Thursday, September 10, 2009

Before the Fall

Sorry, if you're looking for a post about football or the weather, you've come to the wrong blog. I have no idea idea what to make of the stock market, but early indications point to a possible sell off today. Notice that neither article mentions Obama's health care speech. I wonder if the talking heads on CNBC look at the website of their own network.

Since those links probably won't work in a few weeks, item 1:
US stock index futures turned negative on Thursday on a range of comments from officials highlighting the fragility of the recovery.

Chinese Prime Minister Wen Jiabao said there are many uncertainties in the outlook for the global economy and that the foundations of China's recovery are not stable.

Meanwhile, European Central Bank's Axel Weber said banks should increase their capital buffers now.

item 2:
North American companies are flocking to sell shares this week, signaling to some investors the U.S. stock market may be close to sputtering after a long rally.
September is on pace to be the busiest month for secondary issuance since May, which to some portfolio managers is a sign companies are taking advantage of the market while they still can.

BTW: Unless I misunderstood Charles Boustany, Republicans no longer believe there's a need to control Medicare costs. Somewhere Peter Peterson is weeping. Bonus link and a general recommendation to add Angry Bear to your normal blog reading, if that blog's not already on your radar.

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