Stocks managed to pull out a little counter-trend gain today.
This is a light week for economic news.
We are getting into the earnings season.
After the bell, both Netflix and IBM beat their earnings estimates, but missed on top line revenues.
Both are fine examples of low growth companies using accounting games to provide the appearance of vitality. IBM has been shrinking for quite some time, and Netflix, while it has potential, needs to change its model badly.
Or perhaps it would be more correct to say it should expand its portfolio of activities. But not being a true content provider, or a supplier of the pipe that carry its products, it is an interesting strategic position.
Let's see how the wash and rinse cycle proceeds. The Street would like to see stocks move higher now.
I turned to CNBC for relief from Trish Regan's nasal banality.
I noticed that CNBC had Rick Harrison, the purveyor of a Las Vegas pawn shop, and reality show star on as a guest commentator on macro-economics, providing policy advice. Joe the Plumber.
If you have ever been to his store, you will know it is more reality show now than a business. And he was almost on a par with one or two of the shallowness and sloganeering of the other commentators. At least the 'Cake Boss' still sells decent bakery out of his store in Hoboken.
I kept waiting for Steve Liesman to come on and provide the comic relief that Chumlee ordinarily provides. Larry Kudlow was doing his schtick earlier on.
The intellectual poverty of financial television is appalling: five miles wide, and an inch deep. No wonder the ratings were plummeting.
Have a pleasant evening.
