<U.S Economy>Don't you belive these schmucks- Particularly that fool Biggs.
I think that old goon Biggs from Morgan Stanley or whatever is the main reason for the market tanking today.Big deal if he reduced his allocation in stocks I don't give hoot do you?I wish he stashing everything under his mattress and go live in a bomb shelter or something.
Things couldn't be better,low inflation,low rates,low unemployment,pick up in manufacturing (finally),rate cut in Britan,European conglomerates reports healthy earnings,upgradation of sovereign credit of S.Korea,Malaysia easing Capital exit policies,Indonesia funding via banks and shutting down unviable one, no reason for China to devalue,Philippine predicting +3% GDP growth for the year,Thailand on a comeback trail,World GDP projected to grow around 2%,Europe +2.5%,U.S 2.5-2.9%....well you get the idea...
'Inflation fears' my ass-et,there is no data to support this theory at all at least not yet.
Screw Biggs and Morgan Stanley is what I say.<vbg>
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Here is bit more news support my argument.
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Thursday February 4, 11:26 am Eastern Time
U.S. jobless claims fell in latest week
WASHINGTON, Feb 4 (Reuters) - U.S. Labor Department report
of initial state jobless benefit claims, seasonally adjusted.
Week Ended Initial Claims 4-Week Avg. Continued Claims
- 1/30/99 292,000 317,250 Unavailable
- 1/23/99 301,000 333,250 2,178,000
- 1/16/99 316,000 351,000 2,345,000-R
- 1/09/99 360,000 344,250 2,243,000-R
REVISIONS:
Continued Claims: Jan 16 from 2,356,000 and Jan 9 from
2,238,000
FORECAST:
Reuters survey of economists forecast:
311,000 initial claims in the Jan. 30 week
STATES WITH INCREASES IN CLAIMS OF MORE THAN 1,000:
No states reported an increase in claims of more than
1,000 in the week ended Jan 23.
STATES WITH DECREASES IN CLAIMS OF MORE THAN 1,000:
Twenty-nine states reported a decrease in claims of more
than 1,000 in the week ended Jan 23. Among the largest were:
STATE CHANGE IN CLAIMS
North Carolina -22,458
Michigan -14,742
Tennessee -14,701
Ohio -7,928
Alabama -7,607
Georgia -7,574
Missouri -6,803
Illinois -6,348
North Carolina reported fewer layoffs in the construction,
service, textile, apparel, furniture, lumber/wood,
rubber/plastics and fabricated metals industries. Michigan had
fewer layoffs in the automobile industry.
Tennessee had fewer layoffs in the construction, trade,
service, mining, food, apparel, furniture, scientific
instruments, lumber/wood, printing/publishing and
rubber/plastics industries and in manufacturing.
Alabama had fewer layoffs in the textile, apparel and
lumber/wood industries, while Georgia had fewer layoffs in the
textile and carpets/rugs industries.
Missouri had fewer layoffs in the construction, trade,
service and apparel industries. Illinois had fewer layoffs in
the construction and service industries, and in manufacturing.
Ohio had no comment.
HISTORICAL COMPARISONS:
U.S. jobless claims in Jan. 30 week lowest since 289,000 in
Dec. 19, 1998 week.
U.S. four-week moving average in Jan. 30 week lowest since
307,750 in Dec. 19, 1998 week. |
