That is the jist of it isn't it? hahahaha! Luv it!!
So Good Mornin' Ozy and all--
Who knows what in the heck we can expect today? Not me.
Here's a blurb from the wrap-up:
Watch Out For This Week’s Reports
There is still enough ammunition for the Bulls to spin the market higher again this week. The consumer sentiment number that was due out on Friday will be released tomorrow and it is expected to show a slight increase in consumers’ outlook. This tells me the consumer hasn’t thrown in the towel yet. There are still tax rebate checks waiting to be spent and money left in the pipeline from mortgage refinancing. The new report on refinancing from the Mortgage Banker’s Association will be out on Wednesday. The refi index hit an all-time high ten weeks ago at 9,978 and has been in freefall for the last month and a half, reaching 3,238 in last week’s report.
By tomorrow all of the second quarter earnings reports will be complete for the Dow 30 Industrials when Hewlett-Packard and Home Depot report. If Home Depot can repeat the earnings gain that Lowe’s announced today, stocks could go even higher tomorrow. Other retailers that are reporting tomorrow include Saks and BJ’s Wholesale, then on Thursday we will hear from Nordstrom and the Gap. Retail sales have held up well, so these reports could get some extra spin on an improving economy.
New unemployment claims will be released Thursday as usual and it is expected that new claims will remain below the carefully watched level of 400,000, another indication of an improving economy. What I find quite troubling is the fact that another major manufacturer in the U.S. has decided to pick up camp and head overseas. Eastman Kodak, one of the long standing large-cap, blue chip bellwethers here in the USA is moving their headquarters for digital cameras currently based in Rochester, NY to Japan. Kodak believes they will have a better chance to secure a larger global market share for their digital cameras if they are based in Japan rather than the United States. Folks, we are literally exporting our jobs and our future if U.S. companies continue to follow the example of Kodak. They call for Americans to be patriotic by spending more money to keep the economy going while the jobs sprout wings and fly away. We are witnessing first hand the DE-industrialization of the United States. Manufacturing employment in the U.S. is at the lowest level in fifty years. If we can’t make anything we will definitely be at the mercy of the world to get the things we need… not good. To compound the problem, as a country we also have to borrow the money from foreigners first, then buy what we need from them sending the profits back overseas. It’s a vicious circle.http://www.financialsense.com/Market/wrapup.htmThere is talk of and two charts dmonstrating points on
insider selling. Very interesting.
Some of the trees look pretty but stepping back to look at the forest, the view changes a bit.
Julie
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