US consumer confidence hits 4-month low-ABC/Money

Reuters, 03.09.04, 6:30 PM ET

NEW YORK, March 9 (Reuters) - A measure of U.S. consumer confidence fell to the lowest since early November in the latest week, dragged down by the weak job market and rising gasoline prices, a report said on Tuesday.

The ABC News/Money Magazine Consumer Comfort index declined to -18 in the week ended March 7, compared with a reading of -16 in the preceding week. The index reached a 21-month high in January and has since fallen to its lowest level since November.

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Link to entire Reuters article

Perhaps because Bush's* lies about the economy are becoming increasingly obvious.

in a spectacular way

When money managers are looking for ways to ensure their investment you know something is going on

<http://quote.bloomberg.com/apps/news?pid=10000016&sid=atMZrrA1szN0&refer=home>

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(Bloomberg) March 9 -- U.S. stocks had their first back-to- back declines in two weeks amid concern that profit growth will slow more than forecast as job creation lags. The Nasdaq Composite Index erased its gain for the year.

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``The robust earnings picture is something that has been largely'' factored into stock prices, said Jack Caffrey, a strategist at J.P. Morgan Private Bank, which oversees $280 billion in New York. ``The question arises: How sustainable will revenue growth be if we're not starting to create jobs.'' March 9

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A Little Nervous'

``Until we see some kind of catalyst other than what I consider cautious comments around mid-quarter updates, we're not getting people to pay higher prices for stocks,'' said Arancio. ``People are a little nervous about 2005 numbers, when everybody is looking for valuations to peak.''

A government report Friday showed the world's biggest economy created 21,000 jobs last month. Economists had predicted 130,000, based on the median forecast in a Bloomberg News survey. Profit growth will slow from 18.3 percent last year to 12.4 percent in 2005, according to Thomson Financial.