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April 12, 2005
Trade Debacle!, Tues., April 12, 2005, 8:31 AM
The U.S. Trade Deficit for February has just this minute been reported at $61 billion, up from $59.4 billion. It's a record. USD is falling, and can't get up. With crude oil pushing $58, did anybody expect any better?
This afternoon we get the U.S. Treasury budget deficit number and the FOMC detailed notes. We also get to watch AIG's Hank Greenberg plead the fifth (what else can the man do if people are gunning for him?)
And Verizon (NYSE: VZ) shareholders are going to show what can happen to share prices when an unwanted deal ($7.6 billion acquisition of MCI) goes forward.
Could be an interesting day!
Posted by Posted by Bill Cara on April 12, 2005 08:27:20 AM | Category: 25 Cons Discretionary
I'd have thought that gold and gold miners would be doing well today, given the deficit news. What gives? Is this a case of "bad news baked in" the dollar?
Posted by: Kaushik at April 12, 2005 12:22 PM [link]