The Market On Thursday

Good morning. It is cold and clear here in Upstate NY. I was out walking a few hours earlier and although it was tehnicaly still dark out, it was in fact very bright and beautiful out. The moon was if not full, very close to it, and the moonlight on the snow lit the place up. It was very magical and hopefully not just a one shot deal. I can't recall a more gorgeous Winter morning.

At 8:40 a.m. futures are modestly down, the dollar is mixed, and oil is down.

On Wednesday Goldman Sachs reported less than a stellar fourth quarter report. I know that really makes you feel bad, poor babies. Unfortunately since Goldman is at the center of the economic universe, we all suffer. As Goldman goes, so goes the world. They are beyond too big to fail, they are tag you're it.

Housing and employment are back in investor's sights today. Initial jobless claims are being reported at 404,000 which is an improvement and close to the allegedly desirable 400,000 level which occurs during times of normal employment.

Look at those gaudy numbers from China with its massive 9.8% GDP figures. Whose your daddy - its China.

CNN: http://money.cnn.com/2011/01/20/markets/premarkets/index.htm

"There's some potential for volatility with a lot of economic data coming out today, but overall, sentiment is still very strong."


China's gross domestic product, the broadest measure of economic output, expanded at an annual rate of 9.8% in the fourth quarter of 2010.


Oil for March delivery slipped 90 cents to $90.91 a barrel.