Posted on 03/02/2009 3:30:07 AM PST by TigerLikesRooster
Stock futures indicate Dow to fall below 7,000
By Steve Goldstein, MarketWatch
Last update: 6:11 a.m. EST March 2, 2009
LONDON (MarketWatch) -- U.S. stock futures dropped Monday as financial giants like American International Group and HSBC Holdings took moves to raise more capital and as Warren Buffett said the economy would be in "shambles" this year.
Futures on the Dow Jones Industrial Average (DIA) indicated a retreat below the 7,000 level, as the March contract dropped 108 points to 6,944.00. S&P 500 futures (SPY ) fell 14.8 points to 719.40 and Nasdaq 100 futures (QQQQ ) fell 19.75 points to 1,097.20.
U.S. stocks dropped on Friday, and closed the month with its worst performance since 1933. The S&P 500 dropped 10.9%, and has dropped 18.6% so far this year, the worst start to the year on record.
"The path to least resistance remains down," said Alec Young, market strategist at Standard & Poor's. He said Friday's job report might lead to a "real capitulation."
Monday's key report will be the Institute of Supply Management's report on manufacturing sentiment for February. Personal income data for January also will be released, as will January construction spending.
(Excerpt) Read more at marketwatch.com ...
no the market is not acting like a spoiled brat, who do you think invests in the market? Ordinary people not just 401k’s or 403b’s.
Your class warfare observation is just nonsense.
Μολὼν λάβε
And Obama will blame it on Bush cause the messiah can do no wrong.
Honeymoon is over, I want a divorce!
Gates is a suck up.
If they want to save what is left of their money they had better invest in ousting democrats in 2010.
lets not forget obama’s minons of Pogo stick pelosi and reid the radio hater.
And, while you are at it..., wish for free zero point energy and perpetual motion machines! What do you think defined benefit pension plans invest in (hint..., stocks and bonds)
” I used to work for UPS who still has a defined benefit plan which is completely funded and one of the best around. They invest in financial instruments and real estate. Not sure how it would be immune to “whims” or “vagaries”... “
Has anybody crunched some numbers to see what would have happened to Bush’s ‘Social Security Privatization Plan’ under these conditions??
Remember congress is exempt from insider trading rules.
Folks who is going to buy these companies IF they ever go private again? Answer all these beltway insiders.
K-street courtiers and others who have “access” to power will be the ones who are going to make it to their personal books.
Given recent comments by Bwarney Fwank and others, if I had a 401(k) I'd be far more worried about what Congress has in the works for those funds.....
IMHO the stock market is just reverting to the norm, now that credit expansion cannot keep prices at unrealistically high P/Es.
Wall Street operates with a one year time horizon or less (the next bonus). Since those bonuses can be 100’s of thousands, millions, tens of millions, or for the heads of companies, hundreds of millions, one bonus is life changing and they’ve made their fortune. So there is no rational reason to worry about a crash that won’t happen this year.
True about the the P/E ratio’s. I’ve read that they are still not that good historically. Haven’t checked them myself, not ready to buy anything in this environment yet. Value investing has always been the best long term strategy for the individual investor and P/E is the way it’s always been done.
5% of your social security would give a better than 2% return of social secuirty. Remember it is all about people directing their own investment so you have to ask what would they be investing in?
Unionistas would invest in GM, for example.
that is a predictable manipulation.
for example those who watched GM, we could easily see GM suits were not standing up to the UAW. AND you could easily see the UAW did not give a rats posterior about the companies future as long as they got their deal today.
You can see how many insiders own a company.
You can see how mutual funds buy the quality stock in dec and sell in january to play their reports.
Just because blackrock is american express does not mean they are effective, if anything they are just trading on name.
That said which persons do you speak of? corporate? traders?
that is changing because of self directed trading is now automated.
LLS
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