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June 10, 2011

No Place To Hide: "Unexpected" Inflation Signal And Continued Weak Readings on Economy Drive DOW Under 12,000

Doom. The other white meat.

Investors were dour after U.S. May import prices showed a surprise gain of 0.2%, hinting at an inflation push coming into the U.S. from abroad...
The action follows a string of weak readings on the U.S. economy that have joined with pessimism about the euro zone's debt problems and weaker global growth to drive major stock indexes lower. The mood on the trading floor was grim.

"At the moment there doesn't seem to be any place to hide," said Ted Weisberg, president of Seaport Securities. "Best-case scenario, [traders] don't know what to do. Worst case, they're simply throwing in the towel because they're frustrated. Nothing seems to work."

Nothing that's been tried seems to work, no.

posted by Ace at 12:15 PM

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The action follows a string of weak readings on the U.S. economy that have joined with pessimism about the euro zone's debt problems and weaker global growth to drive major stock indexes lower. The mood on the trading floor was grim. "At the moment there doesn't seem to be any place to hide," said Ted Weisberg, president of Seaport Securities. "Best-case scenario, [traders] don't know what to do. Worst case, they're simply throwing in the towel because they're frustrated. Nothing seems to work." Nothing that's been tried seems to work, no. posted by Ace at 12:15 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments [/i][/b]andycanuck (hovnC)[/s][/u]: "Maral Salmassi @MaralSalmassi Despite claims made ..." jimmymcnulty: "Are Australian pizzas served upside down. Asking ..." Viggo Tarasov: "Hey, that tweezer thing can really pluck someone u ..." Eromero: "322 German police valiantly confiscating a Swiss A ..." Anna Puma: "BOLO Rowdy the kangaroo has jumped his fence an ..." fd: "You can't leave Islam. 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