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 STOCK MARKET - US 
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Post STOCK MARKET - US
* OCTOBER 30, 2009, 1:09 P.M. ET

US Stocks Drop Lower Yet; DJIA Off 230 As Fincls Weigh

By Donna Kardos Yesalavich and Geoffrey Rogow


NEW YORK (Dow Jones)--Friday's declines in U.S. stocks steepened by the afternoon, wiping out Thursday's huge gains as a herd mentality had more sellers piling in before the month closes out, hitting the financial and materials sectors the hardest.

The Dow Jones Industrial Average was recently down 230 points, or 2.3%, at 9732. At its intraday low, it was close to dropping below 9700. All its 30 components were in the red recently, with Alcoa - which had the biggest gains Thursday - dropping 5.8%. Financial components Bank of America and JPMorgan also weighed heavily on the measure, tumbling roughly 4% each.

While a quote-delay issue at the New York Stock Exchange, which has since been resolved, was cited by traders as prompting a panic shortly before noon that contributed to part of the decline, stocks continued to slide from there in what traders attributed to investors' herd mentality.

Traders also pointed to comments from billionaire investor Wilbur Ross on Bloomberg Radio Friday, saying a "huge crash in commercial real estate" is beginning, as adding to the worries across the financial sector. Ross, the chairman of WL Ross & Co. LLC, said occupancy and rent rates are falling while the rate of return that potential investors are seeking is rising.

con.

http://online.wsj.com/article/BT-CO-200 ... 16098.html


as of 2:37pm:

Symbol Name Last Trade Chang e Related Info

^DJA Dow Jones Composite Average 3,258.80 2:42pm ET Down 76.27 (2.29%)

^DJI Dow Jones Industrial Average 9,722.18 2:42pm ET Down 240.40 (2.41%)

^DJT Dow Jones Transportation Averag 3,615.30 2:42pm ET Down 88.35 (2.39%)

^DJU Dow Jones Utility Average 363.46 2:42pm ET Down 6.47 (1.75%)

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Fri Oct 30, 2009 11:45 am
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Post Re: STOCK MARKET - US
remember,

40% of the "activity" of the stock market is manipulated by the PPT on a daily basis.

In the real world it should be sputtering along at about 5500

12+ million Americans lost their jobs in the past 16 months.

Do the math.


Sun Nov 08, 2009 5:32 pm
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 Re: STOCK MARKET - US
Agreed, shane. I just wonder how long they can keep it up - not much longer I think. Check out the close for the DJIA today - Could this be deliberate manipulation? or some other force giving a message? I don't believe in coincidences. :shock:

^DJI Dow Jones Industrial Average 10,426.31 4:03pm ET Down 11.11 (0.11%)

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Wed Nov 18, 2009 3:25 pm
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Post Re: STOCK MARKET - US
Check this out - posted by an ac at GLP as was the above.

Dow 10,426 -11 -0.11%
Nasdaq 2,193 -11 -0.48%
S&P 500 1,110 -1 -0.05%

http://www.marketwatch.com/

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Wed Nov 18, 2009 3:51 pm
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Post Re: STOCK MARKET - US
Hat tip to Freethinker at GLP

NYSE Invokes Rule 48 In Anticipation Of Extreme Volatility
Tyler Durden's picture
Submitted by Tyler Durden on 11/27/2009 09:49 -0500

The NYSE hedged its bets earlier by invoking the rarely used Rule 48, which "provides the exchange with the ability to suspend the requirement to disseminate price indications and obtain floor-official approval prior to the opening when extremely high market-wide volatility could cause delay opening securities on the exchange." The full disclosure was made on the NYSE blog:

Rule 48 is intended to be invoked only in those situations where the potential for extreme market volatility would likely impair floor-wide operations at the exchange by impeding the fair and orderly opening of securities. Accordingly, the rule sets forth a number of factors to be considered before declaring such a condition, including:

* Volatility during the previous day’s trading session;
* Trading in foreign markets before the open;
* Substantial activity in the futures market before the open;
* The volume of pre-opening indications of interest;
* Evidence of pre-opening significant order imbalances across the market;
* Government announcements;
* News and corporate events; and,
* Any such other market conditions that could impact floor-wide trading conditions.

And some other "do not panic, we have nothing under control" information dissemination by the NYSE:

The invocation of Rule 48 is in effect only for today. Previously, the NYSE invoked the rule on 11 March, 2008; 23 Jan., 2008; 22 Jan., 2008; and 12 Dec., 2007. The rule was approved by the Securities and Exchange Commission on 6 Dec., 2007.





Now add 17 March, 2008 to the list. I kind of had an uneasy feeling all weekend about Bear Stearns, and felt even worse upon seeing the announcement on Sunday night. To my train buddy at Bear Stearns and his colleagues, I'm sorry to see this happen.



And just for reference, here's a link to our circuit breakers. Here's hoping we don't need them today. Or any other day, for that matter.



Good luck today, everyone.

http://www.zerohedge.com/article/nyse-i ... volatility

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Fri Nov 27, 2009 11:32 am
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Post Re: STOCK MARKET - US
Warning: The Stock Market Is Extremely Overvalued Right Now
By Tom Dyson

Andrew Smithers is a world expert in stock market valuation...

Smithers is an "econometrician." He studies stock market statistics going back more than 100 years and creates indicators from these statistics to judge whether the stock market is cheap or expensive. His two favorite valuation indicators are named the "CAPE" and the "q."

CAPE stands for Cyclically Adjusted Price Earnings. You've heard of the price-to-earnings ratio. CAPE is like the P/E ratio, except it smoothes earnings over 10 years to take out the impact of booms and busts. CAPE data go back 127 years.

The q is a ratio of stock prices to asset values. You've heard of the price-to-book ratio. Book value is a company's "net worth" after you add up all the assets and subtract all the liabilities. The q is like the price-to-book ratio, except instead of book value, it uses the replacement cost of assets. Replacement cost is closer to reality than book value, as it reflects price inflation. Data for q go back to 1900.

In March 2000, Smithers and another economist, Stephen Wright, published a bestselling book titled Valuing Wall Street. In this book, they explained these indicators and used them to show the stock market was as much as 2.5 times overvalued at the end of 1998.

"The end of the twentieth century was almost certainly the very best time in the entire century to sell stocks," they concluded. The Nasdaq bubble collapsed the month their book arrived in bookstores.

Before the recent credit crunch, Smithers was sounding the alarm again...

In a January 2008 article, Smithers wrote, "Stock markets are vulnerable because they are overpriced... Investors should be aware that the downside potential for asset values looks far greater than the upside."

Right now, Smithers' indicators show the stock market is more than 40% overvalued. (At the most recent data point – September 17, 2009, when the S&P was at 1,069 – q showed the market was 41% overvalued and CAPE showed the market was 37% overvalued.)

At 40% overvalued, the market is the most overvalued it's ever been except for the peaks in 1929, 2000, and 2007.

"The S&P 500 is priced to deliver one of the weakest 10-year total returns in history except for the (ultimately disappointing) period since the mid-1990s," says Smithers.

To see a chart of the q and CAPE going back 100 years, click here <http://clicks.dailywealth.com//t/AQ/tnU/vDU/AAEKoA/AQ/AuyKaw/MvDw>.

Here's the thing that scares me: Smithers' ratios move like yo-yos around an average. Economists would call them "mean-reverting," meaning they bounce from overvalued to undervalued.

In 2000, both indicators hit extreme highs. Both were almost double the previous record stock-market overvaluation, recorded in 1929. This leads me to think we'll see extreme levels of undervaluation in these indicators at some point in the future.

If these indicators reach the same levels of undervaluation they hit at the market bottoms in 1921, 1932, 1949, or 1982, the S&P would need to fall to around 400...

In sum, you should be careful with the stock market right now. It's extremely overvalued from a historical perspective and there's the potential for a major decline in stock valuations over the next decade.
On the other hand, keep an eye on Smithers' chart. When the q and the CAPE fall below –0.4, this will be the moment to begin investing heavily in stocks again. :hmm

Good investing,

Tom

http://clicks.dailywealth.com//t/AQ/tnU ... uyKaw/fOa7


Tue Dec 08, 2009 8:34 am
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Post Re: STOCK MARKET - US
Six hazards facing the stock market
With outlook murky, historic rally is on hold until clouds lift
By John W. Schoen
Senior producer
msnbc.com
updated 11:57 a.m. CT, Thurs., Feb. 25, 2010

Nearly a year after the stock market began one of the biggest rallies in history, investors have begun to worry that this bull may be getting wobbly. There’s no shortage of cause for concern.

When last year’s financial meltdown sent investors hiding for cover, the market’s collapse was swift and ugly. When it appeared that the worst was over, stocks roared back with a 68 percent gain from March lows.

Now, with government stimulus fading, stubbornly high unemployment and the Federal Reserve signaling that interest rates may begin rising in a few months, investors seem to be having second thoughts.

Until a clearer outlook emerges, the market will likely remain stuck in neutral. Here are six market hazards to keep an eye on.

Corporate profits
The greatest single force driving the price of a company’s stock is its profitability. The news on that front has been outstanding. More than 70 percent of fourth-quarter earnings reports from Standard & Poor's 500 companies came in higher than expected, according to Thomson Reuters data. Overall, profits have returned to roughly where they were before the recession began.

But that's all history. On Wall Street, stocks trade on the prospects for future profits. And it's not at all clear whether the profits we saw in the fourth quarter are sustainable. The gains follow a historic round of layoffs and other cost-cutting combined with massive government stimulus spending and a flood of money from the Fed.

That means companies have been squeezing more profit out of each dollar of sales. Now, investors are looking for convincing signs of growth in those top line sales numbers. And many say they're just not seeing it.

"People, I think, are in a sour mood," said Bob Doll, chief investment strategist at Blackrock, an asset management firm. "They're looking at the glass as half-empty. I think we're going to have to show them some good news to get moods improving."

Recent data on consumer sentiment show just how bad the mood is. On Tuesday, The Conference Board reported that its consumer confidence index dropped sharply to a 10-month low in February after advancing for three months. Worries about the job market were a big reason for the drop, the group said.

The economy
The good news everyone is waiting for will have to come from economic data. For the time being, investors are still waiting.

On Thursday, the market sold off on news that new unemployment claims rose more than expected in the latest week and durable goods orders last month were disappointing. On Wednesday, the government reported that the annual pace of new home sales in January plunged to a record low of 309,000 units.

"The data we've seen over the last couple days certainly does not look good," said Warren Meyers, CEO of Wall Street trading firm Walter J. Dowd. "The jobs numbers today was very weak. The housing number yesterday was horrible."

That's a sharp reversal from a string of positive economic data in the second half of last year that fueled market euphoria as the government’s huge spending effort began to restart growth.

The housing market perked up after tax credits were handed out to home buyers; the Cash for Clunkers program helped spur car sales. The good news culminated in a preliminary report that the gross domestic product surged at an annual rate of 5.7 percent in the last three months of 2009.

But a closer look at the numbers has given some analysts pause. More than half the fourth-quarter GDP growth came from companies restocking inventories after slashing them to the bone last year. Overall demand for goods and services has yet to return to “normal” levels.

Wall Street's bulls argue that the economic momentum of the last six months — even it it was the result of a huge stimulus shot in the arm — is strong enough to get the rest of the economy moving ahead once that stimulus spending wears off.

"The vast majority of the information and data suggests we're well into a recovery here in the United States and globally," said James Paulsen, chief investment strategist at Wells Capital Management. "It's not likely to turn back."

No matter what the GDP data show, most investors will want to see solid evidence of a reversal of the massive job losses that have sidelined more than eight million workers since the recession began in December 2007. And that won’t come until government employment data begin showing net gains of 100,000 or so jobs a month.

"Either they're going to show up in the next couple of months or we're going to be talking about double-dip recession again," said Paulsen. "That's where the mentality is going to go." :shock:

Housing
Also unclear is whether the housing market has hit bottom and will get back on its feet this spring. Several factors could derail what appear to be early signs of a housing recovery.

One is the overhang of inventory from home foreclosures. Though inventory levels have begun to fall back to relatively healthy levels, some analysts warn of a large “shadow inventory” that isn’t showing up in the official statistics. With roughly one in three mortgage holders owing more than their house is worth, and unemployment near its highest level in a quarter-century, default rates are expected to remain high into 2011. So far, efforts by the government and lending industry to head off foreclosures just haven’t worked.

The housing market has also gotten major support from the Fed’s huge buying spree of bonds’ backed by home mortgages. The central bank has said it will suspend those purchases when the $1.25 trillion program ends next month. That could send mortgage rates higher. No one knows how high.

Interest rates
The stock market’s record run has also gotten a big boost from the Fed’s “zero” interest rate policy. More than the government’s $700 billion TARP bailout, the policy of letting banks borrow at record low levels has helped the industry repair the giant hole left on its books from the collapse of the housing market. Until there are clear signs the economy is solidly back on its feet, many professional investors expect the Fed to keep rates low.

But Fed policymakers have been signaling that the policy won’t last forever. On Capitol Hill this week, Fed Chairman Ben Bernanke sought to calm concerns over a recent increase in the "discount" rate offered to banks in need of emergency loans. Bernanke said rates would remain low for some time as a way to cushion the blow from high unemployment.

The Fed has also begun shutting down an alphabet soup of emergency lending programs set up at the depths of the financial crisis in 2009.

Europe
With one eye on the U.S. central bank, investors have the other on the tough choices facing European bankers, amid rising concerns that Greece may default on its government debt. Larger European countries like France and Germany are reluctant to bail out the free-spending Greeks until they see evidence of tough austerity measures. But a series of strikes in response to calls for wage cuts and tax hikes have cast doubt on those measures.

Opinion is split on the outcome. Bailing out Greece could simply encourage overspending by other Eurozone governments. But if Greece is allowed to default, the worry is that other heavily indebted European countries may not be far behind.

Europe's monetary stalemate also highlights a wider problem weighing on the Eurozone's unified economy as it struggles through the worst downturn since the region consolidated around a single currency a decade ago.

"The problem with a lot of the European countries is they don't have an independent way to stimulate their economies right now," said Jay Bryson, a global economist at Wells Fargo Securities. "Monetary policy is in the hands of the (European Central Bank). Most of their exports go to each other. They can't devaluate or depreciate their currencies. So you're looking at no way to stimulate the economy."

The dollar
As a result of Europe’s financial strains, global investors have been selling the euro and buying the dollar, boosting its value.

A stronger dollar helps ease upward pressure on interest rates because it helps support demand for dollar-denominated U.S. Treasuries. But if you own stock in a large multinational company that does a lot of business in Europe, the drop in the euro's value dilutes profits when they’re converted back into dollars.

A stronger dollar could also hurt U.S. exporters to European markets, who will lose the price advantage against competitors.


http://www.msnbc.msn.com/id/35467215/ns/business-answer_desk/

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Thu Feb 25, 2010 3:48 pm
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Post Re: STOCK MARKET - US
Dow falls almost 1000, recovers 600 :awe
By Alexandra Twin, senior writer May 6, 2010: 3:08 PM ET


NEW YORK (CNNMoney.com) -- Stocks selloff sharply Thursday, extending the recent downturn as investors continue to worry about the effects Europe's debt problems can have on the global economic recovery.

The Dow Jones industrial average (INDU) lost as much as 997.21 points in volatile trading. At 3:00 p.m. it was down 410 points, or 3.8%. The Dow's biggest one-day point selloff on a closing basis was Sept. 29, 2008, when it fell 777.68.

The S&P 500 index (SPX) slipped 63 points, or 5.4%. The Nasdaq composite (COMP) dropped 127 points, or 5.3%. :shock:

"It's a knee-jerk reaction to the continued problems in Europe, Greece in particular, possibly Portugal, Spain, the U.K.," said Ted Weisberg, NYSE Floor trader, Seaport Securities.

Stocks have been sliding on and off for the last two weeks as investors mull the ramifications of the growing debt crisis in Europe. While European leaders have pledged to provide Greece with $146 billion in loans over the next three years, attempts by the nation to institute certain "austerity" measures to bring down the deficit have sparked riots and other violent outbursts.

Meanwhile, investors are concerned that the size of the bailout will make Europe less able to help Spain, Portugal and other debt-plagued nations. The so-called PIIGS also include Italy and Ireland.

"There's no question that Europe and Greece and specifically the fear of contagion is what's driving the market lower," said Hank Smith, chief investment officer at Haverford Investments.

"Having said that, we also have to be cognizant that the market was due for a pullback at a minimum, and possibly a correction," he said.

He noted that the market hasn't had a correction - technically defined as a selloff of 10% on a closing basis - for at least 14 months. :hmm

The euro plunged to a fresh more than one-year low versus the dollar Thursday, pressuring dollar-traded oil prices. Oil prices and energy stocks were also vulnerable in the aftermath of the Gulf oil spill.

A slew of good but not great retail sales reports from the nation's retailers, a report that showed weekly jobless claims dropped were also in focus.

The CBOE Volatility (VIX) index, Wall Street's so-called fear gauge, spiked 21% to a fresh high of 30.19, topping levels not seen since Nov. 4. The VIX is also up over 89% since falling to three-year lows in mid-April.

Watch Greece but don't forget America
Economy: The number of Americans filing new claims for unemployment fell to 444,000 last week from a revised 451,000 the previous week. Economists surveyed by Briefing.com thought claims would fall to 440,000.

Continuing claims, a measure of Americans who have been receiving benefits for a week or more, fell to 4,594,000 from a revised 4,653,000 in the previous week. Economists expected 4,600,000 continuing claims.

The report was released one day ahead of the government's closely-watched April jobs report, due Friday morning. That report is expected to show employers added 187,000 jobs to their payrolls after adding 162,000 in March. The growth is considered a step in the right direction, but the number of new jobs is not yet enough to keep up with the number of new entrants in the labor market.

The unemployment rate, generated by a separate survey, is expected to hold steady at 9.7%. :censor

Corporate news: Troubled mortgage lender Freddie Mac (FRE, Fortune 500) reported an $8 billion quarterly loss Wednesday and also said it needs another $10.6 billion from the federal government. The company was put into conservatorship by the government during the height of the financial crisis in 2008, along with its sister company Fannie Mae (FNM, Fortune 500).

World markets: In overseas trading, European markets tumbled, with France's CAC 40 down 2.2%, Germany's DAX down 0.8% and London's FTSE down 1.5%.

Asian markets fell. Japan's benchmark Nikkei index lost 3.3% as investors reacted to the European debt crisis after a long holiday. The Hong Kong Hang Seng lost 1% and the Shanghai Composite lost 1%.

The dollar and commodities: The dollar rallied versus the euro with the European currency falling to its lowest level since March of 2009. The dollar also gained versus the pound but fell versus the Japanese yen.

U.S. light crude oil for June delivery fell $1.86 to $78.11 a barrel on the New York Mercantile Exchange.

COMEX gold for June delivery fell $14.10 to $1,169.20 per ounce.

Bonds: Treasury prices rallied, lowering the yield on the 10-year note to 3.46% from 3.55% Wednesday. Treasury prices and yields move in opposite directions.

http://money.cnn.com/2010/05/06/markets/markets_newyork/index.htm

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Thu May 06, 2010 12:54 pm
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Post Re: STOCK MARKET - US
Market Ticker reports European banks have stopped lending! :dunno

Did Trading Error Worsen Market Plunge? :noway
By Michael Baron

NEW YORK (TheStreet) -- Was the depth of the market's plunge Thursday worsened by a trading error?

A dramatic drop in Procter & Gamble(PG) looks like the smoking gun. The stock went from $60 at around 2:45 pm ET to plunging below $40 in moments. The Dow Jones Industrial Average, which was already down triple digits, sank another 600 points in less than 15 minutes right around that time. It closed off roughly 350 points.

"That doesn't happen unless someone made a huge mistake," a trader that declined to be identified for this story told TheStreet about the P&G trade. The same trader said the latest speculation was that Citigroup(PG) was the firm behind the wrong trade, mistakenly putting in a 15 billion futures sell order, instead of a 15 million one, but the company would not confirm or deny that.

"At this point, we have no evidence that Citi was involved in any erroneous transaction," the company said in an official statement to TheStreet.

Another Citi spokesperson provided the following quote:

"We, along with the rest of the financial industry, are investigating to find the source of today's market volatility," said Jon Diat in an e-mail to TheStreet. "At this point, we have no evidence that Citi was involved in any erroneous transaction."

Bill Stone, chief investment strategist at PNC Wealth Management, described the fall in P&G as "a plunge and a half" and though he couldn't comment on whether a trading error had occurred, he said the action looked unusual on the surface.

"It was a very odd thing to happen to a staple like that," Stone said. "That's the kind of safe haven stock you expect to stabilize the market."

The New York Stock Exchange wasn't immediately available for comment on the move in P&G. Nor was a spokesperson for P&G, whose stock finished the day down 2.3% at $60.75.

Machine-driven trading was being blamed for at least some of the selling with another anonymous trader commenting that the computer had gone ahead and processed an error that a person would have caught. :gah

The markets rebounded in the last hour of trading, however, and while the Dow still finished the day down more than 300 points, that's a lot better than the plus 1,000-point drop it faced earlier in the session. At the same time, although the depth of the drop may have been exacerbated by a trading error, the forces behind the selling were very real, market observers said.

"This is panic trading across the board," said Paul Mendelsohn, chief investment strategist at Windham Financial, when contacted in the midst of the sell-off. "It's not just stocks. It's panic selling in the euro, in U.S. treasuries, gold buyers, everything. You could see it building all day."

http://www.thestreet.com/story/10749261/1/did-trading-error-worsen-market-plunge.html?cm_ven=GOOGLEN

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Thu May 06, 2010 2:22 pm
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Post Re: STOCK MARKET - US
Nasdaq Says Investigating Erroneous Trades After Market Plunge :huh
By Michael Tsang and Elizabeth Stanton

May 6 (Bloomberg) -- Nasdaq OMX Group Inc. said it’s investigating potentially erroneous trades involving multiple securities between 2:40 p.m. and 3 p.m. New York time, when the U.S. stock market tumbled.

The Dow Jones Industrial Average plunged almost 1,000 points today before paring its decline and ended down 347.80 points, or 3.2 percent, at 10,520.32. About $700 billion of U.S. stock-market value was erased in less than 10 minutes, data compiled by Bloomberg show. :awe

Trades in Accenture Plc that drove the second-largest technology consulting company’s stock price down more than 99 percent to a penny were canceled by the CBOE Stock Exchange, according to data compiled by Bloomberg. :shock:

A total of 19 trades of 100 shares each were executed at 1 cent in seven seconds from 2:47 p.m. to 2:48 p.m. in New York, a minute after the Dow average plunged by the most since the market crash of 1987, the data showed. :crazy

Eighteen of the trades were executed on the CBOE Stock Exchange and were canceled. The first trade that sent Accenture to a penny was executed on the Nasdaq Stock Market. That transaction has yet to be canceled, the data showed.

Accenture shares closed today at $41.09, down 2.6 percent in New York Stock Exchange composite trading.

The Dow average lost as much as 998.5 points, or 9.2 percent, before paring its drop. The Standard & Poor’s 500 Index fell as much as 8.6 percent, its biggest plunge since December 2008, before trimming its decline to 3.2 percent.

To contact the reporters on this story: Elizabeth Stanton in New York at estanton@bloomberg.net; Michael Tsang in New York at mtsang1@bloomberg.net.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a3tiFiVZLZwg&pos=1#

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The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little. - FDR


Thu May 06, 2010 2:31 pm
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Post Re: STOCK MARKET - US
Re: Eroneous trades - on post above - Some people on CNBC called it a "fat finger" mistake--a human error, someone pushed a "B" (for billion) instead of "M (for million)

Also, Gold crossed over the $1200/oz mark. The highest it was today (so far) was $1212.60. Currently per Kitco it is $1208.80


Thu May 06, 2010 3:08 pm
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Post Re: STOCK MARKET - US
Now we have "do overs" on Wall Street? Hmmmmm

296 'funked up' stocks -- trades canceled
By David Goldman, staff writerMay 7, 2010: 11:20 AM ET

NEW YORK (CNNMoney.com) -- After one of the most wild days on Wall Street, Nasdaq canceled trades of 296 stocks whose prices fluctuated the most.

At around 2:45 p.m. ET on Thursday, trades of a number of stocks listed on the New York Stock Exchange were slowed for about a minute due to excessive volatility. During that short time, those stocks were opened up to electronic markets like the Nasdaq. :dunno

That's when at least 296 stock prices saw enormous price changes. Nasdaq has said it will cancel all trades that were executed between 2 p.m. and 3 p.m. ET, in which the stock price traded more than than 60% off of the stock's price at 2:40 p.m. (See chart below for a list of the stocks with canceled trades.)

Nasdaq coordinated the cancellations with other U.S. stock exchanges, and said the decision could not be appealed. After investigating the incident, Nasdaq found that the excessive movements in those stock prices were not due to a technical glitch on its end. :awe

Some have speculated that the bizarre trades were caused by glitches in the computers that were trading the stocks electronically when NYSE slowed some stocks down.

Duncan Niederauer, chief executive of NYSE Euronext told CNNMoney.com on Thursday that stocks are very thinly traded in such situations, which can lead to wild volatility.

Accenture (ACN) fell from $40.13 at 2:45 p.m. all the way to just 1 cent before quickly rising back to $39.57.

Sam Adams maker Boston Beer Co. (SAM) also fell to a penny before recovering to $55.82. :shock:

Oxford Industries (OXM) tanked to $1.34 before soaring back to $19.51 a minute later.

But some other wild trades were not canceled by Nasdaq. For instance, Apple (AAPL, Fortune 500) traded down 22% to $199.25 before recovering, but those trades were upheld. :hmm

Most notably, Nasdaq did not cancel trades of Procter & Gamble (PG, Fortune 500) or 3M (MMM, Fortune 500), which momentarily fell 37% and 22%, respectively. :hmm

Both are components of the Dow Jones industrial average, and their combined drop in price at around 2:45 contributed a loss 315 points to the Dow index. The Dow fell nearly 1,000 points before storming back to finish the day down 348 points.

Here is a list of the canceled stock trades

See link below for list

http://money.cnn.com/2010/05/07/markets/explaining_wall_street_turmoil/index.htm?cnn=yes&hpt=T3

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Fri May 07, 2010 8:43 am
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Post Re: STOCK MARKET - US
Where's Tonto when ya need him, huh? Sheesh!!!

A Volatile Day on Wall St. as Officials Seek to Calm Fears

By CHRISTINE HAUSER and MATTHEW SALTMARSH

The market volatility that marked the financial crisis of 2008 returned to Wall Street again on Friday.

The Dow Jones industrial average swung within a 350-point range Friday as policy makers sought to calm nervous investors who fear that Greece’s debt crisis will spread within Europe and beyond. In addition, the outcome of Britain’s election remained unsettled Friday. :awe

In early afternoon trading, the Dow Jones industrial average was down 81.32 points, or 0.77 percent, while the Standard & Poor’s 500 stock-index declined 9.97 points, or 0.88 percent. The Nasdaq declined 32.76 points, or 1.4 percent. European indexes closed sharply lower.

“People are almost looking at the stock market as a casino and it turns people off a bit,” William J. Schultz, chief investment officer of McQueen, Ball & Associates. said. “They would rather stay on the sidelines or flow into bond funds.”

Wall Street all but brushed aside a stronger-than-expected report on United States jobs growth, overwhelmed by fears about Europe’s sovereign debt. The Labor Department reported that the economy added 290,000 jobs, much more than forecast.

“Our foreign friends are ruining the party right now,” Uri Landesman, president Platinum Partners, said. “It is going to be pretty hard for us to go up when the rest of the world is going down.”

At the same time, market and government officials were trying to understand the cause of Thursday’s wild plunge, which sent Wall Street indexes down more than 9 percent. At least part of the sell-off appeared to be linked to a trading error.

“Clearly there is still an aftershock from yesterday,” Mr. Landesman said. “I expected today to rally and I think what we are seeing here is I think people are scared of the magnitude of the panic that caused and they are realizing ‘hey, people are really nervous.’ ”

President Obama, in remarks at the White House, said the authorities were looking into the caused of the drop.

“The regulatory authorities are evaluating this closely with a concern for protecting investors and preventing this from happening again,” Mr. Obama said.

The euro, which has been mauled by worries over Greece since the start of the year, was trading at $1.2630 on Friday, above its level late Thursday of $1.2619. In Britain, the pound fell sharply against the dollar, to $1.4670 in afternoon trading, from $1.4833 late Thursday, and the price of government bonds, or gilts, dropped as the general election failed to produce a clear winner.

European equity indexes also closed lower. On the day, the FTSE 100 in London was down 2.6 percent, the DAX in Frankfurt dropped 3.27 percent and the CAC-40 in Paris declined 4.13 percent.

“We’re seeing selling in all sectors and from both long-term investors and short-term traders,” Stefan de Schutter, an asset manager at Alpha Trading in Frankfurt, said of European indexes.

Markets have fallen despite a 110 billion euro, or $142 billion, rescue package for Greece that was agreed to last weekend by the International Monetary Fund and the European Union. The German Parliament voted Friday to lend Greece 22.4 billion euros, or about $30 billion, as its share of the emergency package.

And finance officials from the Group of 7 industrialized nations were expected to discuss the Greek debt problem during a conference call.

In the bond market, the yield on benchmark Greek bonds surged Friday and was quoted at 12.2 percent for the 10-year issue amid doubts that the support package could help Greece manage its spiraling debt without a rescheduling. By comparison, investors are demanding a 12.5 percent return for holding the 10-year bonds of Pakistan.

In Tokyo, the Bank of Japan pumped 2 trillion yen, or $22 billion, into financial institutions to ease liquidity and soothe markets. It was the first such emergency move since December, when concerns over Dubai’s debt ignited a credit crunch. :doh

The stock market in Japan was hit the hardest in Asia. The Nikkei 225 index closed down 3.1 percent, adding to its 3.3 percent fall on Thursday.

The rout prompted Prime Minister Yukio Hatoyama to tell reporters Friday morning that “Japan is very concerned about Greece’s problems and the government will deal solidly with any fallout.” He added: “We intend to do our best.”

Like Greece, Japan is also has a very high national debt.

Investors are also nervous about Japan’s sovereign risk,” said Yoshio Takahashi, Tokyo-based strategist at Barclays Capital. “We’re not talking about a crisis here today or tomorrow,” he said. “But it could become a serious concern in the next few years.”


Sonia Kolesnikov-Jessop and Bettina Wassener contributed reporting.

http://www.nytimes.com/2010/05/08/business/08markets.html?hp

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Fri May 07, 2010 10:38 am
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Post Re: STOCK MARKET - US
CFTC Warns, GOLD/SILVER Spikes? :huh

The Market Ticker ®Friday, May 7. 2010
Posted by Karl Denninger in Corruption at 13:01

CFTC Warns, GOLD/SILVER Spikes?
Hmmmm....

WASHINGTON (Dow Jones)--The U.S. Commodity Futures Trading Commission issued a warning to the market on Friday to remind participants that speculative trading limits apply throughout the trading day as well as at the end of trading.

You don't think that GOLD was being speculatively shorted beyond intraday position limits, do you? That oval, by the way, is right when the announcement was made.

Or shall we look at SILVER?



Naw, there's no evidence that "someone" (or a few someones) were breaking the law here, is there?

Nobody would ever close out unlawfully-held shorts after being warned by the CFTC, would they?



Go to link below to see two AMAZING CHARTS - one for gold and one for silver!

http://market-ticker.org/archives/2286-CFTC-Warns,-GOLDSILVER-Spikes.html

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Fri May 07, 2010 10:55 am
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Post Re: STOCK MARKET - US
Did a Big Bet Help Trigger 'Black Swan' Stock Swoon?

By SCOTT PATTERSON And TOM LAURICELLA

Shortly after 2:15 p.m. Eastern time last Thursday, hedge fund Universa Investments LP placed a big bet in the Chicago options trading pits that stocks would continue their sharp declines.

On any other day, this $7.5 million trade for 50,000 options contracts might have briefly hurt stock prices, though not caused much of a ripple. But coming on a day when all varieties of financial markets were deeply unsettled, the trade may have played a key role in the stock-market collapse just 20 minutes later.

The trade by Universa, a hedge fund advised by Nassim Taleb, author of "Black Swan: The Impact of the Highly Improbable," led traders on the other side of the transaction—including Barclays Capital, the brokerage arm of British bank Barclays PLC—to do their own selling to offset some of the risk, according to traders in Chicago.

Then, as the market fell, those declines are likely to have forced even more "hedging" sales, creating a tsunami of pressure that spread to nearly all parts of the market. :gah

The tidal wave of selling fed into a market already on edge about the economy in Europe. As the selling spread, a blast of orders appears to have jarred the flow of data going into brokerage firms, such as Barclays Capital, according to people familiar with the matter.

Exchanges, in turn, were clogged by huge volumes of offers to buy and sell stocks, say traders and exchange executives. Even before some individual stocks collapsed to just a penny a share, data from the NYSE Euronext's electronic Arca exchange started to appear questionable, say traders.

In the disarray, some huge superfast-trading hedge funds that now provide much of the liquidity for the stock market pulled to the sidelines. The working theory among traders and others involved in the exchange meltdown is that the "Black Swan"-linked fund may have contributed to a "Black Swan" moment, a rare, unforeseen event that can have devastating consequences.

"Universa alone couldn't have caused the meltdown," said Mark Spitznagel, Universa's founder. "We had reached a critical point in the market, and it was poised to collapse." Barclays Capital declined to comment.

As more details of last Thursday's collapse become clear, there is less evidence to suggest a "fat-finger" data-entry error caused the collapse. Instead, the picture is one of a highly rare confluence of events, some linked, some unrelated, that exposed weaknesses in the stock market large and small. Within five minutes, the Dow Jones Industrial Average had lost 700 points as trading seized up in individual stocks such as Procter & Gamble and even exchange-traded mutual funds.

"It did point out that there is a structural flaw," said Gus Sauter, chief investment officer at Vanguard Group. "We have to think through how you preserve the immediacy and yet preserve the liquidity."

The episode highlights a bigger question about the stock market. In recent years, the market has grown exponentially faster and more diverse. Stock trading's main venue is no longer the New York Stock Exchange but rather computer servers run by companies as far afield as Austin, Texas; Kansas City, Mo.; and Red Bank, N.J.

This diversity has made stock-trading cheaper, a plus for both institutional and individual investors. It has also made it more unruly and difficult to ensure an orderly market. Today that responsibility falls largely on a group of high-frequency traders who make up an estimated two-thirds of stock-market volume. These for-profit hedge funds look out for their own investors' interests and not those of investors in the stocks they trade.

Hours before the panic began, there were signs that Thursday was not shaping up to be a humdrum day. By 11 a.m., when the Dow was down only about 60 points, selling volume was unusually heavy. One measure of selling—the percentage of stocks falling without first moving upward—was at its highest since the day the market reopened after the Sept. 11 terror attacks, according to Barclays.

By 2 p.m., financial markets of just about every sort were under significant strain. In Europe, the spillover from the Greek debt crisis led to a huge drop in the euro against the dollar and the Japanese yen, as well as a broad bond-market decline. European banks were charging each other higher interest rates to borrow money.

Some 2,800 miles away from Wall Street, in Santa Monica, Calif., Universa placed its trade.

The trade wasn't out of character for Universa, which has about $6 billion under management. Mr. Taleb, who is an adviser to the firm and an investor, gained fame for "The Black Swan," a book that suggested unlikely events in the financial markets are far more likely than most investors believe.

Universa frequently purchases options contracts that will pay off if the market makes a sharp move lower. It posted big gains in the market selloff of late 2008 and launched a fund last year designed to benefit if inflation surges.

Through the trading desks at Barclays, Universa bought 50,000 options contracts, according to people familiar with the matter. The contracts would pay off about $4 billion should Standard & Poor's 500-stock index fall to 800 in June. It was at 1145 points at the time of the trade.

Back across the country in Chicago, the big trade appeared to have had an immediate ripple in the markets. The traders on the other side of the Universa trade were essentially betting stocks wouldn't post big losses.

But to minimize the risk of losing money, they in turn needed to sell, according to traders.

The more the market fell, the more the traders at places like Barclays had to sell to protect their own positions. This, along with likely dozens of other trades across the market, led to a cascade of selling in the futures markets.

As the stock-trading volume soared, data systems across the stock market began to get clogged. At Barclays Capital, a market data feed that delivers to the firm data on "buy" and "sell" orders went down, although a backup system immediately went online without any impact to the firm.

As the turmoil unfolded, every second saw some 300,000 pieces of stock information—stock prices moves, trades—pour into Barclays's system. A normal peak is some 60,000 ticks a second, says Barclays Capital's head of electronic-trading sales, Brian Fagen, who was monitoring the chaos in the market on his screens.

Large hedge funds were juggling huge positions as volume spiked. Two Sigma Investments LLC, a New York hedge-fund manager that engages in complex trading strategies, saw its highest-volume day since launching in 2001, according to a person familiar with the matter.

By 2:37 p.m., the overload seemed to have taken its toll on the NYSE's Arca electronic-trading system. At that point, its rival, the Nasdaq, owned by NASDAQ OMX Group Inc., detected what it felt was questionable information in the data. It sent out a message saying it would no longer route quotes to Arca.

This step—known as declaring "self-help"—doesn't happen often among the major exchanges. But in the coming minutes, the BATS exchange also stopped automatically routing orders to Arca.

For a crucial set of players—high-frequency-trading hedge funds—all this turmoil was becoming too risky to handle. One fear that would prove all too real was that in the extreme swings, some—but not all—trades would later be canceled, leaving them on the hook for unwanted positions.

Manoj Narang, whose Tradeworx Inc. firm runs a high-frequency trading operation in Red Bank, N.J., began to worry the extreme volatility could lead to painful losses in his fund.

At about 2:40, he and a small team of traders scrambled to close the positions held by the high-speed fund, which trades rapidly between stock indexes and the individual stocks in the index.

Normally, it takes about a fraction of a second to unwind the trades because of the high-powered computers Mr. Narang uses. But as the market plunged, it took about two minutes—an eternity in today's computer-driven market. Tradebot Systems Inc, a large high-frequency firm based in Kansas City, Mo., was also seeing chaotic action in many of the securities it traded and decided to pull back from the market.

With the high-frequency funds either selling or pulling out of the market, Wall Street brokerage firms pulling back and the NYSE stock exchange temporarily halting trading on some stocks, offers to buy stocks vanished from underneath the market. Normally there can be hundreds of offers to buy the iShares Russell 1000 Growth Index exchange-traded fund, but at 2:46 p.m., there were just four bids north of $14 for a fund that had been trading at $51 minutes earlier, according to data reviewed by The Wall Street Journal.

Around 3 p.m., the selling pressure abated. Just as swiftly as the market fell, it recovered ground. One factor behind the swift recovery, traders say, were funds that use computers and formulas to sniff out bargains in the market. These funds swooped in on hundreds of cheap stocks, helping push the market higher.

—Jacob Bunge contributed to this article.

http://online.wsj.com/article/SB10001424052748704879704575236771699461084.html?mod=WSJ_hps_LEFTWhatsNews#articleTabs%3Darticle

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Tue May 11, 2010 7:26 am
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 Re: STOCK MARKET - US
After you digest this, go look at the international stock markets.

^DJI Dow Jones Industrial Average 10,182.66 10:46AM EDT Down 261.71 (2.51%)

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Thu May 20, 2010 7:48 am
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Post Re: STOCK MARKET - US
:awe

Dow 10,168.98 -275.39 (-2.64%)
S&P 500 1,082.60 -32.45 (-2.91%)
Nasdaq 2,224.04 -74.33 (-3.23%

Right now while I post. :awe

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Thu May 20, 2010 9:27 am
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Post Re: STOCK MARKET - US
Stocks plunge as fear spikes
By Alexandra Twin, senior writer
May 20, 2010: 4:16 PM ET


NEW YORK (CNNMoney.com) -- Stocks got pummeled Thursday, with the Dow, Nasdaq and S&P 500 losing enough to fall into "correction territory" - marked by a drop of more than 10% off the rally highs.

Worries that the European debt crisis and slump in the euro might spark a second leg down for the global economy fueled the selling, extending the recent declines.

The Dow Jones industrial average (INDU) fell 376 points, or 3.6%, closing just above its lows.

The Nasdaq (COMP) fell 94 points, or 4.1% and the S&P 500 (SPX) declined 43 points, or 3.9%.

The market had cut losses in the afternoon as the euro gained ground against the dollar, but stocks reversed course and ended just above their lows after the Wall Street reform bill cleared a key hurdle in the Senate that all but assures its passage.

Here's a look at what was moving stocks near the close:

The CBOE Volatility index, the VIX (VIX), Wall Street's fear gauge, spiked 25% to a 14-month high of 44.25. The VIX had touched 45.21 earlier.

"With the jobless data and weakness out of the European markets, stocks are down again," said Steven Goldman, market strategist at Weeden & Co.

"There's a heightened sense of nervousness and markets look to be testing the lows of two weeks ago, when we had the mini-crash," he said.

On May 6, the Dow lost nearly 1,000 points during the session before recovering to close down 348 points.

During that session, the Dow, S&P 500 and Nasdaq fell to levels that set them at least 10% off the rally highs. The Nasdaq has already closed at those levels, meaning it is in a correction, according to the technical definition. Should the S&P 500 close at its current level below 1095, and the Dow below 10,085 (it hasn't sunk that low today), they would also be in a correction.

Goldman said that hitting those levels might ease the selling, as investors are more able to tolerate the uncertainty of the European debt crisis and euro plunge when the market is at a lower level than when its at 2010 highs.

Beyond the reaction to the immediate headlines, the stock market may have already been vulnerable to selling, said Brett Hammond, chief investment strategist at TIAA-CREF.

"The European debt issues and the euro are very important," he said. "But the market was already poised for a pullback after the enormous run up in the stock market since March of 2009."

He said that the historic rally was partly fueled by anticipation that an economic and corporate profit recovery would take hold and that the consumer would take over from the government as an engine of growth. While some of that has happened, market participants may have been betting on a bigger comeback.

Market breadth was negative. On the New York Stock Exchange, losers beat winners 25 to one on volume of 1.14 billion shares. On the Nasdaq, decliners beat advancers 14 to 1 on volume of 2.03 billion shares.

Stocks: Best moves to make now
Euro: The euro gained 0.5% versus the dollar after falling in the morning. The euro has seesawed over the last few days after plunging to a four-year low of $1.2234 on Monday. The dollar fell 1.8% versus the yen.

Economy: Reports on jobless claims and leading economic indicators (LEI) disappointed, while the Philadelphia Fed index, a regional reading on manufacturing, topped forecasts.

The number of Americans filing new claims for unemployment rose last week to 471,000 from 446,000 the prior week. Economists surveyed by Briefing.com expected claims to fall to 439,000.

Continuing claims, the number of Americans who have been receiving benefits for a week or more, fell to 4,625,000 from 4,665,000 in the previous week. Economists thought claims would fall to 4,600,000.

After the start of trading, the Conference Board released its index of leading economic indicators. LEI fell 0.1% in April after rising 1.3% in March. The index was expected to have risen 0.2%.

The Philadelphia Fed index rose to 21.4 in May from 20.2 in April, topping predictions for a rise to 20.7.

After the mini-crash: New rules continue to be proposed in the wake of the May 6 stock market selloff, in which erroneous trading in hundreds of issues created a panic that dragged down the broad market. Since then, most of the trades have been cancelled, but regulators remain unclear as to what exactly caused the selloff.

Out-of-control computer trading may have caused the slump, Securities and Exchange Commission chairwoman Mary Schapiro told a Senate panel Thursday.

On Tuesday, the SEC proposed new rules that would impose circuit breakers, or a temporary pause, on individual stocks that experience extreme swings. There are already circuit breakers in place for the broad markets, but this would impact individual stocks.

Wall Street reform: After months of debate, an extensive bill to overhaul U.S. financial regulation failed a key test vote in the Senate Wednesday, dealing a setback to Democratic efforts to move the bill forward.

The bill, which seeks to stop bailouts, strengthen consumer protection and make transparent the workings of complex financial transactions, will be put before the Senate again Thursday.

On Wednesday, 57 voted in favor and 42 were opposed. Under Senate rules, 60 votes are needed to move ahead to a final vote.

World markets: Markets in Europe slumped, as the euro continued its slide versus the dollar. The British FTSE 100 fell 1.7%, the German DAX lost 2% and the French CAC 40 fell 2.3%.

Asian markets tumbled. The Japanese Nikkei fell 1.5%, while the Hong Kong Hang Seng fell 0.2%.

Commodities: U.S. light crude oil for June delivery fell $2.17 to $67.70 a barrel on the New York Mercantile Exchange.

COMEX gold for June delivery fell $9.70 to $1,183.40 an ounce.

Bonds: Treasury prices rallied, lowering the yield on the 10-year note to 3.24% from 3.36% late Wednesday. Treasury prices and yields move in opposite directions.

Market breadth was negative. On the New York Stock Exchange, losers beat winners by over three to one on volume of 1.54 billion shares. On the Nasdaq, decliners beat advancers nearly three to one on volume of 2.44 billion shares.

http://money.cnn.com/2010/05/20/markets/markets_newyork/index.htm?hpt=T2

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Thu May 20, 2010 1:30 pm
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Post Re: STOCK MARKET - US
Dow closed the day thus: ^DJI Dow Jones Industrial Average 10,068.01 4:02PM EDT Down 376.36 (3.60%)

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Thu May 20, 2010 7:15 pm
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Post Re: STOCK MARKET - US
Yeah and I wonder how many "breaks" were placed on it prior to the final bell?

Oh, yes indeedy, we certainly live in interesting times.

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Fri May 21, 2010 6:46 am
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Post Re: STOCK MARKET - US
US financial markets may be shut down on Monday

It is my collective read that US financial markets may finally be shut down on Monday June 7, 2010, if Fed Desks don't intervene on Sunday night.

We have never been this close to the inevitable outcome.

Every single day, it is becoming more visible to the masses that a large portion of the western civilization is bankrupt with no savings, no production, no growth, no future prospects.

Today Hungary joined the club. Eventually they will take their creditors with them into abyss. Most of the Arab and Iran central banks are now switching from Euro to USD and Gold.

Like Sol said, "Bear Market Rules Apply" but this bear is something you have never seen in your life. Save your wealth, children, family and future. 2008 was just a warm up.
Posted by Atilla Demiray at 6/04/2010 03:28:00 PM

http://www.xtrenders.com/2010/06/us-fin ... -down.html

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Sun Jun 06, 2010 1:49 pm
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Post Re: STOCK MARKET - US
http://money.cnn.com/2010/07/16/markets/markets_newyork/index.htm?hpt=T1

Stock selloff heats up
By CNNMoney.com staffJuly 16, 2010: 1:25 PM ET


NEW YORK (CNNMoney.com) -- Stocks slumped Friday after financial firms Bank of America and Citigroup reported weaker quarterly revenue and a falling euro revived concerns about the global economic outlook.

A flat reading on consumer prices was also in play, suggesting weak consumer demand and little if any inflationary pressure.

The Dow Jones industrial average (INDU) lost 220 points, or 2.1%, the S&P 500 (SPX) slid 26 points, or 2.4% and the Nasdaq (COMP) composite shed 54 points, or 2.4%.

Declines were broad based, with all 30 Dow shares falling. Oil and gold prices slumped, dragging down the underlying shares. Consumer names fell apart, including Dow stocks Procter & Gamble and Wal-Mart Stores.

But financial shares were hit especially hard, with the KBW Bank (BKX) index losing 4.4%.

Goldman Sachs shares bucked the trend, rising on news it settled its fraud case with the SEC for a smaller-than-expected $550 million. But any relief about the settlement was tempered by concerns about the financial sector profits.

"Goldman should have been a positive for the group, but the negative reaction to Bank of America, Citigroup and GE is overshadowing it," said Randy Frederick, director of trading and derivatives at Charles Schwab.

"The financial sector tends to be pretty sensitive, moving in big swings, and that's what you're seeing today," he said.

He said that in addition, investors are reacting to the weaker-than-expected economic reports on consumer sentiment and inflation.

Stocks may have also been vulnerable to a bit of a pullback in the aftermath of two weeks of gains. As of Thursday's close, the Dow was up 1.7% for the week and 7% for the two-week period.

Bank of America profits top $3 billion
Results: A number of big, influential companies reported better than expected earnings but provided some disappointment on the revenue side.

Bank of America (BAC, Fortune 500) reported a second-quarter profit of $3.1 billion, surpassing Wall Street estimates, due to improving credit quality. But the company also reported that revenue fell from a year ago. The lower revenue, along with signs of weakness across several businesses, led investors to dump the shares Friday, with the stock losing 7%.

Citigroup (C, Fortune 500) reported earnings and sales dropped from a year ago, due to the weaker stock market. Results beat estimates on a per-share basis but missed expectations for revenue. Citigroup shares fell 4% in morning trading.

General Electric (GE, Fortune 500) reported higher quarterly earnings that beat estimates on weaker revenue that missed expectations. The Dow component also said GE Capital, its finance arm, was showing signs of stabilization and that its on track for solid earnings growth going forward.

After the close Thursday, Google (GOOG, Fortune 500) reported higher quarterly earnings that missed forecasts on higher revenue that beat estimates, sending shares 5% lower in Friday trading.

Earnings are currently on track to have risen 28% from a year ago, according to the latest figures from earnings tracker Thomson Reuters. Revenue is on track to have grown 9% from a year ago.

Economy: The University of Michigan's consumer sentiment index fell to 66.5 in July from 76 in late June. Economists surveyed by Briefing.com were expecting it to dip to 74.5.

An early report showed that inflation remains tame. The Consumer Price Index (CPI) a measure of inflation at the consumer level fell 0.1% in June, in line with forecasts. CPI fell 0.2% in May.

The so-called core CPI, which strips out volatile food and energy prices, rose 0.2% in June, versus forecasts for a rise of 0.1%. CPI rose 0.1% in May.

World markets: European markets fell, with Britain's FTSE 100 down 1%, Germany's DAX off 1.8% and France's CAC 40 down 2.3%.

Asian markets ended flat to lower. Japan's Nikkei fell 2.9%, while Hong Kong's Hang Seng and the Shanghai Composite both ended little changed.

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Fri Jul 16, 2010 11:37 am
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Post Re: STOCK MARKET - US
German Börse in Talks to Buy the Big Board
By MICHAEL J. DE LA MERCED and JACK EWING

The New York Stock Exchange, a symbol of American capitalism for more than two centuries, may soon have new owners — in Europe.

The exchange, facing pressure from electronic upstarts that have taken business away from it, said on Wednesday that it was in advanced talks on a merger with the operator of the Frankfurt Stock Exchange. A deal would create the world’s largest financial market, with a presence in 14 European countries as well as the United States.

con.

http://dealbook.nytimes.com/2011/02/09/ ... -talks/?hp

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Mon Feb 14, 2011 12:28 am
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Post Re: STOCK MARKET - US
Dow Skids 600, Worst Day Since Credit Crisis

Stocks took a sharp nosedive in another choppy day Monday to finish at session lows as investors fled from risky assets following S&P's downgrade of U.S.'s credit rating last week in addition to ongoing economic jitters.

Major U.S. Indexes
.DJIA 10809.85 -634.76 -5.55%
.NCOMP 2357.69 -174.72 -6.9%
.SPX 1119.46 -79.92 -6.66% :huh
0

The Dow Jones Industrial Average plunged 634.76 points, or 5.55 percent, to finish at 10,809.85, well below the psychologically-significant 11,000 mark.

con. http://www.cnbc.com/id/44058141

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Mon Aug 08, 2011 8:17 pm
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Post Re: STOCK MARKET - US
No rest for investors: Dow plunges 520

NEW YORK (CNNMoney) -- After a one-day respite, U.S. stocks plunged sharply yet again Wednesday as investors were confronted with mounting fears about Europe's ongoing debt crisis, this time in France.

The Dow Jones industrial average (INDU) lost 520 points, or 4.6%, to 10,720. The index ended the day near session lows.

The S&P 500 (SPX) fell 52 points, or 4.4%, to 1,121; and the Nasdaq composite (COMP) lost 101 points, or 4.1%, to 2,381.

Stocks were led lower by the financial sector. On Wednesday afternoon CEO of embattled Bank of America (BAC, Fortune 500) Brian Moynihan tried to reassure investors that conditions at the bank and in the country are much better than they were four years ago when the financial crisis hit. The comments were made during a call hosted by investor Bruce Berkowitz of Fairholme Capital Management.

But the comments were not enough. Shares of the Dow component plunged 11% on the day. BofA has fallen nearly 50% so far this year.

Other names in financial sector were hit just as hard. Shares of Citigroup (C, Fortune 500), Goldman Sachs (GS, Fortune 500) and Morgan Stanley (MS, Fortune 500) dropped about 10%. Shares of Wells Fargo (WFC, Fortune 500), UBS (UBS) and JPMorgan Chase (JPM, Fortune 500) were down around 7%. :mrgreen:

Along with BofA's problems, investors remains worried about the Europe's ongoing sovereign debt crisis.

Ever since Standard & Poor's stripped the U.S. of its AAA credit rating on Friday, fears have been building that rating agencies may also downgrade AAA-rated nations in Europe, since they are also struggling with massive debt problems.

On Wednesday, shares of French bank Societe Generale tumbled 15% on the Paris stock exchange amid speculation that France, Europe's second-largest economy after Germany, may be first to face a rating cut.

European banking shares also fell sharply. Deutsche Bank's (DB) stock dropped 12% while Spanish bank Banco Santander (STD) dropped 9.5%.

Read more here: http://money.cnn.com/2011/08/10/markets/markets_newyork/index.htm?iref=BN1&hpt=hp_t1

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Wed Aug 10, 2011 2:20 pm
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