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DOW & STI
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Blastoff
Elite |
02-Jul-2010 07:02
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Stocks at new 2010 lows NEW YORK (CNNMoney.com) -- Stocks slipped Thursday, but managed to trim bigger losses, after worse-than-expected readings on manufacturing, housing and the labor market fueled fears that the economy is heading for another recession. The Dow Jones industrial average (INDU) lost 41 points, or 0.4%, for its lowest close since Oct. 30. The Nasdaq (COMP) composite lost 8 points, or 0.4%, closing at its lowest point since Nov. 4. The S&P 500 (SPX) lost 3 points, or 0.3%, closing at its lowest point since Oct. 2. "The combination of a weak weekly jobless claims number and a lower-than-expected manufacturing index helped send the market sharply lower throughout much of today," said Michael Sheldon, chief market strategist at RDM Financial Group. However, on a positive note, the S&P 500 was able to touch and then bounce off a key level professional traders watch, Sheldon said, which could give the market some stability in the short term. Declines were broad based, with 23 of the Dow's 30 components lower, led by Hewlett-Packard (HPQ, Fortune 500), Merck (MRK, Fortune 500), United Technologies (UTX, Fortune 500) and JPMorgan Chase (JPM, Fortune 500) Stocks started higher Thursday as investors opted to dip back into select shares after a brutal second quarter. But the early buying fizzled after the release of the manufacturing and housing market reports. An earlier reading on weekly jobless claims added to concerns that the economic recovery is losing steam. Stocks slumped in the second quarter on worries that the European debt crisis would pressure an already struggling U.S. economy, potentially sending it into a double-dip recession. In the quarter, the Dow lost 10%, the Nasdaq lost 12% and the S&P lost just short of 12%. However, the S&P 500 is off more than 15% from its rally highs in April, a threshold that could set the stage for a bigger sell-off in the weeks ahead. In the same period, the Nasdaq lost 16.6%. "Earnings are decent and interest rates are low, but it's a nervous environment, from declines in net worth to issues of job security," said Steven Goldman, market strategist at Weeden & Co. "The public is unlikely to invest with this backdrop." Treasury prices advanced, lowering the corresponding yields. The euro rallied versus the dollar, while the dollar slumped versus the yen. Manufacturing: The Institute for Supply Management's ISM index for June fell to 56.2 from 59.7 in May. Economists expected it to dip to 59. While any level over 50 indicates expansion in the sector, the slowing pace of activity was nonetheless a worry to market participants. In other news, construction spending fell 0.2% in May, the government reported, after rising 2.3% in April. Economists thought it would fall 0.9%. Housing: The National Association of Realtors said its pending home sales index plunged 30% in May, reflecting the end of the tax rebates for homebuyers. Economists expected the index to fall 10.5%. The index rose 6% in April. Jobs: One day ahead of the government's big non-farm payrolls report for June, the weekly jobless claims report showed a rise in new claims. The number of Americans filing new claims for unemployment last week rose to 472,000 from a revised 459,000 in the previous week. Economists expected 458,000 new claims. Continuing claims, a measure of Americans who have been receiving benefits for a week or more, rose to 4,616,000 from a revised 4,573,000 in the previous week. Economists expected a drop to 4,510,000. Friday's big jobs report is expected to show that employers cut about 100,000 jobs from their payrolls last month. The unemployment rate, generated by a separate survey, is expected to have risen to 9.8% from 9.7%. A report on private sector hiring released Wednesday showed employers added 13,000 positions in June, missing forecasts for a gain of 61,000. Autos: Car and truck makers were releasing June sales figures through the session. General Motors said sales rose 36% from a year earlier, but dipped 12.5% from May. That month-over-month decline was bigger than what economists surveyed by Briefing.com were expecting, providing another indication that the economy is weakening. Ford Motor (F, Fortune 500) said June sales climbed 15% versus a year earlier, but down 13% from May, short of expectations. World markets: European markets stumbled across the board, with Britain's FTSE 100 losing 2.3%, Germany's DAX giving back 1.8% and France's CAC 40 falling 3%. Asian markets slipped as well, with Japan's Nikkei falling 2%, Hong Kong's Hang Seng down 0.6% and the Shanghai Composite off 1%. Commodities: U.S. light crude oil for August delivery fell $2.68 to settle at $72.95 a barrel on the New York Mercantile Exchange. COMEX gold for August delivery fell $39.20 to settle at $1,206.70 an ounce. Bonds: Treasury prices climbed, lowering the yield on the 10-year note to 2.93% from 2.95% late Wednesday. Treasury prices and yields move in opposite directions. Market breadth: Market breadth was negative. On the New York Stock Exchange, losers beat winners three to two on volume of 1.6 billion shares. On the Nasdaq, decliners topped advancers by two to one on volume of 2.68 billion shares. |
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pharoah88
Supreme |
01-Jul-2010 10:31
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SUPER GERMAN POWER at 90 fOrever yOung ? What dOes he eat ? |
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pharoah88
Supreme |
01-Jul-2010 10:25
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Updated: 30/06/2010
Thailand charges Australian, 90, with raping four sistersA 90-year-old Australian man has been charged with illegally detaining and raping four young sisters at his home in northern Thailand, police said Wednesday. German-born Joseph Kraus Karl was arrested at his house in Chiang Mai province on Tuesday after police received a complaint from the children's father. The Thai girls, aged seven, 11, 12 and 14, were allegedly abused repeatedly after being invited to visit Karl's property in 2008. "Initially he denied all charges and will only testify in the court," said police Colonel Kritapol Yeesakorn. Karl, who faces a maximum of 20 years in prison if convicted, was born in Berlin. He later obtained Australian citizenship but police said he has lived in Thailand for "many years" on a retiree visa. |
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pharoah88
Supreme |
01-Jul-2010 10:22
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The Warnings BP Seems to Have Ignored
By Ian Cooper | Wednesday, June 30th, 2010
Rife with comical absurdity, “Drill Baby Drill” mentality assumes that we're smart enough to drill for oil offshore. But the BP disaster in April did a heck of a job disproving that... All BP had to do was heed the warnings over blow-out protectors (BOPs) — which ultimately failed and contributed to the fireball over the Gulf of Mexico — and BP most likely wouldn't be in the mess it finds itself in today... But that's what happens when people don't listen BP's blowout protector was a 325 ton, $15 million beast that sat at the bottom of the Gulf, controlling pressure or shutting down flow if something went wrong. Had it been working properly, it would've kept gas from running up too quickly into the rig, which is exactly what happened and what sparked the explosion of Deepwater Horizon. But had BP listened to warnings, the Gulf wouldn't be full of oil. |
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Hulumas
Supreme |
01-Jul-2010 08:57
Yells: "INVEST but not TRADE please!" |
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Since you say so, I 'll do accordingly. Thank you.
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boyikao3
Master |
01-Jul-2010 08:50
Yells: "Money or reputation ?" |
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Buy Buy Buy ! Buy on Recovery ! Sell on crash ! 
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Hulumas
Supreme |
01-Jul-2010 08:42
Yells: "INVEST but not TRADE please!" |
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96 points drop you call it DIVE, how about 960 points drop then? | |||||||||||||||||||||||||||||||||||||||||||||||||
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Blastoff
Elite |
01-Jul-2010 07:05
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Stocks dive as second quarter endsNEW YORK (CNNMoney.com) -- Stocks finished lower after a late-session retreat, as investors piled out of a downbeat quarter that ended with Wednesday's session. The major indexes had teetered on either side of breakeven throughout the day as investors weighed a weak jobs report against an improved European bank outlook that provided earlier support. .png) But all three indexes turned down sharply as the session ended. The Dow Jones industrial average (INDU) lost 96 points, or 1%, to finish at 9,774.02. The S&P 500 (SPX) closed down 1% at 1,030.71 and the Nasdaq (COMP) lost 1.2% to end at 2,109.24. All three indexes' closing figures were the lowest since late 2009. Declines were broad-based, with 29 of the 30 Dow components ending lower Wednesday. Diversified manufacturer 3M (MMM, Fortune 500) managed to hold an 0.6% gain. Wednesday's session marked the end of the second quarter, during which the blue-chip Dow fell more than 10% on concerns about Europe's debt and the overall global economy. The Nasdaq and S&P 500 each lost 12% in the second quarter. Year-to-date, the Dow is off 7.7%. The Nasdaq and S&P 500 are both down 9% over the first half of the year. Wednesday in focus: The ADP report showed less of a private sector job-market gain than economists had hoped, denting stocks trying to recoup losses from the prior session. "We have a couple of cross-currents going on ahead of the July 4th weekend," said Fred Dickson, chief market strategist at D.A. Davidson & Co. "ADP was disappointing, but overnight we found out European banks didn't need as many loans as we thought," he added. Worries about the pace of the global economic recovery slammed stocks around the world Tuesday. The S&P 500 tumbled 3.1%, following a sharp drop in Asia and Europe after a report suggested growth in China would slow in the second half of 2010. Economy: The report on private sector jobs from payroll processing firm ADP showed the U.S. economy gained 13,000 jobs in June. The figure was significantly less than the 61,000 increase forecast from economists surveyed by Briefing.com, after a revised gain of 57,000 in May. The ADP report came ahead of the all-important employment report released by the U.S. government on Friday. European bank concerns ease: Stock losses were limited on news that European banks sought fewer loans than anticipated. The European Central Bank said demand for an offering of 3-month loans was weaker than expected, implying that European banks are not in as much trouble as investors had previously thought. A total of 171 banks borrowed €131.9 billion from the ECB, less than the €210 billion analysts had expected the central bank would need to lend, according to a Reuters poll. The ECB's year-long lending program is slated to expire Thursday, so investors have been worried banks that have become dependent on that liquidity will feel the crunch. World markets: Economic woes continued to hammer markets in Asia Wednesday, where stocks extended losses. The Shanghai Composite lost 1.1%, Japan's Nikkei tumbled 2% and the Hang Seng in Hong Kong declined 0.6%. European shares managed to hang on to gains. Britain's FTSE 100, France's CAC 40 and the DAX in Germany all closed slightly higher. Companies: Executives from Goldman Sachs (GS, Fortune 500) and AIG (AIG, Fortune 500) testified before a special committee looking into the financial crisis about derivatives. Joseph Cassano, the man who ran the business at the center of AIG's collapse, defended his tenure at the insurer and maintained he led efforts to shield the company from fallout. Dollar and commodities: The dollar was lower against the euro but up versus the Japanese yen and the British pound. U.S. light crude oil for August delivery fell 31 cents to $75.63 a barrel. Over the course of the quarter, oil prices lost 9.7%. Prices have gained every quarter since the last quarter of 2008, when they plunged by 55.7%. COMEX gold's August contract was up 40 cents at $1,242.80 per ounce. Bonds: Treasury prices fell, pushing the yield on the 10-year note up to 2.95%. On Tuesday, the yield dropped below the critical 3% level for the first time since April 2009. Bond prices and yields move in opposite directions. |
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iPunter
Supreme |
30-Jun-2010 20:47
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If the Dow is green tonight, tomorrow's shorts will get good prices... |
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Blastoff
Elite |
30-Jun-2010 19:15
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Stocks look for recoveryLONDON (CNNMoney.com) -- U.S. stocks were poised to rise Wednesday as investors cast their eyes on recovering some of the previous session's big losses. Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were narrowly higher.
Worries about the pace of the global economic recovery slammed stocks around the world Tuesday. The S&P 500 tumbled 3.1%, following a sharp drop in Asia and Europe. One of the triggers for the selloff was a report that suggested growth in China would slow in the second half of 2010, which raised worries about the prospect of a global economic slowdown.
World markets: Economic woes continued to hammer markets in Asia Wednesday, where stocks extended losses. The Shanghai Composite lost 1.1%, Japan's Nikkei tumbled 2% and the Hang Seng in Hong Kong declined 0.6%. European shares struggled but were in positive territory in morning trading. Britain's FTSE 100, France's CAC 40 and the DAX in Germany were all modestly higher in the early going.
Companies: Executives from Goldman Sachs (GS, Fortune 500) and AIG (AIG, Fortune 500) will testify before a congressional committee on derivatives.
Bonds: Treasury prices fell, pushing the yield on the 10-year note up to 2.97% from 2.96% late Tuesday, the first time the yield has fallen below the critical 3% level since April 2009. Bond prices and yields move in opposite directions. |
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Hulumas
Supreme |
30-Jun-2010 15:29
Yells: "INVEST but not TRADE please!" |
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Now, it turns to American or Germany starting the third world war, if existed? Please have your wild guess!
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pharoah88
Supreme |
30-Jun-2010 15:16
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GERMANY started 2nd World War tOO | |||||||||||||||||||||||||||||||||||||||||||||||||
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niuyear
Supreme |
30-Jun-2010 14:33
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German started the 1st world WAR. :)
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Hulumas
Supreme |
30-Jun-2010 14:33
Yells: "INVEST but not TRADE please!" |
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Just too much personal interest and egoism persisted by them! Where are Mr. FAIR and Mdm. WISDOM ?
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nickyng
Supreme |
30-Jun-2010 14:30
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lesser RED....wow! isn't this erection interesting ?!? :P no VIAGRA! :P
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Hulumas
Supreme |
30-Jun-2010 14:24
Yells: "INVEST but not TRADE please!" |
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White becomes black from their eyes. Let it be........ let it be........ What should we do? We are ordinary people!
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nickyng
Supreme |
30-Jun-2010 14:24
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gee..surprisingly...STI is less RED now...Thailand mkt is GREEN...wow!! :P
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pharoah88
Supreme |
30-Jun-2010 14:23
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Petraeus, the loneliest man in America For the general, escalating an unpopular war in Afghanistan might be just as hazardous as not doing so Simon Tisdall
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Hulumas
Supreme |
30-Jun-2010 14:22
Yells: "INVEST but not TRADE please!" |
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If you blamed Germans ........ with the same analogy, Singapore is to be blamed too.
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alooloo
Veteran |
30-Jun-2010 14:21
Yells: "I am not young enough to know everything. " |
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World war 3 prelude? | |||||||||||||||||||||||||||||||||||||||||||||||||
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