By Akin Oyedele
6 minutes ago 133
Consumers are feeling great about the US economy.
The latest reading of the consumer confidence index came in at 101.4, crushing forecasts.
Economists had expected an index print from the Conference Board of 97.4 for June, up from 95.4 last month.
In a preview of this week's economic data, BNP Paribas wrote: "The pace of payrolls growth continues to impress. While equities and gasoline prices have been relatively flat, the employment boost is expected to continue to buoy confidence in June."
Won't touch it above $27 now. When the insiders and institutions are selling, you won't find me standing in their way.
Data released today still show that home prices nationally and in vast majority of cities are still well below the 2007 peak when bubble was formed on those liar loans, negative amortizations and cash back mortgages.
For individual cities, take San Francisco includes neighboring Alameda CA, Contra Costa CA, Marin CA, San Francisco CA, San Mateo CA), May 2006 index was 218.37 and Apr 2015 was 210.18 ... but from what I read in local papers and numerous first hand stories, San Fran's home prices have gone through the roof and long surpassed the old record. Average resale homes in San Mateo County exceeded median price was $1.25 Million and Silicone Valley was above $915K in Apr per Bay Area News Group. Those number are at least 10% to 20% higher than what I recalled as the peaks during the bubble.
I don't have the San Fran county data but nothing but horror stories like $700K for a flea size cubical ...
Wonder why the discrepancy ... only thing I can find is CS excluded some sales like condos that Bay Area is full of. May be they exclude town houses as well.
But who the heck is this guy:
Hewlett-Packard: Chris Hsu Will Continue to Lead Enterprise Separation Efforts
DOW JONES & COMPANY, INC. 6:05 AM ET 6/30/2015
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)
Copyright (c) 2015 Dow Jones & Company, Inc.
The pink slips are not done flying at Hewlett-Packard.
CNNMoney (New York) June 4, 2015: 4:16 PM ET
Since being hired to run HP (HPQ, Tech30) in 2011, Meg Whitman has overseen a dramatic downsizing that has cut about 55,000 jobs. The painful moves have been central to Whitman's efforts to turn around a once-iconic company.
But Whitman is now warning more layoffs are likely in the near future, given turbulence in the global economy.
"I think we are through the vast majority but I suspect there will be more fine-tuning over the next couple of years," Whitman told CNN's Poppy Harlow in an interview at HP Discover this week in Las Vegas.
Asked how many cuts are ahead -- Whitman declined to specify, but noted it will depend on how the economy fares between now and November 1. That's when the 76-year-old company is splitting itself into two publicly-traded entities.
What a shame:
NBC (CMCSA -1.3%) is ending its business relationship with presidential candidate Donald Trump over "recent derogatory statements" about immigrants, it said in a statement.
The move means that the annual Miss USA and Miss Universe pageants (a JV between NBC and Trump) won't air on the network.
Trump also won't participate in The Apprentice reality competition show.
Univision had previously indicated that it wouldn't be broadcasting the pageants in the wake of Trump's remarks.
was criminal in many many ways (Can't paint those sinful ways to avoid yahoo sanctions). Here is more thoughts from a local paper reader:
'Traditional' marriage has an ugly history
Before the calls for Southern secession start coming in, let's pause for a moment to consider traditional marriage. Chief Justice John Roberts may be a competent jurist, but he's a lousy historian.
He wrote in his opinion that "since the dawn of human civilization," marriage was between one man and one woman. This is why we don't use the Bible as a history book. If we traveled 7,000 years back in time to ancient Mesopotamia, what kinds of "traditional" marriage would we find? How does an arranged marriage between one man and one or more newly pubescent girls sound to you? Comfortable with polygamy, which was also common in the ancient world? And what about the blushing brides? Commonly considered chattel, like livestock or other property.
An enthusiastic congratulations to the millions of Americans who are no longer second-class citizens.
Ellson is passe' as well. He missed the boat on the cloud and SalesForce is eating his lunch on ERPs. Meanwhile, as the googles and facebooks grew all around him, he bought sun micro and gave away its Java.
Meg but still maintain a buy rating? What a dunce. SEC should make sure he put his own money in this stock until his target hits:
NEW YORK (TheStreet) -- Hewlett-Packard (HPQ - Get Report) had its price target lowered by analysts at Jefferies to $40.50 from $42 with a "buy" rating.
and struggling to defend $30.
She touted that HP is on her 5-year recovery plan ?
New York Times - 14 minutes ago
BRUSSELS - Eurozone finance ministers on Saturday rejected Greece's request to extend its debt negotiations beyond Tuesday's deadline, seeming to bring a bitter end to months of discussions of how or whether to continue providing bailout loans to .
New York Times - 1 hour ago
HONG KONG - Acting a day after the Shanghai and Shenzhen stock markets plunged more than 7 percent, China's central bank cut interest rates on Saturday and reduced the reserves that certain banks must hold.
as major market indices remain near record all time highs.
Wonder how the breakup is enhancing those executive jobs --- instead of one set of CEO, Directors, EVPs ... now they have two sets. Meanwhile, give themselves bonus for retention and success in spin off. What a way to increase share holder values, serve your customers, enrich your employees etc.
Ain't it great to have cronies and lap dogs in charge of their corporate treasury?
June 26, 2015 — 7:00 AM PDT
Updated on June 26, 2015 — 7:25 AM PDT
Consumer confidence climbed in June to a five-month high as an improving job market boosted Americans’ attitudes about the world’s largest economy.
The University of Michigan said Friday that its final index of sentiment increased to 96.1 during the month, exceeding all estimates in a Bloomberg survey, from 90.7 in May. The median projection of economists polled called for the measure to hold at its preliminary June reading of 94.6.
A stronger job market, near-record stock prices and stabilizing fuel costs are making households more upbeat about their financial situations. Sustained hiring that’s accompanied by faster wage growth would provide an additional boost to consumer spending after a report Thursday showed the biggest gain in purchases since mid-2009.
“Consumers are feeling confident about their job and income prospects,” said David Berson, chief economist at Nationwide Insurance in Columbus, Ohio, who predicted the sentiment index would rise to 95.5. “Consumer spending is going to look pretty good in the second quarter.”
The insiders always get their money's worth. Kathy did real well selling big chunks near $40.
knew what they were doing selling "CHEAP":
Jun 4, 2015 VEGHTE WILLIAM LOfficer 17,255 Direct Sale at $33.49 per share. 577,869
Jun 3, 2015 KEOGH TRACY SOfficer 209,530 Direct Sale at $34.07 per share. 7,138,687
Jun 2, 2015 KEOGH TRACY SOfficer 3,992 Direct Sale at $34 per share. 135,728
Jun 2, 2015 LANE RAYMOND J.Director 126,300 Direct Sale at $34.16 per share. 4,314,408
May 29, 2015 BANERJI SHUMEETDirector 7,113 Direct Sale at $33.48 per share. 238,143
May 28, 2015 BANERJI SHUMEETDirector 7,113 Direct Sale at $33.67 per share. 239,494
May 28, 2015 RICCI JEFF TOfficer 2,600 Direct Automatic Sale at $33.67 per share. 87,541
May 26, 2015 SCHULTZ JOHN FOfficer 2,672 Direct Automatic Sale at $34.44 per share. 92,023
May 26, 2015 YOUNGJOHNS ROBERTOfficer 117,185 Direct Sale at $33.35 per share. 3,908,119
Yes, except children and senile old people. Also, make it a national holiday with paid time off with a stub etc.
Leading Indicators show a positive sign
May Leading Indicators: Leading Index +0.7% to 123.1 vs. +0.4% expected, +0.7% in April.
Coincident Index +0.1% to 112.1 vs. +0.2% prior.
Lagging Index +0.2% to 117.0 vs. +0.1% prior.
June Philly Fed Business Outlook indicator jumps to 15.2
June Philly Fed Business Outlook: 15.2 vs. 8.0 expected, +6.7 prior.