Investors Cheered By Jobs Report
U.S. stocks were set to open higher on Friday after news that the U.S. economy added more jobs than expected in November, easing concerns about slowing growth.
http://www.foxnews.com/story/0,2933,235417,00.html (http://www.foxnews.com/story/0,2933,235417,00.html)
Federal Reserve Chairman Ben Bernanke gave the U.S. economy a clean bill of health without the usually gloomy caveats. Wall Street remained in the midst of a Bush rally that was pushing the Dow to new records almost daily, fattening middle-class 401(k)s and IRA pension funds in the process. The S&P 500 was trading at its highest level in six years.
Meantime, oil was falling into the $57-a-barrel range, signaling cheaper gas prices, and the federal-budget deficit was dropping sharply, without raising taxes as the Democratic presidential candidates are proposing to do if they win back the White House in 2008.
Bernanke's testimony before House and Senate committees must have been especially welcomed at the White House, as it was by the financial markets here and abroad. The economy was growing nicely, and it would continue to expand at a moderate rate this year and next, he said.
Inflation appeared to be within a tolerable range, too, a stronger signal that the Fed has no plans to raise short-term interest rates that sent a huge collective sigh of relief through the markets and the business community.
Contrary to all the worrying and hand-wringing over the budget deficit from Democrats and insecure newspaper pundits with too much time on their hands, Bernanke said he expected deficits to continue their sharp decline this year and next.
http://www.townhall.com/columnists/DonaldLambro/2007/02/19/success_stories_fly_under_the_radar (http://www.townhall.com/columnists/DonaldLambro/2007/02/19/success_stories_fly_under_the_radar)
My stocks ain't doin' sh!t...of course it is President's Day. :biggrin:
Any good stock tips out there?
Prudential Financial (PRU) has been hot for a while now.
And watch PNC closely. The Feds have just approved their takeover of Mercantile Bank and opened the way to another big market share in the DC/Maryland/Virginia region.
I'll keep my eyes on them...thanks.
Quote from: IYT IYT IYT on February 19, 2007, 03:25:56 PM
My stocks ain't doin' sh!t...of course it is President's Day. :biggrin:
Any good stock tips out there?
sell 'halliburton' before the next election.
American Workers Are Finding Jobs And Taking Home More Pay
* Real Wages Rose 1.7 Percent In The Past 12 Months. This means an extra $1,030 in the past 12 months for the typical family of four with two wage earners.
* Real After-Tax Income Per Person Has Risen By 9.8 Percent – More Than $2,800 – Since The President Took Office.
* The Economy Grew A Strong 3.5 Percent In The Fourth Quarter Of 2006. The economy grew 3.4 percent last year, up from 3.1 percent in 2005.
* Since The First Quarter Of 2001, Productivity Had Strong Average Annual Growth Of 3.1 Percent. This is well ahead of the average productivity growth in the 1990s, 1980s, and 1970s.
Job Creation Continues - More Than 7.4 Million Jobs Created Since August 2003
Quote from: awol on February 19, 2007, 08:12:48 PM
sell 'halliburton' before the next election.
If I owned shares of Halliburton, I'd be a hypocrite, and a hypocrite I am not (or try not to be).
Taking Home More Pay
Where do I sign up??? :wink:
http://www.csmonitor.com/2007/0221/p01s03-usec.html (http://www.csmonitor.com/2007/0221/p01s03-usec.html)
US deficit is shrinking
Tax revenues are rising much faster than spending, according to Treasury Department numbers released last week. The recent trend is strong enough that, were it to continue, the budget could move into surplus in barely a year, one economist calculates.
The Aethiest Science Monitor has a different take on the economy for some reason. :biggrin:
The Christian Science Monitor...that in itself makes me laugh. Keeping science in check since 2100 BC
Quote from: IYT IYT IYT on February 21, 2007, 10:40:30 AM
The Aethiest Science Monitor has a different take on the economy for some reason. :biggrin:
The Christian Science Monitor...that in itself makes me laugh. Keeping science in check since 2100 BC
HA HA HA.. ;D
It is as reliable as NY Times... ;)....
Aethiest Science Monitor Keeping science in check since the big bang...
QuoteIt is as reliable as NY Times... ....
But not as reliable as Al Gore :biggrin: :biggrin: :biggrin: :biggrin:
Quote from: IYT IYT IYT on February 21, 2007, 10:50:29 AM
But not as reliable as Al Gore :biggrin: :biggrin: :biggrin: :biggrin:
OF COURSE NOT!! ;D
let's hear one more time about tax cuts...
http://articles.moneycentral.msn.com/Investing/Dispatch/070227markets.aspx?GT1=9114
I lost almost $600 in my stock values yesterday.
I havent looked and I dont want to. I have a feeling the jump I saw last quarter is gone.
Just checked mine today. I got back a little over $100 so far. Keeping my fingers crossed.
Wall Street spooked by shoddy reporting
Dow Jones Newswires ran a headline, saying "Greenspan: Recession in U.S. 'Possible.'" Bloomberg News Service said, "Greenspan says U.S. may slip into recession."
In fact, he predicted nothing of the sort, and even a cursory reading of what the former Federal Reserve chairman said in remarks via satellite at a global business conference in Hong Kong shows that quite clearly. Story after story, even after the markets' steep decline Tuesday, flatly reported that he saw a possible recession in the near future, without all of the caveats and modifiers for which Greenspan is famous when he talks about hypotheticals.
Here's what he said: "While, yes, it is possible we can get a recession in the latter months of 2007, most forecasters are not making that judgment and indeed are projecting (growth) forward into 2008 ... with some slow down." He went on to describe conditions in the global economy as "benign and stable," a view that is consistent with economic forecasters here and abroad. And he said both the United States and global economies were far more resilient now than ever before, partly as a result of increasing global liquidity.
In short, Greenspan's "widely reported comments weren't nearly as negative as the headlines portrayed," Malpass told his clients. But the r-word he uttered dominated the headlines and, in the 24/7 news world we live in, that message contributed to Wall Street's jitters and helped to push it into the tailspin we saw last week.
http://www.townhall.com/columnists/DonaldLambro/2007/03/05/wall_street_spooked_by_shoddy_reporting (http://www.townhall.com/columnists/DonaldLambro/2007/03/05/wall_street_spooked_by_shoddy_reporting)
So now we're blaming the "liberal media" for the Dow's dip?
Quote from: IYT IYT IYT on March 05, 2007, 04:06:17 PM
So now we're blaming the "liberal media" for the Dow's dip?
yes
aaaaaaaaaaaaaahahahahahahahahahahahahaha!!!!!!!!!!!!!!! :rotfl:
You know how the media has splashed news about red wine being good for your heart all over...I blame them for my hangover. :biggrin:
Quote from: IYT IYT IYT on March 06, 2007, 09:10:56 AM
You know how the media has splashed news about red wine being good for your heart all over...I blame them for my hangover. :biggrin:
I'm pretty sure, you are being a little sarcastic....and that is soooo not like you, IYT.......are you okay?... ;D
Well, it's Tuesday morning, I'm at work, so I've been better, but not bad. I was late for work today because I read in the media that there was a deadly car wreck and now I'm afraid to drive...so I walked. ;D
but at least you are not releasing toxic carbons into the air, so the water won't rise and wash you away on your walk home tonight.... ;) ;D
yea, but the media said too much walking could be bad on my knees, so...ah, I'm out of good quality sarcasm... :'(
http://www.breitbart.com/news/2007/03/09/070309142115.84ch37t1.html (http://www.breitbart.com/news/2007/03/09/070309142115.84ch37t1.html)
US trade deficit shrinks to 59.1 billion dollars
The US trade deficit narrowed 3.8 percent in January to 59.1 billion dollars thanks to record-breaking export growth, the Commerce Department said Friday.
It was a bigger drop than expected on Wall Street, where analysts saw a deficit of 60.0 billion dollars, and marked the steepest change in the trade figure since October.
An improving trade picture could be good for first-quarter US economic growth, as a higher deficit subtracts from gross domestic product.
http://apnews.myway.com/article/20070309/D8NOMJJO0.html (http://apnews.myway.com/article/20070309/D8NOMJJO0.html)
Unemployment Rate Drops to 4.5 Percent
WASHINGTON (AP) - The nation's unemployment rate dipped to 4.5 percent in February even as big losses of construction and factory jobs restrained overall payroll growth. Wages grew briskly.
The Dow Is Up Over 40 Percent Since The President's Tax Relief Took Effect.
QuoteUS trade deficit shrinks to 59.1 billion dollars
Wow...that's still not that great.
Quote from: IYT IYT IYT on March 09, 2007, 01:14:14 PM
Wow...that's still not that great.
considering over half that is going to Iraq....and it IS shrinking, faster than the predicted it would....
Quote from: Henry Hawk on March 09, 2007, 01:26:36 PM
considering over half that is going to Iraq....and it IS shrinking, faster than the predicted it would....
yeah, considering how well that money was/is being spent.
Quoteconsidering over half that is going to Iraq
and all this money could be spent at home keeping America from becoming a secular nation :biggrin:
well, in someway I imagine...let there be two Bibles for every hotel room
U.S. deficit for first five months of 2007 is down 25.5 percent from a year ago...
http://www.breitbart.com/article.php?id=D8NQPOCG0&show_article=1 (http://www.breitbart.com/article.php?id=D8NQPOCG0&show_article=1)
For the budget year that began Oct. 1, revenues are up by 9.3 percent to a record $954.4 billion.