okay... just saw a couple articles with lots of information.
Indicate Market outlook getting uglier. This article has some information on current news aside from just oil. Notes that hoursing starts and permits fell in December, CPI feel unexpectedly in December due to fall in energy prices, pessimistic investor outlook.
Market Selloff: It Could Get A Lot Uglier | Fox Business
Further down there is a 2nd article stock prices tumbling. It talks about the statistics on the drops, tags oil drop as main culprit for selloff due to investor worries about world wide supply gut, indicates International Energy Agency said Tuesday that it expects excess supply to keep the oil market oversupplied through late this year. Says that this could be the 3rd year where supply exceeds demand by 1M barrels a day. Humm.... so Iran production would definitely have an impact.
Article also briefly discusses investors flight to Gold and safe-haven assets, gives more detail on the housing starts which dropped 2.5% last month while permits to build new homes dropped 3.9%.
Also mentions that manufacturing sector is in a recession. And that recently the GDP growth for Q415 dropped and real GDP growth is at .5% and that in light of last week's retail sales and inventories date, that estimate could be too high. Otherwise, also mentioned that bank earnings for Goldman Sachs 4th quarter did not hit its target due to the $5 Billion settlement with DOJ over mortgage-bond sales back in 2008; GS's largest regulatory penalty. IBM shares dropped 6% (15th straight quarter with revenue drop).
Would like to give positive news.
.. but for now, maybe a look at the economic calendar might bring about companies with possibility of better earning reports.
Best wishes to you all!!!!!!!!!!!!! :smile:
