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jasonrxz
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02-Apr-2008 21:03

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NO NO NO Smiley

it should start off the trading session with green zone at least 10pts..... so let pray hard for it to be sustainable ok? can't be rally one day only.... truth will be after 2230 local time actually after the report....

cheers:

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cyjjerry85
Elite

02-Apr-2008 18:21

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anyway...din really trust futures these days...well...now let's all see what Bernanke has to offer us in his speech...besides that..we will hear tonight on the Crude Inventories, Factory Orders and ADP Employment ...and probably we might hear about some big company news? surprises are lurking everywhere in the recent trading world

Stocks set to retreat

Futures decline as investors catch their breath after surge on Wall Street; all eyes on Bernanke.

LONDON (CNNMoney.com) -- U.S. stocks were poised to pull back at Wednesday's open as investors moved to the sidelines ahead of Federal Reserve chief Ben Bernanke's testimony before Congress.

At 4:46 a.m. ET, Nasdaq and S&P futures were lower, suggesting a negative start for Wall Street.

Stocks surged Tuesday as investors hoped that the worst of the credit turmoil was over. The blue-chip Dow gained nearly 400 points, or 3.2%, and the tech-heavy Nasdaq climbed 3.7%.

But after such a run up, investors may be ready to move to the sidelines. Attention is focused on Bernanke, who is due to testify before two Congressional panels.Bernanke is to give the Joint Economic Committee an update on the economic outlook at 9:30 a.m. ET. Wednesday. He testifies on the takeover of Bear Stearns (BSC, Fortune 500), which the Fed helped broker, on Thursday.

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Fairygal
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02-Apr-2008 16:58

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It used to be that if any of the banks and financial firms announced write-downs of US$ XX billions, the market will plunge. Now, write-downs is nothing...no impact!

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cyjjerry85
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02-Apr-2008 16:40

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if yesterday rally really was an April Fool joke...then it must had been the most awful one ever

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EastonBay
Master

02-Apr-2008 16:30

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It's one day old article but it's a good article.

DAVID WEIDNER'S WRITING ON THE WALL:

Beware Of Wall Street's April Fool's Tricks April 01, 2008: 12:19 AM EST

NEW YORK (Dow Jones) -- This is no joke. On e-Bay you can buy a new Bear Stearns Cos. golf shoe tote bag for $32, a Bear Stearns T-shirt for $20, or a hat for $51. Fleece blankets are going for $20, a pewter statue of the investment bank's tower on Madison Avenue is $172, and a Bear Stearns teddy bear is $24.50.

My personal favorite: the Bear Stearns "wine stopper set," which was going for $75.

There were more than 330 Bear Stearns (BSC) items on the auction site as recently at Monday. Almost all of the tchotchkes were going for more than the $ 10 a share the investment bank sold for, and that's even after the price was renegotiated with J.P. Morgan Chase & Co. (JPM).

That a ball cap is more valuable than a stake in the company whose name is stitched above the brim is just the latest example of how Wall Street's best and brightest have snookered us.

April Fool's Day? We've had six months of it on Wall Street, and it's only become worse in recent weeks.

For instance, we were told it was a single rogue trader who brought $7 billion in losses at Societe Generale (SCGLY). The chief suspect has since been released from custody without charges and there's evidence that others were involved in the trading scandal.

Lehman Brothers Holdings Inc. (LEH) also had us duped. After its executives pledged that the firm was on solid footing, Lehman was the target of several bearish puts in the options market last week. The rumor was that Lehman was the next Bear Stearns.

Then, Lehman sued a Japanese brokerage, which Lehman claims bilked it out of $ 350 million, an amount just less than half of Lehman's fourth-quarter profit.

Bear, SocGen and Lehman fooled us once, but we can and should learn from our mistakes. Here are a few tricks to look out for in the coming months.

Paulson's plan

It looks harmless enough, but Treasury Secretary Hank Paulson's plan for sweeping regulatory reform is little more than talk. Though Paulson acknowledged that the plan would take years to implement, it's unlikely that enthusiasm for changes will carry over into the next administration.

Paulson also faces some obvious hurdles. For instance, his plan to combine the Securities and Exchange Commission with the Commodity Futures Trading Commission is sure to create a turf battle in Washington. Although the industry might welcome a single regulator, the CFTC and SEC report to different committees in Congress, and the CFTC probably won't become part of the larger SEC without a fight.

Don't be fooled: Paulson's reforms, love 'em or hate 'em, are unlikely to come to fruition.

Citi restructuring

Citigroup Inc. (C) is restructuring by putting its credit-card business into a single unit. Company officials say it's not for sale.

Don't be fooled: After exhausting the world's sovereign funds to the tune of $ 20 billion, everything at Citigroup is for sale.

Redemption

It seems to be reunion tour time on Wall Street. This time we're celebrating the scoundrel's era famous for hot Internet stocks. Frank Quattrone, the oft- prosecuted but never convicted former Credit Suisse investment banker, has returned as an adviser.

Quattrone's new firm is Qatalyst Group, which will offer mergers and acquisitions advice to the technology industry.

Henry Blodget, the disgraced analyst who misled investors when he worked at Merrill Lynch & Co., recently received a "buy" rating from BusinessWeek writer Roben Farzad who wrote: "I now admire Henry Blodget -- for his audacious reincarnation as a tech and media blogger and author. I find his work indispensably frank, stuff you see all too rarely from an ex-insider."

Don't be fooled: There are better bankers and analysts to take advice from.

Write-downs are over

Sure, there have been so many write-downs at the banks and other financial firms, how could there be more? On March 13, Standard & Poor's wondered that question aloud when it issued a report suggesting that banks would eventually write down $285 billion in mortgage-related securities.

"The positive news is that, in our opinion, the global financial sector appears to have already disclosed the majority of valuation write-downs of subprime" asset-backed securities, S&P said.

The stock market rallied after the report came out. The next day Bear Stearns was on the brink of collapse, and since then UBS AG (UBS) is reportedly looking for as much as $15 billion in investments to offset $21 billion in expected write-downs. There's also concern about the balance sheet at Merrill Lynch & Co. (MER).

Don't be fooled: Until banks have gone a year without taking big write-downs, it ain't over. In fact, you might want to hang on to your Merrill Lynch hats and UBS wine openers.

They could be your best investment.

  (END) Dow Jones Newswires
  04-01-08 0019ET
  Copyright (c) 2008 Dow Jones & Company, Inc.

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mirage
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02-Apr-2008 08:54

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MARKET SNAPSHOT

U.S. stocks cheer Lehman's ability to raise capital

Economic data aren't that great, but not as bad as feared

By Kate Gibson, MarketWatch

Last update: 4:47 p.m. EDT April 1, 2008

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NEW YORK (MarketWatch) -- U.S. stocks on Tuesday celebrated the start of a new quarter, rallying as Lehman Brothers Holdings Inc.'s equity offer drew a warm reception, fueling the Dow to its 8th-biggest point jump ever.

"Clearly there is a recognition the credit markets are healing -- usually stocks begin to rally about six months before the end of a slowdown," said Jeffrey Kleintop, chief market strategist at LPL Financial Services.

"And with earning season less than a week away, and we haven't heard a flood of negative pre-announcements," Kleintop said.

The Dow industrials climbed 391.47 points, or 3.2%, to 12,654.36, with all 30 components ending higher, with shares of Citigroup Inc. (C:

Citigroup, Inc

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C 23.84, +2.42, +11.3%) leading the way, up 11.3%.

The stock indexes solidified gains in the wake of U.S. economic data that showed the Institute for Supply Management's index inching up to 48.6% in March from 48.3% in February, topping the forecasts of analysts looking for it to slip to 47%. Read Economic Report.

"Healthy demand abroad has boosted exports of manufactured goods, offsetting some of the strain from weak domestic demand," said Michelle Meyer, a Lehman Brothers economist.

The early economic data fostered the sentiment that says, "'Hey, we're not falling through the floor on economic data,'" said Bill Stone, chief investment strategist at PNC Wealth Management. "You'll probably continue to see weak economic data, but that doesn't necessarily doom you to poor stock-market returns."

Separately, the Commerce Department reported U.S. construction spending fell 0.3% in February, less than the 1% drop predicted by economists.

'You'll probably continue to see weak economic data, but that doesn't necessarily doom you to poor stock market returns.'

? Bill Stone, PNC Wealth Management

The S&P 500 Index ($SPX:

$SPX

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$SPX, , ) added 47.48 points, or 3.6%, to 1,370.18, while the Nasdaq Composite Index (COMP:

COMP

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COMP, , ) advanced 83.65 points, or 3.7%, to 2,362.75.

The broad-based rally lifted nearly all sectors, with the Amex Securities Broker/Dealer index (XBD:

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XBD, , ) among those tallying the largest gains, along with the S&P Bank Index (BIX:

BIX

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BIX, , ) .

The Philadelphia Gold Silver Index (XAU:

XAU

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XAU, , ) was on the short list of decliners.

Volume on the New York Stock Exchange topped 4.7 billion shares, with six stocks gaining for every issue on the decline. On the Nasdaq, 2.1 billion shares were exchanged, and advancers topped decliners 3 to 1.

Crude turns

On the New York Mercantile Exchange, crude futures fell 60 cents to $100.98 a barrel, while gold futures dropped below $900 an ounce, $33.70 to close at $987.80 an ounce. See Metals Stocks.

The dollar index, which measures the greenback against a basket of currencies, was at 72.55, up from 71.749 late Monday. Read Currencies.

Lehman's offering is 'three times oversubscribed; people are interested in investing in Lehman.'

? Art Hogan, Jefferies & Co.

A big positive behind the impressive gains on Wall Street is the favorable reception to Lehman's offering. "It's three times oversubscribed; people are interested in investing in Lehman," said Art Hogan, chief market strategist at Jefferies & Co.

"Investment banks are losing money and need to raise money in the capital markets, and fortunately they are doing it," said Hugh Johnson, chairman of Johnson Illington Advisors.

Shares of Lehman (LEH:

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LEH, , ) added 17.8% after the company announced plans to offer $4 billion in convertible preferred shares. Read Financial Stocks.

"The thought being if you can raise the capital and take care of things, it takes off the table the collapse worries," said Stone.

UBS (UBS:

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UBS, , ) shares gained 14.6% after the company disclosed $19 billion in new write-downs and said that it would issue another $15 billion in shares. See full story.

Germany's Deutsche Bank AG (DB:

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DB, , ) reported a $3.9 billion write-off, mostly on leveraged loans, commercial real estate and alt-A exposures.

"It's not just a U.S. problem; it's the European banks' turn to say, 'Yeah, we had a little exposure there too,'" said Hogan, who also pointed to an index showing confidence among Japanese manufacturers at a four-year low as a way of putting U.S. economic woes in perspective.

Overseas, European shares started off the second quarter strongly, largely on gains from financials including UBS. Read Europe Markets.

In Asia, stocks closed mixed, with Nikon Corp. leading advances in Japanese technology stocks. See Asia Markets.

U.S. stocks on Monday finished the worst quarter in roughly five years with a solid advance.

Kate Gibson is a reporter for MarketWatch, based in New York.

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AK_Francis
Supreme

02-Apr-2008 08:52

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Yells: "Happy go lucky, cheers."

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Lets all , load, put to safe and watch your front, own time own targets carry on. Cheers.

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mirage
Veteran

02-Apr-2008 08:48

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Market Overview

Market Summary USAAMERICASEUROPEASIACURRENCIES

Major Market Indexes
Industry Indexes
International Indexes
Sector Performance
Rates

*DJIA*	*12,654.36*	*+391.47*	*+3.19%*

*Nasdaq*	*2,362.75*	*+83.65*	*+3.67%*

*S&P 500*	*1,370.18*	*+47.48*	*+3.59%*

Dow Util	493.18	+14.18	+2.96%

NYSE	9,088.49	+291.20	+3.31%

AMEX	2,250.77	+18.94	+0.85%

Russell 2000	710.65	+22.68	+3.30%

Semcond	358.46	+14.52	+4.22%

Gold future	887.80	-33.70	-3.66%

30-Year Bond	4.38%	+0.08	+1.76%

10-Year Bond	3.55%	+0.11	+3.29%

Market Diaries

Issues:	NYSE	Nasdaq

Advancing	2,681	2,202

Declining	500	733

Unchanged	56	113

Total:	3,237	3,048

Issues at:

52-Week High	19	45

52-Week Low	7	37

Volume:

Advancing	1,536,352,000	1,933,899,000

Declining	155,609,000	199,477,000

Unchanged	11,381,000	12,165,000

Total:	1,703,342,000	2,145,541,000

4/1/2008 8:15:00 PM

Market Screener NYSENASDAQAMEXOTC

Most Active by Volume on 4/1/2008
Symbol	Last	Change	Volume

C	23.84	+2.420	135.32M

LEH	44.25	+6.610	77.12M

SGP	14.75	+0.340	77.03M

MU	5.97	0.000	67.24M

IWM	70.79	+2.500	65.93M

MO	22.15	-0.050	64.12M

F	5.95	+0.230	55.33M

JPM	47.00	+4.050	54.56M

BAC	40.85	+2.940	52.43M

GE	38.38	+1.370	50.66M

Add symbols to My Portfolio		More...

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tanglinboy
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02-Apr-2008 07:01

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New quarter kicks off with a bang

Wall Street surges, with the Dow jumping 391 points on hopes that the worst of the credit market crisis has passed.

NEW YORK (CNNMoney.com) -- Stocks surged Tuesday, with the Dow jumping close to 400 points on the first day of the new quarter, as investors cheered signs that the companies hit hardest by the credit market crisis seem to be working through the problems.

The Dow Jones industrial average (INDU) rose 391 points or 3.2%. It was the Dow's third best day of the year on a point and percentage basis.

The broader Standard & Poor's 500 (SPX) index gained 47 points or 3.6%. It was the S&P 500's second best day of the year on a point basis and the third best day on a percentage basis.

The Nasdaq composite (COMP) jumped 84 points or 3.7% and saw its third best day of the year on both a point and percentage basis.

Wall Street reacted Tuesday to a bevy of positive developments, including a stronger U.S. dollar, better-than-expected readings on manufacturing and construction, and signs that the hard-hit financial sector is starting to recover.

"I think there's a sense that more of the pieces are being put in place that will repair our financial system," said J. Stephen Lauck, president and CEO at Ashfield Capital Partners. "It's a lengthy process, but I think the market is starting to see that it is underway."

Since the start of the year, one of the big issues has been the uncertainty about how hard the banks will be hit by the credit crisis and when they will start to move beyond it, said Art Hogan, chief market analyst at Jefferies & Co. He said that one of the hopes has been that "we'll get through the first-quarter earnings and see a light at the end of the tunnel."

Some of the developments Tuesday seemed to support such hopes, including news that Lehman Brothers is raising cash and the fact that both UBS and Deutsche Bank announced writedowns.

UBS and Deutsche Bank are European banks and Hogan said that psychologically that's important for investors.

"A lot of what has been going on in the credit derivatives market has been laid on the back of the U.S. and the U.S. dollar," Hogan said. "Today we're getting a sense that it's broader and we're seeing a recovery in the dollar and in the financial stocks."

Whether the stock advance can continue over the next few weeks will depend on a few factors. In the next two weeks, companies will continue to "pre-announce" earnings that are notably stronger or notably weaker than forecast. A lot of critical economic reports are due, including Friday's March jobs report.

Stocks rose Monday on falling oil prices and the Bush administration's proposed financial regulation overhaul. Monday was the last day of a brutal first quarter in which recession fears sent the Dow down 7.6%, the S&P 500 down almost 10% and the Nasdaq down just over 14%.

Banks and mortgage lenders. Lehman Brothers (LEH, Fortune 500) said it will raise a higher-than-expected $4 billion in preferred stock, due to stronger-than-expected demand, sending shares almost 18% higher.

UBS (UBS) said that it will seek $15.1 billion in new capital. The Swiss bank also warned that it will take a steep first-quarter loss, write down $19 billion related to bad mortgage bets and said that its chairman is stepping down. UBS jumped 14.6%.

Deutsche Bank (DB) said it would write down about $4 billion in the quarter, related to bad mortgage bets, sending shares about 3% higher.

Thornburg Mortgage (TMA) said it raised $1.35 billion in an offering, sending its stock 13% higher.

Other big bank stocks jumped as well. Citigroup (C, Fortune 500) rose rose over 11%, Bank of America (BAC, Fortune 500) rose close to 8%, JP Morgan Chase (JPM, Fortune 500) rose over 9%.

But gains were broader based, with all 30 Dow components rising.

Tech gainers Tuesday included Microsoft (MSFT, Fortune 500), Intel (INTC, Fortune 500), Hewlett-Packard (HPQ, Fortune 500), Oracle (ORCL, Fortune 500), Cisco Systems (CSCO, Fortune 500) and eBay (EBAY, Fortune 500).

On the downside, reports showed that U.S. auto sales continued to slide in March, including Ford Motor (F, Fortune 500), which saw its U.S. sales slump 14%. (Full story).

Market breadth was positive. On the New York Stock Exchange, winners topped losers by over 5 to 1 on volume of around 1.70 billion shares. On the Nasdaq, advancers topped decliners by almost 3 to 1 on volume of around 2.16 billion shares.

Economic news. The ISM's manufacturing index rose to 48.6 in March, from 48.3 in February, surprising economists who thought it would fall to 47.5, on average. Nonetheless, any reading below 50 indicates weakness in the sector.

Another report showed that construction spending fell 0.3% in February, after falling 1% in January. Economists thought spending would fall 0.9% in February.

Commodity prices. A rising dollar sent oil and metal prices lower, providing investors with some relief on the inflation front.

U.S. light, crude oil for May delivery fell 60 cents to settle at $100.98 a barrel on the New York Mercantile Exchange.

COMEX gold for April delivery fell $33.30 to settle at $882.90 an ounce.

Other markets. The dollar rose versus the euro and the yen.

Treasury prices tanked, raising the yield on the benchmark 10-year note to 3.56% from 3.41% late Monday. Bond prices and yields move in opposite directions.

novena_33 ( Date: 02-Apr-2008 06:36) Posted:

on April Fool day the mkt jump..... is this a joke or what....... anyway...STI cheong...

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novena_33
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02-Apr-2008 06:36

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on April Fool day the mkt jump..... is this a joke or what....... anyway...STI cheong...

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zhenxian
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02-Apr-2008 04:05

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DOW JONES INDUSTRIAL AVERAGE IN (^DJI)

At 4:02AM SGT: 12,656.80

393.91 (3.21%)

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huatah
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02-Apr-2008 00:34

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A beautiful week to start off for DJ.. hitting above 310 liao.. yeah..

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178investors
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01-Apr-2008 23:50

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Fengshui cycle at play.... what goes up has to come down before it resumes the next up cycle. Wall street term it rotational play. Just get use to it. For serious investors, they're more concern with long term earnings and mostly ignore the daily noise unless the noise is about impact on earnings.

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Andrew
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01-Apr-2008 23:36

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While DOW is climbing, commodity future from cotton to soya beans to zinc is falling big....1~4%

Gold is now 880USD/oz (-40USD). Oil is 100.

Why are funding running away from commodity ??

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freeme
Elite

01-Apr-2008 23:07

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haha ya.. thats why not easy to make money from stock also..

But today is April Fool.. Scarly Asia surprise us.. haha

jasonrxz ( Date: 01-Apr-2008 22:39) Posted:

Some time really think the human are really funny.... News that there are 15millions write down and prep for new stock listing will spark a 200+ rally in AMERICA.... hahaha.... anyway.... i really welcome green green and hope tomolo will be super green for asia not just STI..... cheerss,,,...

All the way for DOW JONES tonight... Pls hold or chiong more at it is now,,,,...... +245.65

Smiley

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lookcc
Master

01-Apr-2008 22:47

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2morrow unload all, waiting 4 tis day until patience drying up. Happy me 2morrow, also happy for all who r vested.

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jasonrxz
Senior

01-Apr-2008 22:39

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tanglinboy
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01-Apr-2008 22:10

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Banking industry to lose 200,000 jobs

Financial research firm says cuts will appear over 12 to 18 months as subprime crisis hits other areas of the banking industry.

GENEVA (AP) -- Analysts at financial research firm Celent say the U.S. banking industry will lose 200,000 jobs during the next 12 to 18 months.

The head of Celent's financial consultancy unit says the job cuts will occur as the subprime crisis hits other parts of the banking industry.

Octavio Marenzi said Tuesday that staff reductions were inevitable as the U.S. economy weakens further.

News from CNN. How will this affect Singapore?

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tanglinboy
Elite

01-Apr-2008 22:09

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+220 points now!

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jasonrxz
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01-Apr-2008 21:36

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+151.77 opening!!!!

HOSEI LIAO!!!!!

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