Monday, July 23, 2012

Another Down Day

  • $$ - Today was another down day in the market. Reason du jour? Same old, same old. Yes, Spain. Yes, Greece. These were off the radar last week, right? US companies continue to beat (mostly), but the theme is slowing revenues and cost cutting.
  • McDonalds came out and disappointed, although some of that may be the currency exchange rate combined with slowing Euro economies. Yes, $MCD gets most of their revenues from Europe!
  • The market did reverse hard. Why? Somebody floated a rumor of QE3. Whoooosh higher! Maybe that fails to work someday. Or maybe not.
  • Cisco came in after the bell and announced another 1300 layoffs. That's 2% of their workforce, as $CSCO tries to cut costs.
  • Many other examples out there.
  • Two days in a row of down. Doesn't feel that bad.
  • $AAPL earnings tomorrow. That's the big one, right? Many others, too. But you know folks are watching Apple.

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