I alluded to what would happen yesterday with the headline about blowing up the Dow with the latest rate decision from the European Central Bank (ECB). Sit with me here and I’ll walk you though this nice and slowly: Wikipedia first:
Although the market was up yesterday, for a few minutes this morning, it seemed as though the market might be ready to turn-tail and run for the hills. The futures at one point were down more than 120. Now?
It has been a fair while since we have talked much about the anti-gravity project. THE WHAT???? Oh…how soon you forget!
First up we have the Challenger Job Cut report for February. After having a train wreck in January, this one is just downright peachy: CHICAGO, March 3, 2016 – After surging to a six-month high to begin the new year, downsizing slowed in February, as US-based employers announced 61,599 job cuts during the month, 18 percent fewer than the 75,114 in January, according to a report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.
Before we get into the daily dose of data (DDoD) we should point to the story making the rounds this morning about how the Chinese are watching the evolving groundswell in the direction of Donald Trump’s presidential bid with some concern. Specifically, according to the story over here, following the Nevada win by Trump, the Chinese have told the U.S.
On a weekly closing basis, it would sure be nice to see the S&P climb over the 1,950 level and stay there for a week or three, then pull back, but not to new lows, so I could load up on some out of the money options and make a bunch of dough. It would be nice, but we will see. In the meantime, this week is a busy one.
A point and to-the-short discussion this morning. First is the Leading Economic Index, released by the Thursday which work the bears up for the last hour or two of trading: The Conference Board Leading Economic Index® (LEI) for the U.
Very quietly this week I pass a wholly artificial boundary called a “birthday.” Everyone has one, but few people use the occasion for the purpose of hard introspection or to sit back and reflect on their learnings in the past year. I’m pleased to report in this morning’s State of the George report, that the state of George is good.
I feel like Prince BoCheesly, second in line to ascend to the throne as King of the Economic Universe and heir to the Fount of All Knowledge this morning as the S&P (which lately has been the S & P all over the place) arrives in the long-awaited showdown area. To be sure, I have referred to this generally as the “1950” area of the S&P but to be more precise, it is 1,940.24 recorded on January 19th.
There is not a lot going on in the news, here lately, so I figured this morning we could just kick back with a cup, or two, and commiserate about Life in general and how things work out – or don’t. A trip to the mailbox is our theme today. On the way out to the mail (our driveway is about half a block long) the peace and quiet of the neighborhood was still being disturbed with my brother-in-law.
While we wait a few seconds for the Retail Sales figures and other fresh data to land, the biggest story in the greater scheme of things is likely the discussion in the Washington Port this morning about how “Einstein predicted gravitational waves 100 years ago. Here’s what it took to prove him right.” This overcoming gravity is not going to be a “fast mover” because there is so damn much engineering ahead, but the discovery of gravitational waves could signal the dawn of a new technology on the horizon; one that science fiction writers have been telling us is coming ever since H.
Done feel bad, Tonto: I just made it up. Has do with with an odd state of simultaneous convexity and concavity of formerly partial-workable mathematical hieroglyphics (mined from thin air) used by quants.
(Sorry, just trying to be current with the weather mania going about…) While we are sitting around waiting for markets to open, we have one item on the agenda that, while not life changing, in an of itself, is nevertheless extraordinarily interesting. It is a learned report out of the Australian National University that may explain why we have not been having aliens lining up to knock on our doors and save us from ourselves. They may all be dead.