As usual, we are linking to one of our favorite macro economic newsletters on investmenthouse.com. Their weekend summary is free and gives some good guidance as to what is going on in the world today as far as our financial systems go. Here is a summary and a link to the page:
Stocks blow a modest bounce attempt, but it was Friday pre-FOMC and they were not ready.
- DJ30 holding the 50 day EMA, SP500 and SOX may help out after a bit more downside.
- PPI falls for third month.
- IMF wants more US taxes.
- Holiday sales: CNBC poll corroborates Bloomberg poll.
- Poole talks of a political Fed.
- Leaders are holding on but after the week are a bit more ragged.
The big Friday blah. Sure there was some pre-market life but it was frittered away pretty much at the open. Without much ceremony stocks opened higher, kicked upside even more, then dropped the ball. Stocks faded to midmorning, bounced decently into mid-afternoon, then rolled over to lower lows. A decent rebound… Read More
Weekend Summary by InvestmentHouse.com: http://www.investmenthouse.com/weekendmarketsummary.htm