Archive for April, 2010
Friday, April 30th, 2010
The news from Europe is not good. France reported growth in their GDP long before we did and I was very surprised by that but it appears only a few of the countries in Europe are on the mend. Others such as Greece, Spain, Italy and Portugal are very weak with poorly functioning governments. Why does it matter?
The Euro is tied to all the economies in Europe just like our dollar is used throughout our states. If one country borrows too much money it can default on its loans. When that happens it weakens the Euro and that affects every country in the European Union. That is why the strong economies such as Germany are very unhappy. Their economy is strong yet if the Euro crashes their strong economy will crash along with it. That is why it is important to them.
It is important to us here in the U.S. because even though we are not tied to them we are affected by what happens in the world economy. That is the reality we live in.
Chances are very good the IMF or Germany will bail out Greece but will they bail out others as well? The stock market is uncertain about that.
Good Trading
Steve Peasley
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Friday, April 30th, 2010
Today’s Stocks & Topics: (STD) Banco Santander SA, (NEWS) NewStar Financial
Inc., (AAPL) Apple Inc., (BIDU) Baidu Inc., The Stock Market, (PBT) Permian
Basin Royalty Trust, (CSTR) Coinstar Inc., (MYL) Mylan Laboratories Inc.,
(NVDA) NVIDIA Corp., (T) AT&T Inc., (NFLX) Netflix, Inc.
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Thursday, April 29th, 2010
Today’s Stocks & Topics: (LHO) Lasalle Hotel Properties, Greece, (C)
Citigroup Inc., (SPWR.A) SunPower Corp., (GOOG) Google Inc., (BP) BP PLC.,
(MEE) Massey Energy Co., (ATHN) athenahealth Inc.
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Wednesday, April 28th, 2010
Sputtering
There has been little in economic news this week but a lot of earnings reports. Yesterday the consumer confidence report, which is not a major driver of anything in the stock market but is of interest, came in with a rise to 67.9 from 52.3 in March. The problem with this report is it has not been able to tell us much about the future, just the past. Still it is nice that it is moving up.
The market is reacting to the debt problems in Europe and though the Goldman Sachs hearing is in the news it is much to do about nothing when placed against the backdrop of our economy and the European debt crisis.
The Fed meets today and there is no doubt they will leave interest rates alone but there will be close attention paid to the bias in the accompanying statement they will release.
The market appears to be sputtering, something that should have been expected as earnings season winds down in the next couple weeks. Is it sputtering before a correction or sputtering before the next move up?
Good Trading
Steve Peasley
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