From the category archives:
I’m Dreaming of a Blue Christmas … Source: Calculatedrisk.blogspot.com
From the LA Times… Retailers cutting back on holiday hiring
A recent survey of more than 1,000 managers responsible for hiring hourly workers found that each manager planned on hiring an average of 3.7 seasonal employees this year, roughly 33% less than the 5.6 [...]
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According to a story in Bloomberg …
Barrick Gold Corp. Chairman Peter Munk said bullion prices will go higher, driven by large-scale buying by “major, major” holders of dollars who fear the effects of the U.S. government’s bailout plan on the currency. Central banks or sovereign wealth funds are among those likely [...]
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Dr. Jeff Masters gives us the latest on monster hurricane Ike …
Ike’s long-term fate has two main possibilities:
1) Ike may hit eastern Cuba, as forecast by the latest (12Z, 8am EDT) runs of the GFDL and ECMWF models, and a number of ensemble members of the latest 12Z GFS model (Figure [...]
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Hurricane Ike went from a tropical storm to a category 4 monster storm in a matter of hours. You can officially start freaking out now. Here is some other news …
ENERGY
Crude Oil Rises as Hurricane Ike Strengthens in Atlantic, Dollar Declines Crude oil rose for the first time in five days [...]
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Waiting for Gustav Hurricane Gustav grew stronger as it moved on a path projected to take it over Haiti on Tuesday and just south of Cuba on Wednesday, according to the National Hurricane Center. Forecasters say they believe Gustav will strengthen into a “major hurricane” and move into the central Gulf of [...]
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Labor Day is around the corner, so we can expect low volume. That should lead to more volatility this week — up, down or both — but it may not count for much in the long term. This is a good week for watching and waiting. [...]
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Chart for the day … How do you like that trend?
In other news …
Astounding! Joe Kernan is sucking up to Erik Prince of Blackwater on CNBC this morning. Maybe next, Joe will interview Satan and lead off by saying: “Why are those holier-than-thou types so hard on you? You’re just doing your [...]
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It’s a quiet morning in the markets so far. The energy markets are flat to slightly positive as the world waits for Iran to respond to an offer by major powers on its nuclear program.
By our standards, Iran would have to be crazy to turn the deal down. But Iran doesn’t run according [...]
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Sorry this is late today, but it’s a crazy day.
To expand on my comments from Friday a bit, the pullback in commodities continued last week. While we could see a rally this week, we have now seen both oil and the CCI Index break important support. I expect oil will pull back to [...]
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Yesterday, the U.S. dollar rallied hard and gold tumbled. That fall in the yellow metal looks to continue today. Clearly, my short-term outlook for gold –which had been bullish — is subject to change.
Looking at the charts, you can see that the dollar is now back ABOVE former overhead resistance …
While [...]
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