Stocks Move Higher As Us Jobs Grow At Healthy Clip

government reported more healthy job growth in May. The Standard & Poor’s 500 index notched its eighth record high in the last 10 trading days. Post to Facebook Stocks move higher as US jobs grow at healthy clip Stocks are closing higher after the U.S. government reported more healthy job growth in May. The Standard & Poor’s 500 index notched its eighth record high in the last 10 trading days.
Source: http://www.azcentral.com/videos/money/business/career/2014/06/08/10199957/

The Case for Health-Care Stocks – WSJ

In Shanghai, Metro Land Corp. is down 4.2%, Huayuan Property Co. is down 1%, and Beijing Dalong Weiye Real Estatte Development is moving lower by 0.7%. However, techs are rising across the board after their counterparts rallied in the U.S. Hang Seng Index heavyweight Tencent Holdings is advancing 1.2%, and computer maker Lenovo Group, also on the benchmark index, is up 0.8%. Other gainers include onlin actio n-servi ce provider China Binary Sale Technology (up 1.5%), childrens online-game developer Baioo Family Interactive (up 1.3%), and online card-game operator Boyaa Interactive International (up 1%). 9:52 pm Tokyo (Nikkei Average) up 0.6% Hong Kong (Hang Seng Index) up 0.7% Shanghai (Shanghai Composite Index) flat Seoul (Kospi) up 0.1% Australia stocks: Happy belated birthday, Queen!
Source: http://blogs.marketwatch.com/thetell/2014/06/08/asia-stocks-live-blog-pricing-in-u-s-and-chinese-numbers/?siteid=bullytweet

Asia Stocks live blog: Pricing in U.S. and Chinese numbers – The Tell – MarketWatch

By Biography June 6, 2014 3:19 p.m. ET Health-care stocks are outperforming the broader market, at least in part because investors see the Affordable Care Act spurring more business for medical-device, pharmaceutical and other companies in the group. The health-care law is just one of the tailwinds that financial advisers and other professional investors expect to propel some health-care companies’ stocks upward in coming years. Aging baby boomers and growing affluence in…
Source: http://online.wsj.com/articles/the-case-for-health-care-stocks-1402082325

Beware these overpriced stocks – – MSN Money

<img src='http://i.imgur.com/NH70xUu.jpg&#039; width='500px' alt='From top: LinkedIn headquarters in Mountain View, Calif. © AP Photo, Paul Sakuma, File; Shutterfly headquarters in Redwood City, Calif. © AP Photo, Paul Sakuma' http://www.todayhotstocks.com style=’float:left;padding:5px’ />

That’s why I wouldn’t touch these stocks today, even at their reduced prices. I’m not saying they won’t bounce back. No one can predict short-term market moves. And a few of these companies undoubtedly will become long-term success stories.
Source: http://money.msn.com/inside-the-ticker/beware-these-overpriced-stocks

Advertisements

Health Services Etf Could See Profit-taking – Yahoo Finance

Morgan Chase ( JPM ) gets moving next Tuesday with the launch (visit site) of the firms first fund, according to a just-released exchange filing . JPMXF Diversified Return Global Equity ETF, we reported ,is built with four attributes in mind: (1) finding stocks which exhibit low volatility, (2) stocks with value characteristics, (3) momentum and (4) size. Bloomberg Going passive Back in February, this blog previewed a lineup that the giant bank has no problem calling smart beta. The term has come under fire in the ETF industry and elsewhere for being vague , overpromising and something of a hash by fund marketing departments. Do you really want to call these ETFs smart beta? I put the question toBob Deutsch, head of JPMs ETF business, earlier this year. Here was the response : Its a term the industry uses, and I dont have something to offer in terms of a better one, Deutsch said, adding, I do think there is a recognition that traditional market cap weighted index funds have unintended biases, and that because of those unintended biases, investors should at least consider other ways to invest.
Source: http://blogs.barrons.com/focusonfunds/2014/06/13/jpmorgans-etf-debut-set-for-tuesday/

ETF Chart of the Day: An Energetic Friend | ETF Trends

Youre missing 99% of the companies in the market, Hougan told MarketWatch. And where the Dow ETF becomes a little bit dangerous, he added, is that some investors might think theyre getting broad exposure when they buy it. Instead, theyre getting a 30-stock fund thats 8% Visa /quotes/zigman/502306/delayed /quotes/nls/v V and underweight sectors like tech and consumer non-cyclicals, while overweighting industrials. Hougan deploys words like dinosaur and nice historical artifact to describe the Dow. Its a bicycle with a giant wheel in the front, he said Tuesday. That type of old-timey bicycle is shown in the adjacent photo. So why is the Dow ETF even around?
Source: http://blogs.marketwatch.com/thetell/2014/06/11/why-the-dow-etf-is-losing-assets-and-a-little-bit-dangerous/

JPMorgan’s ETF Debut Set for Tuesday – Focus on Funds – Barrons.com

gross domestic product number. The first quarter is going to be weaker. Stephen Stanley, chief economist at Pierpont Securities LLC, argues that second-quarter growth prospects are also negative as the government will have to re-evaluate how the Affordable Care Act, or so-called Obamacare, is affecting consumer spending. Stanley expects the downward revisions to push first quarter GDP numbers to minus 2%. In an environment of economic complacency, yet another downward revision to 1Q growth could cause enough of a psychological effect to move the markets, and evidence is mounting that the 2Q bounce will be much smaller than originally thought, Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC, said in the article. ETF investors can track the health care providers and services sub-sector through the SPDR S&P Health Care Services ETF ( XHS ) . The ETF includes a 31.6% allocation toward health care services, 31.2% in health care facilities, 22.1% in managed health care, 14.7% in health care distributors and 0.3% in health care REITs.
Source: http://finance.yahoo.com/news/health-services-etf-could-see-120058891.html

The monthly, weekly, and daily relative performance analysis plays an important role in my selection of ETFs and stocks. The best signals come when all three are in agreement but I will often make recommendations when the daily and weekly have signaled that they are new market leaders. The continued improvement in the monthly relative performance, line c, was one of the reasons that the technology sector was a favorite at the March 2009 lows. The RS line actually bottomed in 2006 and then formed higher lows in 2008 and 2009. It moved through its resistance (point 2) and at the end of January 2009, which was a positive sign.
Source: http://www.forbes.com/sites/tomaspray/2014/06/14/look-inside-your-sector-etf-before-you-buy/

Semiconductor ETF Up 3 Straight Weeks (SMH, INTC, XSD, OVTI)

The largest holding is OmniVision Technologies (NASDAQ: OVTI ) at 2.8 percent. Both ETFs are now sitting at extremely overbought levels based on a variety of technical indicators, which should not be a surprise considering the rally that both have enjoyed. The long-term outlook for the industry looks bullish, however buying today may not be the best strategy. Nothing goes straight up and a healthy pullback is overdue.
Source: http://money.cnn.com/news/newsfeeds/benzinga/articles/etfs_sector_etfs_14_06_4618962_semiconductor_etf_up_3_straight_weeks_smh_intc_xsd_ovti.html

XLE has had notable inflows YTD, taking in >$3 billion and is now a >$12 billion fund. This ETF is also the largest Energy Equity ETF in the space by a mile as well, trumping the second largest VDE (Vanguard Energy, Expense Ratio 0.14%) which only has about $3.2 billion in AUM. XOM and CVX by nature are Value stocks, with 2.70% and 3.50% yields respectively, and managers that may have been fortunate to either buy the stocks outright or via an Energy ETF with sizable weightings towards them like an XLE for example, three, six, or twelve months ago, have seen not only steady dividends roll in but also impressive breakout price performance which has recently trumped the broad market indices. In any case, whether the future story is Bull or Bear, it seems like now is the best time to pay attention and stay focused not only on these stocks but the sector given the Iraqi situation as well as looming earnings season for XOM, CVX and related names, which is really not that far off (end of July), as well as the typical seasonality of Gasoline prices around Labor day. Even though most eyes today may be focused on the U.S. Energy Select Sector SPDR For more information on Street One ETF research and ETF trade execution/liquidity services, contact Paul Weisbruch at pweisbruch@streetonefinancial.com .
Source: http://www.etftrends.com/2014/06/etf-chart-of-the-day-an-energetic-friend/

Obama: Threat From Iraq Militants Could Grow – The Washington Post

As bloody sectarian violence breaks out once again in Iraq, a president who opposed the Iraq war and vowed to end it is finding the U.S. being lured back into the conflict by the deteriorating security situation. Obama has announced plans to send 300 special operations forces into Iraq to train its military, but insists the U.S. military cant effectively quell the conflict unless Iraqs own Shiite-led government pursues a more inclusive approach that doesnt shun the Sunni minority. The issue has divided Congress, with some lawmakers criticizing Obama for doing too little and others warning the return of armed troops to Iraq could be the first step toward pulling the U.S.
Source: http://www.washingtonpost.com/politics/obama-threat-from-iraq-militants-could-grow/2014/06/22/9a23ee1e-fa05-11e3-b836-a372189b76a6_story.html

military presence would do little good given that the root of Iraqs problems is a political system that has excluded the countrys Sunni minority. We do not have the ability to simply solve this problem by sending in tens of thousands of troops and committing the kinds of blood and treasure that has already been expended in Iraq, he said. Ultimately, this is something that is going to have to be solved by the Iraqis. But there are few guarantees when it comes to sending Americans into Iraqs unstable security situation. Though the troops are not being sent specifically for combat purposes, all are armed and have the right to defend themselves if they are in danger. As soon as you put troops or advisers in an area of conflict, theyre at risk, said Julian Zelizer, a political history professor at Princeton University.
Source: http://www.washingtonpost.com/politics/obamas-test-try-to-avoid-mission-creep-in-iraq/2014/06/22/1ccc6514-fa04-11e3-b836-a372189b76a6_story.html

Obama: ‘What have you done to my house?’ – Jun. 20, 2014

Attorney General Eric Holder, in a memo to Obama, said the Justice Department has completed its government-wide push to carry out the high court’s 2013 ruling in United States v. Windsor that struck down part of the Defense of Marriage Act, enabling the federal government to start granting benefits to married same-sex couples. Holder said the impact of that court decision “cannot be overstated.” At the same time, Holder urged Congress to adopt legislation that Democratic lawmakers have proposed that let the VA and Social Security extend benefits to married couples living in non-gay marriage states. Obama was lending his support to those efforts in Congress, the White House said. “The fact that they’re endorsing our legislation will give it a boost,” said Rep.
Source: http://news.yahoo.com/obama-expands-government-benefits-gay-couples-210710970–finance.html

Obama expands government benefits for gay couples – Yahoo News

Ileana Ros-Lehtinen, R-Fla., said “it’s pathetic” that the mother of Marine Sgt. Andrew Tahmooressi has to plead for her son’s release from a Mexican prison while Obama apparently did not address the issue earlier in the day while meeting with Mexican President Enrique Pena Nieto ADVERTISEMENT ADVERTISEMENT “It is inexcusable, it is inexplicable, it is obscene, it is horrific,” Ros-Lehtinen told Greta Van Susteren on “On the Record.” Tahmooressi, who suffers from PTSD and served in Afghanistan, has been languishing in custody since he was arrested in late March after he accidentally drove into the country with three legally purchased guns in his truck. “He took a wrong turn from the U.S. into Mexico, a wrong turn into the Twilight Zone,” Ros-Lehtinen said. “Meanwhile, he’s been in a Mexico prison, and the days languish on for him. He has been beaten, he has been chained, he has been treated terribly.” Ros-Lehtinen noted that the transcript of Obama and Nieto’s meeting, in which the two discussed the surge of immigrants from Mexico into the United States, did not include any mention of Tahmooressi.
Source: http://www.foxnews.com/us/2014/06/21/ros-lehtinen-blasts-obama-for-apparently-not-mentioning-marine-plight-during/

Lawmaker slams Obama for no mention of jailed Marine in talks with Mexican president | Fox News

“What on earth have you done to my house?” President Obama quipped Wednesday at the White House’s first maker faire. The event was devoted to the future of innovation. The idea: bring together makers, hobbyists and inventors to show off the creativity of http://www.obamastudentloanforgiveness.net/ American entrepreneurs. The maker movement, which empowers folks to build their ideas on their own, has gone from niche to mainstream, and the administration has taken notice. Although the maker movement isn’t new, many of the technologies that have driven the movement have recently become mainstream and accessible.
Source: http://money.cnn.com/2014/06/20/technology/innovation/maker-faire-white-house/index.html

Get Out Of Stocks!* | Seeking Alpha

HEARD ON THE STREET: Draghi Sparks Utility Stocks – WSJ

The short answer is there is a certain population of people who are looking at alluring record equity prices, but are better off not touching stocks – I like to call these individuals the “sideliners”. The sideliners are a group of investors who may have owned stocks during the 2006-2008 timeframe, but due to the subsequent recession, capitulated out of stocks into gold, http://www.todayhotstocks.com cash, and/or bonds. The risk for the sideliners getting back into stocks now is straightforward. Sideliners have a history of being too emotional (see Controlling the Investment Lizard Brain ), which leads to disastrous financial decisions.
Source: http://seekingalpha.com/article/2257903-get-out-of-stocks

Why you should buy stocks today – – MSN Money

Young man working on laptop © ONOKY-Eric Audras, Getty Images

The Dow edged up 0.4 percent to 16,900.81. Earlier, most Asian benchmarks ended lower. Japan’s Nikkei 225 closed nearly flat at 15,077.24 while Hong Kong’s Hang Seng slipped 0.7 percent to 22,951.04. In mainland China, the Shanghai Composite Index lost 0.5 percent to 2,029.96. Australia’s S&P/ASX 200 rose 0.5 percent to 5,464.00.
Source: http://abcnews.go.com/International/wireStory/asia-stocks-slip-ahead-jobs-ecb-boosts-europe-24021965

Stocks Rise on US Jobs Report – ABC News

Economic growth remains sluggish years after the worst recession since the Great Depression. Vladimir Putin’s mischief ultimately threatens the crucial flow of natural gas from Russia to Western Europe. Why buy now, when the leading market indexes are at record highs? Because a review of recent history shows that the date you pick to invest doesn’t matter that much, even if you invest at the market’s highest level of the year.
Source: http://money.msn.com/how-to-invest/why-you-should-buy-stocks-today

Beware these overpriced stocks – – MSN Money

From top: LinkedIn headquarters in Mountain View, Calif. © AP Photo, Paul Sakuma, File; Shutterfly headquarters in Redwood City, Calif. © AP Photo, Paul Sakuma

ET A guy called Mario helping the Italians isn’t the most startling proposition. But this one, Mr. Draghi who runs the European Central Bank, is also helping the Spanish, though; the Germans, not so much. This concerns utilities in particular.
Source: http://online.wsj.com/articles/heard-on-the-street-draghi-sparks-utility-stocks-1402252484?tesla=y

Corrections 2008-2014

Jeremy Siegel, a longtime stock market bull, wrote a bearish piece for The Wall Street Journal in early 2000 just as tech stocks were peaking. In the article, he cautioned: “History has shown that whenever companies, no matter how great, get priced above 50 to 60 times earnings, buyer beware.” Siegel is a finance professor at the University of Pennsylvania’s Wharton School and a columnist for Kiplinger’s . I liked his quote so much that I used it in an article published last fall warning of overpriced technology stocks. At the same time, I wouldn’t worry about the recent selloff in overpriced stocks spreading to the wider market.
Source: http://money.msn.com/inside-the-ticker/beware-these-overpriced-stocks

The 25 Highest-yielding Dividend Stocks In June

click here VGR Cash Dividend Payout Ratio (Annual) Chart

In more cases than not, however, an astronomical yield is a bad sign for a stock . Given that dividend yields and stock prices move in opposite directions, a high yield usually means investors have begun to worry about the business and driven down its stock price. However, certain types of companies such as real-estate investment trusts mustpay out most of their income as dividends, so their yields will be higher than “normal.” Dividends are not guaranteed; you need to make sure that a business is generating enough cash to pay its dividend, or your investment could be disastrous . I ran a screen for the highest-paying regular dividend stocks; the only limitations I’ve set this time is that the dividend stocks must have a market cap greater than $500 million, must be primarily listed in the U.S. (no American depositary receipts), and must be corporations (no REITs , BDCs , LPs, MLPs , or LLCs).
Source: http://www.fool.com/investing/general/2014/06/06/the-25-highest-yielding-dividend-stocks-in-june.aspx

Get Out Of Stocks!* | Seeking Alpha

Corrections 2008-2014

My best advice remains to get out of stocks*for the “sideliners”. However, the asterisk still signifies there are plenty of opportunities for attractive returns to be had for the rest of us investors, as long as you can stomach the inevitable volatility. DISCLOSURE: Sidoxia Capital Management ( SCM ) and some of its clients hold long positions in certain exchange traded funds, but at the time of publishing SCM had no direct position in any other security referenced in this article. No information accessed through the Investing Caffeine (IC) website constitutes investment, financial, legal, tax or other advice nor is to be relied on in making an investment or other decision. Please read disclosure language on IC Contact page.
Source: http://seekingalpha.com/article/2257903-get-out-of-stocks

Asia Stocks live blog: Pricing in U.S. and Chinese numbers – The Tell – MarketWatch

non-farm payrolls went a year or longer without hitting a new high. In the six months before the job market making a new record, the S&P 500 stock index has posted average gains of 5.6%, Bespoke data show. This time the gains have been even stronger, with the index gaining 6.5%. But performance in the one-, three- and six-month periods after a new job high has resulted in positive but below-average returns. Stocks tend to post above-average returns in the six months before a new employment peak.
Source: http://www.usatoday.com/story/money/markets/2014/06/07/what-to-watch/10104071/

What to watch: Where do stocks go from here?

While the U.S. jobs numbers (see earlier post on todays blog) helped Wall Street finish higher on Friday, Japan has added a little to the global cheer this morning with a decent upward revision to its economic growth for the first calendar quarter. It turns out Japans gross domestic product rose by 6.7% in January-March compared to a year earlier, not the originally reported 5.9%. On a quarterly basis, GDP growth was revised to 1.6% from 1.5%.
Source: http://blogs.marketwatch.com/thetell/2014/06/08/asia-stocks-live-blog-pricing-in-u-s-and-chinese-numbers/?siteid=bullytweet

Gross Has Lesson For Gundlach With New Etf – Bloomberg

Both are managed by the firms billionaire co-founder, Bill Gross . The outperformance highlights how subtle differences in fund sizes and strategies may result in big disparities in returns, especially as its become more difficult to maneuver in the corporate bond market . There are things you can do in a smaller fund that you cant do in a larger fund, said Eric Jacobson, an analyst at Morningstar Inc. (MORN) Enter DoubleLine Capital LP. The Los Angeles-based firm is teaming up with State Street Corp.
Source: http://www.bloomberg.com/news/2014-06-03/size-matters-is-gross-s-lesson-for-gundlach-with-new-etf.html

New ETF Goes Long On Heavily Shorted Stocks

But are they good for investors? By April 5, 2014 It’s the hottest club, so exclusive no one can seem to get in. Asset managers of all stripes are lining up to offer actively managed exchange-traded fundsso long as they can do it on their terms. On the surface, active ETFs are exactly what their name implies: ETFs with all the transparency and trading advantages they’re known for, but instead of hewing to an index or adhering to a rules-based approach, they’re run by managers…
Source: http://online.barrons.com/news/articles/SB50001424053111903536004579465410049955356

The Trouble With Actively Managed ETFs – Barron’s

Clearly, high short interest is an important factor when looking for short squeeze opportunities, but a draft prospectus filed with the Securities and Exchange Commission says that a variety of fundamental and technical factors will also be taken into account. No doubt the exact process will be a closely guarded trade secret. SQZZ ETF: Possible sign of a top, wonders Kass Value investor Doug Kass wondered if this is a sign of a top? reports Dimitra DeFotis for Barrons , neatly summing up the optimistic bent that must be needed to convince people to invest the SQZZ ETF. First, the reason passive ETFs have become so popular in the first place is because they give index-like returns with very low fees. If you just want exposure to the overall market this is usually the cheapest way to get it.
Source: http://www.valuewalk.com/2014/06/new-etf-goes-long-heavily-shorted-stocks/

BlackRock’s Fink jolts ETF business with ‘blow up’ warning
| Reuters

FED WARNED Last month, top money managers aired their concerns during a meeting with New York Federal Reserve President William Dudley. The group, including hedge fund manager David Tepper of Appaloosa Management LP, worried aloud that investors may be stretching too far for returns in a low volatility, low interest rate environment, prompting “some market participants to take on additional leverage to meet investment targets,” according to recently released minutes from the April 10 meeting of the Feds Investor Advisory Committee on Financial Markets. Fink on Wednesday suggested there’s systemic risk lurking in leveraged ETFs, in comments that resonated with some other investors. “I agree with the notion that the leveraged ETFs have the potential to possibly be very upsetting to the market. It is the leverage that concerns me.” said Dan Fuss, vice chairman of Loomis Sayles. Fink http://www.etftradingsignals.com said U.S.
Source: http://www.reuters.com/article/2014/05/31/us-funds-etf-fink-analysis-idUSKBN0EB0HI20140531

Brazil ETF Dropping The Ball, Ahead Of World Cup

There is good reason for those who are long theSPDR S&P 500 ETF Trust(NYSEARCA:SPY) to want to see Team USA exit the tournament as early as possible. Going back in history, the best placement for the U.S. was a 3rd place result in 1930 Uruguay champions). Just the shear mention of that “dirty” decade will send any bull running for the hills. In the 1920’s the markets were roaring higher and seemed unstoppable (sound familiar?). Then came the crash of 1929 which sent the U.S.
Source: http://www.inthemoneystocks.com/free-services/rant-rave-blog/item/43156-Bulls-Are-Bearish-On-Team-USA-At-The-World-Cup-SPDR-SP-500-ETF-Trust-NYSEARCASPY

Rant & Rave Blog. Bulls Are Bearish On Team USA At The World Cup, SPDR S&P 500 ETF Trust (NYSEARCA:SPY)

However, EWZ had been making a strong comeback since finding a bottom in February that has many investors considering repositioning their portfolios back into Latin America and emerging market economies. The Market Vectors Brazil Small Cap ETF (NYSE: BRF ) is also at a critical crossroads of technical support that needs to hold. if the rally in Brazilian equities is going to extend higher. This ETF has $160 million invested in 75 Brazilian small cap stocks and may be considered a complimentary position to a large-cap holding such as EWZ.
Source: http://money.cnn.com/news/newsfeeds/benzinga/articles/news_14_06_4612636_brazil_etf_dropping_the_ball_ahead_of_world_cup.html

Gop Has Done Everything It Can To Make Sure Obama Is The Wrong Color | earl Ofari Hutchinson

The framing of their criticism has not been polite, gentlemanly or exhibited the traditional courtesy and respect for the office of the presidency. This has done much to create a climate of distrust and vilification that has made it near legitimate, even expected, that Obama be heckled. The GOP’s official heckling has taken many forms, all student loans forgiveness Obama mean-spirited and petty, rather than purely the customary expression of opposition to policies that clashing political parties and their leaders show toward each other. The near textbook example of how the GOP has subtly used race to sledge hammer Obama has been its take-no-prisoners drumbeat attack on Attorney General Eric Holder. He’s been called on the GOP congressional carpet in countless hearings, and pilloried, insulted, and abused for every concocted sin from his alleged master mind bungling of the fast and furious gun sting to his supposed politicizing of the Justice Department. The attacks have all been punctuated by screams for his resignation or firing.
Source: http://www.huffingtonpost.com/earl-ofari-hutchinson/gop-obama-wrong-color_b_5284075.html

Inside Politics Speed Read: Red state Democrats rethinking Obama? – CNN Political Ticker – CNN.com Blogs

That amount will apparently balloon to $125 million by years end, according to Politico. Click to watch video Solar panels at the White House A bipartisan bill to promote energy efficiency at government and private buildings has stalled for now in the U.S. Senate, but President Obama is pushing forward with executive actions. And as part of the PR effort, the White House on Friday released new video of solar panels being installed at the White House. Also on Friday, CNNs Adam Aigner-Treworgy reports, Obama will announce a series of executive actions meant to bolster green-job creation and combat carbon pollution. The President also plans to use a visit to California on Friday to reveal commitments from more than 300 private companies and public sector organizations to make the buildings they use more energy-efficient.A fact sheet outlining the details of the announcement brags that these new solar commitments “span every corner of the United States.” They also include commitments from well-known companies like Clif Bar, Apple, IKEA and Whole Foods to increase solar usage.
Source: http://politicalticker.blogs.cnn.com/2014/05/09/inside-politics-speed-read-red-state-democrats-rethinking-obama/

Obama Popular in Tech World, Policies Less So – ABC News

A link has been posted to your Facebook feed. 33 View reader contributions and add your own related to this story. Add Videos or PhotosBe first to contribute Sign in now to share your story. Sign in with FacebookSign in with Google+ Be first to contribute You’ve contributed successfully to: Obama touts energy plans, trumpets W. House solar panels Thanks!
Source: http://www.usatoday.com/story/news/nation/2014/05/09/obama-council-on-environmental-quality-michael-boots/8856363/

Obama touts energy plans, trumpets W. House solar panels

Its fast-paced ethos doesn’t understand Washington’s gridlock. Yet, President Barack Obama remains a popular political figure in Silicon Valley, and the wealthy tech entrepreneurs appear willing to part with their money to support the Democratic Party, especially if the president is making the pitch. Obama attended two high-dollar Democratic Party fundraisers Thursday hosted by Silicon Valley executives, drawing attention to the complicated relationship between the president and the high-tech industry. For Obama, Northern California and the high-tech redoubt around Palo Alto has been a key part of Obama’s campaign money base. And it is especially attractive to politicians because it is continually expanding. “One of the dynamics that people on the East Coast and particularly in Washington, D.C., may not fully appreciate is that these folks are in a space that is growing,” said California-based Democratic consultant Chris Lehane, a former aide to President Bill Clinton.
Source: http://abcnews.go.com/Technology/wireStory/obama-taps-tech-world-cash-amid-privacy-debate-23642391