At 7:15 a.m. futures are modestly down, the dollar is mostly up against major world currencies, and the price of oil is down per barrel. The market is poised to open lower.
Simple answer here - we are into a correction and that correction appears to be centered around the President's call for eliminating the Bush tax cuts. Grow up elite rich people, pay your fair share of taxes, and cut out the crap. You've got so much money, you can't even possibly spend it all.
CNN: Stocks to open lower
The president has vowed not to keep the Bush tax cuts in place for Americans earning more than $200,000, and investors are also bracing for tax hikes on capital gains and carried interest.
Economic reports on tap Friday morning include data on foreign purchases of Treasuries and industrial production.
2 comments:
So what do u do with a neighbor that insists you leave the keys to your house ( because he owns it) and if you don't he's going to fire rockets at your house day and night?
Clearly there is an utter and complete failure of communication and understanding here at all levels in all directions. I think this is what the world sees. There has go to be somebody in the world that can sit between these two and make everybody mostly happy. Obviously that person has not shown up yet. I'm completely sick of it, completely. The younger people are not so sick of it because they haven't seen it go on for decade after decade after decade like you and me. The irony is that I know that Israel is no longer just Jewish people, the Palestinians are blending in more and more year after year. Eventually we are going to have people that look the same and sound the same fighting each other, it's nuts.
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