Friday, March 25, 2011
News before the open
Pre-open "color" from securities firm CL King:
S&P cuts Portugal’s debt rating from A- to BBB following failed austerity measuresGerman business confidence drops for the 1st time in 9 months, but still came in ahead of expectationsEuropean leaders do not make much headway with the euro-zone debt crisis, discussions continue regarding the bailout fund in the latest EU summit NATO has agreed to take command of Libya’s no-fly zone as targeted attacks continueNegotiations over a compromise in Yemen take a hit as the President and opposition leaders cannot come to an agreement over how soon the President should step downA suspected breach in the core of one reactor could lead to more serious radioactive contamination according to Japanese officialsUS 2010 4Q GDP reported at +3.1% vs. +3.0% consensus, +2.8% priorGDP Price Index reported at +0.4% vs. +0.4% expected, +0.4% priorCore PCE reported a +0.4% vs. +0.5% consensus, +0.5% priorPersonal Consumption reported at +4.0% vs. +4.1 expected, +4.1 priorDue at 9:55am – March Univ. of Michigan Consumer Confidence; 68.0 consensus, 68.2 prior
All of that is immaterial, because our President has such fantastic picks in the Final Four, which certainly will cause the stock market to rebound, the seas to stop rising, and the temperature to stabilize.
"our President has such fantastic picks in the Final Four"
Even I picked Kansas. Obama picked four # 1 seeds. Two are already gone.
*sigh* I knew I should have included my /sarc tag....
I picked Kansas beating UConn in the final, which could still happen. I got most everything else wrong because of my Big East bias.
Watch Kansas win, and Obama harrump, even though he too got most everything wrong.