Southridge Capital Looks At The Entertainment And Financial Sectors
Southridge Capital wrote in an earlier blog about how the US looks stable compared to some of the other regions worldwide.
Over the past week, Southridge Capital saw the stock market had another decline. Plus, Greece replaced Goldman Sachs in the news. Employment numbers for April were released and we liked what we saw. The Labor Department reported that there was an increase in hiring by employers April by 290,000 jobs. In 4 years, that has been the largest increase, plus the fourth straight months of adding jobs.
Reading into the job numbers also shows hiring was spread out amongst a number of industries, which is positive news for an economy in search of stabilization.
$140 billion bailout plan for Greece was approved on Friday and the EU stepped up to calm the global markets with their own package. We hope these plans will provide investors with a reason to look at the good news in the Unites States.
The entertainment sector has shown positive numbers here in the US.
In March WrestleMania, the WWE?s main yearly event was held in Glendale, Arizona. The event netted a $13.1 million profit for the organization and contributed nearly $28.8 million of revenue. This is terrific news for an economy that is struggling to pull itself out of a recession.
Sticking to the ?ring? according to a BoxingNews24.com source Floyd Mayweather Jr. vs. Shane Mosley did an estimated 1.1-1.2 million buys on pay-per-view (PPV), making this the largest fight for the 2010 year (so far) If Floyd Mayweather Jr and Pacquiao ever sign a contract, we are sure PPV numbers will rise dramatically.
On May 7th, Iron Man 2 surpassed $50 million in ticket sales, which is the 7th largest opening day in history. Avatar has reportedly earned $747,292,481 in US sales since it was released, according to IMDB.com.
Lastly Callaway saw a worldwide increase in sales of 11% from the first quarter of last year and US sales increase of 7%.
Now we understand why the personal saving rates (a percent of disposable income) decreased. At the end of the day, all of the sporting and entertainment events prove the American consumers do not mind spending money to have fun, which will help out everyone.
Article Source: FxTradingStock.com
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by: Bill Warren
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Word Count: 383
Date: Wed, 26 May 2010
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