The Stock market bubble is certain to continue growing with the report of tax cut extensions for the wealthy. Why the top 2% wage earners want to continue to deny the government needed funds with all the debt the government has accumulated in funding two wars and a massive bailout is beyond me. What happened to love of country? Patriotism? It has given in to self-interest. But I digress…The Mays Report is about the stock market and economy, not politics.
Today we have reports being released throughout the day with the last report being consumer credit being released by the Federal Reserve at 3:00PM. B e careful out there, this market has thrown fundamentals out in favor of irrational exuberance. Sound Familiar?
Tuesday’s Economic Calendar
7:45 ICSC Retail Store Sales
8:55 Redbook Chain Store Sales
10:00 IBD/TIPP Economic Optimism
10:00 ISM Mfg. and Non-Mfg. Semiannual Reports
1:00 PM Results of $32B, 3-Year Note Auction
3:00 PM Consumer Credit
Posted in: Morning Coffee
Posted on December 7, 2010