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by Larry Levin There sure are a lot of people out there that simply can't handle the truth that is all around them. Some people seem to just hate any and all bad economic news. “Can't you ignore the bad news and just report the good stuff” they ask? In fact, a few relatives have asked me that very question, which was met with a hearty laugh. Others believe that the world revolves around what the idiots at MSNBC or Rush Limbaugh have to say. These extremely partisan robots therefore perceive anything out of that narrative with vitriolic hatred. I know because I get emails from readers of this daily missive that occasionally complain – and they make me laugh every time. I have been called BOTH a right-wing conservative and a left-wing liberal in the same week! Left? Right? I don't care. Both sides are useful tools of the corporate behemoths and bankster cartels, but useless to the average Joe. The average Joe is just cannon fodder to the Bush's and the (OMG are you serious) Nobel Peace Prize winning Obama. Call me a cynic or a nihilist if you need a label, I just don't care. While we wait for great GDP data that is rising because of genuine business growth, and not because of the new calculations to GDP data such as the activities of drug dealing murderers and how many tricks the county's whores have racked up, I will surely let you know. Surprised that GDP data now counts this information? Well...maybe...uhh, how do I put this...uhh...maybe The One who makes women faint when he reads a teleprompter needed more ammo to boost his bad record. Oops, that's a gun reference, better not offend anyone who dislikes those scary things... So for all of you who dislike bad economic reality and are so intolerant of a different opinion of the clown-posse in Congress or the White House, I have a great video that will make it all go away: your Nirvana! http://www.youtube.com/watch?v=7bbgf_eoOEA PS – I believe I … [Read More...]
The reported case of Ebola in New York is causing worries to flare-up, offsetting some upbeat earnings reports, and stocks are modestly lower in early action. Dow member Microsoft, UPS and Bristol-Myers Squibb all exceeded the Street's quarterly expectations, while Dow component Procter & Gamble matched estimates, Ford missed revenue projections, and Amazon.com posted a wider-than-expected loss. Treasuries are trading higher, ahead of a read on U.S. new home sales due out after the opening bell. Elsewhere, gold is nearly unchanged, while the U.S. dollar and crude oil prices are trading lower. Overseas, Asian stocks finished mixed on the strong gains in the U.S. yesterday, while a disappointing Chinese home price report and the resurfaced Ebola fears weighed on sentiment. Finally, European stocks are mostly lower on the aforementioned worries and following some disappointing corporate earnings reports in the region. As of 8:55 a.m. ET, the December S&P 500 Index future is 1 point below fair value, the DJIA is 4 points south of fair value, and the Nasdaq 100 Index future is 6 points below fair value. WTI crude oil is decreasing $0.99 to $81.10 per barrel, Brent crude oil is down $0.94 to $85.89 per barrel, and the gold spot price is trading $0.07 higher at $1,231.91 per ounce. Elsewhere, the Dollar Index—a comparison of the US dollar to six major world currencies—is down 0.1% at 85.77. Dow member Microsoft Corp. (MSFT $45) reported fiscal 1Q earnings-per-share (EPS) of $0.65, excluding $0.11 per share in integration and restructuring expenses, compared to the $0.55 consensus estimate of analysts surveyed by FactSet. Revenues rose 25.2% year-over-year (y/y) to $23.2 billion, above the $22.0 billion that the Street had projected. Dow component Procter & Gamble Co. (PG $83) posted fiscal 1Q profits of $1.07 per share, matching the Street's expectations, with revenues flat y/y at $20.8 billion, roughly inline with analysts' … [Read More...]
The reported case of Ebola in New York is causing worries to flare-up, offsetting some upbeat earnings … [Read More...]
by Larry Levin A pathetic defense of central-planning, excuse me – central … [Read More...]
After snapping their winning streak yesterday, the domestic equity markets are moving nicely … [Read More...]
The domestic equity markets are trading slightly to the upside in late-morning action, … [Read More...]
The U.S. equity markets are extending yesterday's modest gains, ahead of a read on domestic existing home sales, … [Read More...]