All the major indexes sat at fresh multi-year lows Wednesday, as the crosscurrents of a seemingly endless wave of negative news had uncertainty levels (as measured by the VIX) one push away from new all-time highs.
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The FOMC minutes were just released from its recent 10/28 - 10/29 meeting. Here are the highlights: The information reviewed at the October meeting indicated that economic conditions deteriorated in recent months. The labor market weakened further in September as private payrolls fell at a faster pace than earlier in the year and the unemployment rate remained above six percent. Industrial prod...
In the financial industry, down is up. Iconic bank brands that once inspired confidence now strike fear into the markets.
The news of the day was hardly positive, what with poor housing figures, more worries about the automakers, and concern in credit markets, but the late-day implosion probably sparked more than a few corner-office types storming onto the trading floor and shouting to nobody in particular, “What the hell just happened?” The collapse of major financial stocks — Citigroup finishe...
One of the unexpected benefits of a $90-a-barrel drop in the price of crude oil is a transport sector that has far less to pay for keeping things moving. Now, of course, that savings is predicated on the assumption that there’s actually something out there to move – that manufacturers are still making things, and consumers are still buying. These days, none of that can be taken for ...
Today’s tickers: JPM, BBY, ACE, IRM, SHLD & CSCO JPM – JP Morgan Chase & Co. – With the market in meltdown mode, investors are once again departing all shades of financial shares. There are new lows today at several major financial institutions including blue-blooded JP Morgan. The 52-week $28.87 low is a radical shift from the $50.50 52-week peak set three days into O...
The FOMC minutes were just released from its recent 10/28 - 10/29 meeting. Here are the highlights:The information reviewed at the October meeting indicated that economic conditions deteriorated in recent months. The labor market weakened further in September as private payrolls fell at a faster pace than earlier in the year and the unemployment rate remained above 6 percent. Industrial product...
The Best Investment Strategy For A Market Like This… The Truth About Covered Call Investing
I know we don’t usually send the Smart Profits Report to you on a Friday. But with the stock market still crazier than a drunken leprechaun and this year’s economic and financial woes leaving many consumers seriously strapped for cash - just as the holiday season rolls in - I want to make sure you know one thing… Yes, this is a tough market. No doubt about that. But far from ...
Rebecca Engmann Darst co-authored this report.JP Morgan Chase & Co. – With the market in meltdown mode, investors are once again departing all shades of financial shares. There are new lows today at several major financial institutions including blue-blooded JP Morgan. The 52-week $28.87 low is a radical shift from the $50.50 52-week peak set three days into October. We’re not s...
Sales for its all-important poker games have fallen for the online gamer, which traded decently elsewhere.
