Shares of mcdonalds fell 4. 5 after reporting weaker than expected earnings and revenues. The fast food giant also said Earnings Growth will be quote pressured going forward. Profits were up at General Electric, but revenues came in below analyst estimates and g. E. Also warned of a tough economic environment. The stock slid 3. 5 . Nervousness about the outlook for Technology Companies pulled down stocks. Microsoft and google, both reported disappointing earnings yesterday. By the closing bell, the dow lost 205 points or 1. 5 . The tech heavy nasdaq really got slammed down 67 points and, the s p 500 dropped 24. The problem is there doesnt seem to be any real tolerance for when a company misses. So, you can have decent bottom line growth, but if the revenue side is light or if the guidance even has a tinge of negativity to it, there doesnt seem to be any mercy, which simply probably tells us in a broad sense that stocks are to a large extent almost priced to perfection. Susie Corporate
Ceiling and when the automatic spending cuts come into play again, and either have to be replaced with other spending cuts, or again, kicked down the road. Reporter these are the same issues that snarled congress in the summer of 2011, and again during the fiscal cliff debate. Theres little hope for a better outcome this year. President obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. Right now, the u. S. Owes 16 trillion, but some calculate our total liabilities much higher. And as Congress Jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. 60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. Thats scary. And, the fact of the problem of 2 trillion solutions to 60 trillion problems, you see the occasion of the lack of pro
Shares of mcdonalds fell 4. 5 after reporting weaker than expected earnings and revenues. The fast food giant also said Earnings Growth will be quote pressured going forward. Profits were up at General Electric, but revenues came in below analyst estimates and g. E. Also warned of a tough economic environment. The stock slid 3. 5 . Nervousness about the outlook for Technology Companies pulled down stocks. Microsoft and google, both reported disappointing earnings yesterday. By the closing bell, the dow lost 205 points or 1. 5 . The tech heavy nasdaq really got slammed down 67 points and, the s p 500 dropped 24. The problem is there doesnt seem to be any real tolerance for when a company misses. So, you can have decent bottom line growth, but if the revenue side is light or if the guidance even has a tinge of negativity to it, there doesnt seem to be any mercy, which simply probably tells us in a broad sense that stocks are to a large extent almost priced to perfection. Susie Corporate
Niemira says only half of americans polled recently have finished their Holiday Shopping. The consumer is behind on their completion. That means we rely much more on the next few days for it to pick up dramatically. Reporter because of all the fiscal cliff doom and gloom, retailers are worried. And perhaps they should be. After all americans think their personal finances will take a hit next year. And that might mean fewer gifts under the tree. We believe that the post black friday lull that weve seen in the last three weeks that consumers are spending at a very restrained rate simply because they dont have the money and theres a little bit of a fear factor out there. Reporter but, there are those who say its wrong to credit the fiscal cliff for the lackluster Holiday Shopping season. More likely they think shoppers are playing a game of chicken with retailers, waiting for more stores to drop prices. If thats true, shoppers may be disappointed. Will retailers react to the softness weve
To compromise the Capital Position of the bank in any way. Reporter also today, ten major banks, including bank of america settled claims they abused the foreclosure system, seizing defaulted homes without proper paperwork. The banks agreed to fix those abuses two years ago, with a casebycase review of foreclosure practices. But that just wasnt moving fast enough, and proved too costly. Bring in todays deal the banks will pay a total of 8. 5 billion. Three billion of that will go to homeowners hurt by the banks; the rest, five billion to assistance programs like loan refinancing, for homeowners who are struggling. It helps current homeowners and its going to help the marketplace at the margin. You know, the con, if there is one, is the fact that well never, it will make it less likely now that well ever get a full accounting of the foreclosure irregularities that existed. And how widespread were they, what were the types of irregularities and what were the full dollar amounts. Reporter