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08-20-2009, 08:30 AM
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#1 |
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Administrator
Male Join Date: Mar 2005
Location: Simpsonville, SC
Posts: 12,360
CockyCash: 109993   |
Stock Market 8/20
Lots of economic reports will roll in today: initial jobless claims, housing and the index of leading economic indicators. China's stock market recovered it's losses from yesterday and is lifting exchanges around the world.
Futures are up even after a missed earnings report by Sears. Although an economic bell weather, I don't expect it to impact the overall market. Jobs is the driver today. |
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08-20-2009, 08:55 AM
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#2 |
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Administrator
Male Join Date: Mar 2005
Location: Simpsonville, SC
Posts: 12,360
CockyCash: 109993 |
Re: Stock Market 8/20
Jobless claims rose for the week when a drop was expected. Week to week some volatility is expected but this still will leave investors edge.
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08-20-2009, 11:28 AM
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#3 |
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Administrator
Male Join Date: Mar 2005
Location: Simpsonville, SC
Posts: 12,360
CockyCash: 109993 |
Re: Stock Market 8/20
The Leading Economic Index came in at a very good 0.6% which no matter what way you turn it, is good news. The consensus was for 0.7% but June was revised up to a healthy 0.8%. This indicator is cancelling out the worse than expected job losses and the market is up a little.
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08-20-2009, 01:56 PM
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#4 |
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Administrator
Male Join Date: Mar 2005
Location: Simpsonville, SC
Posts: 12,360
CockyCash: 109993 |
Re: Stock Market 8/20
The Philadelphia manufacturing report showed that activity increased for the first time in a long time. This is a very strong indicator that a recover is definitely on. In an economy like this, there is bad news that always goes with good news. Mortgage delinquincies are at a record high. And it just isn't sub-prime anymore, now prime mortgages are getting hit hard.
The Dow is up 50. |
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08-20-2009, 04:31 PM
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#5 |
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Administrator
Male Join Date: Mar 2005
Location: Simpsonville, SC
Posts: 12,360
CockyCash: 109993 |
Re: Stock Market 8/20
The market hits a 2009 high and is now by far the best performing stock market for the first seven months of any President in modern history. It's just incredible to watch this thing go up. Nothing seems to be able to stop it. Light volume and mixed economic news couldn't dampen investor's enthusiasm as they keep the runaway train heading in the good direction.
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