S&P 500 Opens In The Red For 2015 - Why 2058.90 Is The Most Important Number In The World

The S&P 500 closed 2014 at 2058.90 and is currently trading below that level as the market opens. For the sake of faith in The Fed's "control" and trust in central planners ability to do "whatever it takes," it appears NYFed better "get back to work" soon to save the world.

 

 

Never mind that almost everything else is lower for 2015.

Yellen, You Have A Problem: The "Rate Hike Corridor" Just Broke

One week before the Fed hiked rates by 25 bps we warned that "nobody knows if the Fed can actually do it", citing not only our previous post on the topic, explaining the lack of a detailed framework by the Fed on the mechanics of the rate hike, but also a Bloomberg piece in which we noted the broader logistical concern: "with so much cash sloshing around, will Fed officials be able to nudge rates as high as they want?

The Uncomfortable Truth About The Great Boom And This "Recovery"

Submitted by Harry Debt via EconomyAndMarkets.com,

A Yahoo Finance headline this morning reads: “Unhappy New Year: The U.S. Economy Is Stalling Out.”

We recently learned that existing home sales in November crashed 10.5% from the month before.

Guess when the last time was when we saw these levels? The housing crisis of the mid- to late-2000s!

BBC Says Its Websites Taken Down By Cyber Attack

The BBC said that its main news website and other online services were taken down on Thursday by a large web attack. The service went down at 7.00 GMT  and was out for more than three hours on Thursday. Users received an error message and the broadcaster said on Twitter that the outage was due to technical problems.   The BBC website is down – this is the first sign of the apocalypse right?

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