Market Soapbox 12/10/08
WEN, more wavy gravy, DJIA +70 on average volume with nice internals. All UP.
Bonds down 10 yr +2bps 2.68, $ down vs E1.3018 & up vs 92.825y, WTI +3% $43.99, gold +5% $810.6, TED spread -5bps 2.1%.; 3 mo Libor -6bps 2.09%
SP500 892, rise 908, dip 885, close 899. NDX 1212, gap up 1223, rise 1236, dip 1203, close 1222.
FRI: Unemployment 6.7%; highest since 92; -533K jobs in Nov. the largest decline since 74. let this Santa Chumps rally play out.
MON: Demos sent a $15 billion auto rescue plan to the White House. LA Times owner Tribune Co. filed BK and forced to sell the Cubs.
TUE: 6 semi companies gave downside earnings or revenue guidance. Black Friday consumer technology sales declined for the first time ever -8.4%.
Today, its in the game, EA said its fiscal year 2009 earnings and revenue will come short. Kodak withdrew its fiscal year 2008 guidance.
Rio Tinto cuts 5.5K or 12% of its workforce and 8.5K contract workers. Office Depot to close 112 underperforming retail stores or 9% of its store base.
No kidding? GMAC said if it is unable to successfully convert to a bank holding company it would have a material adverse effect on GMAC's business.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down 10 yr +2bps 2.68, $ down vs E1.3018 & up vs 92.825y, WTI +3% $43.99, gold +5% $810.6, TED spread -5bps 2.1%.; 3 mo Libor -6bps 2.09%
SP500 892, rise 908, dip 885, close 899. NDX 1212, gap up 1223, rise 1236, dip 1203, close 1222.
FRI: Unemployment 6.7%; highest since 92; -533K jobs in Nov. the largest decline since 74. let this Santa Chumps rally play out.
MON: Demos sent a $15 billion auto rescue plan to the White House. LA Times owner Tribune Co. filed BK and forced to sell the Cubs.
TUE: 6 semi companies gave downside earnings or revenue guidance. Black Friday consumer technology sales declined for the first time ever -8.4%.
Today, its in the game, EA said its fiscal year 2009 earnings and revenue will come short. Kodak withdrew its fiscal year 2008 guidance.
Rio Tinto cuts 5.5K or 12% of its workforce and 8.5K contract workers. Office Depot to close 112 underperforming retail stores or 9% of its store base.
No kidding? GMAC said if it is unable to successfully convert to a bank holding company it would have a material adverse effect on GMAC's business.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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