- Wall Street spared blizzard only to be buried in bad earnings and bad economic news
- December durable goods down 3.4%; expected to come in at +.7
- Consumer confidence up to 102.9; contrarian indicator
- Last time consumers were this confident was in the middle of 2007
- Number will collapse when reality has a violent confrontation with perception
- P&G earnings down 31%
- Caterpillar warned
- Microsoft stock down 10% today
- UPS announced they overestimated holiday sales
- Businesses geared up for a recovery in late 2013 that was not going to happen
- Layoffs coming in 2015
- This may give the Fed an excuse to delay rate increase
- How can a strong dollar be good for America but a weak euro be good for Europe?
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