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Why Is The Market Going Up When Jobs Are Going Down?
Last month the national unemployment average rose to 9.8%. It’s actually at 17% if you count distressed and underemployed workers. Not only is unemployment data weak, it’s getting worse. Former Fed chairman Alan Greenspan said unemployment would hit at least 10% before turning back.
Even with this well-known data, the market is going up. The S&P 500 is sporting a mostly gentle uptrend from March to October. The market thinks we’re recovering. Bernanke and company have said as much. However, given that we have the toughest job market in a generation, to me it seems a little premature to declare recovery –…
27Oct2009 | Invest With An Edge | 0 comments | ContinuedMarket Update: Wells Fargo (WFC), Bank of America (BAC), General Electric (GE), Dell (DELL) and more
GM May Salvage Pontiac Car; CIT Void to Be Filled, More Expensive; Dell Expects Higher Q2 Revenue; U.S., UBS Lawsuit Delayed for Possible Settlement; U.S. Deficit Grows; Russian Investor Boosts Stake in Facebook; Microsoft Office Goes Online
- General Motors Co. (OTC: GMGMQ) is “actively” looking to salvage the relatively new Pontiac G8 from the discontinued Pontiac brand – renaming it as the “Caprice†– to provide a large performance sedan to the Chevrolet division, which will soon account for 75% of GM’s U.S. auto sales, company Vice Chairman Bob Lutz told The Wall Street Journal. In an e-mail to the newspaper, Lutz…
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