WOW!!!!! What a great day in the markets. Stocks got killed with the Dow down 358 points. Stocks got the real message about this economy and the market in general. Stocks are in a BEAR market, and today was a great example. Bonds reduced in interest rates and pulled back to almost 4% on the [...]
Almost all markets went sideways today – awaiting the words of wisdom from the FED tomorrow. The currency markets picked up on the weak consumer confidence number announced today. In the news today….. Housing prices dropped 1.4% in April, or 15.3% annually as a national figure. The fall in price seems to be slowing nationally, [...]
Stocks fell today 109 points, but everything else went sideways. Stocks were spooked by the increasing inflationary expectations, and the continuing fall in financials. In the news today….. The Producer Price Index (PPI) went up 1.4% in May. This was a larger than expected jump, but you naturally expected the jump due to energy price [...]
Stocks shot forward on the news that Google made a huge profit, and CitiGroup didn’t go bankrupt, but just came in with a big negative. Irrational. Bonds continued moving up a little in interest rates as there is a rumor the FED may not cut interest rates at all next time around. The Dollar strengthened [...]
Reality came to the market, but for the wrong reason. GE earnings came in poorly, so the whole market tanked. That is irrational, but so are stocks. The market went down 257 points. Bonds moved sideways, as did oil; but gasoline went up a little showing its independence, and stubbornness to cause all of us [...]
Stock dropped dramatically at the opening of the market today, and swept upward throughout the day to end up 35 points. Why? You ask? Well, S&P came out today and said that all those financial institutions are near the end of their liquidity write downs. Do you believe that? Well, the market did. I don’t. [...]
I am going to spend the majority of today’s Economy Guy talking about the markets. Usually I talk about the news, and give you the story behind the story, but today the story is the markets – all of them. Stocks gave up a little of that gigantic gain they made yesterday. This doesn’t look [...]
Stocks fell again today, and this could be the beginning of a long slide downward, breaking the sideways movement we’ve been in for the last few months. Those experts who follow the DOW Theory are saying that the stock market is now definitely in a BEAR market. The DJ30 fell 154 points today. Bonds continued [...]
The stock market ended down again today. Nothing but worry moving the market. Bonds on the other hand started with declining interest rates, and continued declining all day. Bonds ended up at the same place at the end of the week where it started at the beginning. Oil jumped $3.66/barrel on supply worries. Problems in [...]
There was REAL FEAR on the trading floor of the NYSE this morning. No one knew what was coming. The futures had priced in a 500 point decline for the opening of the Dow Jones Industrials Index. The international markets had dropped precipitously on Monday, and had continued and accelerated downward today before our opening. [...]
