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The Never-Ending Story

March 5, 2012 – 6:24 pm

There will be little economic news on the U.S. economy this week until Friday when we get the monthly anticipated jobs report. Last month we produced 243,000 new jobs. That number will be revised and we will get the new February report with its hoped for 210,000 new jobs.

As we wait for this end of the week statistic, this morning there was news out of China which suggested that the Chinese are expecting and guiding their economy to slower growth, about 7 to 8% over the next few years. In the last ten years they grew on average 10%. This is an apparent attempt for them to rein in some of their excesses in building and refocusing their attention on internal sustainable growth. At least that is what they are hinting at.

Also in the coming weeks we will get more clarification out of Europe and its never-ending story of debt woes. Greece will or will not accept and implement their austerity measures and will or will not get the massive funds they need to limp along with their failed economy. The outcome is still unclear.

It will be an interesting few weeks as the stock market digests, processes, and then regurgitates the data, reflecting that data in stock prices. So far investors and traders like what they see for 2012 mostly due to the stronger than expected U.S. economy, the one bright spot in the world at this point, though how bright is up for speculation.

Good Trading
Steve Peasley

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