Today is positivity day at The Big Picture!
Last night on the show, Kudlow said the site was "the best financial blog on the internet, but it made him want to reach for hanky it so depressing." So today will be nothing but positive news, all day, all the time!
Here’s a few headlines:
• Crude oil fell $2.77 to $61.51 a barrel, the biggest one-day drop since August 2005.
• The consumer continues to shop — since ~70% of GDP is consumer spendign related, this is good for the economy.
• On Friday, BLS revealed that Unemployment fell to 4.4%; Wages improved.
• The Fed model — a measure of stock valuation using earnings yield versus the
30 year10 year yield, shows that stocks are approximatelty 20-40% undervalued.
• Earnings season kicks off this week, and this is expected to be the 20th consecutive quarter of positive earnings growth.
• US equity Markets are higher than they were 6 months, 1 year and 5 years ago. The 50 and 200 day moving av erages are positively sloped.
• M&A, share buybacks, and private equity deals continue unabated.
• The Housing market has not caused a collapse in the economy or the stock markets
• Senator John McCain says the surge appears to be working!
And look at this: the weather forecast for today: Mostly sunny, with a high near 50.