What is so completely striking to all of us, and let's just state the obvious here, is that companies are posting amazing second quarter results and yet the economy is in the poor house, jobs are not back, these companies are not hiring anybody. So what gives. Are the remaining employees in these companies working like they are on speed all day long. Possibly yes, would you agree? The remaining jobs are now in Asia somewhere. I like talking to some dude in Malaysia about my bank account. I try to make friends with the guy, hey you never know when you might need a place to stay in Malaysia.
Regardless, Exxon Mobil reports second quarter results today. I will go out on a limb here and take a wild guess that the company made enough money to fill the Grand Canyon and then some.
CNN: Stocks set for early gains
"[Companies] are touting these positive outlooks, but there's still a lot of cash in their coffers, and they're not willing to expand and hire...It's hard to believe what they're saying when they aren't backing it up with cash."
The Department of Labor releases weekly jobless claims figures before the opening bell.
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