Greece
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4/12/10 Midday Report: S&P approaches 1,200, asks if it can come up and see it sometime
Earnings season is about to begin and Money McBags is more excited than Thomas Malthus at a pro-abstinence conference or Tiger Woods at a sleepover in Charlie Sheen’s house. The Street is going in to this earnings seasons with expectations higher than those of Elin Nordegren in October of 2004 so a few slip-ups could
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4/9/10 Midafternoon Report: Greek bail out back on causing market to fly like Icarus (though hopefully not quite as close to the sun)
The markets are higher today as fears of a Greek blow up subside for about the 69th time which is one more time than Ben Bernanke has taken an “accomodative stance” for the market in the past two months (and Money McBags isn’t quite sure what that means). In macro news, Retail sales were out
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4/8/10 Midday Report: Citi execs sorry they broke the economy, wipe their tears with their outsized bonuses
Money McBags is back and the markets are selling off a bit as apparently people somehow still care about Greece going bankrupt (but then again, some people also still care about the Poincare conjecture, the etymology of Star Wars languages, and saving the whales, so whatever). Seeing as how Greece hasn’t been relevant since the
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3/30/10 Midafternoon Report: Market rests today after spending all night trying to find the afikomen
Before we get to the market news, today marks an important achievement for mankind (perhaps an even more important achievement than Brooklyn Decker) as the Hadron particle collider is finally working sending two protons smashing in to each other at 99% the speed of light. Results hope to answer some of the Universe’s most essential
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3/29/10 Midday Report: Who needs yeast as market rises on Passover
Break out the menorahs as it’s Passover and thus time to light the candles, forgo yeast, and drink Manischewitz until the market makes sense and Mayim Bialik becomes attractive. The market is up today as economists ponder their own four questions: 1. “Why is this market different from any other market?” 2. “Why in this
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3/26/10 Midday Report: GDP revised down, Market revised up
The market is up again today and as far as Money McBags can tell the main reason is that it is open. There was a flurry of economic data released today, all of it inline, further signalling the stagnation of the recovery from a potential V-shape to a Bea Arthur-esque flatline (which is of course
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3/25/10 Midafternoon Report: Bailouts, stimulus, and earnings. Oh My!
The rally is on again as Germany says they will back Greece, earnings are crushing estimates, and Bernanke is going to continue to stimulate the economy like he’s the delightful young actress Jessica Pare (moderately safe for work) and the economy is Money McBags. Bernanke spoke to the House Financial Services Committee today and he
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3/19/10 Midafternoon Report: When Greenspan talks, people shouldn’t listen
Money McBags is busy today so just a few quick shout outs as the market goes through a bit of a sell off due to concerns over increased taxes in the health care bill, Germany backing out of bailing out Greece, and the officiating in the Robert Morris-Villanova basketball game yesterday which was so bad
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3/18/10 Midday Report: Market pauses to watch NCAA tournament, hopes boss isn’t looking
There was a flurry of economic data released today but unfortunately it was less decisive than a sugar addict with a severe case of ADD in a candy store with only $.50 to spend. Consumer prices remain unchanged, rising only .1% sequentially excluding food and fuel (or as they’re better known as, essentials). Consumer prices
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3/16/10 Midday Report: The Fed is coming! The Fed is coming!
The market is largely in neutral today as investors await the Fed’s decision on interest rates this afternoon. With the lilkelihood of the Fed keeping rates at their current low levels somewhere between the likelihood of Michael Lewis droning on about his bond trading days in his new book or the likelihood of getting herpes