Sam Stovall, chief investment strategist at Standard & Poor’s, explains why December may be a positive month for U.S. equities and why he recommends exposure to defensive sectors, such as consumer discretionary and health care.
11/26/2008
While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
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November 27th, 2008 at 7:56 pm
Video didn’t work for me in plain old IE7.
November 27th, 2008 at 10:03 pm
same here in both FF3 and IE7
November 28th, 2008 at 9:47 am
Well, I noticed yesterday, as far as bullish sentiment, that the supply of new homes rose again(it had been trending slightly downward) to 11.1 months….since the whole basis of this for the consumer anyway is the housing crisis, I look at that as bearish. For Xmas anyway. I think normally about 6 months is usual, and 11.1 months should mean that housing prices will probably stay very weak.