First of all, happy Rosh Hashana! I wasn’t raised in any particular religion (I’m a stock index), but I like to spread some good cheer when the opportunity presents itself.
Like I said yesterday, I’ve been working on thinking happy thoughts. And you know what? Today it kind of works! Without a whole lot to go on, I gained 28 points. That’s not a rip-roaring victory, but a tiny 0.3 percent uptick is way better than Tuesday’s bummer-fest was. Plus, today’s action brings my tally to two positive days in a row, and I’ve gained 4 percent so far in September! Great, right?
Not a lot of news coming in over the wires, so I guess I was mainly buoyed by today’s weekly jobless claims numbers from the Department of Labor. They weren’t bad — 27,000 fewer people filed for unemployment benefits compared with last week. I know it’s a weekly statistic, it’s volatile, nine states had trouble reporting, and the Labor Department usually revises the count by a substantial amount the next week, but look, I’ll take the good news where I can get it.
The blogger at Zero Hedge is so mad at the Department of Labor about the jobless numbers. Maybe even a little too mad. Sometimes I wonder where all that frustration comes from. I imagine those guys holding their breath, and their faces turn redder and redder as they bang out these blog posts. Settle down! Sometimes when I’m reading that blog I feel like I’m on a video-game message board or something. Smart guys, but they’re a little excitable. They’ve probably just watched Fight Club too many times. Anyway, like I say, stay positive. The jobless number went down, so I’m feeling optimistic.
Speaking of people who’re way too grumpy, that “Dr. Doom” Roubini guy from NYU said President Obama’s Stimulus Part Deux won’t work. I agree, I’ve been saying so the past couple days, so I wasn’t going to let that get to me.
The majority of my stocks went up today. Really it was just McDonald’s that hit a snag, because their sales in France were weak last month. Crazy, right? I always forget McDonald’s operates in France until I remember that Pulp Fiction scene where they talk about the Royale With Cheese. Man, gotta love Travolta. Classic.
Don’t want to jinx anything, but we might have something going here.
Alright, see you tomorrow!
The Dow Jones Industrial Average