Yesterday a mixed futures market led to a significant gain in the DOW and S&P. Hopefully it will happen again today as Obama seems to realize that his statements about the economy have significant impact on the emotional well being of the investor class. How long can the message of hope keep the market from trolling into the 7000s or even 6000s given the bleak assessments we are continually hearing.
Speaking of bleakness, the article includes the information that INTEL will be laying off possibly up to 6,000 workers.
Reuters: Stock futures mixed ahead of Microsoft results
At 10 a.m. EST the Federal Housing Finance Agency issues House Price Index for November. In the previous month, the home price index fell 1.1 percent.
3 comments:
Until we stop hearing numbers like INTELS the rest is just noise meant to distract us. I'm starting to do some reading about what actually happened during the Great Depression era 29-41. So far,I find out here almost two diametrically opposite views. If Obama aims to be more like FDR then we can believe were in for a very rough ride, indeed. Not because he's going to do or say anything to intentionally hurt us but because the harm is already done. FDR didn't cause the Depression the question is did he cure it? Conservatives say no, he made it worse and Liberals say yes, it would have been far worse without him? Who to believe? To some extant we'll never know because he did what he did so how can u prove that hadn't he done it things would have gotten worse? We can however look at what other world leaders did at that time and try to measure the results accordingly. In any event Obama isn't facing the same issues exact issues as FDR and this isn't 1932.
Did you see where IBM is laying off a bunch in NY as they post profits.
I'm just hoping by next Christmas the S&P can find its way to 950, is that too much to ask.
So many out of work this yr. and probably next. Scary times. The Gov't safety net in shreds after 8 yrs. of Corp. Fascism.
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