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1201-1220 of 2084
december dun usually bore well with stocks leh..
today will be tuesday blues..
US market closed huge RED last nite - Dow down 1.3% and Nasdaq down 2.2%.
Wonder how bad STI will react today after .... Let's not panic yet. It's still November!
US retail, durable goods, consumer confidence and existing home sales data to be released tonite, and if results are good ..... a Good & Fat rebounce tonite in US.
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MARKET SNAPSHOT
Stocks end sharply lower on dollar, Wal-Mart
Triple-digit Dow loss; Wal-Mart sales drop, GM falls as Ford seeks funds
By Nick Godt, MarketWatch
Last Update: 4:21 PM ET Nov 27, 2006
Google Inc. dropped almost 4% after a Barron's article over the weekend said the Internet-search giant's shares had an "exceedingly rich valuation."
The Dow Jones Industrial Average closed down 158.38 points, or 1.3%, at 12,121.79, a bit above its intraday low of 12,110. Only three Dow components ended the session in positive territory.
General Motors Corp. and Wal-Mart both lost 2.7%. Competitor Ford Motor Co. fell 4.2% after saying it would borrow about $18 billion by the end of 2006 to address its short- and medium-term needs, fund its restructuring and provide a cushion against the possibility of a recession.
The S&P 500 fell 19 points, or 1.4%, to 1,381.95 and Nasdaq Composite dropped 54.34 points, or 2.2%, to 2,405.92.
"This market has been going up since the end of July so we were short-term overbought, which tends to lead to dramatic down days," said Art Hogan, chief market strategist at Jefferies & Co.
"You can point to Wal-Mart, to the weak dollar, energy costs, or Google, but at the end of the day this is just profit-taking," he said.
Retailers were in the spotlight as early reports showed retail sales on "Black Friday" were 6% higher than last year at nearly $9 billion, according to Chicago-based researcher ShopperTrak RTC.
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sorry sound too scary should have put it: STI may close at 2 times what DOW close today (in %). which is like > 2%.
However it may dip and move back up abit.
was sexpecting this kind of dip since last month, now tha it come. see how fierce the correction. 150 points dip in few hours is even more fierce than the May correction.
expect STI to correct 2% or more tomolo since STI like to double DOWs movement
Dow is (@_@). This is one real scary problem over shadowing the rest, niche mkt play will depend again on...., what is bad for DOW and US$ , may not be so bad for other, 2moro red for STI (@_@) (!_!).
This is quite sinister. It means more pple buying from the internet. Retail industry might be in a slow demise for now. In fact, i heard from the radio that singapore's retail increased the slowest in 3 years. People are spending less.
The US Dollar is going to continue its sharp fall. Consequences is that US will spend less. May even cut their trips abroad this holiday season. If consumers feel that recession clouds are looming, they might turn to saving instead of spending. US fed cut will not help the dollar either. Fed will be forced to cut rates next year.
People are starting to describe the US housing slump has not turned from a correction, to a free fall. This means that more people are starting to come to grips with reality. What this means for the DOW is only one way DOWN. Will foreign funds help to boost STI and other asian bourses? My guess is NO. Because our markets are mirror image of each other, and because fundamentally, the global economy isint healthy, we will see much selling.
Can read more at
http://www.geocities.com/rbn_png/index1.html
click "author's take on the economy"
Thanks for supporting the webpage. Webpage has links to other useful websites.
Dow down 97 points, while Nasdaq down 30 points now .... Yucks!
Below economic data to be released 2molo in US in S'pore time:
2045hrs - Retail chain index
2130hrs - Durable goods orders
2300hrs - Consumer confidence
2300hrs - Existing home sales
profit taking lah! Need money to buy Christmas presents!
Ahhh ... Dow down 107 points, while Nasdaq down 26 points now! Wal-Mart & weak USD's doing - a HUGE knee jerk reaction. Hope it recovers at closing.
MARKET SNAPSHOT
U.S. stocks open lower; focus on retailers
Wal-Mart same-store sales drop for first time in 10 years
By Nick Godt, MarketWatch
Last Update: 10:00 AM ET Nov 27, 2006
There are only two bull markets in history that have lasted longer than the current one, which turned 4 in October.
The longest bull market in history was the tech-fueled 1990s boom, according to the Stock Trader's Almanac, which measures that bull from October 1990 through July 1998, nearly 8 years. The second oldest stretched from October 1923 through September 1929, about 6 years.
While investors are hoping the current bull has legs, analysts keep calling for a correction, considering that the Dow is at record highs and the S&P 500 and Nasdaq are at or near 6-year highs.
Trade with caution. Be ready to sell when the trend turns.
Dow down 57 points, while Nasdaq down 15 points now ..... Wow!!! Sigh ...
US market to open RED .... Hey!
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INDICATIONS
U.S. futures drift lower as trading resumes in full
Wal-Mart's U.S. struggles continues, agrees Indian pact
By Steve Goldstein, MarketWatch
Last Update: 8:32 AM ET Nov 27, 2006
LONDON (MarketWatch) -- U.S. stock futures drifted lower on Monday ahead of the first full day of trading in five days, with retailers in the spotlight as a broker turned more optimistic on home-improvement retailers and as Wal-Mart Stores reported sluggish November sales and a venture into the India market.
S&P 500 futures slipped 1.2 points at 1,401.70 and Nasdaq 100 futures dropped 4.25 points at 1,816.00. Dow industrial futures slipped 14 points.
The dollar continued to see weakness against the euro and the British pound, though it rose slightly on the Japanese yen. The euro was trading at $1.3110, the pound at $1.9360 and the dollar at 116.10 yen.
No major U.S. economic data is due out Monday, though housing and durable-goods orders data will come later this week.
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Next week in US market .... loads of economic data in line.
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TheStreet.com Staff Reporter
11/25/2006 8:31 AM EST
A deluge of reports, including new and existing-home sales, consumer confidence and third-quarter economic growth data, will steer next week's market as the all-important holiday shopping season kicks into high gear.
"A lot of the next week's data releases -- especially consumer confidence and personal income and spending -- have major implications for the entire holiday sales outlook," says Phillip Newhart, economist at Wachovia. "Black Friday data may drive trading on Monday morning, but it's more anecdotal and company-specific."
The official start of the holiday spending season on so-called Black Friday, the day after Thanksgiving, started with a bang as shoppers flooded stores across the country in search of bargains. But the event was greeted by selling on Wall Street.
Stocks headed lower in Friday's shortened trading session, sending blue chips lower for the week. The Dow Jones Industrial Average shed 47 points on Friday to close at 12,280, leaving it down 0.5% for the week. The S&P 500 dipped 5 points to 1401 Friday and finished down fractionally for the week. The Nasdaq fell 6 points to 2461 Friday, but rose 14 points, or 0.6%, during the four sessions.
Weakness in stocks on Friday was widely attributed to a drop in the value of the dollar, but it also reflected anxiety about a slowing economy and a broad slump in the U.S. housing market.
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Not a bad week after all though US closed RED last nite .... Nasdaq stronger!
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MARKET SNAPSHOT
U.S. stocks end lower as market closes early
Investors startled by sharp drop in dollar that began overseas
By Leslie Wines, MarketWatch
Last Update: 1:59 PM ET Nov 24, 2006
The Dow Jones Industrial Average closed down 46.78 points at 12,280.17.
The S&P 500 Index and the Nasdaq Composite Index finished down 5.14 points at 1,400.95 and down almost 5.72 points at 2,460.26, respectively.
During the four-day shortened holiday week, the Dow fell 0.5%, the S&P 500 ended almost unchanged and the Nasdaq Composite advanced 0.6%.
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Nasdaq up 1 point, while Dow just down 14 points .... Looks like a Flat day with market closing in 1 hr & 37 mins time. :)
Guess the Americans are superstitous too to end today either Flat or Green .... US market surely uptrend and recovering now. Dow - 23 points while Nasdaq - 4 points now.
Worry not .... It's recovering bit now - Dow down 42 points and Nasdaq down 9 points. Hope the hot retail sales power Black Friday!
It's bad but expected.
A RED Friday ........ Dow down 62 points and Nasdaq 15 points! Didn't expect the fall in USD to hurt US market so badly!