350zCommTech
Well-known member
This bill must not pass.
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Market News
- Thread starter weatherweenie
- Start date
weatherweenie
Well-known member
[BRIEFING.COM] S&P futures vs fair value: -12.70. Nasdaq futures vs fair value: -6.80. Stock futures suggest a lower open. In credit markets, the overnight Libor fell 308 basis points to 3.79%, indicating banks are more willing to lend dollars to other banks overnight. However, Libor for longer terms mostly rose. The Senate plans to vote on its version of the financial relief bill this evening, according to the Wall Street Journal. Some changes made include an increase of FDIC insurance to $250,000, an extension of renewable energy tax cuts and tax credits for individuals, according to the report. Separately, the SEC and Financial Accounting and Standards Board will provide guidance on the fair value measurement of assets later this week. The SEC said when an active market for a security does not exist, the use of management estimates is acceptable. Presumably, this will prevent future write-downs at financial institutions who are currently recording assets at fire sale prices. Economic data will be in focus, with reports including ADP Employment (9:15 ET), ISM Manufacturing (10:00 AM ET) and construction spending (10:00 AM ET).
weatherweenie
Well-known member
08:15 am : S&P futures vs fair value: -13.30. Nasdaq futures vs fair value: -11.80. S&P 500 futures have a mostly muted response to a better-than-expected private employment report. Private nonfarm employment fell by 8,000 in September, according to employment services firm ADP. Economists expected a drop of 50,000. August was revised fom a loss of 33,000 payrolls, to a loss of 37,000. The ADP report has had a spotty record compared to the government's employment report, which measures both private and public nonfarm payrolls. The government's employment report is set for release on Friday, with expectations of a 105,000 decrease.
weatherweenie
Well-known member
08:29 am : S&P futures vs fair value: -10.90. Nasdaq futures vs fair value: -13.80. Nasdaq futures fall to session lows. Crude oil prices are down 1.3% to $99.33 per barrel ahead of the government's weekly energy inventory report at 10:35 AM ET. Gold is down 0.5% and the dollar is nearly flat.
weatherweenie
Well-known member
The ISM Manufacturing Index fell 6.4 to 43.5 (consensus 49.5). A reading below 50 is intended to reflect contraction in manufacturing. ISM prices paid, which includes energy and food, but excludes crude oil, fell a sharper-than-expected 23.5 to 53.5 (consensus 73).
Frixxxx
Moderator
Hmmm
Gold Price
15 Sep 08: 770.00
01 Oct 08: 878.00
What is "your" definition of "sky-rocketing"???:blink:
Welcome to the board!
I stand corrected Frixxxx. That is a significant leap in price over a short duration; but wasn't gold over 800 for awhile about 20 years ago. I'm not a gold investor nor do I track it. I can't immagine how we are going to avoid hyper-inflation, however, with the printing presses running 24-7. So gold is on my mind. Maybe one of the viewers could direct me to link of info on precious metals designed for joe public or a Rube.
Last edited:
weatherweenie
Well-known member
After one spectacular failure, the $700 billion financial industry bailout found a second life Wednesday, winning lopsided passage in the Senate and gaining ground in the House, where Republicans opposition softened. Senators loaded the economic rescue bill with tax breaks and other sweeteners before passing it by a wide margin, 74-25, a month before the presidential and congressional elections
Futures are red: http://www.bloomberg.com/markets/stocks/futures.html
as are the Asian markets
Futures are red: http://www.bloomberg.com/markets/stocks/futures.html
as are the Asian markets
weatherweenie
Well-known member
08:34 am : S&P futures vs fair value: -13.10. Nasdaq futures vs fair value: -18.80. Stock futures have dipped and remain on track for a downward start. Mosaic (MOS) posted earnings of $2.83 per share for its latest quarter, excluding nonrecurring items. The results were still $0.10 short of the consensus earnings per share estimate. Revenue came in at $4.3 billion, exceeding the $4.1 billion average estimate issued by Wall Street. The company also announced it expects lower phosphate sales volume in 2009. Shares of MOS were downgraded at Merrill Lynch. Marriott (MAR) earned $0.34 per share in its most recent quarter, topping the consensus estimate of $0.32 per share. Its sales were on par with expectations. It expects fourth quarter earnings to range from $0.44 to $0.50 per share and earnings for 2009 to range from $1.48 to $1.60 per share. Constellation Brands (STZ) posted a profit of $0.45 per share in its most recent quarter. That was $0.01 more than analysts anticipated. Its revenue came in at $956.5 million, a bit below the $966.1 million that was widely expected. The company also issued an in-line earnings outlook for 2009. The Wall Street Journal said Swiss financial giant UBS (UBS) announced it expects to earn a modest profit in the third quarter, which will be reported on November 4, 2008. The company has posted four consecutive quarterly losses. In economic data, jobless claims for the week ending September 27 totaled 497,000, which is more than the 475,000 claims that were expected. Week-over-week, jobless claims were up 1,000. The numbers continue to indicate a relatively soft labor market.
fabijo
Well-known member
It's killing them that they can't short! 
Hedge funds plead with U.S. SEC to let short ban expire
http://www.reuters.com/article/hedgeFundsNews/idUSLNE49107G20081002
Hedge funds plead with U.S. SEC to let short ban expire
http://www.reuters.com/article/hedgeFundsNews/idUSLNE49107G20081002
Silverbird
Well-known member
"Ohhh Please! We need to be able to bet these stocks will fall! No, don't sentence us to ...Cash!"It's killing them that they can't short!
James48843
Well-known member
Getting real ugly.
S&P now down almost 3%.
S&P now down almost 3%.
fedgolfer
Well-known member
http://biz.yahoo.com/ap/081002/apfn_insurers_sector_snap.html
TSP annuitants in those "NO"-states better call their Congressmen... don't want that insurer to be Met Life. If its not the one Reid is reffering to, chances are more will fall. Whether it's a scare job or not, do you really want to play Russian roulette with your nest egg?
TSP annuitants in those "NO"-states better call their Congressmen... don't want that insurer to be Met Life. If its not the one Reid is reffering to, chances are more will fall. Whether it's a scare job or not, do you really want to play Russian roulette with your nest egg?
CountryBoy
Well-known member
When are these rubes gonna realize that when they open their big stupid mouths, they have an effect on the financial market, epsecially when everyone is as on edge as they are now.
First Schumer, now Reid. Shut up guys and do your job. If they'd work as hard on solving our Country's problems as they do trying to get face time, we'd be in tall cotton.CB
Silverbird
Well-known member
You're right, donkeys need to stop, or they are going to get this budget bill "tail" attached to them, even though they got more votes than promised last time. This kind of noise only generates lots of Elephant trunk waving and pointing.
It won't keep the blue dogs from possibly leaving - their problem is with all the early Christmas decorations on this version. I don't know why Reid is trying to star on Scare Tactics. I guess it's more in the Halloween season.
Donkeys shut up and get the elephants to pull more of the weight - Senate sent the elephants the off budget tax break decorations they ordered!
It won't keep the blue dogs from possibly leaving - their problem is with all the early Christmas decorations on this version. I don't know why Reid is trying to star on Scare Tactics. I guess it's more in the Halloween season.
Donkeys shut up and get the elephants to pull more of the weight - Senate sent the elephants the off budget tax break decorations they ordered!
budnipper1
Active member
MetLife said in a statement Thursday the comment by Reid did not apply to the insurer and is financially sound.
http://biz.yahoo.com/ap/081002/metlife_mover.html?.v=1
weatherweenie
Well-known member
08:00 am : S&P futures vs fair value: +10.00. Nasdaq futures vs fair value: +12.50. Stock futures have a solid lead on fair value, suggesting a positive tone ahead of the opening bell Friday. Wells Fargo (WFC) is merging with Wachovia Bank (WB) in a stock-for-stock transaction. Wachovia had been looking to combine its banking business with Citigroup (C) in a deal facilitated by the FDIC. The transaction between Wells Fargo and Wachovia does not require any assistance from a government agency, and has been approved unanimously by the boards of both companies. The transaction is valued at $15.1 billion, or $7.00 per WB share. Just a day after announcing it expected to earn a modest profit in its latest quarter, UBS (UBS) announced it is cutting 2,000 investment banking jobs, according to Reuters.
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