Unemployment rate looks bad, and for sure it will continue to climb, but technically, based on the previous 10 times stock market crash history, stock market reach the bottom 9 months ahead unemployment rate reach its peak. If unemployment will reach its peak between 9% to 10% in 2010, then one should likely expect stock market will touch the ground somewhere between now and 2Q09.
Who knows about the future? None!! But who holds the future? Once again we realized that HE is GOD and there is only one GOD - Jesus Christ, who we can put our trust on in anytime , anywhere.
That why Warren Buffett describe today's economy in 2008 Berkshire Hathaway's annual letter to shareholders:
"For God we trust, all others pay cash."
Economic Data:
- US Feb unemployment rate up to 8.1% (worse than expect, 7.9%) prior 7.6%
- US Feb Non-farm job pos cut 651k (same, cut 650k), prior cut 655k. YTD has already lost 1.3M jobs;
- US initial jobless claim down to 639k, (better, 650k), prior 670k;
- US Jan personal income up 0.4% (better, -0.2%), prior -0.2%;
- US Jan pending home sales down 7.7% (worse, down 3.5%), prior up 4.8%. It may due to potential buyers/sellers all pending their trade on Obama's economy plan which published & finalized on the end of Feb;
- US Feb ISM index flat at 35.8 (better, 33.8), prior 35.6;
- US Feb Auto & Truck sales still do not look good at 2.9M & 3.5M, prior 2.9M & 4.0M;
No comments:
Post a Comment