Brent Nyitray
Fairlington Blade
Let the mutherfuker burn!
jnc4p
Kevin S. Willis
Michigoose
lmsinca
markinaustin
Arcanaut
novahockey
quarterback
ScottC
yellojktVital Statistics:
| Last | Change | Percent | |
| S&P Futures | 1222.9 | -0.2 | -0.02% |
| Eurostoxx Index | 2333.1 | 26.250 | 1.14% |
| Oil (WTI) | 88.73 | 0.390 | 0.44% |
| US Dollar Index (DXY) | 76.61 | -0.538 | -0.70% |
| 10 Year Govt Bond Yield | 2.21% | 0.04% |
Happy 24th anniversary to the Crash of 1987.
The S&P rallied in the last hour of trading last night on a story in the Guardian that France and Germany have come to an agreement on a Greece bailout. Officials later denied that there was a deal.
AAPL posted lower than expected earnings last night due to lower IPhone sales. While there probably isn’t too much you can read into this (people were delaying IPhone purchases in order to get the new one), the law of large numbers may be catching up with them. Other companies reporting last night / this morning: INTC. YHOO, ISRG, MS, ONNN.
In economic news this morning, the CPI came in more or less in line with expectations – an increase of 3.9% YOY / 2.0% ex food and energy. Housing starts jumped 15% MOM to 658k. While there are some one-time factors that explain the jump, it confirms the increase in the home builder sentiment index yesterday. Of course we were talking about this a month ago after the KB Homes 3Q conference call. The homebuilder ETF (XHB) is up 14% since then.
Does this increase in homebuilding herald a nascent recovery? Well, the increase is huge, but is coming from very depressed levels. 1500k is more of a normal number. Still, earnings season has started off well. If this continues, and we get some sort of resolution on Europe, we could be in for a Santa Claus rally.
Based on this verdict for $144 million, maybe Michigan’s tort reform system needs a little tweaking. It was a “birth trauma” case so the amount probably isn’t quite so crazy as it seems at first blush, but it’s still pretty crazy. It is expensive to take care of someone with severe cerebral palsy but I never worked on any birth trauma cases where the damage projects were near $100 million.
–ashot
Filed under: Morning Report, tort reform |
All Things in Moderation 
Is there a chart or something missing at the top? Otherwise, I love Santa Claus.And they say a picture's worth a thousand words, check these out and maybe you'll get a sense of why many of us say our economic system hasn't worked too well for most Americans.
LikeLike
fixed it. don't know why that happened…
LikeLike
I'm going to blame me. I think I probably inserted a character or deleted one when I added my post.
LikeLike
Oh and that you'll above was meant in the generic sense, not directed at anyone in particular. I feel the need to suddenly clarify every little thing I write, lol.
LikeLike
lmsinca- We all know you meant ScottC and QB. 😉
LikeLike
Dangit, busted again.
LikeLike
Anyone else notice the new guy on the right under followers? He found us somehow which is encouraging, but he hasn't commented yet as far as I know.
LikeLike
lmsinca, you stalker. We should use the absence of our usually vocal group of republicans to bash them.
LikeLike
"AAPL posted lower than expected earnings last night due to lower IPhone sales."Obviously people waited. Apple announced it had sold four million of its new iPhone 4S smartphone in the first three days of availability. I don't think that includes folks buying in on the free (with contract) 3GS or the reduced price iPhone 4s. I myself rushed to buy a 16 gb iPhone 4 before they ran out of stock, since they would only be carrying the 8 gb iPhone 4 going forward, after old iPhone 4 stock was depleted. However, I had been waiting for the release of the 4S and new iPhone 4 pricing to buy the iPhone 4 that I had been wanting ever since the iPhone 4 was released. I don't think I was the only one.
LikeLike
*reduced iPhone 4. I said "4s" to be plural, but I realized that that doesn't work as a contrast between 4S and 4s. Whoops.
LikeLike
"We should use the absence of our usually vocal group of republicans to bash them."I heard that.Can't do anything about it, though. Too dang busy. So many projects so far behind. But I click on the window to see what's up when I need to go to the web to look something up."I'll be back."
LikeLike