Bad news from China and hohum PMI offset by Euro zone optimism:
Futures add gains after positive data
Euro +0.2% vs. dollar.
Crude +0.4% to $97.32.
Gold -0.02% to $1234.3.
and reply to several posts, all dark...
anyway, year end window dressing and QE-tapering Fed watch.
lang, Breaking Bad season one was in 2008, well before Obamacare's conception. As recounted in the news during that era, you either do something extraordinary to survive as Walter White did or file bankruptcy.
billy, black, gender or white we don't care. Bin Laden was keeled, economy stablized (Ronald Reagan resided over 7% or more UE except 2 months from Jan-1981 to Oct-1986) and wars are about to end. $10^12 was spent so far on the wars. We can now redirect the money to rebuild and upgrade out infrastructure soon.
billy, If Christie is up against Billary, my vote is on Christie. As I said many times before, we do not need another dynasty in the executive branch. Hillary had done nothing as a Senator or SOS other than self promotion while watching the world fell into more discourse, economically and politically.
fraunch, 3.6 million fellow Americans turn 66 this past year and next. Vast majority will take Social Security and retire at 66. Before the boomers come of age, during Nixon and Ford years, demographics were similar to recent few years. The echo boomers are fewer in numbers outside of immigrants because of fear of global population explosion. Labor participation rates were as today's numbers. That's just how things go: people grows old and quit working.
40% said starting this month, 40% in Jan 14 and 20% by Apr 14 latest.
So, either priced in or the traders think QE-tapering is nothing to fear other than home builders and bonds:
At the close
Dow -0.06% to 15874. S&P -0.31% to 1780. Nasdaq -0.14% to 4023.
Treasurys: 30-year +0.46%. 10-yr +0.29%. 5-yr +0.16%.
Commodities: Crude -0.4% to $97.38. Gold -1.13% to $1230.3.
Currencies: Euro +0.02% vs. dollar. Yen -0.35%. Pound +0.22%.
With the holidays upon us I'd like to share a personal experience about drinking and driving.
As you may know some of us retirees have been known to have brushes with the authorities from time to time on the way home after "social outings" with friends.
Last weekend, I was out for an evening with a bunch of old timers and had several cocktails, followed by some great red wine.
Feeling jolly, I still had the sense to know I was well over the limit. So I did something that I've never done before ... I took a cab home!
Sure enough on the way home there was a police road block, but since it was a cab they waved it past and I arrived home safely without incident.
This was a real relief and surprise because I had never driven a cab before. I don't even know where I got it, and now that it's out in the garage, I don't know what to do with it !
billy, the obstructionist leaders had blinked and abandon ship. Only the mentally challenged wing nuts remain for now. Suspect the Koch Brothers will give them a call soon to cool off on debt ceiling and capitulate as well. The surrendered party is hoping for more disaster to hit Obamacare and focus their energy and money campaigning for Senate control in Nov election. Not a bad strategy in mho.
heilein, Hence the Fed wants to inflate assets yet failed miserably outside of housing which was in a bubble and wall street equities which was also in a bubble. The core issue is lack of demand as consumers were left to trickle down policies around the world. The rich got their assets inflated while the rest got little.
vt, it is not workers can't find jobs ... it is the stagnant wages and benefits. Like I had pointed out, Ronald Reagan resided in above 7% UE for nearly 6 long years. I worked and bought homes during those 6 years. Inflation was high but workers got COLA and merit raises. These days, CEOs said Americans have no right to have living wages. Union workers are overpaid. Benefits are too much. You must be on call 24/7. You are on your own.
Jabil Circuit's losses lead mixed tech action 12/18 06:39 AM
SAN FRANCISCO (MarketWatch) -- Tech stocks were mixed in early trading Wednesday as big losses from Jabil Circuit Inc. (JBL:$15.725,0$-3.995,0-20.26%) took the sector's spotlight. Jabil shares fell 20%, to $15.74, after the electronics contract manufacturer gave a disappointing quarterly report and forecast late Tuesday. Losses also came from Microsoft Corp. (MSFT:$36.22,00$-0.30,00-0.82%) , Apple Inc. (AAPL:$548.14,00$-6.85,00-1.23%) and Hewlett-Packard Co. (HPQ:$27.155,0$-0.295,0-1.07%) . Gainers included Oracle Corp. (ORCL:$34.005,0$0.375,01.12%) , which rose 1% to $33.98 ahead of , due after the close of trading. The Nasdaq Composite Index edged up by 3 points to 4,026.
HP 7" Tablet Intel Atom Processor with 8GB Memory featuring Android 4.1 (Jelly Bean)
1.6GHz Intel Atom Z2460 processor
8GB of storage memory
Google Android 4.1 (Jelly Bean) OS
Webcam, WiFi and Bluetooth
We all know it is coming. But housing continues to be strong ... starts at 1 million rate:
Housing Starts jumps 22.7% to 1.09M
Nov. Housing Starts: +22.7% to 1.09M vs. 952K expected and 889K (revised) in Oct.
Permits 1.00M vs. 995K expected and 1.04M (revised) in Oct
Fed to taper $10B per month
It's here: The Fed announces a $10B per month taper.
Fed funds target unchanged at 0-0.25%.
Treasury purchases cut to $40B per month.
MBS purchases cut to $35B per month.
Beginning in January, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $35 billion per month rather than $40 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $40 billion per month rather than $45 billion per month. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. The Committee's sizable and still-increasing holdings of longer-term securities should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative, which in turn should promote a stronger economic recovery and help to ensure that inflation, over time, is at the rate most consistent with the Committee's dual mandate.
The Committee will closely monitor incoming information on economic and financial developments in coming months and will continue its purchases of Treasury and agency mortgage-backed securities, and employ its other policy tools as appropriate, until the outlook for the labor market has improved substantially in a context of price stability. If incoming information broadly supports the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward its longer-run objective, the Committee will likely reduce the pace of asset purchases in further measured steps at future meetings. However, asset purchases are not on a preset course ...
Two weeks of big jumps after a single week below 300K. Corporate America offshoring jobs again?
Initial Jobless claims at 379K
Initial Jobless Claims: +10K to 379K vs. 337K consensus, 369K prior revised (368K prior week).
Continuing claims +4.25K to 2.79M.
alias, Nepotism and insider trading is more open these days. Everybody is doing it, just like the liar loans before 2009.