From the monthly archives:
Both the Bank of England and the ECB have rate decisions – analysts expect a 50 basis point cut from each.
Tuesday, December 2nd, the auto companies have a deadline to deliver viability plans for Congress to consider government assistance. Coincidentally that same day — sales for November will be released. Analyst’s expectations are [...]
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November comes to a close today and the rally this month in Treasury’s has been amazing —- the largest in almost 3 decades. The benchmark ten year treasury yield is 2.97% —this is a 50 year low. The implied volatility in the 30 year bond futures options is over 30%. This [...]
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GM is up 10% this morning after Bloomberg reported the company is studying whether to shed its Saturn, Saab and Pontiac brands in addition to Hummer.
December 2nd, GM is to report to Congress a viability plan to attempt to convince the government to assist the industry yet again.
For a slow volume day in the market, [...]
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The market is on pace to extend its winning streak to four days.
Some of the percentage moves we have had since Friday’s lows are staggering! Almost twenty percent for the S&P 500 Index (SPX).
Happy Thanksgiving to the following companies:
Goldman Sachs (GS), moved from 47.41 to 76.7 from Friday to today
Citigroup (C), moved from [...]
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Retailers will be interesting to watch this week and next as Black Friday is around the corner.
Normally, the Friday following Thanksgiving is the biggest shopping day of the year and retailers turn profitable for the year (hence the “Black”). This year, we could see if the moniker “Black Plague” is more appropriate. [...]
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As George noted earlier today, durable goods orders fell short of expectations today, while the initial jobless claims number was slightly better than expected. We also saw a personal consumption number in line with expectations, posting a 1% decline.
The plunge in durable-goods orders likely indicates that manufacturing is retreating, given the negative [...]
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The market enjoys its first three-day win streak since August…
…and then there was more economic news this morning. Guess what, it was not good. Durable Goods Orders fell a whopping 6.2% compared to expectations for a 3% drop. Futures are now down about 2% pre-market. On the mildly [...]
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TARP: Troubled Asset Relief Program
$700 billion that was supposed to buy troubled (toxic) assets on the balance sheets of financial companies. The first half was spent on direct capital injections into multiple firms.
TLGP: Temporary Liquidity Guarantee Program
Up to $350 billion of government guarantee on financial company new debt issues.
TALF: Term Asset-backed [...]
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Yesterday’s market movement effectively completed the biggest two-day rally in the S&P 500 Index (SPX) since 1987. Heading into this morning, it seems as though the market could be due for a breather, so this morning’s strength was somewhat unexpected.
The market has sold off, however, since President-Elect Obama’s press conference. He [...]
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Gold is in the middle of a massive rally as more government programs have weakened the dollar against commodity currencies, such as oil and metals.
The last price is $824.50 for the December contract on COMEX.
Gold’s recent strength possibly points to a lessening of the worries about deflation in the markets.
–Steve Claussen
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