If you are like me, you are suddenly realizing that your income did not go up by 0.2%, or any percent, because if it did, it seems like you would have remembered it. And anyway, if my income DID go up, then where in the hell is all of this money?
There’s blood on the Street… plenty of it.
US stocks plunged today, with the Dow Jones industrials shedding 300 points as record crude oil prices brought inflation fears to the fore.
And news that US jobless numbers saw their steepest rise last month since 1986 didn’t help matters.
There’s little doubt that the US economy is creeping ever closer to recession.
A recent article in the Wall Street Journal reminded me of an old Sunday school lesson from years back. It applies perfectly to the stock market…”the first shall be last.”
If the Aussie market follows the U.S. lead today, look out. Before we break for lunch here in Colorado, stocks in New York are taking a beating. The Dow Jones Industrials are down nearly 200 points. And it’s such a nice day out, too.
Last week, General Electric — one of the finest companies in the world and an American icon — announced a major fall in earnings. Amazingly, the bad news surprised Wall Street. GE shares fell 13 percent in a single day. Some surprise!
For weeks at ContrarianProfits.com we’ve been warning that the Fed-inspired optimism on Wall Street would have to eventually have to face the reality of Corporate America’s earnings.
And today reality has bitten hard. US stocks fell with a loud thud following missed earnings from industrial behemoth General Electric, whose dismal earnings report casting a gloomy light on upcoming profit reports.
According to Dow Jones MarketWatch, the Dow Jones industrials shed 148.59 points to 12,433.39, with 25 of its 30 components trading in the red.
US stocks are steaming ahead as Mr Market digests the news of a $5 billion injection for mortgage lender Washington Mutual.
Rising crude oil prices have also helped boost oil-sector stocks.
Dow Jones MarketWatch reports that the Dow Jones industrials were up 104 points to 12,713, with 24 of its 30 components moving higher, with financials leading the rise.
Mr Market seems to have taken in his stride today’s dismal jobs data, sending US stocks towards weekly gains.
Despite the worst monthly cut in US payrolls in five years, US stock market indexes were poised for increases of 3% to 5%, according to Dow Jones Market Watch.
The gains come ahead of next week’s round of earnings estimates.
Wall Street headed lower today as investors digested a jump in weekly first-time jobless claims ahead of Friday’s much-anticipated employment report.
Mr Market may also be spooked by Fed chief Ben Bernanke’s second day on Capitol Hill, where he is testifying about the Fed’s recent bailout of Bear Stearns.
The Dow Jones industrials fell 57.97 points to 12,547.86, with the broader S&P 500 declined 5.54 points to 1,361.99.
Investors are rushing back into stocks, reports AP, causing the Dow Jones industrials to surge more than 300 points on the first day of the second fiscal quarter.
Financial stocks were among the big winners after Lehman Brothers Holdings Inc. and Switzerland’s UBS AG issued new stock to help bolster their balance sheets. With that upbeat news and a fresh quarter ahead of them, investors appear quite willing to make some bets that the worst of the damage from the nation’s credit struggles has been felt. Moreover, the moves buttressed the view that financial services companies are taking aggressive action to improve their capital bases and stave off the potential of a collapse similar to Bear Stearns Cos. Analysts believe there…
