Friends As we mentioned the other day, the Fed produced a statement and then a Bernanke press conference today in which the policy of asset purchases is indeed alive and well. As we expected, the Fed Chairman announced that once operation twist is done at the end of this...
Friends The markets seemed to be signaling most of the day that traders believed that there might be some kind of deal in the making with regards to the fiscal cliff. Stocks as measured by the Dow were up more than 100 points for most of the early afternoon....
Friends Traders continue to hold out hope that the behind the scenes talks are going much smoother than the sound bites that are heard daily on the fiscal cliff issue. Perhaps the President and the Speaker are making progress out of the glare of the camera lights. We can...
Friends Let’s start with the economic numbers that we got this morning. The non-farm payroll number baffled analysts, as what was supposed to be a “suppressed by Sandy” weak number came in much better than expected with 146,000 new jobs created in November. On the other side of the...
Friends Traders seemed content to stay on the sidelines today, as we wait on the all-important non-farm payroll report due out tomorrow morning. Consensus estimates are zeroing in on 80,000 new jobs having been created in November (much smaller than last month), and undoubtedly hurricane Sandy will be used...
Friends It was a very quiet day for the markets with little volatility and volume. Stocks vacillated back and forth between positive and negative territory seemingly without any real catalyst for the day. Traders of course are focused on the fiscal cliff, but they also will be paying close...
Friends In economic news we got a somewhat mixed message this morning as the PMI Manufacturing Index came in better than expected, while the ISM Manufacturing Index was just shy of awful. The result was a minor rally on the first number and a giveback on the second. By...
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