Good morning. Markets are trading in an unexciting range, giving us some consolidation. There is no economic numbers due out today and no major news out, so not much out there to prompt the markets to move one way or the other. I think, once again, traders are a bit tired and cautious. Most market players are split on whether the markets are finished with the downtrend (no), whether we’re in a recession, and arguing over whether the government and Bernanke is on top of the whole credit crunch situation. I admit it’s difficult to keep up with this market, but we stay on top of the news and follow our charts.
Goldman Sachs (GS) is firing some of their workforce, but they say it’s just an annual ‘housecleaning’ and not related to any problems. Fannie Mae (FNM) reports mortgage delinquencies rose to 0.9% in November vs 0.83% in October. Their mortgage investment portfolio grew at a 3.3% annual rate in December.
Recent Posts:
- Taxpayers to the Rescue of Afghanistan Banking Crisis?
- Economic Data and Earnings Schedule for September 2 2010
- Christina Romer Makes a Final Recommendation Before Leaving To Teach Keynesian Economics
- Homebuilder Hovnanian (HOV) Reports Dismal Quarter
- Auto Sales Data for August 2010
- Stock Market Rewind – September 1, 2010
