Thursday, July 2, 2009

Thursday Premarket

AlphaNinja - The market ignored weak job figures yesterday, but is selling off in the premarket due to today's weak job numbers...not that it has to make sense...S&P500 looks to open down 1.4%.

General Motors garage sale to include parking lots and a golf course...

Payrolls keep shrinking and the unemployment rate keeps rising - with our economy 70% dependant on consumer spending, be wary of anyone calling a bottom.

As multiple people have mentioned lately, bank earnings are backward looking, while their balance sheets are forward-looking.

The WSJ says carmakers "see an end to sales slide," then rattle off the gruesome figures...Chrsyler sales down 42% year-over-year, and the industry down 28%. No, not the bottom.

Did Morgan Stanley back off on risk-taking at the wrong time?

An important debate - how risky are California's municipal bonds?

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