One year --
Five years --
Posted on 07/25/2010 9:30:06 AM PDT by Steelfish
Stocks on Brink Of Breakout By REUTERS July 25, 2010
NEW YORK (Reuters) - Wall Street enters this week on the cusp of a breakout in U.S. stocks, but it will need another spate of convincing earnings reports to feed the rally that sprouted at the end of last week.
The markets endured malaise with poor economic data and downbeat testimony from Federal Reserve Chairman Ben Bernanke on Wednesday, but turned decisively after a number of strong results pointed to better times ahead.
This week brings more results from bellwethers including Chevron, DuPont and Boeing. The trick will be turning the whipsaw action into accumulated gains -- and hoped-for improvements in volume -- that would signal an upturn in sentiment.
"There's a constant struggle between the bulls and the bears when in fact the answer is in the middle ground. This market is more like a turkey and not a bull or a bear," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Fund Management in Menomonee Falls, Wisconsin.
Investors have been forced to readjust their expectations for the economy, with data showing the pace of the recovery has gone from a sprint to a crawl.
(Excerpt) Read more at nytimes.com ...
Your description is of the stock market corca the mid 1990s before glass stegall was repealed and before hedge funds had carte blanche. Today it is all hedge funds, high frequency trading computer programs and endless forms of manipulation.
Ah yes, the weekly Monday pump up for the weekly Friday dump off.
It’s certainly no longer a means of connecting capital to sound businesses. It’s a casino, run by, and for, insiders.
ping
Bull.. We will put whatever money we have left in the market to chase after our losses, then they will crash the market again.
The threat of TAX increases are keeping this economy in peril. IMHO
IMHO, real financial market reform would be to let the little guys like you and me have a chance again. Like it was pre 2000.
Tax increases coupled with selective enforcement and complete rejection of contracts and the rule of law...
I had hoped to buy back in just prior to November, thinking that the economy would improve if one or both houses of congress were captured by the Repubs.
On the other hand, if Bush's tax cuts are allowed to expire in January, the economy is going to tank.
Uncertainty is a powerful weapon if you're trying to destroy the economy.
Let me know when housing recovers which is the engine of the economy.
Pray for America
Well said.
No jobs, people who have jobs in fear of losing them, housing market in the toilet and about to be flushed, consumer confidence at a new low, and in an economy 2/3 driven by consumer spending with consumers NOT SPENDING, just WHO will be spending the money necessary to keep earnings up?
Companies have increased profits through cost cutting (layoffs) and increased production (again fewer employees doing more work), and have seen all of that they can see. Any further growth has to come from consumer spending and I’m not seeing any of that.
Let’s not confuse the stock market with the economy. Unless and until consumers resume spending we are going nowhere. Companies are today sitting on 1.8 TRILLION in cash. They are doing so because of uncertainty and uncertainty is what the markets hate the most.
Anyone here disagree?
If I knew what to look for , I wouldn't tell anybody for free either.
++++ . If it falls, who cares? +++++
How about govt. pensions? Guess who’s “invested” in the market?...and has a driving interest in saving their own, while the rest go unemployed or are taxed into nothingness?
One year --
Five years --
++++ . If it falls, who cares? +++++
How about govt. pensions? Guess who’s invested in the market?...and has a driving interest in saving their own, while the rest go unemployed or are taxed into nothingness?
Sprint? LOLOLOLOLOL.
Yeah...and Applied Materials just quit out of the silar cell equipment manufacturing sector...loss of 500 jobs...
Hows that hope and change for green jpbs going.
From AMAT press release:
While Applied has delivered significant innovations with our SunFab production line and made substantial progress on our technology roadmap, the thin film market has been negatively impacted by several factors, including delays in utility-scale solar adoption, solar panel manufacturers’ challenges in obtaining affordable capital, changes and uncertainty in government renewable energy policies, and competitive pressure from crystalline silicon technologies,” said Mike Splinter, chairman and CEO of Applied Materials. “Led by Mark Pinto, EES will focus on our industry-leading crystalline silicon solar business and on pursuing other opportunities in advanced energy technologies like LED lighting.”
The company also plans to divest its low-emissivity architectural glass coating products, while continuing development activities in emerging technologies such as “smart” electrochromic glass.
The cost of implementing the EES restructuring plan is expected to be in the range of approximately $375 million to $425 million, or $0.18 to $0.21 per share, which will be reported as cost of products sold and restructuring and asset impairments in the company’s consolidated statements of operations for the third quarter of fiscal 2010. As part of the total pre-tax cost, Applied anticipates that it will record: (i) inventory charges of up to $240 million; (ii) equipment and intangible assets impairment charges of up to $95 million; (iii) employee severance of up to $50 million; and (iv) other obligations of up to $40 million. This action is expected to impact between 400 to 500 positions globally. A number of affected employees may transfer to other groups or functions within the company. Cash expenditures related to these charges are expected to be no more than $80 million. In addition to the charges under the EES plan, the company will record a favorable adjustment of approximately $20 million to the restructuring plan previously announced on November 11, 2009 due to changes in business requirements.
I’m with you. The uncertainty prior to the election will be driving it. As the polls lead up to Nov. 2, however, things should get interesting-!
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