With Hurricane Irene barreling towards the US Eastern Seaboard, the Fast traders turned their attention to the stormy weather and how to trade it.
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I was talking with one of the traders at the NYSE Commissary this morning, and we agreed that last year's fourth quarter was like dying by being thrown out of a plane: it was terrifying and exhilarating at the same time. This year is like dying of consumption.
Futures dropped as jobless claims were a bit higher than expected, and the Consumer Price Index was higher than expected on both the headline number and core (ex-food and energy).
It's a booyah-free zone. There goes Swifty!
The outlook came as the Milwaukee, Wis.-based company reported a first-half loss of $23.9 million, or 48 cents a share, compared with a profit of $26.5 million, or 51 cents a share, in the first half of the previous year. First-half sales fell to $761.3 million from $1.1 billion.