May

17

 One is always amazed at the ephemeral announcements that move markets. Today there was a New York man report. That represents 1 /1000 of the economy and is seasonally adjusted beyond recognition. It dropped the market a 1/10 of a %.

For individual stocks, a recall of a 1000 units of a product that represents 1/10000% of sales of a company is newsworthy enough to drop it 1/4 %. I guess these announcements are necessary to add just one more % a day or so to what the public gives to the banks that make money every day on their trading.


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