Score! Stocks Will Rise This Year
January 25, 2013 by Chip Wood
Stock bulls will like this Super Bowl. Are you familiar with Wall Street’s Super Bowl Predictor? It says that the stock market will go up in a year that an original National Football League team wins the Super Bowl, but will fall whenever a team from the former American Football League is victorious. Hey, don’t scoff; it’s been right more than 80 percent of the time. And since both contestants in this year’s Super Bowl were part of the original National Football League (the Baltimore Ravens trace their lineage back to the old Cleveland Browns), followers say the market will be up for the year. Time will tell if they’re right again.
Surprising opposition to the Hagel nomination. The Washington Post published an unusually harsh editorial opposing the nomination of former senator Chuck Hagel to be our new Secretary of Defense. The Post wrote: “Mr. Hagel’s stated positions on critical issues, ranging from defense spending to Iran, fall well to the left of those pursued by Mr. Obama during his first term — and place him near the fringe of the Senate that would be asked to confirm him.” Meanwhile, some anticipated opposition to the nomination vanished when New York Senator Charles Schumer issued a warm endorsement of his former colleague after a private meeting between the two.
Wal-Mart steps up. In a speech at the National Retail Federation’s annual convention, Bill Simon, president and CEO of Wal-Mart’s U.S. business, said the company will hire more than 100,000 honorably discharged veterans over the next five years. He said vets “are leaders with discipline, training, and a passion for service. There is a seriousness and sense of purpose that the military instills, and we need it today more than ever.” Simon also announced that the company will purchase an additional $50 billion of American-made products over the next 10 years, in an effort to create more jobs here at home.
Conservative group sues to stop new gun controls. FreedomWatch, a conservative activist group, has filed suit in Federal court to block President Barack Obama’s new gun-control initiatives, including the 23 executive orders he issued on Jan. 16. The group claims that the White House task force that created the proposals conducted illegal meetings with lobbyists, without the public notice that is required by law. Don’t hold your breath waiting for a ruling in the group’s favor.