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B4 The Bell Thursday September 9


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:D Welcome to B4 The Bell! :D

 

After being told by many economists last spring that higher oil prices won't dent the economy, well some of these same economists are changing their tune.? Still most are quite optimistic, despite many signs of a slowdown:

 

Sept. 9 (Bloomberg) -- Higher energy prices are prompting economists to reduce U.S. growth forecasts for the third and fourth quarters of 2004, a monthly Bloomberg News survey showed.

 

The world's largest economy will grow at a 3.7 percent annual rate from July through September, slower than the 3.9 percent estimated last month, according to the median of 61 forecasts. Economists have slashed a half percentage point from third-quarter forecasts over the past two months.

 

``We're already seeing the adverse impact of higher oil prices,'' said Kathleen Camilli, founder of Camilli Economics LLC in New York, in an interview. Economists are ``surprised by how much higher oil prices impacted consumer psychology and subsequently consumer spending.''

 

http://quote.bloomberg.com/apps/news?pid=1...efer=news_index

 

globex.png

nasdaq.png

 

Good trading! ;)

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Guest bullseatshitndie
Nokia boner underway

Always a reason to buy

nok about a 54% haircut from high to low this year. lowered guidance numerous times. how nice of them to finally low ball it enough to beat. so tired of these bs games

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Pathmark (PTMK) reports ($0.05) missing by $0.09

lowers Y04 guidance by 50%

Same store sales 1.3%

revenues rose 1.6% year/year to $1.01b

 

"Earnings were negatively affected by incremental costs associated with increased promotional spending as well as continued gross profit pressures from inflation in certain categories"

 

"... cites higher medical expenses and a weakening in consumer demand.."

 

When supermarkets are warning and have negative (inflation adjusted) sales a recession has taken firm roots. I don't think these issues are unique to PMTK as Albertsons has been saying the same things for 6mos.

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Guest bullseatshitndie
How can these commentators allow the disinformation???

they are the incubator of disinformation. just like the govt, they are in biz to serve up lies

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