Upbeat headlines have been everywhere in recent weeks, and they all seem to point to a single conclusion: The U.S. economy is in the early stages of a very rapid recovery.
U.S. stock index futures rose on Thursday following another string of stronger-than-expected quarterly corporate profits, a broker upgrade for General Electric Co , and fresh indications that the global economic downturn is easing.
Goldman Goes to Defends Energy Trading; Consumer Confidence Falls on Job Worries; Home Price Erosion Continues to Slow; Congress Works to Ban Incentive Pay, Give Shareholders a Voice on Bonuses; IBM Expands Its Data-Crunching Business;
It has been a strong two weeks for the equities market. Thanks to some positive news from the nation’s banking sector, the average investor is wealthier this week than he was last week. Is it time to lock in the gains?
What’s good for Goldman is bad for the nation.
Americans should have been in the streets to reclaim the country long ago. Patrick Henry and his fellow patriots are turning over in their graves about the present day USA. The savvy folks I talk to on a regular basis are exceedingly pessimistic that our blessed republic can pull out of this present financial, economic and political tailspin. The US as we have known it is on the ropes.
They’re wrong. We’re right. Now the Wall Street Journal says “recovery likely in second half.” And Goldman Sachs (NYSE:GS) calls for a stock market rally similar to the rally in 1982. Who are we to say they are wrong?
Gold declined gently throughout Far East and early European trading on Tuesday…and by shortly after lunchtime in London…had given up around four bucks. From there, a smallish rally developed that made an attempt to continue rallying on the Comex, but got cut off at the knees [at its high of the day] shortly after 9:10 a.m. Eastern time. This decline lasted until 1:15 p.m. in New York…and by the time electronic trading ended at 5:15 p.m. yesterday afternoon…gold was back to virtually unchanged from Monday’s close.
Did Goldman Sachs get too greedy this time? If so, the gravy train could be coming to an end…
A debate over the future of the U.S. Federal Reserve is taking place in the halls of Congress.
