By Maxine Shapiro, KERA 90.1 business commentator
Dallas, TX – It's Friday so "It's Only Money," a review of the big and not-so-big stories of the week. I'm Maxine Shapiro with Marketplace Middays.
Five out of six days, the markets were up. That's all anyone's talking about, at least on financial matters. But earning season doesn't usually follow a trend. If earnings are good, it rallies - if earnings are bad, it breaks. Technically, what the charts are telling us, the NASDAQ has hit resistance on the upside, which clicks in a sell sign. The Dow need to sustain support at 8-thousand to convince anyone the market wants to go up. In the meantime, this morning the Consumer Price Index for September was released. The CPI identifies inflation or deflation. The index rose only two-tenths of a percent. If you're on Social Security, it's not good news. As the government calculates inflation based on its fiscal year, the monthly Social Security checks for next year will reflect only a 1.4% increase. That's the smallest rise in four years.
The trade deficit for August widened more than expected. Less exports out of the country and a whole lot more imports into the country. Besides the obvious crude oil, we fancied buying more toys, TVs and clothes from other countries.
Defying the rest of the tech sector big time, Microsoft doubled its sales and profits from a year ago. The question analysts are raising - how can this be sustained when most of the gain came from a new software-pricing plan that users had to sign-up for the end of July? Hmmm...
You know, I complain a lot how most new developments that are sprouting over the Metroplex forget to plant a tree. In trying to lure businesses to our area, we need more than a shiny new building and a fountain, as lovely as that is. Well, the city of Frisco is seeking volunteers to plant trees. The city hopes to plant 250 trees through out Frisco in the coming year. Last year, they planted 200 trees. Heck, I'd go and help.
Stay healthy and happy. For KERA Marketplace Midday, I'm Maxine Shapiro.
Marketplace Midday Reports air on KERA 90.1 Monday - Friday at 1:04 p.m. To contact Maxine Shapiro, please send emails to mshapiro@kera.org.