Bobbys Corner-Open Market-January.25.2012
Another choppy night of trading as Euro and GBP led the parade.
With better than expected German IFO data-the EUR/USD pair rose to the mid 1.30 range before falling back into the mid 1.29 range.
GBP did worse-as lower than expected Q4 GDP surprised the markets. With manufacturers cutting production, and the service sector stagnant-is the UK looking at a double-dip recession? The BOE will be assessing it’s QE program to see if additional stimulus will not only be needed-but will it do anything in reality-only time will tell.
Greece is still negotiating with private bond holders to work out new interest rates for a bond swap. The prospects are not looking rosy.
Apple Inc blew out Q4 earnings-expected earnings $10.16/share-real earnings $13.87/share. Apple is now the largest company in the world. They have jumped over Exxon/Mobil to take the #1 spot.
Last night President Obama gave his “State of the Union” speech. He called for higher taxes on the rich, and more government spending (I have no idea where this money will come from) for job creation. It was a very political and partisan speech-pitting Democrats and Republicans against each other. In my opinion-the fighting between parties has added to the problems in Washington.
This afternoon we have the statement from the FOMC-and a news conference By Chairman Bernanke.
HAVE A GREAT DAY & GOOD LUCK









No Responses to “Bobbys Corner-Open Market-January.25.2012”
Add a comment