quicktime2004

In the early morning, stocks up after GMAC got its lifeline, and retailsales dipped big. Here is the data:

1. Retail sales dropped: 5.5~8 percent
2. Retail sales without auto and gas sales: 2~4 percent
3. Personal consumption percentage in GDP: more than 2/3
4. Holiday sales/Annual total in retails: 30~50 percent
5. Amazon 2008 holiday sales: best than ever; More than 6.4million items with 5.6 million on its peak day
6. Estimate Returns: up 50 percent to 60 percent

On Christmas eve, the Federal Reserve allowed GMAC to become a bank holding company.Is this a good news for investors? I don't think so. This shows the finance arm of struggling Detroit automaker GM can't sustain without help from the government's $700 billion rescue fund.It just indicated that smartmoney will flow out of the stock market again using this as one excuse.