A few data points for you as you start your day:
"The Producer Price Index for Finished Goods rose 1.1 percent in December, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This advance followed increases of 0.8 percent in November and 0.4 percent in October and marks the sixth straight rise in finished goods prices. At the earlier stages of processing, prices received by manufacturers of intermediate goods moved up 1.0 percent, and the crude goods index increased 4.0 percent. On an unadjusted basis, prices for finished goods advanced 4.0 percent in 2010 after climbing 4.3 percent in 2009."
How can I describe this....Fugly???
"In the week ending Jan. 8, the advance figure for seasonally adjusted initial claims was 445,000, an increase of 35,000 from the previous week's revised figure of 410,000. The 4-week moving average was 416,500, an increase of 5,500 from the previous week's revised average of 411,000."
OK...So let me get thris straight: Prices are soaring and so are jobless claims. What a perfect combination.....NOT!
Stocks barely moved on the news. We shouldn't be surprised. Stocks are not allowed to go down anymore no matter what the news. Remember: Ben Bernanke has your back. Thanks to him, the market will ALWAYS go up no matter what the news.
Seriously folks, this is not going to end well. Please be careful with your investments.