Market News

[tsptalk]

The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.
The surprise contraction could raise fears about the economy's ability to handle tax increases that took effect in January and looming spending cuts.

US economy shrinks 0.1 pct., 1st time in 3 ½ years - Yahoo! Finance

Kind of makes you wonder what all the excitement in the market is all about.

Thank goodness for technical analysis or I would be burying my money in the backyard instead of being invested in stocks.

 

[weatherweenie]

The Federal Reserve said Wednesday it will maintain its asset buying of $85 billion a month and stick to its commitment to hold interest rates near zero until unemployment falls to at least 6.5 percent from the current 7.8 percent.
The central bank decision, which followed a two-day meeting, had been widely expected, especially after a surprising decline in U.S. economic growth for the fourth quarter.

Federal Reserve to Continue Stimulus Amid Signs of Weak Economy

 

[wavecoder]

good post fireweather, but as a technical trader, I'm less optimistic.

transports are getting destroyed today and the VIX is waking up

 

[wavecoder]

no doubt, figured it was only a matter of time before the market would pull back, and much more likely as we get past january and into february. healthy move for the market, i'm still long-term bullish. just for now, I don't like riding the down moves for obvious reasons

that transfer to the I fund looks good, the dollar is showing weakness which will help it.

 

[bmneveu]

wow look at this selloff into the close. the bottom may fall out tomorrow if the bulls dont show up..

 

[wavecoder]

wow look at this selloff into the close. the bottom may fall out tomorrow if the bulls dont show up..

crazy, i would be pissed off if i wasn't already up pretty good this year so far. time for the pullback.

 

[weatherweenie]

Economy Adds Another 157,000 Jobs; Rate Up to 7.9%
The new year started off with an old story: Employment grew again in January
but not at a pace able to lower the jobless rate.

Nonfarm payrolls rose 157,000 for the first month of 2013 while the
unemployment rate edged higher to 7.9 percent, news unlikely to alter the
Federal Reserve's monetary policy or instill confidence that the recovery is
gaining steam.

 

[bmneveu]

Ouch.

Economy Adds Another 157,000 Jobs; Rate Up to 7.9%
The new year started off with an old story: Employment grew again in January
but not at a pace able to lower the jobless rate.

Nonfarm payrolls rose 157,000 for the first month of 2013 while the
unemployment rate edged higher to 7.9 percent, news unlikely to alter the
Federal Reserve's monetary policy or instill confidence that the recovery is
gaining steam.

 

[weatherweenie]

Initial claims for state unemployment benefits dropped 27,000 to a seasonally adjusted 341,000, the Labor Department said on Thursday. The prior week's claims figure was revised to show 2,000 more applications received than previously reported.

 

[jkenjohnson]

Initial claims for state unemployment benefits dropped 27,000 to a seasonally adjusted 341,000, the Labor Department said on Thursday. The prior week's claims figure was revised to show 2,000 more applications received than previously reported.

Hasn't really made a dent in the futures?

 

[weatherweenie]

Industrial production dipped 0.1 percent last month after a revised 0.4 percent gain in December, the Federal Reserve said.

Economists polled by Reuters had expected industrial output to rise 0.2 percent in January. The report comes on the heels of data this week showing retail sales growth slowed in January as households adjusted to higher taxes.

 

[RealMoneyIssues]

Oops, put this in the outlook thread and not the news thread, got BT all giddy...

The New York Federal Reserve's regional manufacturing gauge rose to 10.04 in February -- its highest level since May 2012 -- from -7.78 in January. The gauge was expected to rise to -2. Readings above zero point to expansion, while those below indicate contraction.

 

[weatherweenie]

Initial claims for state unemployment benefits increased 20,000 to a seasonally adjusted 362,000, the Labor Department said on Thursday. The prior week's claims figure was revised to show 1,000 more applications received than previously reported.

 

[nnuut]

Santelli: Rise of the Zombie Clones - CNBC

 

[wavecoder]

Lord bless Charlie Mopps, the man who invented beer

 

[weatherweenie]

The U.S. economy barely grew in the fourth quarter although a slightly better performance in exports and fewer imports led the government to scratch an earlier estimate that showed an economic contraction.
At the same time, the number of Americans filing new claims for unemployment benefits fell more than expected last week, suggesting some traction in the labor market recovery.

Slow Going: GDP Growth Inches Up; Claims Lower

 

[bmneveu]

The U.S. economy barely grew in the fourth quarter although a slightly better performance in exports and fewer imports led the government to scratch an earlier estimate that showed an economic contraction.
At the same time, the number of Americans filing new claims for unemployment benefits fell more than expected last week, suggesting some traction in the labor market recovery.

Slow Going: GDP Growth Inches Up; Claims Lower

I was surprised futures didn't pop up when this came out.

 

[Frixxxx]

I was surprised futures didn't pop up when this came out.

Didn't meet expectations. Slow down in growth indicating we're not out of the woods yet.

 

[WorkFE]

It might just be the way I have been viewing it but it seems over the past 6 months markets popped up when this particular news was bad and retreated when it was good but did not meet expectations. Could just be me though.

 

[Birchtree]

The Fed needs continued weakness for cover so they can continue to pump. This market is probably discounting the future at least into 2014 - so more gains are inevitable the rest of this year. Get ready to ride into uncharted territory.