Weekly Economics & Investment Recap: 2.1.08

February 3, 2008 |

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Attached/linked please find And That’s The Week That Was…the Brounes & Associates market/economic commentary for the week ended February 1, 2008.  Continued weakness in housing (no problem).  Plunging consumer confidence (why worry?).  Growing unemployment (so what).  Poor earnings (big deal).  Record write-downs (no biggee).  After all, Dr. Bernanke has our backs.  Apparently, these days, the Fed has the tonic for all that ails the country as the 50 bps move (in the immediate aftermath of the surprising 75 bps cut last week) brought out the “high fives” among investors.  These days, every time Dr. B. so much as sneezes, he makes national news and the markets react.  (If only the State of the Union would have garnered similar ratings.)   Well, a weak January has come to a close and investors can now move on with hopes for bigger and better things.  (Now, from a market perspective, who are we supposed to root for in the Super Bowl again?) 

Coming up in the week ahead:  Factory Orders (Monday), ISM – Services (Tuesday), Consumer Credit (Friday)

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