Appointment viewing, 8:15 PM tonight on TNT. Cavaliers/Heat. LeBron v. Dwayne Wade … in a rematch of their scintillating second quarter showdown in Miami a couple of weeks back where the two stars scored 23 consecutive points on a mind-boggling array of highlight film three pointers, slam dunks, and amazing drives to the basket. The pair combined for 37 second quarter points in total in a game the Cavs ended up eeking out on a LeBron James steal and pair of foul shots with just seconds remaining.
Every time these two teams play, it seems like LBJ and DWade put on a show. And just in case you’ve been living inside a cave, the Cavaliers have won nine straight games and stand at 39-11, the best record in the entire NBA, and 5.5 games up on Orlando for the coveted #1 seed in the Eastern Conference. The Heat lost their third straight game last night in Baaaaahstan, and has fallen below .500 at 24-25 on the season. Were the playoffs to start today, Miami would actually be the #8 seed, and the Cavs first round opponent.
More on the Super Bowl tomorrow, but we should have a great game on our hands this Sunday. I’ve been up in the air on this game for the last week. Peyton Manning is playing on a level right now that I don’t think I’ve ever seen a quarterback perform at in my lifetime. Every game the Colts have tried to win this season, they have. And I just don’t think the Saints have the defensive backs to keep up with Wayne, Clark, Collie, and Garcon.
Just something about this Saints team though. Every single person I’ve talked to expects the Colts to not only win, but to do so by more than 5.5 points. Whenever that happens, the opposite usually happens. Ask the 2001 and 2007 Patriots. And I can’t help but think there’s not a destiny thing going on with this Saints team given the great story behind the team and the city in the wake of Hurricane Katrina.
Quote of the day …
“Any time you give a man something he doesn’t earn, you cheapen him. Our kids earn what they get, and that includes respect.” ~ Woody Hayes
Market …
The wave of employment news continued this morning, and this latest update was not a good one for the economy. First time unemployment claims, a weekly indicator used to gauge the health of the jobs market here in America, rose by 8,000 from 472,000 to 480,000 in the most recent week of data. Economists had expected first time claims to fall to about 450,000. The rise is the fourth in the past five weeks. The four-week average, which smoothes fluctuations, rose for the third straight week to 468,750. The figure is the highest total in the past two months, and pretty much erases any hopes that the lower jobless claims totals we saw in late December were the beginning of a trend that would lead to consistent job growth here in the first quarter of 2010.
Of course, this news comes on the heels of tomorrow’s vital employment report. Already huge releases each month with massive market moving potential, the monthly jobs reports (released on the first Friday of every month) have been even more in the spotlight as of late as the economy looks to emerge from the worst recession in 80 years, and cannot do so without more people being put back to work. Expectations were for the unemployment rate to remain at right around 10.0%, and for the economy to have added 20-30k jobs in January. This news this morning will temper those expectations, and the early market activity since the jobless claims release this morning is evidence of that. Stock futures are down, and safe haven fixed income assets like treasuries and mortgages are rallying.
News …
~ Jobless Claims Unexpectedly Rise, Productivity Up 6.2%
http://www.cnbc.com/id/35233130
~ Retailers Report Modest Sales Gains in January
http://www.cnbc.com/id/35205999
~ Mortgage Demand Picks Up Ahead of Expected Rise to Rates
http://www.mortgagenewsdaily.com/consumer_rates/132989.aspx
~ Obama Administration to Supple 1 Billion to Small Banks
http://www.cleveland.com/business/index.ssf/2010/02/obama_administration_to_provid.html
~ Futures Lower on Surprise Rise in Jobless Claims
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