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  • Market recap: Stocks faded late to close mixed, but the Dow still snapped its six-day losing streak amid hopes Greek leaders could form a coalition government. Utility and telecom stocks led gainers, while techs lost ground on Cisco's downbeat outlook. Treasurys pared losses after a solid bond auction. NYSE advancing issues led decliners nearly three to two.  [View news story]
    May 10 05:01 PM | 1 Like Like |Link to Comment
  • Initial Jobless Claims: 386K vs. 365K consensus (prior week revised to 388K from 380K). Continuing claims +26K to 3.27M.  [View news story]

    Nuff said.
    Apr 19 08:50 AM | 1 Like Like |Link to Comment
  • Market recap: Stocks capped their worst week of the year on disappointing GDP growth from China and increased concern about Spain. Financials were hit especially hard, with BAC -5.3%, MS -5.2%; JPM -3.6%, WFC -3.5% despite solid "but not thesis changing" earnings. Crude oil prices eased; 10-year Treasury yields fell below 2%. NYSE losers topped winners four to one.  [View news story]
    First off 8% GDP growth sounds good. But growth for the sake of growth is not good. Quality of GDP matters too and China's quality of GDP is subpar. It's not the number itself that matters though, it's more about the number relative to expectations. Unfortunately your read on the market is incorrect. The market did not take into account the lower expectation. Remember the whisper of a rumor yesterday about 9%+ GDP growth in China and the market rallied strong? It's called Hopium (and manipulation) and there's plenty of it.

    About JPM: Earnings beat by $0.14/share. However, reduction in loan loss reserves, which is the traditional way for banks to pump up the bottom line, accounted for $1.8 billion of earnings or $0.28/share. The market doesn't like to see this because it is a transitory earnings component. The same is true for when earnings are lower due to increasing loan loss provisions. Also, NIM is lowest in over 3 years at 2.61%. And with Bernanke holding tight on interest rates, the yield curve probably won't be getting any steeper anytime soon.
    Apr 13 10:02 PM | 1 Like Like |Link to Comment
  • More on the Nonfarm Payroll report: The labor force participation rate rose to 63.9% (63.7% previous). The employment/population ratio rose to 58.6% (58.5%). Big gains in professional and business services (82K) and temporary help (45K). Construction and government employment were flat. December employment revised higher to 223K (203K).  [View news story]
    @WMARKW: I'm on your side. I seem to have used a ridiculous phrase when I said Obama's economic policies. Ooops.
    Mar 27 03:40 PM | 1 Like Like |Link to Comment
  • FRBNY President Bill Dudley doesn't expect any further efforts by the Fed to assist the EU debt situation, but "we will continue to monitor the situation closely." The Fed already has a big matzo ball out there in the form of a massive dollar swap program, but officials are confident these loans will be paid back in full.  [View news story]
    The U.S. is getting into bed with everybody, no matter how many diseases our partners have! Thanks for "monitoring the situation closely", as if Dudley and the Fed can solve any and every problem. I can sleep easy tonight.
    Mar 27 12:56 PM | 1 Like Like |Link to Comment
  • "There has been no change in (the) Obama administration stance on use of emergency oil reserves," Reuters reports another unnamed official as saying. Oil reverses a chunk, but not nearly all, of its earlier slide on a rumor of an SPR release. WTI crude flat at $107/barrel.  [View news story]
    Incomprehensible... and these people make big boy decisions? (flip-flop-flip-flop)
    Mar 27 12:45 PM | 1 Like Like |Link to Comment
  • Cars aren't cool for a growing number of urban young people, and GM is turning to MTV (VIA.B) to fight back. NY Times reports that GM has hired MTV consultants to help them connect with a new crop of consumers, and is changing corporate strategy to better understand youth culture and how a car can fit more seamlessly into their lifestyles.  [View news story]
    MTV consultants? lol. I didn't even realize MTV was still televised! GM: "We can't understand why young urban people won't buy one of our Government Motors cars. I mean the steering wheel only comes off on the Cruze only once in a while!"
    Mar 23 12:29 PM | 1 Like Like |Link to Comment
  • The U.S. and U.K. have agreed to release emergency oil stocks, reports Reuters. Brent Crude (BNO) -2%, WTI Crude (USO) -1.1%.  [View news story]
    Ooops, we were just kidding! What a joke. It's called market manipulation; Obama and Bernanke are good at that. And people want 4 more years of this?

    Wait, I'm getting a feed: "This just in, U.S. Government announces it has applied with the Federal Reserve to become a bank holding company. Debt repayment is optional."
    Mar 15 12:35 PM | 1 Like Like |Link to Comment
  • Feb. Nonfarm Payrolls: +227K vs. consensus of +215K, +284K (revised from 243K) in Jan. Unemployment 8.3% vs 8.3% expected. Average workweek unchanged at 34.5 hours, inline. Average hourly earnings +0.1%.  [View news story]
    There are so many adjustments in these reports it's rather difficult to get a true understanding of actual job creation. But I'm sure you just take at face value whatever the government force feeds you.
    Mar 9 01:54 PM | 1 Like Like |Link to Comment
  • Feb. Nonfarm Payrolls: +227K vs. consensus of +215K, +284K (revised from 243K) in Jan. Unemployment 8.3% vs 8.3% expected. Average workweek unchanged at 34.5 hours, inline. Average hourly earnings +0.1%.  [View news story]
    I bet all those people Obama is supposedly fighting for (cough b*llsh*t cough) were fully invested during March 2009. Wake up Terry: Bernanke, Obama and clan are only helping the rich get richer (all the banksters!) and putting all the less fortunate U.S. citizens on food stamps permanently. Lets not forget shifting the ever-growing burden of debt repayment to future generations. Totally bullish. Unfortunately secular economic growth is not built on this deplorable strategy.
    Mar 9 01:38 PM | 1 Like Like |Link to Comment
  • Feb. Nonfarm Payrolls: +227K vs. consensus of +215K, +284K (revised from 243K) in Jan. Unemployment 8.3% vs 8.3% expected. Average workweek unchanged at 34.5 hours, inline. Average hourly earnings +0.1%.  [View news story]
    Talk about gaming the numbers
    Mar 9 09:41 AM | 1 Like Like |Link to Comment
  • "I wouldn't take QE3 off the table ever," says the Fed's James Bullard, speaking on CNBC. On the other hand, he's optimistic about the economy, seeing 3% growth possible in 2012 with unemployment falling to 7.8% by year's end.  [View news story]
    <p>It's quite obvious the issue is not an interest rate/monetary issue; we've had ZIRP for 3 1/2 years and we're not even growing above 3% GDP per year. Mortgage rates are at historic lows and the housing market is still abysmal! This comment from Jim is making Joe Kernan smile like the Grinch (as we all know Kernan is fully invested).</p>
    Feb 24 09:21 AM | 1 Like Like |Link to Comment
  • President Obama signs the payroll tax bill into law, which will extend payroll-tax cuts through the end of 2012, prolong extended unemployment benefits, and prevent a cut in pay for doctors who treat Medicare patients. The House and Senate passed the bill last week.  [View news story]
    You're talking about the same "leader" who could care less about a balanced budget and reducing our government debt? The same "leader" who is supposedly fighting for the less fortunate, but at the same time causing inflation in everyday purchases thereby severely diminishing the real income/wealth of the less fortunate? The same "leader" who rewards laziness through 151 weeks of unemployment benefits? The same "leader" who is turning America into a Socialist society? The same "leader" who refuses to work with his own party at certain points to pass his own agenda? Just checking. And last time I checked we're in a slow growth phase, so why the continued debt run-up at both the fiscal and monetary level?
    Feb 23 02:26 AM | 1 Like Like |Link to Comment
  • Treasury scrambled to convince S&P away from downgrading the U.S. in the days and hours leading up to the Aug. 5 move, according to newly obtained emails. As it became evident S&P was going to move ahead, Treasury desperately floated a story the ratings agency had muffed a simple calculation, but it was to no avail.  [View news story]
    And it only took 7 months for this info to be leaked... haha. Clearly someone didn't want the public to know!
    Feb 22 12:40 PM | 1 Like Like |Link to Comment
  • Apple: Let's Not Get Ahead Of Ourselves [View article]
    Bill: very well said. I think people need to understand that the growth rates of Tesla, LinkedIn, etc. are and can be much higher than Apple's growth rate given the size of the companies.
    Jun 11 11:13 AM | Likes Like |Link to Comment