STOCK MARKET WATCH, FRIDAY NOV 28....(#1)

[ozymandius]

Friday November 28, 2003

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 423
REICH-WING RUBBERSTAMP-Congress = DAY 359
DAYS SINCE DEMOCRACY DIED (12/12/00) 2 YEARS, 350 DAYS
WHERE'S OSAMA BIN-LADEN? 2 YEARS, 41 DAYS
WHERE'S SADDAM? WHERE ARE THE WMD'S? - DAY 250
DAYS SINCE ENRON COLLAPSE = 734
Number of Enron Execs in handcuffs = 17
ENRON EXECS CONVICTED = 1
Other Arrests of Execs = 53

U.S. FUTURES & MARKETS INDICATORS
NASDAQ FUTURES-----------------------------S&P FUTURES




AT THE CLOSING BELL ON November 26, 2003

Dow... 9,779.57 +15.63 (+0.16%)
Nasdaq... 1,953.31 +10.27 (+0.53%)
S&P 500.... 1,058.45 +4.56 (+0.43%)
10-Yr Bond... 4.24% +0.06 (+1.34%)
Gold future... 398.00 +5.60 (+1.43%)

DOW..........................NASDAQ.......................S&P

||


GOLD, EURO, YEN and Dollars


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
PIEHOLE ALERT

Heads Up!
Preliminary info on appearances by Bush & Co. throughout the country. Details & links are added as they become available so check back. And if you know more, are organizing something, or would like to, contact [e-mail]

For information on protests and other actions Citizens For Legitimate Government

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

[ozymandius]

1. Wall St. at the mall (short session today)

NEW YORK (CNN/Money) - The crowds at the nation's shopping malls and discount stores will be the focus of U.S. stock markets Friday as investors check out the strength of the retail sector this holiday season.

At 5:20 a.m. ET, futures pointed to a lower open for the major indexes. The stock markets will be open until 1 p.m. ET as the celebration of the Thanksgiving holiday continues; they were closed Thursday.

The day after Thanksgiving is traditionally the launching point for the holiday sales rush, and observers are split about how strong a season this will be. The National Retail Federation says it expects a 5.7 percent increase in sales, but a Conference Board report earlier this week indicated that households will spend about 5 percent less this year.

story

[ze_dscherman]

2. Good morning! And a bad morning for the Dollar ...

Soros speculationg against Dollar, Euro hitting new record high:

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=243670

[ozymandius]

4. Aiyee Aiyee Aiyee! Not good.

So covering deficits by pumping dollars into circulation will not ameliorate anything.

[UpInArms]

8. daily dollar watch

and it's not looking very festive

http://quotes.ino.com/chart/?s=NYBOT_DXY0

Last trade 90.16 Change -0.61 (-0.67%)

Hope everyone had a pleasant T-Day :)

Have a great day Marketeers!

[ozymandius]

3. WrapUp by Mike Hartman (11/26)

Economic Reports are Booming

The economic reports rolling in this week have been nothing less than stellar in depicting a U.S. economy that is poised for further growth. Yesterday the Commerce Department revised the third-quarter U.S. GDP to 8.2%, the fastest rate of growth since 1984 and at the same time Consumer Confidence was reported to have increased from 81.7 in October to a reading of 93.7 for November. Today the Labor Department announced the number of Americans filing initial claims for unemployment benefits last week dropped to 351,000, the lowest number of new claims in the last three years. U.S. Durable Goods Orders rose 3.3% for the month of October, the biggest increase in the last 15 months, following an increase of 2.1% in September. The Chicago Purchasing Managers factory index rose this month to 64.1, the highest since February 1995, and up from the October reading of 55. Personal incomes rose by 0.4% in October and new home sales continue at a blistering pace. With all of the great economic news, bonds have been clobbered and stocks are struggling to hold the gains from Monday.

<cut>
If stocks end up in the red, we will have a day with the U.S. dollar falling, bonds falling and stocks falling. It sure seems odd to have such negative pressure on U.S. financial assets in light of our newly revived economic expansion. I’m back-tracking to fill in the closing numbers for the broad stock market indices and as I suspected, the close was slightly positive. The Dow Industrials gained 15 points to close at 9,779, the NASDAQ added 10 points to close at 1,953 and the S&P500 increased by four points to 1,058.

Two Lines of Thinking

First I will show the conflicting headlines on two Bloomberg articles from yesterday and today. Yesterday the headline stated, “Treasuries Gain as Economy Grows Without Generating Inflation” and today the headline reads, “Treasury Notes Decline After Economic Reports Point to Growth.” This tells me that the bond market is not responding to a potential increase or decrease in growth, but rather to a bigger macro-economic force. The bigger problem is the increased supply of treasury debt at a time when the demand for said debt is diminishing. More supply with less demand equals lower prices. It’s that simple. If we didn’t have an inordinate demand coming from Japan in an effort to weaken the yen and strengthen the dollar, we would see the dollar fall faster and lower than it would in a market free of intervention.

Short term interest rates still remain below the rate of inflation, so we still have negative real interest rates. The Fed Funds rate is still nailed at 1% while the personal consumption expenditures price index, a measure of inflation, increased at an annual rate of 2.3% for the third quarter. The Federal Reserve is fully bent on re-flation, by keeping interest rates at artificially low levels. The message to the markets from the Fed remains the same. The constant mantra from the Fed governors is that rates will remain low for an extended period. This is highly inflationary, and the Fed has openly stated that they would prefer to err on the side of inflation. According to Fed governor Parry in a speech yesterday, “With the amount of slack in the economy, even with robust growth between now and the end of next year we are not going to see an inflationary problem develop. That probably means that there is a greater amount of time where the Fed can have an accommodative policy. I suggest they are set up for a policy overshoot and will be forced to raise rates to combat inflationary pressures sometime early next year.

http://www.financialsense.com/Market/wrapup.htm

[chenGOD]

9. Does this seem like Animal Farm to anyone else?

You know the parts when Squealer comes out and announces how the farm is doing so well, yet all the animals are still starving and working as hard as ever?

I'm no economist by any stretch, so while obviously the growth for the economy is good, isn't it to be expected? I mean last year wasn't exactly a bumper year for the American economy...so of course it's gonna go up isn't it? I guess it's bigger than I would have expected, but I wonder how much the numbers are being skewed by seasonal shopping etc etc.

Anyone care to clue me in?

[UpInArms]

10. funny you should mention Animal Farm

because I was reminded of it last week when monkeyboy was in Fort Carson - they reported that a "spontaneous" chanting of "4 more years" was heard - all I heard when I read that was "4 legs bad"

and was reminded of Squealer and wondered who set in the chanting.

Eesshh!

This is so disgusting :puke:

[JNelson6563]

11. Good Morning Marketeers

Well this Marketeer didn't roll outta bed till about a half an hour ago! What lunacy! Also had a wierd ass dream, as odd as this rabbit hole we call the American economy.....

Anyhoo, had a wonderfully quiet family day here yesterday. I hope you all had a nice calm day too.

Being in the actual Great Lakes I can't tell you how I love that toon Ozy! haha Good one!!

Wrap-up brilliant. I'm readin' this part....

First I will show the conflicting headlines on two Bloomberg articles from yesterday and today. Yesterday the headline stated, “Treasuries Gain as Economy Grows Without Generating Inflation” and today the headline reads, “Treasury Notes Decline After Economic Reports Point to Growth.” This tells me that the bond market is not responding to a potential increase or decrease in growth, but rather to a bigger macro-economic force.

And I'm thinkin' it's prolly cause they are auctioning off boat-loads of Treasuries regularly and the market's flooded (especially when you consider the corporate bond offerings out there too!). Ol' Greenman thinks he's saving the boy king with these artificially low rates but Ithink it will result in an even more horrifying reckoning which I have foreseen coming for some time. It seems to me that all that is done to stave it off, just for a time, worsens it.

Like taking vicodin for that cancerous growth. It doesn't really help but you feel a little better.

Take cover all. BTW, did you happen to notice gold lookin' good? ;-)

Julie

[ozymandius]

5. Wall Street Seen Mixed; Retailers Eyed

LONDON (Reuters) - Wall Street was headed for a mixed start on Friday in thin volumes with investors focusing on the retail sector in anticipation of higher sales in the big shopping weekend following the Thanksgiving holiday.

"Many expect the session to be of bumper proportions, thus adding credence that the retail sector is still an integral part of the economic recovery process in the U.S.," said David Buik at Cantor Index.

By 6 a.m. EST, U.S. stock index futures were pointing to a mixed start to New York trading.

story

[radfringe]

6. no BLACK friday for me

I avoid the malls at all costs... shudder shudder

Meanwhile - my christmas budget is at least 1/2 of what it was last year, and that was half again from the previous year....

Most people that I work with have mentioned that they are cutting waaaay back this year

so what's your budget looking like? More, less or the same as last year?

[ozymandius]

7. Hi Rad! Cut cut cut - That's our budget.

Siblings are not exchanging gifts this year. Out of sympathy for those who have frighteningly limited resources (like us) those with whom we normally exchange gifts have requested of others to forego any gift purchases.

Our gift exchanges have been tapering off over the past few years. Often we have limited ourselves to the small Burt's Bees creature comfort gift pack ($10).

[JNelson6563]

12. Pretty modest

Those we exchange the token gifts with will get bottles of French wine. Especially my hubby's Freeper sister. haha

Will be spending much less than last year.

Good to see you Rad, hope it's all good with you.

Julie

[Supormom]

26. French wine- Great!

Now I know what to give my freeper sister-in-law!

[JNelson6563]

13. looking down on all fronts

9:52 and it's looking not so jolly:

Dow 9,770.83 -8.74 (-0.09%)
Nasdaq 1,951.27 -2.04 (-0.10%)
S&P 500 1,057.06 -1.39 (-0.13%)
10-Yr Bond 4.300% +0.058

Note money not flowing into Treasuries either. Two words come to mind as good investments; gold and China.

Julie

[Maeve]

14. No, no, no! All is merry and bright, dammit!

Dow 9,785.23 +5.66 (+0.06%)
Nasdaq 1,956.16 +2.85 (+0.15%)
S&P 500 1,058.45 0.00 (0.00%)
10-Yr Bond 4.302% +0.060


Wonderful day with the family--I think I need to take a day away from the news more often!

[JNelson6563]

15. Amen Sister Maeve!

Glad you enjoyed the news-free day. I did much the same.

Looks like a rally goin' on eh? ;-)

Dow 9,790.16 +10.59 (+0.11%)
Nasdaq 1,958.36 +5.05 (+0.26%)
S&P 500 1,058.95 +0.50 (+0.05%)
10-Yr Bond 4.308% +0.066

10:49

Ouch! My achin' 10 yrs!

Julie

[Maeve]

16. Remeber--short day and low volume

Anyone who's anyone is more interested in the mall streets than the Wall Street today (or sleeping in from the turkey-induced hangover) and the markets close at 1 pm. So it's a day for the game-players, not the REAL players.

Dow 9,801.35 +21.78 (+0.22%)
Nasdaq 1,961.57 +8.26 (+0.42%)
S&P 500 1,059.97 +1.52 (+0.14%)
10-Yr Bond 4.312% +0.070

[JNelson6563]

17. =easy manipulation

good point dear. Unfortunately Treasuries not so easy to make look shiny and pretty. ;-)


Julie-who does not shop the day after Thanksgiving EVER

[mrsteve]

18. 11:24 - hello everyone on post turkey day

Good to hear most everyone is kicking back a little today, and staying the hell out of the malls. I'm dialing in from Dad's house, so it's a much reduced news bandwidth - happily so.

Stocks are up a bit on very light action:

Dow 9,797.35 +17.78 (+0.18%)
Nasdaq 1,960.15 +6.84 (+0.35%)
S&P 500 1,059.74 +1.29 (+0.12%)
10-Yr Bond 4.312% +0.070

[UpInArms]

19. the yahoo! cheerleaders are definitely making me gag today

Briefing.com would add that the dollar's weakness is generally used as an excuse to book profits as it is not detrimental to the stock market itself... The lower dollar is actually a boost to the US economy as it augments the dollar value of overseas profits...NYSE Adv/ Dec 1883/987, Nasdaq Adv/Dec 1692/1065

huh??

what the f*** are we exporting other than jobs?

[ozymandius]

20. Good afternoon Marketeers!

The boy is taking a nap. So I have some time to update the stock crawl. At 12:20 we have...


Dow 9,796.38 +16.81 (+0.17%)
Nasdaq 1,961.05 +7.74 (+0.40%)
S&P 500 1,059.66 +1.21 (+0.11%)
10-Yr Bond 4.315% +0.073

[JNelson6563]

21. Isn't naptime great?

Hey Ozy and all who've joined us! Good to see everyone and I'd like to add I'm thankful for allour SWT friends and the brilliant insights all contribute daily. Especially grateful to Ozy for taking time out his busy schedule every day to kick things off.

What a great bunch of people you all are.

12:35 and hugging the flat-line actually:

Dow 9,791.79 +12.22 (+0.12%)
Nasdaq 1,960.38 +7.07 (+0.36%)
S&P 500 1,059.22 +0.77 (+0.07%)
10-Yr Bond 4.316% +0.074

A bit of a pounding in Treasuries though.

Julie

[Maeve]

22. 12:42 and it's Profit Time!

Dow 9,786.01 +6.44 (+0.07%)
Nasdaq 1,960.14 +6.83 (+0.35%)
S&P 500 1,058.58 +0.13 (+0.01%)
10-Yr Bond 4.304% +0.062

[ozymandius]

23. Naptime is great! Looks like the traders are falling asleep too.

12:46

Dow 9,781.27 +1.70 (+0.02%)
Nasdaq 1,959.25 +5.94 (+0.30%)
S&P 500 1,058.16 -0.29 (-0.03%)
10-Yr Bond 4.304% +0.062

[ozymandius]

24. finals

Market Summary

Dow 9,782.46 +2.89 (+0.03%)
Nasdaq 1,960.26 +6.95 (+0.36%)
S&P 500 1,058.20 -0.25 (-0.02%)
10-Yr Bond 4.306% +0.064

[radfringe]

25. CNN news crawler

said markets are slooowww because traders are waiting to see how black Friday turns out

:eyes:

[salin]

27. color me confused.... did things shut down early today?

a short day of trading? Not being a big market follower... think I am missing something.

[JNelson6563]

28. closed 1 pm today

See you on Monday Marketeers!

:hi:

Julie

[salin]

29. thanks

with the graph still ticking... it looked a tad strange.

[JNelson6563]

31. no kidding, unprecedented flat-lining

that would/should freak anybody out. haha Even in these strange times.

Julie

[jenk]

30. if we're in a recovery....

then why has the market been so flat the past 3 weeks?