November 21, 2012 Update

DJIA:12,788 NASDAQ:2,916 10-YR TRS:13/32,yield 1.656% Oil:$86.75 EURO:$1.2818 YEN: 81.69 

Micro

• SPZ: trading in a tight spread from uneasiness in Europe as IMF and European leaders fail to agree on how to aid Greece, jobless claims data report and UMichigan’s consumer confidence report. 
• Earnings: Deere & Co. (NYSE: DE) Q4 EPS of $1.75 missing forecast by $0.13, Donaldson Company (NYSE: DCI) Q1 EPS of $0.36 which beats expectations by $0.02, Kid Brands (NYSE: KID) Q3 EPS of $0.03 missing expectation by $0.07, GasLog (NASDAQ: GLOG) Q3 EPS of $0.06 beating forecast by $0.02.
• SAC Capital’s Steven Cohen is being investigated and accused of insider trading in a case that is said to be one of the most lucrative ever. 
• Research in Motion Limited (NASDAQ: RIMM) claims that Blackberrys “have been failing both at inopportune times and at an unacceptable rate” NTSB is looking to replace with an iPhone contract.
• Cato Corporation (NYSE: CATO) declares a quarterly dividend of $0.25per share payable December 28.
• Hostess will be pleading with bankruptcy Judge Robert Drain to authorize its liquidation after failed negotiations with Hostess’ striking bakers union to come to an agreement. Flowers Food (NYSE: FLO) is rumored to acquire the company, Private Equity firm Sun Capital may also be involved. 

Macro

• Asian Markets: in the green as a rebound in Shanghai supports Asian markers, financials and Yen trading strong. 
• European Markets: getting killed as investors are worried about the future of France and Greece.
• Weekly jobless claims data will be released at 8:30am and are forecast to remain around 418,000, lower than last week’s 18-month high of 439,000.
• Japan’s trade deficit double in October to ¥549B ($6.7B).
• UMichigan’s consumer confidence data will be released at 9:55am and is expected to decline to 84.0 from 84.9 due to destruction caused by Hurricane Sandy and worries regarding the fiscal cliff. 
• October’s leading indicators report should be released at 10:00am with a forecast to rise 0.1%, a slowdown from September’s 0.6% gain.
• The Greek debt crisis was once again “kicked down the road” as leaders fail on how exactly to aid the country, another meeting will be held on Monday to try and figure it out. 
• South Korea continued importing Iranian oil in October buying 5.78 million tons after a three month suspension. 

Beyond the Turkey

As you gorge on bountiful helpings of turkey, stuffing, and potatoes, just remember exactly what the meal was created to represent. Aside from the actual historical concerns (the British and pilgrims claiming “their” new found land, and bullying the Native Americans out), reflect on why the people who matter most to you chose to congregate on the third Thursday of November to devour the traditional American meal you chose to provide. Similar to the holiday turkey, I believe Thanksgiving has lost all its’ real meat and has been stuffed with nothing benefiting mankind. Throughout the feast, do not be afraid to think about your happiness or ponder upon life. Take the time to decide what you are most thankful for, then express and share your thoughts with your guests. Tell the people at your Thanksgiving feast why you appreciate them. Thank your quests individually for choosing to share the holiday with you and explain why your appreciate their company. The spirit of a true American Thanksgiving will never die as long as you decide to give it meaning. Instead of focusing on your caloric intake tomorrow night, appreciate and be thankful for every moment and every bite and each person your holiday dinner consists of. Time, as we experience it on earth, passes us at an exponential rate. Do not let this Thanksgiving feast roll by without recognizing all you are thankful for, because, after all, one day it may be too late.