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This Month in Stocks January: 12/28 - 02/01/2008
- Thread starter Show-me
- Start date
vectorman
TSP Pro
- Reaction score
- 21
Re: This Month in Stocks January: 12/28 - 02/01/2007
To add to Show-me's schedule above, President Bush to give State of the Union speech, Monday evening.
http://www.foxnews.com/story/0,2933,325873,00.html
To add to Show-me's schedule above, President Bush to give State of the Union speech, Monday evening.
http://www.foxnews.com/story/0,2933,325873,00.html
350zCommTech
TSP Legend
- Reaction score
- 71
Re: This Month in Stocks January: 12/28 - 02/01/2007
Maybe the futures will tank while he's giving the speech.
Maybe the futures will tank while he's giving the speech.
Show-me
TSP Legend
- Reaction score
- 104
Re: This Month in Stocks January: 12/28 - 02/01/2007
Just after midnight Thursday, bond insurer MBIA (MBI) reported its fourth-quarter results, posting a net loss of $2.3 billion that was far worse than forecasts. The loss was due primarily to a $3.5 billion writedown on its portfolio of insured credit derivatives. Its report followed an announcement late Wednesday night that it had received a $500 million infusion from private-equity firm Warburg Pincus. Shares of MBIA were sharply lower in early Frankfurt trading.
Bond insurers have been hit hard by the subprime crisis after insuring securities backed by mortgages and other loans made to borrowers with weak credit.
Fears that companies like Ambac (ABK) and MBIA could get downgraded by ratings agencies sparked a bout of selling late Wednesday, because losing their AAA credit ratings could cripple their businesses.
The firms have wide influence on the broader markets, guaranteeing more than $2 trillion in debt. There are some reports that Wall Street could be hit with as much as $40 billion in additional writedowns if the insurers are downgraded.
http://money.cnn.com/2008/01/31/markets/stockswatch_ny/index.htm
Just after midnight Thursday, bond insurer MBIA (MBI) reported its fourth-quarter results, posting a net loss of $2.3 billion that was far worse than forecasts. The loss was due primarily to a $3.5 billion writedown on its portfolio of insured credit derivatives. Its report followed an announcement late Wednesday night that it had received a $500 million infusion from private-equity firm Warburg Pincus. Shares of MBIA were sharply lower in early Frankfurt trading.
Bond insurers have been hit hard by the subprime crisis after insuring securities backed by mortgages and other loans made to borrowers with weak credit.
Fears that companies like Ambac (ABK) and MBIA could get downgraded by ratings agencies sparked a bout of selling late Wednesday, because losing their AAA credit ratings could cripple their businesses.
The firms have wide influence on the broader markets, guaranteeing more than $2 trillion in debt. There are some reports that Wall Street could be hit with as much as $40 billion in additional writedowns if the insurers are downgraded.
http://money.cnn.com/2008/01/31/markets/stockswatch_ny/index.htm
Show-me
TSP Legend
- Reaction score
- 104
Re: This Month in Stocks January: 12/28 - 02/01/2007
AP
Microsoft Bids $44.6B for Yahoo
Friday February 1, 6:41 am ET Microsoft to Pay $31 Per Share for Yahoo, Totaling $44.6 Billion in Cash and Stock
REDMOND, Wash. (AP) -- Microsoft Corp. offered to buy search engine operator Yahoo Inc. for $44.6 billion in cash and stock in a move to boost its competitive edge in the online services market.
Microsoft bid $31 per share for Yahoo, representing a 62 percent premium to Yahoo's closing stock price Thursday.
AP
Microsoft Bids $44.6B for Yahoo
Friday February 1, 6:41 am ET Microsoft to Pay $31 Per Share for Yahoo, Totaling $44.6 Billion in Cash and Stock
REDMOND, Wash. (AP) -- Microsoft Corp. offered to buy search engine operator Yahoo Inc. for $44.6 billion in cash and stock in a move to boost its competitive edge in the online services market.
Microsoft bid $31 per share for Yahoo, representing a 62 percent premium to Yahoo's closing stock price Thursday.
Show-me
TSP Legend
- Reaction score
- 104
Re: This Month in Stocks January: 12/28 - 02/01/2007
The January Barometer
Last Update: 31-Jan-08 13:32 ET
The Stock Trader's Almanac is full of insightful observations about the stock market's behavior. One observation, though, that many investors might not be too keen about hearing is the so-called January Barometer.
According to The Stock Trader's Almanac, the January Barometer states that as the S&P goes in January, so goes the year. Yikes! As of this posting, which is being made on the last day of January, the S&P 500 is down 7.1%.
The good news for readers is that the barometer doesn't have a perfect track record. The bad news is that it has registered only five major errors since 1950 - in 1966, 1968, 1982, 2001 and 2003.
Might 2008 be a period that ends up being recorded as a "major error?" If Briefing.com's forecast for a 2% to 4% gain in the S&P 500 this year pans out, then it would not. The Almanac characterizes a gain of +/- 5% as "flat" as opposed to a "major error" versus the January reading. Incidentally, when these flat years are included, the success rate of the barometer drops to 75%.
At this juncture, a 2% to 4% gain must sound pretty good to many readers given the S&P's current standing and considering the tremendous volatility we have seen to start the new year.
The volatility has been a function of changing expectations on the economy, Fed policy, financial sector reports, and market leadership.
The volatility is expected to persist for the time being, yet we continue to stand by our forecast given the salutary effects of the Fed's rate-cutting action, the impending arrival of fiscal stimulus, the prospect of a turn in financial sector earnings in the back half of the year, and conceivably, some stabilization in the housing market that will lessen the drag on GDP. Separately, the stock market remains attractively valued as evidenced by an earnings yield of 7.0% versus the 10-year note yield of 3.60%.
Our view doesn't mean the market won't trade lower from current levels. It might. When the final number is registered, though, we think it will show that the January Barometer wasn't as accurate as many investors may now be fearing.
--Patrick J. O'Hare, Briefing.com
The January Barometer
Last Update: 31-Jan-08 13:32 ET
The Stock Trader's Almanac is full of insightful observations about the stock market's behavior. One observation, though, that many investors might not be too keen about hearing is the so-called January Barometer.
According to The Stock Trader's Almanac, the January Barometer states that as the S&P goes in January, so goes the year. Yikes! As of this posting, which is being made on the last day of January, the S&P 500 is down 7.1%.
The good news for readers is that the barometer doesn't have a perfect track record. The bad news is that it has registered only five major errors since 1950 - in 1966, 1968, 1982, 2001 and 2003.
Might 2008 be a period that ends up being recorded as a "major error?" If Briefing.com's forecast for a 2% to 4% gain in the S&P 500 this year pans out, then it would not. The Almanac characterizes a gain of +/- 5% as "flat" as opposed to a "major error" versus the January reading. Incidentally, when these flat years are included, the success rate of the barometer drops to 75%.
At this juncture, a 2% to 4% gain must sound pretty good to many readers given the S&P's current standing and considering the tremendous volatility we have seen to start the new year.
The volatility has been a function of changing expectations on the economy, Fed policy, financial sector reports, and market leadership.
The volatility is expected to persist for the time being, yet we continue to stand by our forecast given the salutary effects of the Fed's rate-cutting action, the impending arrival of fiscal stimulus, the prospect of a turn in financial sector earnings in the back half of the year, and conceivably, some stabilization in the housing market that will lessen the drag on GDP. Separately, the stock market remains attractively valued as evidenced by an earnings yield of 7.0% versus the 10-year note yield of 3.60%.
Our view doesn't mean the market won't trade lower from current levels. It might. When the final number is registered, though, we think it will show that the January Barometer wasn't as accurate as many investors may now be fearing.
--Patrick J. O'Hare, Briefing.com
FUTURESTRADER
TSP Pro
- Reaction score
- 17
Re: This Month in Stocks January: 12/28 - 02/01/2007
And, just for insurance, knowing that the jobs number would be the worst in 52 months, do you think Bernanke, (or even Dubyah) gave Bill Gates a call and asked him to make some good news today to overshadow the jobs report? "C'mon Bill, take one for the team, the market will tank when this jobs number comes out".
And, just for insurance, knowing that the jobs number would be the worst in 52 months, do you think Bernanke, (or even Dubyah) gave Bill Gates a call and asked him to make some good news today to overshadow the jobs report? "C'mon Bill, take one for the team, the market will tank when this jobs number comes out".
