Weak Earnings and Bad Economic Data Pummel Stocks – Ep. 48

* 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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