The Market On Wednesday

Good morning and welcome to Thanksgiving Eve. Are you ready for one solid month of Christmas carols and sales on TV sets? Here's an idea - a store that sells jobs as a Christmas gift. The gift purchaser goes to the store and plunks down say $500. In return the gift receiver gets to work at some miserable job temporarily and then earns $400. The missing $100 is the store profit. Think about it, someone could create entire complexes that are "gift job centers" funded by relatives and friends who want to give the gift of work. You go there and could even be a pretend supervisor or a secretary yet get paid thanks to your loved one's generosity. Come to think of it, this is very similar to a state job...

At 8:30 a.m. est futures are significantly down, the dollar is up, and oil is down. That gasping sound you hear is the stock market getting ready to give up the ghost at today's opening bell.

Apparently people all over the world have enough crap manufactured in China to temporarily hold them off for a while. Consequently manufacturing in China is way down and investors are in a tizzy about this tragic turn of events. After all if China's economy fails, what's left?

Add to that the miserable unraveling financial crisis in Europe and we have an equity depleted Thanksgiving on tap.

CNN: Stocks look to follow world markets lower

Ongoing rises in bond yields in Italy and Spain have continued to shake investor confidence.


...a slump in manufacturing in China...