Dennis Lockhart
NEW YORK, Aug. 15 /PRNewswire/ -- How can the Federal Reserve lean toward higher rates to fight inflation while it contends with an economy still weighed down by the housing market collapse? Is the Fed less concerned about accelerating inflation as oil prices continue to tumble? Starting today on the Bloomberg Television(R) show "On the Economy," anchor Kathleen Hays explores these and other questions in exclusive one-on-one interviews with members of the Federal Open Market Committee. Today, August 15th - Atlanta Federal Reserve President Dennis Lockhart Tuesday, August 19th - Richmond Fed President Jeffery Lacker Wednesday, August 20th - Minneapolis Fed President Gary Stern Then join BLOOMBERG TELEVISION on Thursday and Friday, August 21st and 22nd ...
A Passing Grade So Far
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Stocks continued to pull back on Friday on the back of new troubles in the financial sector and worry over the impact of yet another record high close for oil. But, in terms of the test of the breakout zone that we spoke of on Friday morning, so far at least, it looks like the market gets a passing grade.
It was little surprise that AIG reported a loss, but the severity of the loss ($7.81 billion to be exact) and the announcement that the company plans to raise $12.5 billion took investors by surprise. Add to that the news that Citigroup (C) announced plans to sell off $400 Billion in non-core assets and it becomes pretty clear that all is not well in the financial sector. In short, the fact that we may ...
Is Bad News Priced In?
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Although it wasn't exactly a cake walk, the bulls finally wound up winning a round yesterday. Despite another day of volatility, it appears that the positive factors outweighed the negatives for a change as investors might have felt that the bad news just might be priced into the market at this point.
The day began on a dour note and after three days of selling, which had knocked more than 540 points off the Dow, there didn’t appear to be much hope for a rebound. The problems included a disappointing earnings report from Cisco Systems (CSCO), one of the worst reports on monthly same-store sales in decades, and the usual problems with the Housing market.
Although Cisco Systems is known for its ability to beat their earnings estimates by ...
Hope Proves Elusive
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Although the bulls appeared to be on track for a bounce after Tuesday’s thrashing, hope for improving market sentiment proved elusive yesterday as fear once again wound up dominating the action by the close. At the end of the day, investors were staring at a third straight down day and total losses of 543 points on the week.
Our heroes in horns seemed to have things going their way in the early going. Tuesday’s selloff felt like it had been overdone and as such, the bulls were hoping that some positive action early on might get the bears running for cover. In the plus column, stocks were bouncing across the pond, the economic data was a positive for a change as the reports on Nonfarm Productivity and Unit Labor Costs were both ...
The Path of Least Resistance
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With stocks continuing to move straight down almost on a daily basis and the S&P 500 breaking to its lowest level in 14 months yesterday, the phrase of the day right now seems to be: “The path of least resistance is down.” If we have heard it once this week, we’ve heard it 20 times as suddenly every money manager on T.V. is trying to look smart while their mutual funds are getting creamed.
Wednesday's session certainly started off on a dismal note as the earnings report from Intel (INTC) created a bit of an emotional tizzy around the world overnight, which certainly didn’t do much for stocks here in the pre-market. Then when we failed to receive even a ray of hope from the CPI report, it looked like ...
