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11-29-2011 11:05 AM
The markets are holding onto yesterday's gains this morning and it appears to be keeping the grain complex in the black as well. It appears that the US consumer is not all that bothered by news out of Europe on a retail level as we saw record Black Friday numbers.
I am not convinced myself. I don't know about you, but people bum rushing Walmart to buy last years TV's on the cheap does not suggest to me that we are out of the woods just yet. We have seen some positive numbers, like today's consumer confidence numbers, but we still have a Euro Zone problem that has yet to be solved.
Lets remember that the rally seen yesterday was off of seven straight days of selling on the DOW. We still have not been able to recoup those losses so lets not get too excited just yet.
11-29-2011 12:14 PM
I would highly doubt that the people bum rushing walmart and pulling out the pepper spray have any idea about what is happening in europe, or any idea where it is for that matter. what happened on friday was indeed black, an embarassment. IMO it was more indicative of desparation, not people confident in the economy. I will stay home and shop online or wait until after the first of the year...
11-29-2011 02:02 PM
Dow and markets are not playing catch with investment dollars as predictably as a few months ago. I'm not sure why maybe the Corzine effect.
But that middle statement got my attention.---- u touch a cord----- I can remember when consumer data was based on car sales, appliances, mall traffic, luxury items, etc. Now it's the your example at best. The state of walmart is the state of our economy????
Data and news releases are interesting also. Black friday was a big success while the horses were entering the first curve.
By next year all we will have to do to be in the black is form a line for the photo-----------and bring our mace.
u r right the picture is not our best side.