Posted on 03/15/2015 7:00:49 AM PDT by expat_panama
Seems like there's an awful lot of doom'n'gloom out there:
(excerpt from) More Volatility Sends Market Down for a 3rd WeekThe stock market was hit hard on Friday, capping a third week of declines as investors reacted to a steep drop in oil prices and a jump in the value of the dollar.Utilities, major exporters and companies that make basic materials like steel had the biggest declines. The sell-off came at the end of a volatile week, and it sets the stage for a Federal Reserve policy meeting next week. Investors will be watching closely for clues about the central banks views on the economy and interest rates. This week has really been about investors outlooks adjusting in the face of higher interest rates later this year, said Gabriela Santos, a global market strategist at JPMorgan Funds. The Dow Jones industrial average fell 145.91 points, or 0.8 percent, to 17,749.31. The Standard & Poors 500-stock index lost 12.55 points, or 0.6 percent, to 2,053.40, and the Nasdaq lost 21.53 points, or 0.4 percent, to 4,871.76. Continue reading the main story Benchmark United States crude fell $2.21 to close at $44.84 a barrel in New York. Oil is now within 40 cents of its low for the year, and its lowest level in six years, after a drop of 10 percent this week. Brent crude, a benchmark for international oils used by many American refineries, fell $2.41 to close at $54.67 a barrel in London. Several energy stocks followed the price of oil lower... [snip] In the bond market, United States government bond prices did not move much. The yield on the 10-year Treasury note was unchanged at 2.12 percent. Gold edged up 50 cents, to $1,152.40 an ounce, silver fell 2 cents, to $15.49 an ounce, and copper was flat at $2.66 a pound. * * * * * * * * * * * * * * * * * * (excerpt from) US stocks fall for third-straight week; worries about oil prices and interest rates persistThe stock market was hit hard Friday, capping a third week of declines, as investors reacted to a steep drop in oil prices and a jump in the value of the dollar.
Traders gather at a post on the floor of the New York Stock Exchange, Friday, March 13, 2015. U.S. stocks are opening slightly lower a day after the market notched its best performance in five weeks. (AP Photo/Richard Drew)
The Dow Jones industrial average fell 145.91 points, or 0.8 percent, to 17,749.31. The Standard & Poor's 500 index lost 12.55 points, or 0.6 percent, to 2,053.40 and the Nasdaq composite lost 21.53 points, or 0.4 percent, to 4,871.76. Gold edged up 50 cents to $1,152.40 an ounce, silver fell two cents to $15.49 an ounce and copper was flat at $2.66 a pound. In other energy trading, wholesale gasoline fell 4.8 cents... |
(excerpt from) U.S. stocks end rocky stretch with third straight weekly loss
Consumers aren't as optimistic. Sentiment index slides in March.
U.S. stocks suffered another bout of selling on Friday and the main indexes registered losses for a third straight week.
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Then again, universal doom'n'gloom's usually a very bullish indicator. That and the fact that most of the price plunge took place before this past week when the trend turned flat...
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The economy “moderated” from a moderate position already. Looks to me like their feared deflation is still on the horizon.
That ‘deflation’ question had been in my brain right before I saw you post —it’s key. Seems like Yellen’s either too scared to mention it or she refuses to believe it’s there, but the fact that their target is an inflation ceiling is a form of acknowledgment that means they want no part of deflation.
Hey and happy Thursday to ya! Yesterday's 'festivities' included a FOMC announcement and a market upside reversal big time --a percent gain in soaring volume. Metals settled on the bases set back a half year ago but this morning futures see 'em +1.67% (fwiw, stock index futures are @ -0.15% but that's been creeping up). Huge "claims day" document dump:
Initial Claims
Continuing Claims
Current Account Balance
Philadelphia Fed
Leading Indicators
Natural Gas Inventories
--and--
imho it was a nicely written but without a valid point; it falsely advanced a misunderstanding that the primary purpose of the Fed is a growing economy. It isn't. The Fed exists to stabilize the dollar's prices. Sure, an economy grows better with stable prices but economic production comes from producers. There is a big difference between money and wealth --and the Fed knows full well that it can create the first and not the second.
Markets | Yesterday | Today's Futures | |||
metals | Solid base support with gold'n'silver hanging steady at $1,171,40 and $16.22 | Looking good at +0.38%. | |||
stocks | Mixed bag in low volume as the dust settles. | Seeing a resuming advance @ +0.29% |
Let's all sleep late this morning as yesterday went nowhere and today's shaping up like more of the same. There's not even any econ announcements --what could possibly happen today? News:
Why the Fed Can't Raise Interest Rates Yet - John Crudele, New York Post
When Will Interest Rates Rise? Maybe Never - Jeremy Warner, Telegraph
For Bond Traders, Old Strategies Won't Work - Alex Rosenberg, CNBC
Ordinary Investors Now Have Edge over Pros - Peter Coy, Bloomberg BW
Why Haven't Claims from 'Flash Boys' Been Proven? - Bill Harts, CNBC
Smallest 'Errors' Produce the Most Carnage - Jeff Snider, RealClearMarkets
SEC Chair Wants Activist Fights to Be Nicer - Matt Levine, Bloomberg
Threads:
You’re up awful early today. I guess you’ll be wanting to get off early, too - being that it’s Friday and all.
We may have to inspect your timesheets to make sure everything’s in order...
LOL!! just kidding!
Here’s one to add to your list
Banks Struggle to Unload Oil Loans
http://www.freerepublic.com/focus/f-news/3270011/posts
;) busy day already, wife invited 60 people over for a party tomorrow so I had to hit the day running. I’m a morning person anyway...
Interesting —always a shake-up when things change, even when things change for the better.
Here’s when the majors add to their reserves via buyouts, after someone else found it.
I’ve been expecting to see some consolidation at some point.
How did the meeting go? Did it help with understanding the annuity?
It was a NOTHING meeting... All I got was, a way to log in to see my account, and the underlying options for investments. We will meet again next week to talk about it some more.
A Freeper emailed me this link...
https://www.bogleheads.org/wiki/Variable_annuity
Which, helped me understand a BIT more about what I’ve purchased.
I have to say, my oldest son works with this bank, in this investment arm. He has been helping me, and I trust him completely.
I’m not an investment novice.. I have a good handle, IMO, on things like Time Value of money. The terms of this kind of investment seem to me to be “Too Good to be True”... but, I keep reading, looking for loop-holes, and, I don’t see any.
I HOPE it’s as good as it seems. It seems very flexible... Gets better, the longer I can wait... but, is reasonably good if I have to access sooner.
I’m SO uncertain about how long I will work, and what my total retirenmemt funds might be... This seems like a really good, fairly conservative BASE for my retirement plans... Not the whole, for sure... but, a soldid base tio build on.
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