Filed under: Before the bell, International markets, Market matters, Economic dataOften is the case that after a big selloff, stocks stage a rally. Alas, this is not the case today and I feel like I'm repeating myself every morning, but U.S. stock futures were lower Thursday, indicating stocks could further extend Wednesday's selloff. Yesterday, the Dow Jones Industrial Average closed below 8,0...
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Market recap. U.S. stock and bond markets dropped to their lowest levels since the economic crisis began, on new concerns about rising defaults and the financial system's health. The stock market fell to a 5.5 year low, led by banks and financial institutions. Markets are now down 43.5% from an all-time high reached just over a year ago, and nearly all the gains from the last bull market (from...
JPMorgan economists are predicting that the Fed will reduce rates by 50 basis points at each of the next two meetings. That would bring the target to zero. Here is the note from JPM:We now look for a 50bp cut in the target fed funds rate at the December 16 meeting, followed by an additional 50bp cut at the January 28 meeting. We believe the Fed then continues to conduct a zero-interest rate pol...
The pair is ready to fall sharply: quoting @ 1.4830, under today’s minimum at 1.4809 the pair has a clear way to the key support level around 1.4770: if passes under this last, we will see a good bearish momentum triggered, with next supports at 1.4712, and intermediate support at 1.4684, and then and more likely, 1.4655. To the upside, 1.4890/1.4900 will be the first resistance to consid...
Rumors have surfaced again that Chrysler and GM (GM) may restart talks about a merger. For some time analysts and executives at the two companies have believed that a marriage would save $5 billion or so a year and allow the new entity to cut 40,000 or more people. While putting that many people out of work may be horrible, it beats having most of the employees at the two firms fired due to ban...
Click charts to ENLARGE.Winners? Not a lot out there. Here are some stocks that are Landry Long winners... simple MA10 period > EMA20 > EMA 30From the Barrons 100__________________________________________________Volatility: winning through fear.The dollar: winning through debt destruction, as dollars get vaporizedThe yen: winning through the end of the carry trade of borrowing yen to inve...
It used to be a pretty good deal to work at a large US company for several decades and then retire with a pension and health benefits. A lot of that part of the American dream is heading out the window. The Big Three may not be able to fund the VEBA which they set up with the UAW. That would mean tens of thousands of retired auto employees might have to pay their own doctor bills. A large numbe...
A quick look at bank stocks would indicate that Wall St. is not terribly impressed with the Paulson $700 billion bailout plan. Citigroup (C), the whipping boy of the group, may be at a multi-year low. But, so is Goldman Sachs (GS), the most sublime of all US financial institutions. Even Jamie Dimon's JP Morgan (JPM), arguably the best run bank, has been pulled into the vortex of selling The tro...
HONG KONG/SINGAPORE (Reuters) - Citigroup is scrambling to slash costs in the face of collapsing investor confidence, but the embattled bank is unlikely to retreat from Asia, its strongest performing region.
Well they tried... as they say over at Minyanville.com, the cancer just might be larger than the system - this is what seems to be happening. As we wrote Tuesday [S&P 500 Looks Ready to Bow Out] we were anticipating this and unlike last Thursday we would actually not be anticipating any turnaround and in fact be riding this leg down...I come from the school that the more times you test a le...