Weak Earnings and Bad Economic Data Pummel Stocks – Ep. 48
Jan 28, 2015•35 min
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more
Episode description
* Wall Street spared blizzard only to be buried in bad earnings and bad economic news
* December durable goods down 3.4%; expected to come in at +.7
* Consumer confidence up to 102.9; contrarian indicator
* Last time consumers were this confident was in the middle of 2007
* Number will collapse when reality has a violent confrontation with perception
* P&G earnings down 31%
* Caterpillar warned
* Microsoft stock down 10% today
* UPS announced they overestimated holiday sales
* Businesses geared up for a recovery in late 2013 that was not going to happen
* Layoffs coming in 2015
* This may give the Fed an excuse to delay rate increase
* How can a strong dollar be good for America but a weak euro be good for Europe?
Our Sponsors:
* Check out DBJourney and use my code Schiff15 for a great deal: https://dbjourney.com
* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com
* Check out Plaud AI and use my code GOLD for a great deal: https://plaud.ai
* Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com
* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.com
Privacy & Opt-Out: https://redcircle.com/privacy
For the best experience, listen in Metacast app for iOS or Android