Ridiculous Economic And Stock Market Headlines
I get quite a kick out of reading the headlines from the schizophrenic financial media. Most days it appears that whoever is assigned to write some of these jewels doesn't have a clue about the stock market or economics. Reading the daily headlines would make one think that we all sit around with bated breath waiting for some slight bit of economic news before placing our hard earned money into the market.
Here are just a few headlines over the last couple of days, with my commentary, that will prove my point that the financial media doesn't have a clue about the economic trends and they're probably better off ignoring. Read on...
August 17th -
STXNEWS LATAM-Mexican stocks rise on US output, inflation data
Oh yea, Mexico is always watching us with bated breath as well. There are plenty of problems in Mexico that probably affect the stock market, I don't think they're sitting around looking at our economic figures for the most part.
Wal-Mart, Home Depot lift retail sector
Great, Wal Mart and Home Depot all of a sudden made all retail stock much more valuable. Just because investors may react to news such as this, it doesn't mean that the retail sector is just like magic, doing better. People have to buy stuff and companies have to earn a profit to make them more valuable.
Stocks gain on Wal-Mart profits, deal talk
Well, well, Wal Mart did better than lift the retail sector, it seems as if their profits boosted the entire stock market. How do you suppose that happened. Has Wal Mart been going to the gym again?
August 18th -
Stock futures gain as Target posts profit
Target is getting in on the action as well. Apparently they now control the futures market.
But just 3 hours later...
Indications: Stock futures flat as bid for Potash goes hostile
What? What happened to Target lifting futures? I guess since it was morning they hadn't fully woken up yet. Maybe they should get a Starbucks in the lobby of more of their stores. A little cup of joe might help futures next time?
Then 3 more hours later...
Indications: Stock futures gain as Target posts profit
Futures have been on a wild ride and it's only 9:30 in the morning. Pay attention to these ridiculous headlines and you won't know whether Target is coming or going. Maybe Target should paint all their stores black as opposed to "being in the red" since they are responsible for all this good economic news.
Retail stocks edge lower; Target, BJ's fall
See the nature of the schizophrenic financial media? Apparently investors didn't pay attention to Target's profits. In a normal world, profits would be good, but when it comes to stocks just flip a coin and you'd probably do better than most financial analysts and reporters.
Corrections: Stock futures gain as Target posts profit
Wait, here we go again. Futures are up once again thanks to the almighty Target.
Stocks Pare Losses; Exxon, Chevron Fall
Oh no, we're falling.
But just 6 minutes later we read this headline:
US STOCKS SNAPSHOT-Wall St gains ground on consumer shares
All is well again.
This compilation is brought to you courtesy of the buffoons at Yahoo Finance. Honestly, if you are an investor, why are you even reading the financial news headlines? As I write this there is about an hour left in the trading day. Have fun!
