Various reports are due out today concerning consumer spending etc etc. We already know that the news will indicate drops.
The market is expected to open lower with futures down from yesterday. Let's hope that at some point during the day a rally will make up for the expected losses.
The market is of course closed on Thursday, mercifully.
Governments are trying to hold back the tsunami. Stability would be nice.
Reuters: Wall Street futures point lower, economic data in focus
Futures for the S&P 500, the Dow Jones industrial average and the Nasdaq 100 are down 0.7-1.2 percent on Wednesday.Reuters: Oil edges above $51 ahead of U.S. fuel data
The slowing global economy has hit oil demand hard, with many analysts predicting demand growth next year could be flat or even fall for the first time since the early 1980s.Reuters: China slashes rates, EU launches stimulus plan
3 comments:
Have to admit I'm enjoying $1.82 gas for a change. Sad that if it stays at these levels people will just return to bad habits. We desperately need intervention by the State to stop a return to our addiction with this substance. GM , Ford etc. need to be forced to produce "green" cars. This is the moment while their weakened. It reminds me of the scene in an early star track where one of the crew gets turned into a God accidentally and slowly morphs into everyone's nightmare of what happens when a mere mortal is given such power. Gary was his name. His girl friend who also was effected starts to turn into a God as well but realizes Gary is turning evil and is convinced by Kirk to try and stop him. She battles him with her super power and weakens him for a moment. In that moment Kirk tries to kill him but alas too late he recovers and is about to kill the Capt. when his girl friend dying near by has one last shot at Gary and drops a huge boulder on him killing him. The Big 3 are like Gary @ the moment. They're weakened but not dead. This is our Capt. Kirk moment. Will Obama take it it? I doubt it. Sorry too say my guess is he'll give them more power and cash with no strings and they'll do a Steve Martin and go NA!!!
I would agree with you on the need to change the model from the pure combustion engine to the electric vehicle and improved hybrids. There are still over 200million cars I think, in the USA alone that are combustion cars. So its going to take time and oil I think will remain fundamental to that whole mess. Eventually it will give, it has to. Even the financial guys would tell me that oil should have been in the $70 ish area per barrel when it was up to $150. So I think there is going to be more stability there for at least a while knowing that the economy is so screwed up.
Obama seems to be a bit of mediator type. He wants to create harmony. Truth is his enemies could care less. I think he should go where he wants to go while he has a congress, senate, and American people giving him approval.
I agree he wants a consensus and doesn't seem to understand that his enemies are already as I write this planning his demise and defeat by any means necessary. These are a bunch of brutal fight too the death types with no compromise in them. Palin is one of them , maybe she best demonstrates what they are and they're lust for power. Willfully ignorant and evil they won't rest till they have power back. Obama should spend more time trying to please the people who are counting on him for REAL change and stop trying to win over these animals.
Post a Comment