Some Good News For A Change
"I Don't Mind A Parasite. I Object To A Cut-Rate One."
Last comment by sebekm 3 years ago.

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Here's some good news from today's financial headlines at Bloomberg.com. Hopefully it will serve to offset some of the negative "gloom and doom" trash that has permeated this blog site lately.

"S&P 500 Extends Best Month Since ’74, Euro Rises

Stocks surged, extending the biggest monthly rally for the Standard & Poor’s 500 Index since 1974, and the euro strengthened as European leaders agreed to expand a bailout fund to stem the region’s debt crisis. Treasuries sank, while metals and oil led a rally in commodities.

The S&P 500 jumped 3.4 percent to 1,284.59 at 4 p.m. in New York, sending its October gain to 14 percent and erasing its 2011 loss. The 20 percent monthly advance for the Dow Jones Transportation Average, a proxy for the economy, is the biggest since 1939. Benchmark gauges in France, Italy and Germany rose more than 5 percent as German and emerging-market stocks extended gains from this year’s lows to more than 20 percent. The euro surged the most in more than a year and 10-year Treasury note yields rose 17 basis points to 2.38 percent.

Equities, commodities and the euro rallied as the European region’s rescue fund was boosted to 1 trillion euros ($1.4 trillion) and investors agreed to a voluntary writedown of 50 percent on Greek debt. French President Nicolas Sarkozy spoke with Chinese leader Hu Jintao as Europe sought help in funding the bailout effort. U.S. data showed the world’s largest economy expanded last quarter at the fastest pace in a year, easing concern that the economy may relapse into a recession.

“Europe has done enough for the time being,” Russ Koesterich, the San Francisco-based global chief investment strategist for the IShares unit of BlackRock Inc., said in a telephone interview. His firm oversees $3.3 trillion as the world’s largest asset manager. “It will remove near-term pressure,” he said. “In the U.S., the GDP report was decent and it was encouraging to see the consumer hold. The fear of a recession is fading.”

Bull Markets
JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp. surged at least 8.3 percent to pace gains in all 81 financial companies in the S&P 500 today, sending the group up 6.2 percent and extending its advance from this year’s low to almost 25 percent. A gain of at least 20 percent from a bear- market low is the common definition of a bull market. The MSCI Emerging Markets Index, Germany’s DAX Index, Brazil’s Bovespa and Russia’s Micex have each surged more than 20 percent from their 2011 lows.

The S&P 500 rose to its highest level in almost three months and has rebounded 17 percent since Oct. 3, when it closed at the lowest level since September 2010. The advance has been fueled by better-than-estimated corporate earnings and economic data and growing confidence that European leaders would make progress in combating the sovereign debt crisis.

Earnings Season
More than half of the companies in the S&P 500 have released quarterly results since Oct. 11, and about three- quarters have beaten the average analyst estimate, data compiled by Bloomberg show. Net income has grown 16 percent for the group on an 11 percent increase in sales.

The Citigroup Economic Surprise Index for the U.S. this week climbed to the highest level in six months, reaching 17 on Oct. 24. The index increases when data exceeds economists’ estimates. The gauge has rebounded from minus 117.20 on June 3, when it showed reports were trailing the median economist projection in Bloomberg surveys by the most since January 2009.

The U.S. economy grew at a 2.5 percent annual rate in the third quarter, matching the median forecast of economists surveyed by Bloomberg, according to figures from the Commerce Department. Household purchases, the biggest part of the economy, increased at a more-than-projected 2.4 percent pace."

Read the entire article at:

http://www.bloomberg.com/news/2011-10-27/asian-stocks-euro-advance-on-europe-s-expansion-of-bailout-metals-rally.html


Latest Activity: Oct 27, 2011 at 6:07 PM


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Sheran commented on Thursday, Oct 27, 2011 at 19:38 PM

So did the gas prices!

sebekm commented on Friday, Oct 28, 2011 at 10:48 AM

Uh, not exactly. At least not over the past six months. Go here:

http://gasbuddy.com/gb_retail_price_c...

and select "Savannah, GA" for Area 2 and "6 month" for Time Period. This will give you a comparison (blue line vs. red line) of gas prices throughout the U.S. with Savannah (the closest location to us).

Not only have gas prices gone down significantly over the past six months, but in our area they stayed below the national average by 5-10 cents throughout the entire period.

Don't fall into the "gloom and doom" trap. Some of that stuff is self-fulfilling (i.e., if we tell ourselves things are bad they WILL BE).

Yesterday was a good news day for world financial markets. There's no need for you to be "fair and balanced" with any bad news.

DS has cornered the market in that regard.

timeontarget commented on Saturday, Oct 29, 2011 at 07:16 AM

Savannah Morning News editorial day before yesterday (Oct 27 2011)

Congressional Budget Office has reported that during fiscal year 2011 which concluded just a few weeks ago the U.S. government spent a record $3.6 trillion including a deficit that increased to just under $1.3 trillion.

The deficit is 8.6 percent of our country's gross domestic product.

It further reported that the deficit was 1.2 percent of GDP just four short years ago.

If we continue on the present path we might last four or five more years.

Yesterday was not good news for world financial markets. Yesterday they served up another round of greed and celebrated it as this blog so aptly reports.

sebekm commented on Saturday, Oct 29, 2011 at 11:51 AM

Pick and choose - the day BEFORE yesterday was the good news day. You can focus on yesterday if you want.

There are too many "glass half full" people in the world. They are that way because they want to be. People are just as frustrated today as they were 40 years ago. The only difference now is that we're not raising our children to be able to deal with it. Instead of looking WITHIN, our kids are being taught to place blame WITHOUT.

I heard an interesting discussion on the radio the other day. Back in the day, being "rich" was something people aspired to, as it indicated success in the system into which one was born. Today, being "rich" means that you are an evil, greedy ogre who got there by taking advantage of "the other 99%." What has changed? Have the "rich" gotten more greedy, more evil, more despicable than they were 40 years ago? Not likely. What has changed is now we blame others for our lack of success instead of looking in the mirror and trying to figure out how to make a success of ourselves.

But back to the main topic of this blog: I prefer "good news" whenever I can find it. October 27th was a VERY good news day. That was the point. If you prefer to ignore it, that's your choice.

sebekm commented on Saturday, Oct 29, 2011 at 11:55 AM

.....oooooopsss...should have said "glass half empty"....cut and paste...

DStrykr commented on Saturday, Oct 29, 2011 at 13:24 PM

I am sorry your cup is only half full. That is because your eyes are on worldly things. My cup runs over and that is because my eyes are on spiritual matters. You will reap the things of this world because that is where your heart and treasurers are. I will reap the things of heaven because that is where my heart and treasurers are.

If you don't like what I have to say, then DON'T read it.

sebekm commented on Sunday, Oct 30, 2011 at 13:02 PM

My cup isn't half full; I used that as an example of those people whose cup IS either half-empty or half-full when they look at their world.

We all have a hand in creating our own reality. I hope you are happy with yours.

As to liking what you say - I don't either "like" it or "dislike" it. But I will continue to comment on it when I think it is appropriate - especially when I feel your comments deserve rebuttal.

And - of course - If YOU don't like what I have to say - etc., etc., etc.

sebekm commented on Sunday, Oct 30, 2011 at 13:03 PM

....and I KNEW you would apply your depressive mood to this blog, which was designed to report some GOOD NEWS.

(How did I know that? Predictability.)

DStrykr commented on Sunday, Oct 30, 2011 at 13:32 PM

Yes, yes, 'preach to us only good news'. That's what the Israelis told their prophets before Babylon destroyed them. Not that I'm a prophet. The prophecies have already been written thousands of years ago.

https://www.facebook.com/#!/photo.php...

Wonder how the NAU and NAFTA are going?

sebekm commented on Sunday, Oct 30, 2011 at 16:14 PM

No - not ONLY good news, but good news FOR A CHANGE. That's unlike the depressing stuff you post.

The NAU and NAFTA are going about as expected, but on October 27th:

Stocks surged, extending the biggest monthly rally for the Standard & Poor’s 500 Index since 1974, and the euro strengthened as European leaders agreed to expand a bailout fund to stem the region’s debt crisis. Treasuries sank, while metals and oil led a rally in commodities.

The S&P 500 jumped 3.4 percent to 1,284.59 at 4 p.m. in New York, sending its October gain to 14 percent and erasing its 2011 loss. The 20 percent monthly advance for the Dow Jones Transportation Average, a proxy for the economy, is the biggest since 1939. Benchmark gauges in France, Italy and Germany rose more than 5 percent as German and emerging-market stocks extended gains from this year’s lows to more than 20 percent. The euro surged the most in more than a year and 10-year Treasury note yields rose 17 basis points to 2.38 percent.

Equities, commodities and the euro rallied as the European region’s rescue fund was boosted to 1 trillion euros ($1.4 trillion) and investors agreed to a voluntary writedown of 50 percent on Greek debt. French President Nicolas Sarkozy spoke with Chinese leader Hu Jintao as Europe sought help in funding the bailout effort. U.S. data showed the world’s largest economy expanded last quarter at the fastest pace in a year, easing concern that the economy may relapse into a recession.

“Europe has done enough for the time being,” Russ Koesterich, the San Francisco-based global chief investment strategist for the IShares unit of BlackRock Inc., said in a telephone interview. His firm oversees $3.3 trillion as the world’s largest asset manager. “It will remove near-term pressure,” he said. “In the U.S., the GDP report was decent and it was encouraging to see the consumer hold. The fear of a recession is fading.”

Bull Markets
JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp. surged at least 8.3 percent to pace gains in all 81 financial companies in the S&P 500 today, sending the group up 6.2 percent and extending its advance from this year’s low to almost 25 percent. A gain of at least 20 percent from a bear- market low is the common definition of a bull market. The MSCI Emerging Markets Index, Germany’s DAX Index, Brazil’s Bovespa and Russia’s Micex have each surged more than 20 percent from their 2011 lows.

The S&P 500 rose to its highest level in almost three months and has rebounded 17 percent since Oct. 3, when it closed at the lowest level since September 2010. The advance has been fueled by better-than-estimated corporate earnings and economic data and growing confidence that European leaders would make progress in combating the sovereign debt crisis.

sebekm commented on Sunday, Oct 30, 2011 at 16:14 PM

AND

Earnings Season
More than half of the companies in the S&P 500 have released quarterly results since Oct. 11, and about three- quarters have beaten the average analyst estimate, data compiled by Bloomberg show. Net income has grown 16 percent for the group on an 11 percent increase in sales.

The Citigroup Economic Surprise Index for the U.S. this week climbed to the highest level in six months, reaching 17 on Oct. 24. The index increases when data exceeds economists’ estimates. The gauge has rebounded from minus 117.20 on June 3, when it showed reports were trailing the median economist projection in Bloomberg surveys by the most since January 2009.

The U.S. economy grew at a 2.5 percent annual rate in the third quarter, matching the median forecast of economists surveyed by Bloomberg, according to figures from the Commerce Department. Household purchases, the biggest part of the economy, increased at a more-than-projected 2.4 percent pace."

Read the entire article at:

http://www.bloomberg.com/news/2011-10...

sebekm commented on Sunday, Oct 30, 2011 at 16:15 PM

So go peddle your gloom and doom someplace else.

sebekm commented on Sunday, Oct 30, 2011 at 16:21 PM

...but speaking of "good news," I presume you know that the literal translation of "Gospel" is "good news," don't you? Of course this means that the Israelites - and early Christians who were telling the story of Jesus way back when - were actually "preaching good news!"

How about that? Even back when the Prophets roamed the earth, they STILL had time for some GOOD NEWS (in between all of that "Revelation" stuff.)


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