Doublebarrel washington shotgun of a Government Shutdown and a debt ceiling crisis . Really, how were we down so little . The given that our precedent was on earlier this evening talking about the federal workers who will go out pay and how we are entering a height of irresponsibility moment for the federal government. The house of pain lets ponder. Lets ponder while were barely down, believe me, 0. 6 on the s p barely down. Nasdaq down a quarter after being up 25 for the year after coming into the session, thats barely a selloff at all. First we have to wonder whether there was something mechanical today. It was the last day of the quarter. I told you endlessly that the big mutual funds like to show you theyre right about the market by owning the biggest earner. They dont tell you when they bought it you have the assume theyre brilliant, clairvoyant even. Hedge funds like to stand underneath. Meaning theyre bidding below the market. This happens. They dont like to give up the ground t
Those two tenets define the session today. Nasdaq losing 5 pot 07 . The reminder that you have to heed the market unless, of course, youre willing to take a beating and may i say its a needless beating that you can sidestep if you simply listen to the footsteps of the thundering herd. What were todays footsteps . For starters, lets respect the fact that once against our domestic oil and gas stocks, of which i am the only one who keeps talking about it, just wont quit buy buy buy, buy buy buy, buy buy buy, buy buy buy. Many of seem to want to know when im going to drop my obsession with these stocks or something. The answer is perhaps when they start making you money . What caused them to go geren . Fist new data from the permian basin. Showing that once again theres going to be a giant guide up in the amount of Recoverable Oil coming from that oldtime basin. New pipeline coming in to relieve the gluttonous sprayberry field which pioneer says is the second biggest field on earth. And th
Open ahead of the fed even after turkeys surprise Interest Rate hike did help to stem some concerns related to emerging markets. Boeing, jetblue, dow chemical and at t beat expectations well break them down. But yahoo shares under pressure this morning after reporting a drop in revenue for a fourth consecutive quarter due to a decline in display ad prices. A day after the dow snapped a fivesession losing streak futures are lower, investors turning their attention toward Ben Bernankes final policy meeting, the central bank expected to further pare back stimulus, but turkey, jim, at least for the open will be the story. And for a while there the turkish lira was up 3 and it looked like they impressed the market. 22 years ago we went through the cycle but thats too long for most people. They tried to stem the capital decline, i saw it last night, they forgot what happened to their country when they tried to do this. And what happened initially you thought things would stabilize and they d
Herself, how she can help her husband, take care for family, maker contribution to our nation utahs republican governor gary herbert says his Health Insurance exchange will not and force the mandate as the new Health Care Law but focus on Small Business. He told an audience at the Enterprise Institute that after meeting with Health Secretary Kathleen Sebelius he felt optimistic that his states plans will improve. His comments on how states can deal with the Affordable Care act are an hour. Good afternoon everyone. Welcome to the american Enterprise Institute. I am tom miller. Todays forum barcott baster from an age of obamacare or as i referred to the statebased policy reform under the Affordable Care act and Health Exchanges will it be a choice or natco . We have governor gary herbert to speak today about his experience in the state of utah. As some of you know utah pioneered its own Health Exchange. We are doing different names for these things these days and even before the Affordab