"The US economy has crashed and gone into freefall"

[PM-Junkie]

The DOW closed up 3% and the NASDAQ up over 4% on Friday, in spite of all this. What gives?

Insurers made big late gains (metlife and prudential up 22% and 35% respectively) on the back of expectations that financial regulations will be relaxed next week. That plus the S&P retail index was up 6% on the week, which is supposed to indicate that traders reckon that the November sales figures in the US were "not as bad as they could have been".

When the markets stop falling off a cliff everytime there is bad news, take that as a sign that we've reached the bottom. Absolutely no sign of that yet though....

[d000hg]

The DOW closed up 3% and the NASDAQ up over 4% on Friday, in spite of all this. What gives?

[Doggy Styles]

"The US economy has crashed and gone into freefall"

It cannot have gone into freefall if it has already crashed.

[mrdonuts]

In the past six months the US has lost 1.55 million jobs, almost as many as were lost in the whole 2001 recession

Ian Shepherdson, High Frequency Economics


errr how long was the 2001 recession (8 months) sounds like a bit of scaremongering

[TimberWolf]

It's more a case of too many people rather than not enough jobs.

[ratewhore]

At least the jobless in Miami have the weather to cheer them up a bit.

Beats being on the dole in Rotherham.

I think the difference in the local women will have an effect as well.

[Cheshire Cat]

Uber-doomed.
http://news.bbc.co.uk/1/hi/business/7767326.stm

At least the jobless in Miami have the weather to cheer them up a bit.

Beats being on the dole in Rotherham.

[sasguru]

Uber-doomed.
http://news.bbc.co.uk/1/hi/business/7767326.stm