– Stocks Close At Record High On Worst Jobs Nuimber Of 2014 (ZeroHedge, Sep 5, 2014):
Worst jobs data of the year? BTFATH. For the 9th day in a row, S&P 2,000 was all that mattered. Thanks to the standard Friday v-shaped recovery, the Dow scrambled back to green on the week and S&P 500 hit its Maginot ‘retirement on’ line – all on the back of USDJPY 105.00 pinning. Trannies and S&P hit new record highs and S&P had its best day in 2 weeks (led by exuberant growthy Staples & Utilities this week). Russell ended the week red as the late-day buying-panic sent Nasdaq just green with Dow and S&P. But, away from stocks, US Treasuries had their worst week in a year with 30Y +16bps (but 2Y only +2bps). The US dollar rose to new 14-month highs with its biggest week in 10 months. Despite the USD strength, Copper manage to close marginally higher even as PMs dropped 1.6% and oil plunged almost 3% (WTI under $93) in a very volatile week. High-yield credit markets closed with their worst week in the last 5. Bad news is great news still – just six years into the ‘recovery’.
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The market is rigged.
When more people are put out of work, the higher the profits (short term, but they think no other way).
They don’t care about the real economy, just greedy gut benefits.
Corporations have destroyed this country, and much of the world.
Rising profits on paper mean nothing.
I wonder, how much of the so called earnings pay only in US paper money?
When the dollar collapses, it won’t matter any more.