STOCK MARKET WATCH -- Thursday, 15 November 2012

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18. The Bundesbank Slapped The Fed In The Face

http://www.businessinsider.com/ouch-the-bundesbank-slaps-the-fed-in-the-face-2012-11

“Yellen and Cisco lift US stock futures,” the headline read enticingly in the morning. Priceless. Their combined pronouncements were driving up the markets, it seemed.

Cisco CEO John Chambers is famous for adding adjectives during earnings calls that cause or predict crashes; his use of “very lumpy“ to describe demand for Cisco products in November 2007 unleashed a round of mayhem.

But to everyone’s great relief, he kept any errant adjectives to himself during the earnings call, though he did admit that the “macroeconomic environment” was “challenging” and that “order trends in Europe” were “very challenging.” But not “very lumpy.”

The other spark that goosed the futures, according to the headline, wasn’t a corporate giant, but Federal Reserve Vice Chairman Janet Yellen who is rumored to have a shot at becoming Chairman, if Ben Bernanke decides to abandon ship in early 2014. Her words weigh.


Read more: http://www.testosteronepit.com/home/2012/11/14/ouch-the-bundesbank-slaps-the-fed-in-the-face.html#ixzz2CIE4qPUK