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ekekeg
Veteran |
09-Dec-2008 08:51
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I can say, there is no looking back for the global stock markets. The dullest of dullest stock markets i.e.SGX will not be an exception!!!
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Blastoff
Elite |
09-Dec-2008 08:49
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Automaker plan in Bush's courtGM and Chrysler could get a total of $15 billion by Dec. 15 as part of a proposed bailout. Plan now under White House review.NEW YORK (CNNMoney.com) -- The White House is reviewing a congressional proposal to give troubled U.S. automakers a financial lifeline. The companies could get a total of $15 billion in federal loans as soon as Dec. 15, according to a working Democratic draft of proposed legislation and a senior Democratic congressional aide. The proposal, which was delivered to the White House Monday afternoon, remains a work in progress. The bailout was worked on through the weekend on Capitol Hill in an effort to produce a bill that the Bush administration could agree to. The aim is to finalize a bill for a quick vote by Congress, which is meeting this week in lame-duck session. "[This is] a fundamental step towards an agreement," said Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee. "If there is a real desire to get this thing done and prevent adding another disaster to our economic situation, we should have it." The Democrats' bill met some immediate Republican opposition. Sen. Bob Corker, R-Tenn., said "at first glance" the proposal was "lacking the benchmarks" it needs to make sure the companies stay afloat. If the aid package is passed, it could avert the need for General Motors (GM, Fortune 500) and Chrysler LLC to file for bankruptcy and halt operations. The money is less than the $34 billion requested by the industry last week, but the proposed plan would give the new Congress and the incoming Obama administration time to hammer out a longer-range plan to help the industry. The money would come out of funds designated by the Energy Independence and Security Act to help the auto industry produce the next generation of fuel efficient vehicles. Democrats had wanted funding for an automaker rescue to come from the Treasury Department's $700 billion Troubled Asset Relief Program, but the Bush administration balked. But according to Democratic leadership, the Energy Act only allows for $15 billion to be delivered to the industry, since the loan would be "risky." "This is a bad choice we have to make," said House Speaker Nancy Pelosi, D-Calif. "But come Mar. 31, it is our hope that there will be a viable automotive industry in our country, with transparency and accountability to the taxpayer. We think that it is possible." The Bush administration said Monday evening that it was continuing its talks with lawmakers. "Long-term financing must be conditioned on the principle that taxpayers should only assist automakers executing a credible plan for long-term viability," said White House press secretary Dana Perino. What's in the bill
Under the proposal being reviewed by the White House, the president would appoint an individual to write the guidelines for the loan, due by Jan. 1, and oversee the bailout. This person - a so-called "car czar" - would essentially be in charge of setting the terms for restructuring the Big Three automakers. The official would have authority to negotiate with unions, debt holders, suppliers and other "interested parties" to help work out restructuring plans. The plan would also give the Government Accountability Office a special role in overseeing the program. Under the proposal, the government would receive warrants - the right to buy a stake in the companies at a certain price - equal to 20% of the loan's value. That means taxpayers would take a significant share of GM, which has asked for $10 billion in loans. The companies would also have to drop their lawsuits against individual states that have passed laws on emissions standards that are more extensive than the federal government's. GM, Chrysler and Ford Motor (F, Fortune 500) have been asking for loans to help them survive until 2010, when some cost cuts and labor contract savings kick in that could help the Big Three eventually return to profitability. In a statement, GM said it is pleased lawmakers are working on a bill that would give the industry immediate assistance. "Millions of jobs, America's manufacturing base and future competitiveness hang in the balance and we urge quick passage of this bill," the statement said. Chrysler echoed GM, saying it looks forward to working with Congress so that it can complete its restructuring process in an "orderly fashion." GM and Chrysler have warned that they could soon run out of the cash they need for operations without assistance from the government. Ford has said it has enough cash on hand for now and may not need the federal help but that it would still like the funds to be available as a backstop. -- CNN Congressional Correspondent Dana Bash contributed to this story. 
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Blastoff
Elite |
09-Dec-2008 08:47
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Stocks rally for a second dayWall Street advances on Obama's comments on the economy and hopes for an automaker bailout.By Alexandra Twin, CNNMoney.com senior writer
NEW YORK (CNNMoney.com) -- Stocks rallied Monday as investors welcomed President-elect Barack Obama's plan to create jobs and revive the economy, and reports that government help for the automakers is on the way. The Dow Jones industrial average (INDU) jumped 298 points, or 3.5%. During the session, the Dow gained as much as 391 points and topped 9,000 for the first time in a month. The Dow has risen in nine of the last 11 sessions. The Standard & Poor's 500 (SPX) index added 3.8% and the Nasdaq composite (COMP) gained 4.1%. "We're in a very unsettled period where people's opinions swing between hope and fear on very little news," said Ken Kam, portfolio manager of the Masters 100 (MOFQX) Fund. "Right now we are seeing the impact of the hope that maybe the worst is over." Over the weekend, Obama outlined plans to create 2.5 million jobs by 2011 through repairing roads and bridges, modernizing schools and making public buildings more energy efficient, among other initiatives. Additionally, the White House said a deal to help the automakers is near. The Bush administration is reportedly considering a Congressional plan that would make up to $15 billion in loans available as soon as Dec. 15. Stocks surged Friday, erasing morning losses after a brutal November employment report, as investors extended the recent trend of buying despite bad news. That turnaround was key, said Dave Hinnenkamp, CEO at KDV Wealth Management. "We had bad news and the market rallied anyway." That trend has been in place for the last few sessions and seemed to continue Monday, putting a floor under the stock market. "The bottoming process is taking place," Hinnenkamp said. He said that the market has priced in a lot of gloomy news and that the lows hit in late November were significant. Between closing at an all-time high on Oct. 9, 2007, and the recent closing low on Nov. 20, the S&P 500 plunged 52%. As of Monday's close, stocks have rallied 21% off that November low. While that trend is encouraging, markets are going to remain volatile for some time, with the economic news expected to get worse before it gets better. Kam said that it's too soon to see the recent upswing as anything other than a bear-market rally. Nonetheless, it is still a positive development. After the close, package delivery firm FedEx (FDX, Fortune 500) warned that fiscal 2009 earnings won't meet earlier forecasts due to the impact of the slowing economy. The company - seen as an indicator of the broader economy - also said that it sees second-quarter earnings hitting the high end of its previous forecast. Shares lost 8% in extended-hours trading. Competitor UPS (UPS, Fortune 500) slipped 5% in sympathy. Automakers: Reports first surfaced late Friday that Congress and the White House are working on a $15 billion to $17 billion loan package for the Big Three automakers. The proposed loan is short of the $34 billion GM, Ford and Chrysler asked for last week, but would be enough to tide Detroit's automakers over until at least the end of the first quarter of next year. The idea is that this would give the new administration time to come up with a longer-term solution. Meanwhile, President-elect Obama and others in Congress are suggesting a change at the top may be needed. (Full story) GM (GM, Fortune 500) shares gained 20.8%, while Ford Motor (F, Fortune 500) rose 24%. Obama on the economy: Investors also responded to the President-elect's comments over the weekend. Saying that America is facing a financial crisis that is going to get worse, the priority is to create a recovery plan that is equal to the task. He told NBC's "Meet the Press" that the priority will be to create an economic stimulus plan that is big enough to actually help the economy, even if it means expanding the deficit in the short term. Company news: Dow Chemical said it will cut 5,000 full-time jobs, or around 11% of its workforce, close 20 plants and sell several businesses to cut back amid the recession. However, Dow (DOW, Fortune 500) shares gained 7%. 3M (MMM, Fortune 500), a Dow component, cut its 2008 profit outlook and also said 2009 results won't meet estimates. Over the weekend, the company said it is cutting 1,800 staffers worldwide. Shares lost 4%. Anheuser-Busch said it will cut 1,400 jobs, or about 6% of its workforce, with most of the reductions due by the end of the year. The maker of Bud was bought by Belgium's InBev last month in a $52 billion deal. Last week, AT&T (T, Fortune 500), JPMorgan Chase (JPM, Fortune 500) and other companies announced more than 40,000 job cuts. In other news, media company Tribune Co. has filed for bankruptcy protection, due to mounting debts. Among other stock movers, financial shares jumped, including American Express (AXP, Fortune 500), Bank of America (BAC, Fortune 500), Citigroup (C, Fortune 500), JP Morgan Chase (JPM, Fortune 500), Merrill Lynch (MER, Fortune 500) and Goldman Sachs (GS, Fortune 500). Dow stock Alcoa (AA, Fortune 500) and other metal and mining stocks advanced along with the price of the underlying commodities. Dow stock Caterpillar (CAT, Fortune 500) rallied 10.9%. The heavy-equipment maker is one of the companies that would benefit from Obama's infrastructure plan. Market breadth was positive. On the New York Stock Exchange, winners beat losers by over three to one on volume of 1.74 billion shares. On the Nasdaq, advancers topped decliners by over five to two on volume of 2.35 billion shares. Bonds: Treasury prices slipped, raising the yield on the benchmark 10-year note to 2.74% from 2.70% late Friday. The 10-year yield dipped below 3% last month for the first time since the note was first issued in 1962. Treasury prices and yields move in opposite directions. The yield on the 3-month Treasury bill stood at 0.015%, unchanged from late Friday and near the 68-year low of zero hit last month. The bill is seen as the safest place to put cash in the short term. The low yield means investors would rather preserve cash despite little or no interest than risk it in the stock market. Lending rates improved modestly. The 3-month Libor rate held steady at 2.19%, unchanged from Friday, according to Bloomberg. The overnight Libor fell to a record low of 0.19% from 0.28% Friday. Libor is a key bank lending rate. Other markets: Markets around the globe rallied on bets that world economies will continue to take steps to get their economies moving forward again. In Asia, the Japanese Nikkei rallied 5.2% and the Hong Kong Hang Seng gained 8.7%. In Europe, the London FTSE jumped 6.2%. The dollar declined versus the yen and gained against the euro. U.S. light crude oil for January delivery rallied $2.90 to settle at $43.71 a barrel on the New York Mercantile Exchange, after ending the previous session at a four-year low. COMEX gold for February delivery jumped $17.10 to settle at $769.30 an ounce. Gasoline continued its fall to nearly four-year lows, with prices down 1.7 cents to a national average of $1.716 a gallon, according to a survey of credit-card swipes released Monday by motorist group AAA. Prices have been sliding for 2 1/2 months and have dropped more than $2 a gallon, or 55%.
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louis_leecs
Elite |
09-Dec-2008 08:28
Yells: "half cash" |
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tonight dow jones willtest 9000liao,,,,,,,,,,,,hold long wait recovery rally coming,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,wait for charter two coming,,,,,,,,,,cheers |
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iPunter
Supreme |
09-Dec-2008 06:19
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Uncle AK is right... and almost everyone knows it already... |
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AK_Francis
Supreme |
09-Dec-2008 02:43
Yells: "Happy go lucky, cheers." |
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AK opines that currently, countries with sound foreign reserve, are pouring in tons of money to fight the weakening economy, not only their respectively countries but also extended to those needy countries, big countries but not the very very poor countries. Not very sure thats can work, ie looking at US now. As AK said earlier, take a look at today's BT. But jangan tension, d above dun send any alarm signal to disrupt anyone in investment. |
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moneytalk.sg
Member |
09-Dec-2008 02:34
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DJIA still holding steady after a gap up on opening. It's quite close to 9000 already. Blogging at moneytalk.sg on the stock market, ETF and anything to do with money. |
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louis_leecs
Elite |
09-Dec-2008 00:38
Yells: "half cash" |
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i prefer dow jones dont break thru 9000 tonite give some for tomorow and steady ,,confident follow up rally day by day ,,that say 100 to 300 enought liao,,,,,,, | ||||
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handon
Master |
08-Dec-2008 21:21
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Qued to sell at 9.3.... Potentially can go through ..... can go koon liao.....  DOW 9.8 this week got chance.... |
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handon
Master |
08-Dec-2008 15:00
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sayoung...$$$ just slipped under the sleeve.... 9.3 tonite if 8.8 can substain.... BULL OX in town.... still holding 8.94 9.0 9.3 9.47 |
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cheongwee
Elite |
06-Dec-2008 23:43
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PLs read this with your own due diligent... http://www.addictedtoprofits.net/platmembers/LONGBEARSHORTBULL.pdf |
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cheongwee
Elite |
06-Dec-2008 22:58
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It look like rally on the way...look market still rally with bad news..most likely it think this is the bottom...and many analyst and expert said that 7500 is the low for this bear...hope so..then it may rally to 12000 before retreating again...
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louis_leecs
Elite |
06-Dec-2008 22:02
Yells: "half cash" |
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that was a signal buy for all of you,when bad news out cosco managed to open low but bb push up was give me buy buy must buy wait for bear rebound,,,now when you see bad newsout and is a buy excuse for the stock,and im very confident that the railly coming ,just like DOW JONES HIT LOW WILL SPARK A STRONG HUNGRY BUY FROM INVESTOR,,,,,,,,,,,,,CHEERS FOR MY POFOLIO JUST BUY FROM LAST TWO TRADING DAY,,,,,,DIE DIE MUST BUY WHEN DUST FINALLY SETTLE,,,,,,,MY AH MOH REMISER ALSO PUTCH S SHARE LIAO...,,,,,.. | ||||
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moneytalk.sg
Member |
06-Dec-2008 15:40
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I was surprised too by the final hour rally. The last time I check DJIA before I went to sleep yesterday night, it will still red.
Blogging at moneytalk.sg on the stock market, ETF and anything to do with money.
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Hulumas
Supreme |
06-Dec-2008 12:29
Yells: "INVEST but not TRADE please!" |
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Just simply because, you are always in bearish mind. Ha... ha... ha...
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Hulumas
Supreme |
06-Dec-2008 12:27
Yells: "INVEST but not TRADE please!" |
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I am not interested to the past story! What I aim is future reliable, dependable, and potential prospect of forecast or suggestion!
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cashiertan
Elite |
06-Dec-2008 06:17
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My new role model - John Paulson http://www.moneyweek.com/news-and-charts/the-wall-street-investor-who-shorted-subprime--and-made-15bn.aspx The Wall Street investor who shorted subprime – and made $15bn |
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cashiertan
Elite |
06-Dec-2008 05:00
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I was surprise by the final hour rally. i have no clue why it rallied. yesterday didnt get what i want, today did. lucky
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cashiertan
Elite |
06-Dec-2008 03:24
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Dr. Doom Foresees Much More Pain: So Why Is Roubini's 401(k) All in Stocks?Posted Dec 05, 2008 07:00am EST by Aaron Task in Newsmakers, Recession, BankingNouriel Roubini, economics professor at NYU Stern School and chairman of RGE Monitor, has earned the nickname "Dr. Doom" for his dire predictions about the economy over the last couple of years (most of which have come true). So it was a shocker when word got out on Wall Street that Roubini was the most bullish guy in the room at a recent dinner he hosted in NYC. There were even rumors Roubini's retirement account was 100% in stocks (since confirmed). Has Dr. Doom become a raging bull? Not quite. But with the financial meltdown in full, protracted swing, it seems as if the rest of the world has caught up with him. "The mainstream is getting closer to my views about a very severe U.S. and global recession," he says. "On the other side, I'm not in the Armageddon camp," forecasting a severe recession through 2009, but not a repeat of the Great Depression. So why is Roubini's 401(k) 100% in equities? He's not an active investor, and "over 10 to 20 years equities outperform any other asset class," he says in the accompanying video. Unlike so many others, Roubini's not calling a bottom, for sure: He sees another 20%-30% downside risk for stocks, and advises that investors avoid all "risky assets," including commodities for the foreseeable future. Instead, he recommends Treasuries and, over the medium term, corporate debt. In case you need further proof that Dr. Doom hasn't lost his edge, Roubini predicts that macroeconomic news and earnings will be much worse than expected in the coming months, as the dollar weakens even further. "The surprise is how bad the the economy [will get]."At least there's some things you can still count on in an uncertain world |
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cashiertan
Elite |
06-Dec-2008 03:13
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enter dow at 8236. looking good. good swing | ||||
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