Thursday, September 9, 2010
Cross every freakin finger you have!
Stocks, bonds, job markets, real estate markets, yadda yadda yadda. Today, we have some positive news. And as "grown-ups" we should know all about this stuff. So here is my Sept. 9th, 2010 market update for complete and utter idiots ( I'm not insulting you, mostly myself since I have only recently started paying attention to it all ).
AP Business Writer, Stephen Bernard reported today that the economy is doing pretty darn well. NOW, we have to understand that our expectations are low. The slightest gain and we are pretty freakin happy. Much like WSU football team getting a first down in the game. While expected frequently for other teams, it's a big step for them. Congratu-freaking-lations.
But let me break it down why myself and Mr. Stephen are pretty excited:
-The Dow Jones Industrial average rose 64 points in midday trading, putting it back into positive territory for the year (GOOD!) We are still over the 10,000 make at 10,450.85
-The Labor Department said first-time claims for unemployment benefits fell last week to the lowest level in two months to 451,000 which is muuuuch better than the expected 470,000 (GOOD!)
-Job creation for was up in August (Duh, GOOD)
-BUT still, unemployment claims have not fallen enough to really get excited (WSU football reference) Experts say we need to get down to 400,000 unemployment claims to signal true growth in the economy. (WSU references stop here because I want the economy to improve, but definitely not the cougars. I'm glad we're all in agreement)
-Now, those Europeans need to get on the GAME! There is worry that the European debt could affect our markets (BAD, stinky Europeans) But thankfully, the awesomeness of the USA once again has been saving their butts. The Euro's got a bump from the U.S. jobs report.
So keep those fingers crossed and continue following our markets. It might take baby-steps but that still means we are moving forward. And as Mr. Leach would say, "may you have champagne wishes and caviar dreams".