STOCKS ARE OFF TO A RAGGED START ON MIXED ECONOMIC NUMBERS HERE AT HOME AND WORRIES ABOUT INFLATION AND HIGHER RATES IN CHINA. THE MARKET PULLING BACK MODESTLY WHILE OIL MOVES OFF A TWO-MONTH HIGH AND GOLD CONTINUES ITS RETREAT ... THREATENING TO SLIP BACK BELOW 11 HUNDRED DOLLARS AN OUNCE ON A STEADY DOLLAR AND RISING INTEREST RATES.
THE MARKET SHRUGGED OFF A DROP IN WEEKLY JOBLESS CLAIMS WHILE THE TRADE DEFICIT DECLINED IN THE LATEST MONTH. CHINA'S INFLATION RATE IS PICKING UP LEADING TO SPECULATION THAT CHINA WILL SOON RAISE RATES TO COOL THE ECONOMY AMID A HOUSING BUBBLE THAT CONTINUES TO GROW. MEANWHILE ... HERE AT HOME ... FORECLOSURES ROSE AT THE SLOWEST PACE IN FOUR YEARS IN FEBRUARY ... AS GOVERNMENT EFFORTS TO FORESTALL FORECLOSURES BEGAN TAKING EFFECT.
IN WASHINGTON ... SENATOR CHRIS DODD SAYS HE WILL BRING A FINANCIAL MARKETS REFORM BILL TO THE SENATE FLOOR NEXT WEEK ... WITHOUT REPUBLICAN SUPPORT. THAT MAY BE HAVING A CHILLING EFFECT ON STOCK IN THE EARLY GOING TODAY.
THE MARKET ALSO SIZING UP WHETHER OR NOT DEMOCRATS HAVE ENOUGH VOTES TO PASS HEALTHCARE REFORM WITH A PARTY LINE VOTE ... THE PRESIDENT CALLING FOR AN UP OR DOWN VOTE BY MARCH 18TH. |
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