Posted on 09/20/2012 6:17:12 AM PDT by John W
NEW YORK (TheStreet) -- Stock futures were lower Thursday after lackluster Chinese and eurozone data added to worries that global economic growth was stalling.
In addition, the initial jobless claims data in the U.S. came in worse than expected.
The HSBC Flash China manufacturing purchasing managers' index showed manufacturing in China shrank for the 11th straight month in September, with the headline reading remaining below the 50 mark between contraction and expansion. The headline print rose to 47.8 from 47.6 in August.
Meanwhile, Markit Economics said that the eurozone composite PMI, which includes data points on both the manufacturing and services sectors, declined to 45.9 from 46.3 in August, the lowest level since June 2009.
(Excerpt) Read more at thestreet.com ...
This makes no sense... why would futures fall? Hopenchange Part Deux is nearly upon us. Happiness! Unicorns! Skittles!
Stocks don’t get confused about whether Obama’s economic plans are working. And they do not really care about important “culturally progressive” progress.
The United States and the EU have squandered enormous amounts of capital with all the financial gimmickry, bailouts and loan guarantees. essentially three generations of deficit spending, unsustainable debts and unfunded entitlements have weakened Western economies. The coup de grace has been leftist political policies that have severely inhibited productive capitalism. Instead of austerity and a somewhat painful course correction, financial gurus are simply diluting currencies and creating even greater debt.Economies will contract further. Things will get ugly.
All the ChiComs have to do is call Helicopter Ben. He can fly over Beijing and dump out tons of worthless dollars to fix their problems. (When gas costs $4/gal. and bread is $2.85 a loaf, you know it’s rapidly losing its value now.)
The other day when Fox showed the L.A. car chase where the robbers threw cash out of the car windows, I suspected Bernanke was involved.
If the stock market falls 2000 points by election day, I think Romney will win in a landslide.
About time I’ve been wanting to buy some bargains. lower please today.
Don’t think down 2000 in six weeks is allowed under Obama.
Where do they come up with the phrase “on signs of” when reporting financial news? They presume to know the reason for the news instead of just reporting the news. Why would they know the reasons causing a trend? Did they poll the traders?
For once I thought the “futures up/down on” story had a little bit of everything. The “unexpected” US jobless claims and then the eurozone and Chinese issues. But, you’re right. If these writers are part of the current economic expert crowd, why bother? All they know is how to slant headlines and stories to try and save Obama’s already fried bacon.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.