Stocks Rise on Unemployment Decline (Bloomberg)
Stocks rose today, as the European Central Bank cut its key interest rate and American jobless claims unexpectedly fell. “The key thing that you need to make people feel OK is to simply add jobs and ideally lower the unemployment rate,” Ethan Anderson, senior portfolio manager for Rehmann Financial in Grand Rapids, Michigan, said. “It’s looking like the goldilocks type of scenario where the economy grows, but not too fast for the Fed to stop helping, but not too slow to impede earnings growth.”
Clothing Left Behind in U.S. Manufacturing Rebound (CNBC)
While many companies are moving manufacturing back to the United States, clothing retailers tend to be leaving production to much cheaper factories abroad. “We’ve been totally trained to buy it cheaper. It’s a challenge for the designers and the makers out there,” said Erica Wolf, executive director of Save the Garment Center, a campaign aimed at preserving New York City’s midtown Manhattan garment district. Pricing is “always going to be an issue, especially when it’s a mass-market retailer.”
European Central Bank Cuts Interest Rates (Reuters)
Falling in line with expectations, the European Central Bank (ECB) today cut interest rates for the first time in almost a year. The ECB left open possible future cuts to further stimulate the euro zone. “There was a very, very strong prevailing consensus towards an interest rate cut,” said ECB President Mario Draghi of the move.
“The solutions to our problems are found in business, outside of government.” -- Tony Blair, 2013 Milken Conference
Since the 1970s, I’ve been a big fan of attending conferences as a great way to learn, network, socialize and enjoy a new environment. It’s always refreshing to get out and see a whole new world. I also use these opportunities to find new ways to improve my own conferences that I’ve been doing since the 1980s (Financial Privacy Seminar in Beverly Hills, the Global Summ
Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
financial journalist, and money manager. As well as a book author and regular contributor to
numerous investment websites, Jim is the editor of:
Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.
Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services: