The US equity long only fund managers would dearly like to rally this market to ensure their year end bonuses.
And once again they made a play to take the markets off their lows this afternoon, until another report (rumour) swept the market that Germany would not back any new treaty proposal tomorrow.
And so the markets sold off and went out very near their lows.
Texas Instruments lowered guidance after the bell, and the stock is being hammered after hours.
Based on my own industry knowledge the retail electronics industry is becoming desperate to move inventory in the States with a few notable exceptions especially amongst the wireless and personal device cult manufacturers.
