Archive for March, 2010
Wednesday, March 31st, 2010
Today’s Stocks & Topics: The Recovery, Caps, (RIMM) Research in Motion Limited, (MYL) Mylan Laboratories Inc., Commodities, (IPXL) Impax Laboratories Inc., (ATT) At&T Inc., (HURN) Huron Consulting Group Inc., (TSTC) Telestone Technologies Corp.
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Wednesday, March 31st, 2010
ADP, the private payroll company, provides a jobs report every month a few days before the official report from the commerce department. This morning their report showed a surprising shrinkage of 23,000 jobs when the expectation was for a growth of 40,000. They do not count government jobs only those in the private sector. Friday the official report will show growth simply because of the census bureau hiring of up to 200,000. Those are temporary jobs but at least it is something.
Earnings season is rapidly approaching. There have been very few earnings warnings, companies reporting that their earnings may not meet expectations, which bodes well for a very good season this quarter. It is going to have to be to push stock prices higher.
There is a stark difference between what is happening to people with high unemployment and home foreclosures and to corporations with very good earnings and historic high cash on their balance sheets.
When jobs actually do start to show up, that can only improve the bottom line for companies which are already doing very well. Therefore the question is will the stock market reflect this improvement or is the improvement already built into stock prices? I would suggest you stay with the trend which is up. Just do not be greedy. It is prudent to take profits but buy back in on any weakness those stocks that are growing in this tough environment.
Good Trading
Steve Peasley
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Tuesday, March 30th, 2010
Today’s Stocks & Topics: Personal Finance, (ARO) Aeropostale Inc., I-Shares, (FXI) iShares FTSE/Xinhua China 25 Index Fund, (LLEN) L & L Energy Inc., (GGP) General Growth Properties Inc., (ORLY) O’Reilly Automotive Inc., (TNH) Terra Nitrogen Co LP.
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Monday, March 29th, 2010
Today’s Stocks & Topics: Dividends, (PSE) Pioneer Southwest Energy Partners LP, (ABT) Abbott Laboratories, (BPI) Bridgepoint Ed Inc., (AOB) American Oriental Bioengineering Inc., (AAPL) Apple Inc., (NILE) Blue Nile Inc., (KWR) Quaker Chemical Corporation, Real Estate, New technology.
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Monday, March 29th, 2010
The market took a decidedly bullish turn this morning when the February Personal Income and Consumptions reports were released. It wasn’t that either report was strong rather it was the fact that while income was stable, spending actually rose thus consumers saved less. Since consumer spending is 70% of our economy it appears that they have decided to open their wallets just a little more and that gives the stock market feelings of hope. Are consumers coming back after being very reluctant to spend for well over a year?
Also, these two reports indicate that inflation, year over year, is only at 1.3%. Unlike the CPI and PPI reports we had last week the Personal Consumption Expenditures part of the reports out this morning exclude food and energy. This is an effort to gauge underlying inflationary pressures and there is none to see. Of course you and I can’t exclude food and energy from our costs thus we see inflation many times when the government does not.
So these two reports provided a reason for the market to move up. Over the last two trading days the market was up in the morning only to give it all back by the end of the day. It would be nice to see it hold up this time. The investors and traders are having a hard time breaking through the 11,000 barrier on the DOW. It will be broken, but it would be nice for it to happen sooner than later.
Finally, the jobs report for February comes out on Friday, Good Friday before the Easter break. Let’s hope it is a good Friday for jobs.
Good Trading
Steve Peasley
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