.0% with a net loss of 85,000 jobs, a bigger decline than expected.
1-4 - ISM manfuacturing index increase from 53.6 to 55.9 in December, stronger than expected and the highest reading in almost four years.

2009
12-22 - Q3 GDP +.6%; -2.6% from a year ago.
12-11 - U.S. retail sales up 1.9% in November from a year ago, the first annual gain since August of 2008.
12-4 - November unemployment rate improved from 10.2% to 10.0%, much better than expected.
11-25 - U.S. jobless claims fall 35,000 to 466,000, the lowest in 14 months.
11-24 - Q3 GDP +.7%; -2.5% from a year ago.
11-19 - OECD GDP est.: +2.5% in 2010 and +2.8% in 2011.
11-6 - October unemployment rate increased from 9.8% to 10.2%, higher than expected.
11-2 - ISM manufacturing index increased from 52.6 to 55.7 in October, stronger than expected. The employment index increased from 46.2 to 53.1, an unexpected sign of expansion.
10-29 - Q3 GDP +.9%; -2.3% from a year ago.
10-19 - Andrew Bary in Barron's: It's time to raise short-term rates to "a more normal 2%."
10-16 - September industrial production up .7%, better than expected and the fourth consecutive gain.
10-9 - U.S. exports up slightly in August, but down 21% v. year ago.
10-5 - ISM services index increased from 48.4 to 50.9 in September, stronger than expected and the first sign of expansion in over a year.
10-2 - September unemployment rate increased from 9.7% to 9.8%. NFP -263,000, a bigger drop than expected and the 21st consecutive decline.
10-1 - IMF est.: Real GDP -2.7% in 2009 and +1.5% in 2010.
9-30 - Q2 GDP down 3.8% from a year ago, a little better than expected.
9-15 - August retail sales +2.7%, best monthly gain since January of 2006.
9-15 - Bernanke says recession 'very likely over.'
9-14 - Jim Rogers: 'I Expect a Currency Crisis or Semi-Crisis'
9-10 - U.S. exports up 2% in August, but down 22% from year ago.
9-4 - August unemployment rate increased from 9.4% to 9.7%, the highest since June of 1983.
9-1 - ISM manufacturing index increased from 48.9 to 52.9 in August, better than expected and the highest since June of 2007.

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