[Chart courtesy of MarketWatch.com] Stocks closed higher Thursday as investors weighed improved reading on the jobs front against slightly disappointing construction spending and manufacturing data. According to the Labor Department, the number of Americans filing first-time claims for unemployment benefits dropped 2,000 to 351,000 last week, the lowest since March 2008. Four-week average now stands lower by 5,500 at 354,000, …
A Week Of Small Gains For the Major Market ETFs — Lofty Levels May Cause More Volatility
Wall Street witnessed another week of volatile trading though US stock indexes made weekly gains on Friday and the S&P 500 Index closed at its highest level since June 2008 after consumer confidence and home sales reports topped expectations. The earnings season is drawing to a close and markets next week will probably be more macro-economic news driven. So far …
A Precedent For Default: Will Greece Fall Again?
As Greece heads for treacherous waters in this debt storm, I can only wonder whether Greece will soon default. Amidst the political turmoil among Greek parties and disagreements between Greece and other Eurozone members, this beckons the following question: Can Greece avoid disorderly default? Despite recently passed austerity measures including a cut in government jobs, a decrease in the minimum …
All Eyes On Greece – The Saga Continues
In what seems to be a never ending saga, the Greek crisis has now hit another critical point. While the austerity measures agreed to this week were a necessary step towards cutting Greece’s debt load, it came at great political and social costs as internal unrest has hit a new fever pitch. There is still no deal with bondholders, and …
A Bleak Future Is In Store For Europe
Only time will tell if the Eurozone will overcome this debt crisis. However, Europe faces a near certain reality of economic stagnation. With the amount of austerity that has been put in place, prospects for growth are dire indeed. Not only is the economy likely to contract this as suggested by the IMF and others, but forward progress in the …
When Will This Greek Tragedy End?
While the markets appear impervious to the disastrous situation unfolding in Greece, we certainly are not. Although it’s difficult to quantify the impact of an adverse event in Greece on U.S. markets, Greek default is a very realistic scenario that could trigger a negative ripple effect globally. As Greece is mired in talks with its bondholders over the restructuring terms …