Friday, January 18, 2013
Thursday, January 17, 2013
from Zero Hedge:
34 people killed in hostage crisis in Algeria.
Citigroup disappoints on both top and bottom lines.
B of A must increase loan loss reserves.
Boeing dreamliner grounded world-wide.
China loses its edge.
And futures rocket higher. Reality is irrelevant!
Wednesday, January 16, 2013
Tuesday, January 15, 2013
The news is mostly bad today, but stocks are rebounding on the small amount of good news, ignoring all the bad news.
Germany has officially slipped into recession, with negative GDP in Q4. That sent stocks into decline throughout the night.
But then, retail sales for December in the U.S. was better than expected. Unfortunately, even that was mixed, with low-margin retail sales increasing more than expected, but high-margin electronics sales disappointing badly.
"As for the bad news: it was all in the Empires State Manfuacturing Index which missed expectations big, and in fact posted a decline from the abysmal November miss, revised to -7.30, and now down to -7.78, the sixth negative print in a row, on expectations of an unchanged print. This was the 5th miss in the series in the last 6 reports, the worst miss in 4 months, and the lowest number in 4 months." Zero Hedge
The debt ceiling debate is perhaps beginning to weigh on the financial markets again. Stocks are now at yesterday's lows during the day session.
Monday, January 14, 2013
Here are the headlines. These don't seem particularly insignificant to me, but Wall St doesn't seem to think they matter much.
Sunday, January 13, 2013
More than 90% of all the people who go onto SSDI never go back to work. This program was supposed to be short term until people could recover and go back to work. There are now 8.83 million people so disabled, they supposedly can’t work. There are only 12 million officially unemployed people in the country.