Yesterday, the economic data suggested stronger-than-expected improvement in both jobs and manufacturing. That should have been good for at least a hundread points on the Dow, and it was! But then, Angela Merkel made a few despondent comments, and the Dow lost over half its gains.
It just reinforces my belief that the U.S. economy is doing better than realized, but the U.S. stock market is being "hammered" by Europe. Solve Europe, and the U.S. stock market will roar.
The Dow looks like it will open up about 80 points this morning, but we are seeing very light trading volumes, which means an up market could turn into a down market in a matter of minutes. We will not see any meaningful volumes until the holiday season is over . . . or there is a crisis.
But, don't expect anything to happen in Europe anytime soon, as they are busy throwing holiday parties on the deck of the Titanic. For decades, Americans have coveted the overly-generous vacation schedules in Europe, but our stock market is now paying a price for them to "rest". Maybe, we should just declare Christmas over and celebrate New Year's Eve early??
It just reinforces my belief that the U.S. economy is doing better than realized, but the U.S. stock market is being "hammered" by Europe. Solve Europe, and the U.S. stock market will roar.
The Dow looks like it will open up about 80 points this morning, but we are seeing very light trading volumes, which means an up market could turn into a down market in a matter of minutes. We will not see any meaningful volumes until the holiday season is over . . . or there is a crisis.
But, don't expect anything to happen in Europe anytime soon, as they are busy throwing holiday parties on the deck of the Titanic. For decades, Americans have coveted the overly-generous vacation schedules in Europe, but our stock market is now paying a price for them to "rest". Maybe, we should just declare Christmas over and celebrate New Year's Eve early??
