Stock markets recorded another strong week as further signs of economic stabilization emerged. The S&P 500 Index worked its way back to above the 1,000 level on Friday, and more upside lies ahead said Abby Joseph Cohen, Goldman Sachs’ market strategist, as she expected the Index to reach the 1,100 mark by year end.
This week’s batch of video clips not only covers the outlook for stock markets, but also discussions about the economy’s transition from recession to recovery and other topical issues. Appearing on camera are Jeffry Sachs, Robert Shiller, Larry Summers, Lakshman Achuthan, Joseph Stiglitz, David Rosenberg and David Hickey.
The selection starts off with two academics – Jeffrey Sachs and Robert Shiller – and concludes with a discussion about the “man-cession” – older white male workers being among the hardest hit by job losses.
Fora.tv: Jeffrey Sachs – global effects of crisis “Jeffrey Sachs, Director of Columbia University’s Earth Institute, discusses the current economic crisis.”
The Wall Street Journal: US house prices have not bottomed yet “Turnover in the American real-estate market may be bottoming, but prices are unlikely to do so for some time. History suggests they will keep drifting for another year or two before they find a floor.”
YouTube: Bernanke – why are we still listening to this guy? “This video should make people think twice about listening to anything that Chairmen of the Fed Ben Bernanke says. It’s a compilation of statements he’s made from 2005-2007.”
CNBC: Ford posts first positive sales in two years “The government’s ‘cash for clunkers’ program gave Ford the boost it needed to post its first positive monthly sales in two years. George Pipas, chief sales analyst at Ford Motor Co., discusses the company’s July sales with CNBC’s Phil LeBeau.”
CNBC: Wall Street profits from the Fed “The Federal Reserve has emerged as one of Wall Street’s biggest clients, raising questions on whether the central bank is driving hard enough bargains in its deals with the private sector. Henny Sender of the Financial Times has the story.”
Bloomberg: Hickey says credit markets more stable, good for stocks “Paul Hickey, co-founder of Bespoke Investment Group, talks with Bloomberg’s Margaret Brennan and Michael McKee about the outlook for credit and stock markets. Hickey also discusses the potential impact of US economic data on stocks.”
John Authers (Financial Times): Risk appetite is back – implications for US dollar “Emerging markets are back to pre-Lehman levels, suggesting that risk appetite is back. FT’s investment editor John Authers explains what that means for the US dollar.”
Financial Times: Has the ECB done enough? “In August 2007, the ECB took unprecedented action when it pumped €95 billion into overnight money markets. Two years on, FT’s Ralph Atkins asks if the ECB has done enough.”
CNBC: The great “man-cession” “Older white male workers are among the hardest hit by job losses, according to a new study. Brian Bethune, with IHS Global Insight, which conducted the study along with USA Today, has the details.”