UNBELIEVABLE!!!
Fed Hires Bear Stearns Risk Chief...To Supervise Bank Soundness
http://www.nakedcapitalism.com/2008/...k-chiefto.html
Two things, a process called "fair valuation" that TSP does and the EAFE is not the I fund and only "tracks" the I fund.
Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."
UNBELIEVABLE!!!
Fed Hires Bear Stearns Risk Chief...To Supervise Bank Soundness
http://www.nakedcapitalism.com/2008/...k-chiefto.html
Weatherweenie's Account Talk
Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
Welcome to the board STEBRN! This may help... http://www.tsptalk.com/mb/showthread.php?t=3111
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
08:17 am : S&P futures vs fair value: -18.80. Nasdaq futures vs fair value: -23.50. Futures give up a few points following worse-than-expected jobs data. According to the ADP national employment report, nonfarm private employment declined by 157,000 in October. September was revised to a decline of 26,000 from a decline of 8,000. The ADP data have had a spotty track record compared to the government's report, which includes both public and private nonfarm payrolls, and is set for release on Friday.
Weatherweenie's Account Talk
Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
08:00 am : S&P futures vs fair value: -13.40. Nasdaq futures vs fair value: -35.00. Stock futures indicate a downbeat tone to premarket trading. Cisco (CSCO) and Spectra Energy (SE) posted better-than-expected earnings per share results for the latest quarter. Williams Companies (WMB) missed the consensus EPS estimate. Media giant Newscorp (NWS.A) also reported earnings per share results that were below expectations and had its shares downgraded to Neutral from Overweight by analysts at JPMorgan. Wal-Mart (WMT) continues to attract bargain hunters; the discount retail giant reported October same-store sales growth of 2.4%. It expects November same-store sales to grow between 1% and 3%. According to Reuters, chief executive for Yahoo! (YHOO), Jerry Yang, stated a deal between his company and Microsoft (MSFT) remains the best strategic option for Yahoo. Separately, England's central bank cut its benchmark lending rate to 3.0% from 4.5%, and the European Central Bank cut its target rate to 3.25% from 3.75%.
Weatherweenie's Account Talk
Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
08:33 am : S&P futures vs fair value: -11.70. Nasdaq futures vs fair value: -27.50. Stock futures continue to indicate a downbeat tone ahead of the session's opening bell. Analysts at Morgan Stanley slashed their earnings estimate for Goldman Sachs (GS). Persistent uncertainty in financial markets and a clouded economic outlook have resulted in lower earnings expectations for many firms, and has also led to mounting job cuts on Wall Street. Recent reports indicate Goldman Sachs has informed some 3,200 employees, or 10% of its workforce, they will lose their jobs. Meanwhile, Bloomberg.com reported Citigroup (C) has begun notifying some of the 9,100 employees, or 2.6% of its workforce, whose jobs will be eliminated. The announcements coincide with continued government reports indicating a relatively weak labor market. Jobless claims for the week ending November 1 totaled 481,000, marking a 4,000 decrease from the prior week's upwardly revised claims number. The latest figures also exceeded the 477,000 claims that were widely expected. Continuing claims through October 25 totaled 3.84 million, which is up from the 3.72 million continuing claims reported through the prior week. 3.74 million continuing claims were expected in the latest report. In other economic news, preliminary third quarter nonfarm productivity was up 1.1%, exceeding the 0.7% increase that was widely expected. Nonfarm productivity increased at a 3.6% rate in for the prior report. Meanwhile, a preliminary reading of unit labor costs indicated a 3.6% increase, which is more than the 3.0% increase that was widely expected.
Weatherweenie's Account Talk
Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
09:00 am : S&P futures vs fair value: -6.90. Nasdaq futures vs fair value: -19.00. The major indices remain on track for a downward start to the session, according to stock futures. October same-store sales reports from retailers continue to hit the wires. Many are reporting weak results, though discount retailers and wholesalers are showing relative resilience. Crude oil futures extend the prior session's slide, currently down 1.4% to roughly $64.40 in early trading. Crude eclipsed the $70 mark earlier this week.
Weatherweenie's Account Talk
Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
09:00 am : S&P futures vs fair value: -15.00. Nasdaq futures vs fair value: -24.50. A downward start is in the making as futures continue to trade below fair value. Fed Chairman Bernanke stated in a prepared speech regarding coordination among central banks that financial turmoil was the product of a global credit boom, and monetary policy actions have not resolved the ongoing strains in financial markets. He also stated that continuing volatility of markets and recent indicators of economic performance confirm that challenges remain.
Weatherweenie's Account Talk
Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
Retail sales fall by record amount in October
Friday November 14, 8:54 am ET
By Martin Crutsinger, AP Economics Writer Financial crisis and weak economy push retail sales down by record amount in October
WASHINGTON (AP) -- Retail sales plunged by the largest amount on record in October as the financial crisis and the slumping economy caused consumers to sharply cut back on their spending. The Commerce Department said Friday that retail sales fell by 2.8 percent last month, surpassing the old mark of a 2.65 percent drop in November 2001 in the wake of the terrorist attacks that year.
http://biz.yahoo.com/ap/081114/economy.html
Weatherweenie's Account Talk
Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
08:02 am : S&P futures vs fair value: -17.60. Nasdaq futures vs fair value: -30.50. Futures suggest a lower start to the trading day. Japan officially fell into a recession for the first time since 2001, joining the Eurozone. The Nikkei managed to gain 0.7%. Separately, The G-20 agreed to continue to use fiscal measures to help stimulated domestic demand, help developing economies gain access to credit, among other initiatives. The G-20 also said there will be more international cooperation among regulators and banks will meet stricter standards. For the next 12 months the G-20 countries will not implement any new trade barriers. In corporate news, there is continued talk about possible government aid for General Motors (GM), Ford (F) and Chrysler. Lowe's (LOW) posted better-than-expected third quarter earnings, but gave downside fourth quarter earnings guidance.
Weatherweenie's Account Talk
Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
Target is the next big report, their guidance will set the tone.
Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."
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