This is my last column of 2010. Just because you won’t hear from me until next year, though, don’t think I will be changing my tune about the economy or the market. I am still bullish on both for 2011, at least for the first quarter or so. Here are some news excerpts that keep me eyeing a solid new year coming up. So, Happy New Year to you all …
Republicans Won’t Kill The Economic Recovery
“We are not interested in pulling the plug immediately on Fannie and Freddie,” says Rep. Randy Neugebauer (R) of Texas, the incoming chair of the Oversight and Investigations Subcommittee of the House Finance Committee. “We need a more measured approach that will faze them out over a period of time, given the impact on the markets.”
Businesses Will Begin Hiring Again
Initial claims for state unemployment benefits fell 34,000 to a seasonally adjusted 388,000, the lowest reading since early July 2008. That was well below economists’ expectations for 415,000.
China Will Engineer A Soft Landing
BEIJING (Reuters) – Chinese inflation showed signs of cresting in a manufacturing survey on Thursday, an early indication that the government will be able to stick to its course of gradual rather than aggressive monetary tightening.
The Housing Market Will Stabilize
NEW YORK (AP) — The number of people who signed contracts to buy homes rose in November, the fourth increase since contract signings hit a low in June. The National Association of Realtors says its index of sales agreements for previously occupied homes increased 3.5 percent last month from a downwardly revised reading in October.
A Weak U.S. Dollar And A Stronger Yuan Will Create American Jobs
The dollar fell on expectations of further money printing in 2011 by the U.S. Federal Reserve … An easing of price pressures could also cap this week’s jump in the yuan to a record high against the dollar, which the central bank said had played an important role in taming inflation.
Investors Will Take On More Risk
LONDON (Reuters) – World stocks approached their highest level since September 2008 Thursday on optimism about global growth next year.
Trade in the day; invest in your life …
