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Politics Barack Obama

  • JPMorgan moves S&P futures up 3 points, then got an additional modest boost as March Retail Sales came in better than expected. Just a few days into earnings season, it's 3-1 in favor of the bulls: that's three positive reports from Intel, CSX and JPMorgan, and a disappointment from Alcoa. Also: Goodbye, fertilizer profit?

  • After the close, a couple of companies gave signals that the sluggish U.S. economy is slowly recovering.

  • What's up with Real Estate Investment Trusts (REITs)? The MSCI Reit Index is up another 2.7 percent to another new high, far outperforming other sectors.

  • On the eve of earnings season, the Street is focusing on two sectors. Transports and big banks are two of the biggest gainers year to date, up 10 percent and 30 percent, respectively.

  • In the spirit of tax week, here's a terrific video hosted by my old friend Dan Mitchell showing how a flat tax would benefit American families and businesses.

  • Holy cow, volume is picking up, Bob! Something's happening! Calm down. It's true, today's consolidated volume on the NYSE is now over 3 billion shares, stronger than it has been recently.

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    The number of new tax laws in recent years has been staggering. In 2009 alone, the American Recovery and Reinvestment Act added hundreds of new provisions and changed many existing laws...And we haven't even begun to mention tax law changes affecting businesses.

  • US Debt Clock

    The government’s surging deficit can be cut, easy. Getting it done? Almost impossible. Economic recovery and the end to stimulus spending will do the heavy lifting in Treasury's plan to slash the deficit.

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    Tomorrow, President Obama appropriately pivots from nuclear terrorism to financial regulatory reform. The President set a deadline date for this bill to come to the floor and be finished by Memorial Day.

  • Yuan

    Even as China’s leaders appear to have reached a consensus that the nation’s currency policy must change, the timing of any shift has been complicated by surging nationalism, a media frenzy in China over the issue and visits by top officials on each side to Beijing and Washington in recent days. The NYT reports.

  • Greece did get off its 6-month and one-year bill auction. The auction was well oversubscribed, but as expected they paid a high yield, of 4.55 percent and 4.85 for the 6 and 12 month respectively. The yield on the 6-month was 1.38 percent in the January auction.

  • If you're looking for turnaround in aluminum demand, you didn't hear it from Alcoa, other than a feeble comment that demand is "gradually improving."

  • UBS announcing that earnings will be better than expected helping big U.S. banks. The biggest catalyst appears to be significant improvement in fixed income trading; we can assume that big U.S. banks will also have large gains from fixed income trading.

  • Thomas Hoenig

    I want a different regime. I’m calling it cowboy monetarism. What do I mean by that? I want Wall Street to be scared to death of the Federal Reserve. I don’t want them lying around in bed with the Fed — I want them running scared.  

  • President Barack Obama

    Sometimes you have to take out your political lenses and look at the actual statistics to get a true picture of the health of the American economy. Right now, those statistics are saying a modest cyclical rebound following a very deep downturn could actually be turning into a full-fledged, V-shaped, recovery boom between now and year-end.

  • While Europe initially rallied on the Greek aid package (a 30 billion euro loan package at roughly 5 percent for 3 yrs, plus an additional 15 billion euros from the IMF if needed), most European markets are unchanged as we approach the open of the U.S. Greece will come to market with a 1.2 billion euro offering 0f 6 to 12 month bills tomorrow.

  • Financial Crisis

    A committee of economists, charged with determining the official turning points in the nation’s business cycles, certifies the beginnings and ends of recessions. But this time, the evidence is not so easy to decipher, The New York Times reports.

  • ...Is fear itself. Fear may be the single biggest obstacle holding back this stock market from the rise it truly deserves.

  • Paul Volker

    He may very well be the greatest central banker of all time. But with all due respect, Volcker’s call this week for a European-style VAT (as well as a carbon tax) is itself a historic mistake.

  • One of the largest health care service companies is set to file a multi-billion dollar initial public offering.