“The logic for this move still escapes me, but what’s logic got to do with it? Nothing.” – Larry McMillan (subscription required), Principal, McMillan Analysis Corp. I am convinced that the big move up we’ve seen in the stock market averages…
“This is a private sector effort, involving no government money; so some may ask ‘Why are these government officials here today?’ We are here because we all know that it is in everyone’s interest – homeowner, servicer, investor – to…
“We are taking a more cautious view on the consumer finance stocks as the serial negative economic news suggests that the risk of a consumer recession is all but certain, in our view.” – Merrill Lynch analysts, in a report…
The Bureau of Labor Statistics said that non-farm payrolls grew by 94,000 in November, slightly above the 85,000 economists had forecasted but possibly a bit below what investors were really looking for given the strong ADP number on Wednesday. Going…
Stock investors seem to like Bush’s plan to freeze the teaser rates on adjustable rate mortgages for a few years to give homeowners a better chance to hang onto their houses (S&P Intraday Chart).
Retailers reported November same stores sales this morning and the numbers again appear mediocre. Same store sales increased 4% but because of a calendar shift, this year’s November included the week after Thanksgiving whereas last week’s “November” did not (subscription required). …
“The Standard & Poors is now challenging 1490 once again, and if it can move significantly through that level it will have proved itself worthy of another run at its old highs.” – Michael Kahn, “The Bulls Have The Ball…
This is really funny and well done: “Here Comes Another Bubble” (YouTube Video)(via The Big Picture). Catchy line: “It’s a monster rally….. All across the valley.” Also good: “Blog blog blog it all…. Blog it if it’s big or small…..Blog…
Comcast (CMCSA) announced yesterday after the close that 2007 results would come in slightly below previous guidance (Press Release) and shares are getting crushed today. Three analysts downgraded their rating on the stock from “Buy” to “Hold” this morning. Shares…
This morning ADP, which releases a jobs report ahead of the Labor Department’s number every month, said jobs surged 189,000 in November. Even employment in construction and finanacial activities related to housing and mortgage lending held up well, according to the report (ADP…