This will greatly set the tone for I would suspect the next month. As you know, consumer spending is essential to America's economic prospects, and America is the world's economic engine, at least for the time being.
It is hard to imagine that the DOW will regain some more of the 60% of value that it has lost since roughly May of '08. The tendency would be to think that last week's five days of gains will not continue.
Reuters: Stocks face dour jobs and retail data
"The most important thing for the economy going forward will be jobs," said Gail Dudack, chief investment strategist of Dudack Research Group in New York.
Data showing store traffic and sales for the Black Friday weekend will be released by Sunday, which could set the tone for the beginning of the week.
1 comment:
The worse is yet to come for mainstreet. The way these collapses work is the pain very rapidly finds it's way too the bottom. Trickle down works when things go wrong but doesn't work in the opposite direction. What we are seeing with the so called bail-out is just how rigged the whole friggin game is anymore. Even the Soviet Union eventually collapsed. Nobody is too big to fail. Allowing this rigged game to stand will only make it far worse in the future.
Post a Comment