“Muted economic reports didn’t stand in the way of Tuesday’s stock gains,” Chris Dieterich and Tomi Kilgore report for The Wall Street Journal.
“Before the opening bell, data showed U.S. home construction fell 5.8% in March, its second straight monthly decline. The reading was well below expectations for a 0.7% increase,” Dieterich and Kilgore report. “Meanwhile, the number of new housing permits rose 4.5% last month, reaching their highest level since September 2008. Economists had forecast a modest decline.”
“Separately, industrial production was flat for the second month in March while capacity utilization slipped from February, month, signals that key engine of the U.S. economy is stalling,” Dieterich and Kilgore report. “‘The reason the market doesn’t care is that they are obviously focusing on Spain,’ said Anthony Chan, chief economist at J.P. Morgan Private Wealth Management. Spain sold more debt that it had planned on Tuesday, a sign of healthy demand.”
Dieterich and Kilgore report, “Technology-sector stocks led all 10 of the S&P 500’s groups higher. Apple snapped a five-session streak of declines that saw the world’s largest company shed more than $50 billion in market capitalization.”
Read more in the full article here.
Zombie Banks, Zombie Fed & Treasury, Zombie States, Zombie Cities & Counties. Massive personal debt.
Debt everywhere and a rapidly devaluating currency.
Is it any wonder?
Dont forget flat wages for thirty years.
Zombie President
^
That was Reagan.
That was Alzheimer’s.
Don’t quite get the Apple angle.
I don’t get it either! Doesn’t Apple know that making a butt load of money is so pre 2008 when we were enlighten that wealth needed to be shared.
Instead Apple has been plying the Romney model… Making money and not ashamed of it.
Not what I’m getting at. Apple’s revenues are now increasingly international. Any shortfall in revenue due to US economic weakness will more than be made up by the increased value of international sales being converted back into a weakened US Dollar. Therefore Apple is becoming more and more insulated from fluctuations in the domestic economy as time goes by, and may already have reached that point.
Hence, as this is an Apple-focussed website, I don’t get how corrections in the US economy have any relevance to this site’s stated focus. MDN isn’t Bloomberg, so why is this thread here?
Because MDN loves stirring the political debates to get page hits/reloads, and economic posts seem to be good at getting the partisans here stirred up. I can’t think of any other reason.
Apple stores in Spain are crowded, despite Depression unemployment. Gotta have that iPhone!
Clueless. People will not buy an iPad or iPhone because they can’t buy a house, car, yacht, vacation around the world, … An iPad is a $400 to $800 purchase. Maybe because people are buying the really big crap they can treat their loved ones to an Apple device. Do you think someone is going to pick a RIMM Blackberry when their contract ends this year?
Clueless.
The nightmare will soon be over.
Romney-Rubio 2012.
As a recent convert (see an earlier thread) I’m betting it will be Romney-Bachmann. Contrary to some thoughts on Rubio, he’s not well-liked or respected in the mainstream Hispanic community because his Cuban heritage is supposedly not “hispanic” enough for those of Mexican and Central American heritage. Not my opinion, just relaying what I’ve read.
How’s that Hopey Changey thing working out for ya?™
Hang tight folks…only a few more months and the Obama insanity will be over…
Oh God how I hope so. We need a president who understands macro economics. Come on Mitt…
I must admit I was wrong; the article does mention Apple. But in my defense, normally you quote the sections that refer to Apple. If I hadn’t gone to the article itself, I wouldn’t have found the mention at all. And what you quoted didn’t make me inclined to do so, since it seemed utterly unrelated to Apple.
Obviously I wasn’t the only one who noticed this.
This makes sense not-at-all: Apple is one of the few companies to THRIVE during the ongoing worldwide economic depression created by our Corporate Oligarchy Overlords and the Stupid Rich. So, let’s dump Apple stock.
Meanwhile, the foundation of the worldwide economy before the Neo-Con-Jobs managed to tank it, real estate, has not yet hit bottom. Once the world gets real about the drastic inflation of real estate prices before the crash, THEN the world economy can grow again with something approaching confidence. Until then, it’s all wishful thinking.
The housing market was primariky killed by the Community Reinvestment Act (CRA), government quotas forced on lenders, Barney Frank, and Chris Dodd. Neocon-jobs as you call them had little to do with it.
I don’t care about your political biases but I do care about the truth. Get educated before spouting off Occupy Wallstreet nonsense. Start by reading Thomas Sowell’s book The Housing Boom and Bust
The housing market was primariky killed by the Community Reinvestment Act (CRA), government quotas forced on lenders, Barney Frank, and Chris Dodd.
The stupidity of CRA is a great point. But in no way can you point to the dopey government as CREATING the real estate catastrophe. It was ongoing for 20 years. I’ve watched its lunacy first hand whereby Stupid Rich (my term) Neo-Con-Job sucker investors have thrown money at iffy real estate, refusing to invest in its upkeep, with the expectation of flipping it a couple years later for a nice profit. That is plain old dumbass, parasitic investing that denigrates real property value. Of course the bottom fell out after market abuse.
And please cut your own loony rhetoric. I’ve been ranting about the inevitable fall of real estate value for over 10 years with no reference to the 99%/Occupy revolution.
I will, however, check out Thomas Sowell’s book. Thank you for the reference! In our dumbed down contemporary culture, very few people have enough knowledge to even offer a reference.