Good morning. It is 35 degrees and sunny here in Upstate NY. Many people are extending the holiday weekend. The weather logos show sun throughout the next few days so right now Easter Sunday is looking bright.
We've read news that charts courses all over the map regarding the 2012 economic picture.
We know that the Eurozone financial crisis remains and will continue to be a drain on the world economic picture. We know that there is a modest slowdown in China's manufacturing which is regarded as a thorn in the world economy. And we know that the USA is showing some sparks of recovery along with sectors that are lagging and poor, particularly housing and the overall job market. The job market in the USA is improving but it has been pointed out that the new jobs are not high value jobs. I guess something is better than nothing.
I think the Presidential race will dominate the news and relegate all else to a distant second place. Regardless of how you feel about Obama's adequacy or inadequacy, the election is Obama's to lose. Romney is not a popular candidate even within his own party. It will be interesting to see what his handlers will do to make him appear appealing to the general electorate. How will they repackage Romney in the image of a strong President, this is the question.
Regardless, Wall Street will begin parsing first quarter results. Once again the tale of the tape will captivate investors along with the usual miscellaneous detractors and exciters such as Fed news, housing reports, manufacturing reports etc, all things that will add or subtract to the market's direction.
CNN: Europe's still a thorn, but 'out of crisis mode'
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