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Job Reports: Why Friday Could Be A Significant Market Day
Another big day for Wall Street looms this Friday.
Being the first Friday of the month, we’ll get the latest monthly unemployment reading from the Department of Labor – a release that always has Messrs. Rick Santelli and his fellow TV cronies breathlessly awaiting it, before launching into a hyperbolic waffle-fest about what it all means.
All monthly job reports are significant, of course. But this one could be more so because it will be a test of the stock market’s recent strength.
As we’ve argued here before, the speed and power of the current rally, while impressive, probably isn’t sustainable. Markets never move…
8May2009 | Smart Profits Report | 1 comment | ContinuedBehind Today’s Dire Job Market, There’s A New American Renaissance
This morning, I ran into an unemployed friend of mine, who is currently enduring his second stint on the jobless circuit this year.
He’s had a few interviews, but nothing has panned out yet. There just aren’t many companies in his area that are hiring. But rather than get down about it, he’s taking proactive measures and looking into a form of self-employment.
So in the wake of yet another abysmal U.S. job report today, here’s a ray of hope amid the doom and gloom…
Profession vs. Passion
There can sometimes be a big difference between a profession and a passion. If you’re lucky…
9Mar2009 | Smart Profits Report | 0 comments | ContinuedU.S. Automakers, Freddie Mac and Foreign Exporters Next in Line for Bailout Handouts
This week is shaping up to be another active one on the bailout-and-financing front.
First and foremost, Congress returns to work this week to consider a once-unthinkable proposal: Put up billions in taxpayer-backed loans so that Detroit’s “Big Three” can be saved. Expect a fight, however, as the bailout debate finally moves past banks to focus on General Motors Corp. (GM), Ford Motor Co. (F), and Chrysler Corp.
The situation is dire. GM is burning through cash at a pace that could mean bankruptcy, and all three players are struggling with high costs, weak vehicle sales, frozen credit lines and dwindling cash…
17Nov2008 | Money Morning | Comments Off | Continued
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