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tanglinboy
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25-Sep-2006 22:02
Yells: "hello!" |
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Dow is up 22 points now | |||||||||||||||||||||||||||||||||
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billywows
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25-Sep-2006 18:22
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Fueling a rally
Stock futures rally after oil sinks below $60 for first time since March; housing numbers due.
NEW YORK (CNNMoney.com) -- Stocks looked poise to get a lift from oil prices falling below $60 a barrel Monday. S&P and Nasdaq futures rose, indicating a higher start for Wall Street, after U.S. light crude sank below $60 for the first time since late March. Oil prices fell on news that BP (Charts) moves up plans to restart production from the Prudhoe Bay field, as well as a report that Iran is prepared to talk about its nuclear program. U.S. light crude lost 86 cents to $59.69 a barrel in electronic trading, while Brent crude traded in London dropped 93 cents to $59.48. The last time oil dipped below $60 was March 21. Stocks could take a hit from the latest reading of the slowdown in real estate, with home sales numbers due shortly after the market opens (10pm S'pore time tonite). Economists surveyed by Briefing.com forecast that sales of existing homes fell to an annual rate of 6.25 million in August from 6.33 million. |
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billywows
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24-Sep-2006 11:37
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Nasdaq badly whacked last week after HP's boardroom leak scandal ...... Will recover from tomorrow's DELL press conference (see below). Shiok! ----------------------------- |
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billywows
Elite |
24-Sep-2006 11:24
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According to this article below (dated 22/9/2006), Morningstar has a current value of Dow at 12,623.00 .... It closed 11,508.00 on last Friday's trading. Interesting ... if one can ignore the 'noise' of the market and stay focus. When US market up, STI will follow suit ... like mother and son. ------------------------------ What's the Dow's Worth As of the close of business on Sept. 20, we estimated the Dow's fair value to be 12,623, about 8.7% higher than its actual closing price of 11,613 on that day. In other words, we think the Dow as a whole is roughly 9% undervalued today. It's worth noting that the market closing price on this date was within 100 points of the Dow's all-time high set in early May of this year. http://news.morningstar.com/article/article.asp?id=174110 |
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chipchip66
Master |
23-Sep-2006 23:08
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My take is with you Billywows! | |||||||||||||||||||||||||||||||||
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billywows
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23-Sep-2006 23:02
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Re-posting next week's US data below for dates and timings. Very exciting next week! Market will play stong see-saw ....... Hang on for the ride as it's the last week of September. Shiok! A 'UPTREND' take for me next week ... cos its timely so before weak October begins.
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Nostradamus
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23-Sep-2006 20:41
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Equities appear ripe for further losses in coming week. US stocks face a second week of heavy economic data as well as the end-of-quarter earnings warning season. Next week's schedule for data releases includes figures on core consumer inflation, personal income and spending, as well as consumer confidence. A number of Federal Reserve officials are scheduled to make speeches, including Federal Reserve Bank of St. Louis President William Poole, who will speak on the issue of data dependence Friday. Poole will be a voter on the Fed's rate-policy committee, beginning with the two-day meeting on Oct. 24 and 25 through next year. After the Philly Fed report, December fed funds, for the first time, started pricing in a small chance of a rate cut to 5% from 5.25%. By Friday, the odds had risen to 26%. Bets on a rate cut are premature. |
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fbnc1618
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23-Sep-2006 19:53
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DJIA retreated 25 points to 11,508 last night. This could confirm that the 'correction' (if any) could have been deferred to Oct. DJIA should move further downward to clear the 11,450 before bouncing back again. When the next upward movement test the 11,700 level again, we need to monitor it very closely for sign of 'correction' (if any and many believe so) | |||||||||||||||||||||||||||||||||
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chipchip66
Master |
23-Sep-2006 19:23
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With the contraction, US is creeping towards recession unless the Fed do something like rate cuts to spur domestic spending. With that in mind, interest rates in Singapore will also move lower in tandem. This will be good for Singapore as it will sustain the high ownership of cars and homes. | |||||||||||||||||||||||||||||||||
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Nostradamus
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23-Sep-2006 19:07
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Wall Street's growing pessimism about the economy sent stocks down for a second straight day, as investors lost the enthusiasm that followed Wednesday's Federal Reserve decision to leave interest rates unchanged. The market was caught off guard Thursday by a report from the Federal Reserve Bank of Philadelphia that showed regional manufacturing activity fell to a negative reading for the first time in more than three years. Philadelphia manufacturing data was weak, with the general economic index tumbling to -0.4 this month from Aug's 18.5, the steepest monthly decline since Jan 01. A figure below zero signals a contraction. |
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Nostradamus
Supreme |
23-Sep-2006 00:04
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Did you know that NYSE 214-year history? Stretching all the way back to 1792. It has a total market value of roughly US$21 trillion as of December 2005. | |||||||||||||||||||||||||||||||||
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Nostradamus
Supreme |
22-Sep-2006 23:55
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Wall Street was caught off guard Thursday by a report from the Federal Reserve Bank of Philadelphia that showed regional manufacturing activity fell to a negative reading for the first time since April 2003. Prior to the report, the Dow Jones industrial average had been within 100 points of its January 2000 high of 11,722.98. Previously such reports would cause a rally as they show the economy is slowing, but now they would cause the market to fall. It's just the traders causing a rise or a fall. Now, they want Wall Street to fall. |
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fbnc1618
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22-Sep-2006 21:45
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It is a relief that DJIA pulled back last night. It is scary when it approaches nearer to the 11,700 level which is at the Fibonacci 1.618 retracement mark. The 'expected correction' could have been deferred to the spooky month of Oct. | |||||||||||||||||||||||||||||||||
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billywows
Elite |
22-Sep-2006 21:33
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Dow and Nasdaq opened down ...... Speculation that the Organization of Petroleum Exporting Countries will cut crude oil production to combat falling price could also be a source of investor concern.
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billywows
Elite |
22-Sep-2006 07:48
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Dow down 79 points, while Nasdaq down 15 points last nite ..... Sigh! Below shows why economic data is important and could swing markets up and down. Watch out for next week as its the last week of September to chiong!!! --------------------------- |
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cashiertan
Elite |
22-Sep-2006 01:24
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Sorry to say but that DOW is now 200+ points away from the peak... | |||||||||||||||||||||||||||||||||
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Nostradamus
Supreme |
22-Sep-2006 00:29
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Dow is about 100 points away from its all-time high of 11,722.98 reached in January 2000. | |||||||||||||||||||||||||||||||||
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chipchip66
Master |
22-Sep-2006 00:08
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Tks billy for the US updates!! | |||||||||||||||||||||||||||||||||
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Nostradamus
Supreme |
21-Sep-2006 23:52
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Home sales data are likely to be bad which would cause Wall Street to fall. The rest of the data may show a slowing economy which would cause the rally to continue. | |||||||||||||||||||||||||||||||||
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Nostradamus
Supreme |
21-Sep-2006 23:48
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A closely watched gauge of future economic activity slipped in August for the second consecutive month, suggesting that the U.S. economy is cooling.
The Conference Board, an industry-backed research group, said Thursday its Index of Leading Economic Indicators edged 0.2% lower to 137.6 last month. The decline matched analysts' expectations. The index also fell 0.2% in July after edging up 0.1% in June. The index is designed to predict economic activity 3-6 months in the future. The report offers another indication that U.S. economic growth will slow in the coming months. "It's primarily driven by the weakness in housing," said Gary Thayer, chief economist at A.G. Edwards & Sons Inc. in St. Louis. "With the housing market down considerably over the last year, it's a drag on the economy, and it's dampening market growth overall." The release of the leading indicators followed a government report earlier Thursday that the number of newly laid-off workers filing for unemployment benefits rose last week by the largest amount since early August. The Labour Department said that 318,000 workers filed claims for jobless benefits, up by 7,000 from the 311,000 benefit applications filed the previous week. The Conference Board's index of coincident indicators, which measure current economic activity, rose by 0.1% in August to 123.3, while its index of lagging indicators, which measure past performance, rose by 0.3% to 124.2. |
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