Skip to comments.Dow’s winning streak ends; dollar falls
Posted on 03/15/2013 2:13:20 PM PDT by Olog-hai
Wall Street stocks fell on Friday as a drop in JPMorgan Chase led to the end of Dow Jones industrial averages 10-day rally, while the dollar retreated from a seven-month high despite more signs the U.S. economy is strengthening.
With the pullback in U.S. stock prices, the broader Standard & Poors 500 index .SPX failed to make another run to break its all-time closing high, while European shares retreated from 4½-year highs.
Investors shifted some money into safe-haven gold and U.S. and German government debt ahead of the weekend.
The Dow Jones industrial average .DJI ended down 25.03 points, or 0.17 percent, at 14,514.11. The S&P 500 lost 2.53 points, or 0.16 percent, at 1,560.70. The Nasdaq Composite Index .IXIC fell 9.86 points, or 0.30 percent, to 3,249.07.
(Excerpt) Read more at reuters.com ...
OMG, the sky is falling, the sky is falling!!
The economy may indeed be improving, but with the government spending (printing) far more than GDP is rising, I think we’re still deep in a real recession. I don’t understand how even 2% growth—we aren’t there, yet—is considered an expanding economy when the annual federal deficit is running at around 10% of GDP. The government keeps trying to pump up the economy and might even be making a little headway, but the real economic situation is pretty deflated.
“”while the dollar retreated from a seven-month high despite more signs the U.S. economy is strengthening”””
Yeah, sure it is. With trillions of dollars in freshly printed fake money.
Boy, is this turning out not to be my lucky day!
Any breath of life that the economy shows (and I don’t see that it is showing any beyond Bernanke balloon-blowing) will be snuffed out as the full burden of ObamaCare comes on line.
Huge volume and they don’t even mention it?
I assume it was one of those “witching” days when contracts have to be cleared up or whatever...
Another Reuters story:
“Volume was robust because of ‘quadruple witching’ - the quarterly settlement and expiration of four different types of March equity futures and options contracts.”
It’s really stupid to talk about a .16 % daily change in the index. The index goes up and the index goes down. If the analysts haven’t figured it out by now, they are stupid.
(yes, they are stupid)
Its Going To End Badly
Sorry...nosey...can't help wondering what else took a dip?
Rooters has discovered what hair-on-fire screechy bloggers have known for years. Nothing encourages click-through quite like a panicky hotbutton headline.
Nosey, you are not! Typical, ordinary middle-class problems during Obama’s watch: job problems and money problems. Add a little family trouble and you’ve got quite a brew!
Yes it’s a stressful time all around.
Things can be going well and I still wake up owly and growly.
I generally head to the gym and goad someone into yelling at me just to snap out of it!