Election rally yesterday, back to reality today
If there was ever a billboard that financial markets and American business would love to place in front of our elected officials it would read “Do No Harm.” Last nights election results in Mass was exactly that message as political traffic jams are preferred to free reign when it comes to making policy that impacts each one of our lives and livelihood. But, we had the Scott Brown rally yesterday. Today it’s back to economic reality and an earnings season that is mediocre so far relative to expectations as IBM and CSX are the newest co’s to trade off after earnings following other high profile names like JPM, INTC and AA. Also, the Shanghai composite traded down by 3% to a 4 week low on the belief that Chinese officials will continue to take steps to cool both asset and consumer price inflation pressures. Greek bonds are getting slammed again and the euro is at a 5 month low as investors show little faith in Greek politicians.
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January 20th, 2010 at 10:46 am
[...] is mediocre so far relative to expectations,” Miller Tabak equity strategist Peter Boockvar writes at The Big Picture. Add in pressure over Chinese officials’ comments about reining in asset [...]
January 20th, 2010 at 11:52 am
Hate to use the cliche, but black swan?
January 20th, 2010 at 12:06 pm
[...] [...]
January 20th, 2010 at 4:28 pm
[...] to economic reality and an earnings season that is mediocre so far relative to expectations,” writes Miller Tabak equity strategist Peter [...]