Who knows what will trigger Fed intervention; that information is asymmetric, i.e. only known to Fed insiders. Mentally I’m feeling OK. We are strongly coming off of the recent oversold reading for the major stock indices. However that doesn’t mean that the market will be going straight up as it did off of the late September lows. Volume means interest and the price has stayed up. Gold broke the key level of $1180 today as the futures were off $15. There are a lot of theories on why the market crashed, but in most accounts the same facts remain.
And just so this all makes sense lets say you live in a mansion and there’s 100 people that come in and out of the house all the time (play along trust me it will all make sense by the end). Wall Street convinced everyone to put their money into the Stock Market by pushing stock prices way beyond the actual worth of the company, and talking up all the average Joe’s who had hit it big in the market. After J.P. and his buddies made a good amount of money, mysteriously the market crashed and stocks fell deep!
Unemployment is at an all time high and import hasn’t slowed down a bit, but export has. Drug companies ingeniously market pharmaceuticals that do us little good, and sometimes are downright dangerous. It thereby explains a paradox: why, at a time when we are better off than ever before in history, all too many of us are leading lives of quiet desperation. The PCE price index is considered by analysts as the Fed’s preferred inflation measure, as the central bank considers raising rates for the first time in nearly a decade.
Meanwhile, the number of people who applied for U.S. unemployment benefits fell by 12,000 to 260,000 in the week before Thanksgiving, indicating that the labor market is continuing its steady path to recovery. Wednesday’s data keep the Fed on track to raise rates in December, particularly as they offer a strong gauge of the employment situation, which means we could see a 200,000 job gain in November’s jobs report next week,” said Douglas Coté, chief market strategist at Voya Investment Management.
Gold prices GCF6, +0.35% were off 0.3%, while oil futures CLF6, +0.42% pared earlier losses and ended modestly higher. Last % change is the nominal change in the price of the index from the previous trading day’s close expressed as a percentage as of the index value at the time noted in the Date & Time field. Meanwhile Netflix is worth $49 billion — roughly the equivalent of Poland’s market.