Market Soapbox 04/02/07
MON, DJIA +28 on tepid volume with midlin internals. XAU, XOI & DJUA UP BIG, All UP cept SOXX.
Bonds flat 10 yr yield 4.65, $ down vs 1.3366E & vs 117.857Y, WTI crude up $65.94, gold up $671.5
Fed Official William Poole's prepared notes: the U.S. economy is on sound footing and inflation is retreating as energy prices stabilize.
Billy said he would not push for a rate cut amid a marginally weak economy, SAY WHAT?
I thought the economy was on "sound footing". Perhaps thats "sound byte footing"....
Too bad for Billy, oil prices jumped 6% last week and the economy is showing signs of going into the tank... no pun intended.
Billy also thinks that the fallout from the subprime sector problems are likely to be limited... on that note..
New Century filed Chapter 11 Bankruptcy, M&T Bank announced losses & downward forward guidance due to ALT-A loans. Finance & Banking got slapped... Bad news??
Semiconductor production overcapacity & inventory glut worsens due to slowing consumer spending... Best Buy & Circuit City report Wen. expect poor sales results to slap Tech & Semis.
Corn got crushed again -5%, thats 13% since Thurs... Tomorrow auto sales and Passover begins, shalom and always such good nachas!
Bonds flat 10 yr yield 4.65, $ down vs 1.3366E & vs 117.857Y, WTI crude up $65.94, gold up $671.5
Fed Official William Poole's prepared notes: the U.S. economy is on sound footing and inflation is retreating as energy prices stabilize.
Billy said he would not push for a rate cut amid a marginally weak economy, SAY WHAT?
I thought the economy was on "sound footing". Perhaps thats "sound byte footing"....
Too bad for Billy, oil prices jumped 6% last week and the economy is showing signs of going into the tank... no pun intended.
Billy also thinks that the fallout from the subprime sector problems are likely to be limited... on that note..
New Century filed Chapter 11 Bankruptcy, M&T Bank announced losses & downward forward guidance due to ALT-A loans. Finance & Banking got slapped... Bad news??
Semiconductor production overcapacity & inventory glut worsens due to slowing consumer spending... Best Buy & Circuit City report Wen. expect poor sales results to slap Tech & Semis.
Corn got crushed again -5%, thats 13% since Thurs... Tomorrow auto sales and Passover begins, shalom and always such good nachas!
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