人生最缺少的不是时间和金钱，而是信任和安全感..
Sunday, November 20, 2011
Thursday, November 17, 2011
Stocks sink after Fitch warns on US bank exposure
NOTE :
HSI DOWN 18,960.90 (-387.54 OR -2%) on 16-11-11
DOW DOWN 11,905.59, (-190.57, or -1.6%)
Stocks take a late slide as a Fitch report on US bank exposure sets off more Europe jitters
NEW YORK (AP) -- A warning from Fitch Ratings that large U.S. banks could be hit hard if Europe's debt crisis spreads sent stocks falling late Wednesday.
U.S. indexes were moving between small gains and losses before Fitch released its report around 3:15 p.m. Eastern time. The Dow was down 36 points with an hour of trading left, then plunged to end the day down 190.
Fitch, one of the three main credit ratings agencies along with S&P and Moody's, said U.S. banks could be "greatly affected" if Europe's debt crisis continues to spread beyond financially troubled countries such as Greece, Ireland and Portugal.
Large banks took a late dive. Bank of America Corp. and JPMorgan Chase & Co. each lost 3.7 percent. Goldman Sachs dropped 4.1 percent and Morgan Stanley 7.9 percent.
"This is a long-running, slow-developing story," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. U.S. stocks had rallied in the past week as new governments took over in Greece and Italy and promised to implement budget reforms. It's a familiar pattern, Ablin said. "It seems like it's always one step forward and two steps back."
The Dow Jones industrial average closed at 11,905.59, a loss of 190.57, or 1.6 percent. It was the Dow's first close below 12,000 since last Thursday.
The Standard & Poor's 500 index fell 20.89 points, or 1.7 percent, to 1,236.92. The Nasdaq composite lost 46.59, or 1.7 percent, to 2,639.61.
Concerns that the debt troubles of Greece and Italy could spread have been driving the borrowing rates of France higher on bond markets since the beginning of November.
http://finance.yahoo.com/news/stocks-sink-fitch-warns-us-210619571.html
HSI DOWN 18,960.90 (-387.54 OR -2%) on 16-11-11
DOW DOWN 11,905.59, (-190.57, or -1.6%)
Stocks take a late slide as a Fitch report on US bank exposure sets off more Europe jitters
NEW YORK (AP) -- A warning from Fitch Ratings that large U.S. banks could be hit hard if Europe's debt crisis spreads sent stocks falling late Wednesday.
U.S. indexes were moving between small gains and losses before Fitch released its report around 3:15 p.m. Eastern time. The Dow was down 36 points with an hour of trading left, then plunged to end the day down 190.
Fitch, one of the three main credit ratings agencies along with S&P and Moody's, said U.S. banks could be "greatly affected" if Europe's debt crisis continues to spread beyond financially troubled countries such as Greece, Ireland and Portugal.
Large banks took a late dive. Bank of America Corp. and JPMorgan Chase & Co. each lost 3.7 percent. Goldman Sachs dropped 4.1 percent and Morgan Stanley 7.9 percent.
"This is a long-running, slow-developing story," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. U.S. stocks had rallied in the past week as new governments took over in Greece and Italy and promised to implement budget reforms. It's a familiar pattern, Ablin said. "It seems like it's always one step forward and two steps back."
The Dow Jones industrial average closed at 11,905.59, a loss of 190.57, or 1.6 percent. It was the Dow's first close below 12,000 since last Thursday.
The Standard & Poor's 500 index fell 20.89 points, or 1.7 percent, to 1,236.92. The Nasdaq composite lost 46.59, or 1.7 percent, to 2,639.61.
Concerns that the debt troubles of Greece and Italy could spread have been driving the borrowing rates of France higher on bond markets since the beginning of November.
http://finance.yahoo.com/news/stocks-sink-fitch-warns-us-210619571.html
Wednesday, November 16, 2011
NOTE :
HSI DOWN 19,348.44 (-159.74 OR - 0.82%)on 15-11-11
DOW UP 12,096.16 (+ 17.18 OR + 0.14%)
NEW YORK (AP) -- A day of broad swings in the stock market ended with modest gains Tuesday, as investors balanced an increase in U.S. retail sales with Europe's lingering debt crisis. The Dow Jones industrial average gained 17 points.
http://finance.yahoo.com/news/stocks-edge-higher-retail-gains-220206191.html
HSI DOWN 19,348.44 (-159.74 OR - 0.82%)on 15-11-11
DOW UP 12,096.16 (+ 17.18 OR + 0.14%)
NEW YORK (AP) -- A day of broad swings in the stock market ended with modest gains Tuesday, as investors balanced an increase in U.S. retail sales with Europe's lingering debt crisis. The Dow Jones industrial average gained 17 points.
http://finance.yahoo.com/news/stocks-edge-higher-retail-gains-220206191.html
Tuesday, November 15, 2011
Stocks slip as Italian bond sale renews euro fears
NOTE :
HSI UP 19,508.18 (+371-01 or + 1.94%) on 14-11-11
DOW DOWN 12,078.98 (-74.70 or -0.61%) "
Stocks slide as higher borrowing rates for Italy renew Europe concerns; JC Penney sinks
NEW YORK (AP) -- The stock market fell Monday after a jump in Italy's borrowing costs reminded investors of how much work remains to be done to contain Europe's debt problems.
The Dow Jones industrial average lost nearly 75 points. Bank stocks fell the most. European markets also fell and the euro weakened against the dollar.
Major indexes closed higher last week as Greece and Italy moved to form new governments and took other decisive steps to get their debt troubles under control. However worrisome signs re-emerged Monday.
The Italian government had to pay 6.29 percent at an auction of five-year bonds, the highest rate since since 1997. Italy paid a much lower rate of 5.32 percent at a similar auction last month. That's a sign investors are still concerned about Italy's ability to repay its debts. Stocks tanked last Wednesday after key Italian borrowing rates jumped above 7 percent, a level widely seen as unsustainable.
http://finance.yahoo.com/news/stocks-slip-italian-bond-sale-202344464.html
HSI UP 19,508.18 (+371-01 or + 1.94%) on 14-11-11
DOW DOWN 12,078.98 (-74.70 or -0.61%) "
Stocks slide as higher borrowing rates for Italy renew Europe concerns; JC Penney sinks
NEW YORK (AP) -- The stock market fell Monday after a jump in Italy's borrowing costs reminded investors of how much work remains to be done to contain Europe's debt problems.
The Dow Jones industrial average lost nearly 75 points. Bank stocks fell the most. European markets also fell and the euro weakened against the dollar.
Major indexes closed higher last week as Greece and Italy moved to form new governments and took other decisive steps to get their debt troubles under control. However worrisome signs re-emerged Monday.
The Italian government had to pay 6.29 percent at an auction of five-year bonds, the highest rate since since 1997. Italy paid a much lower rate of 5.32 percent at a similar auction last month. That's a sign investors are still concerned about Italy's ability to repay its debts. Stocks tanked last Wednesday after key Italian borrowing rates jumped above 7 percent, a level widely seen as unsustainable.
http://finance.yahoo.com/news/stocks-slip-italian-bond-sale-202344464.html
Monday, November 14, 2011
Euro watch in force; data may offer distractions
NOTE:
HSI UP 19,137.17 (+173.28 or + 0.91%)on 11-11-11
DOW UP 12,153.68 (+259.89 or +2.19%)on 11-11-11
“GDP releases for Germany, France and the euro zone will be closely watched to assess the impact of the crisis on the real economy in [the third quarter],” economists at Markit said in a research note Friday. “Growth rates may have rebounded in France and in Germany.”
The Bank of England’s quarterly inflation report will be released on Wednesday. The report will also give “important insight into how the crisis has affected the growth and inflation outlook,” Markit economists said. “The report will no doubt show a more pessimistic growth outlook, and will be scrutinized for clues as to whether more [quantitative easing] will be announced in December.”
http://www.marketwatch.com/story/euro-watch-in-force-data-may-offer-distractions-2011-11-11?pagenumber=2
Friday, November 11, 2011
Progress in Italy, Greece on debt sends stocks up
Dear Readers,
Be this day a special day (11.11.11) in our lifetime to remember and cherish. We are bless to live in this century to be friends. Let me take this opportunity to thank you for bringing laughter and happiness into my life. May we continue to grow wiser, stronger and learn together... cheers ...
NOTE :
DOW UP 11,893.79 (+112.85 OR +0.96%)
HSI DOWN 18,963.89 (-1,050.54 OR -5.25%)
Successful bond sale in Italy, naming of new PM in Greece ease euro fears, send markets higher
NEW YORK (AP) -- Signs of progress in Europe's debt crisis and an unexpected drop in unemployment claims pushed stocks higher Thursday, a day after the stock market took its worst fall since the summer.
Greece named a new prime minister Thursday and Italy borrowed $6.8 billion at lower interest rates than analysts expected. Italy's benchmark rate dropped below 7 percent after spiking above that level Wednesday.
Investors were also relieved by talk that the economist Mario Monti is likely to replace Premier Silvio Berlusconi, who was seen as an obstacle to meaningful economic reforms. Italy's president pledged that Berlusconi will step down soon.
The Dow Jones industrial average rose 112.92 points, or 1 percent, to close at 11,893.86. It plunged 389 points Wednesday after Italy's borrowing rates soared and talks in Greece to name a new prime minister broke down. Traders have been concerned that debt troubles in Italy and Greece could create a liquidity crisis and lead to a global financial meltdown.
http://finance.yahoo.com/news/progress-italy-greece-debt-sends-160240444.html
Be this day a special day (11.11.11) in our lifetime to remember and cherish. We are bless to live in this century to be friends. Let me take this opportunity to thank you for bringing laughter and happiness into my life. May we continue to grow wiser, stronger and learn together... cheers ...
NOTE :
DOW UP 11,893.79 (+112.85 OR +0.96%)
HSI DOWN 18,963.89 (-1,050.54 OR -5.25%)
Successful bond sale in Italy, naming of new PM in Greece ease euro fears, send markets higher
NEW YORK (AP) -- Signs of progress in Europe's debt crisis and an unexpected drop in unemployment claims pushed stocks higher Thursday, a day after the stock market took its worst fall since the summer.
Greece named a new prime minister Thursday and Italy borrowed $6.8 billion at lower interest rates than analysts expected. Italy's benchmark rate dropped below 7 percent after spiking above that level Wednesday.
Investors were also relieved by talk that the economist Mario Monti is likely to replace Premier Silvio Berlusconi, who was seen as an obstacle to meaningful economic reforms. Italy's president pledged that Berlusconi will step down soon.
The Dow Jones industrial average rose 112.92 points, or 1 percent, to close at 11,893.86. It plunged 389 points Wednesday after Italy's borrowing rates soared and talks in Greece to name a new prime minister broke down. Traders have been concerned that debt troubles in Italy and Greece could create a liquidity crisis and lead to a global financial meltdown.
http://finance.yahoo.com/news/progress-italy-greece-debt-sends-160240444.html
Thursday, November 10, 2011
You Are The Hunter Or The Prey ? You Have The Choice ...
Dow sinks 389 as Europe uncertainty deepens
NOTE :
HSI UP 20,014.43 (+335.96 or +1.71%)
DOW DOWN 11,780.94 ( -389.24 -3.20%)
Dow plunges 389 as Italy's borrowing rate soars and Greek political chaos deepens
NEW YORK (AP) -- Trouble on two fronts in the European debt crisis sent American stocks tumbling Wednesday to their biggest loss since the rocky trading of last summer. The Dow Jones industrial average fell almost 400 points.
Stocks were down from the opening bell after borrowing costs in Italy spiked to dangerous levels, a sign that investors are losing faith in Italy's ability to repay its national debt.
"Italy is potentially too big to bail out, but that's the problem," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "It's spiraling out, and the question is now, how do you fix it?"
In Greece, meanwhile, power-sharing talks aimed at avoiding a default broke down in chaos.
The Italian economy is more than six times larger than that of Greece, which so far has been the center of the continent's debt problem. American investors are worried that the consequences from Europe could include a freeze in lending, the disintegration of the euro currency or a bruising recession that would hurt the U.S.
They sold stocks as a result. The Dow finished down 389.24 points, at 11,780.94.
http://beta.finance.yahoo.com/news/dow-sinks-389-europe-uncertainty-222541915.html
The uncertainty and big twists seems a routine sentiments ... therefore...you are the hunter or the prey during this routine ? You have the choice ...
NOTE :
HSI UP 20,014.43 (+335.96 or +1.71%)
DOW DOWN 11,780.94 ( -389.24 -3.20%)
Dow plunges 389 as Italy's borrowing rate soars and Greek political chaos deepens
NEW YORK (AP) -- Trouble on two fronts in the European debt crisis sent American stocks tumbling Wednesday to their biggest loss since the rocky trading of last summer. The Dow Jones industrial average fell almost 400 points.
Stocks were down from the opening bell after borrowing costs in Italy spiked to dangerous levels, a sign that investors are losing faith in Italy's ability to repay its national debt.
"Italy is potentially too big to bail out, but that's the problem," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "It's spiraling out, and the question is now, how do you fix it?"
In Greece, meanwhile, power-sharing talks aimed at avoiding a default broke down in chaos.
The Italian economy is more than six times larger than that of Greece, which so far has been the center of the continent's debt problem. American investors are worried that the consequences from Europe could include a freeze in lending, the disintegration of the euro currency or a bruising recession that would hurt the U.S.
They sold stocks as a result. The Dow finished down 389.24 points, at 11,780.94.
http://beta.finance.yahoo.com/news/dow-sinks-389-europe-uncertainty-222541915.html
The uncertainty and big twists seems a routine sentiments ... therefore...you are the hunter or the prey during this routine ? You have the choice ...
Wednesday, November 9, 2011
Berlusconi promises to resign amid Italy debt woes
NOTE :
HSI UP 19,678.47 (+0.58)
DOW UP 12,170.18 (+101.79 OR +0.84%)
End of an era: Debt crisis forces Berlusconi to promise to resign, Greece to get new PM
By Derek Gatopoulos, Associated Press | AP – 1 hour 14 minutes ago
..
ROME (AP) -- Italian Premier Silvio Berlusconi conceded Tuesday he no longer had the support to govern and announced he would resign like his Greek counterpart, becoming the biggest political casualty yet of the European debt crisis.
Berlusconi promised to leave office after Parliament passes economic reforms demanded by the European Union to keep Italy from sinking into Europe's debt mess. He came to the decision hours after a vote on a routine piece of legislation made it clear he no longer commanded a majority in the lower Chamber of Deputies.
A vote on the reform measures is planned for next week, giving Berlusconi a few more days before his turbulent 17 years in public life — and a political era in Italy — draw to a close. Over the years, Italy's political establishment watched as the media mogul survived sex scandals and corruption charges while branding his opponents communists, traitors and terrorists.
Both Italy and Greece are under heavy pressure to reassure financial markets that the 17-country eurozone is moving quickly to reduce crippling government debts before they break apart the monetary union and plunge the world into a new recession.
http://beta.finance.yahoo.com/news/berlusconi-promises-resign-amid-italy-192448625.html
HSI UP 19,678.47 (+0.58)
DOW UP 12,170.18 (+101.79 OR +0.84%)
End of an era: Debt crisis forces Berlusconi to promise to resign, Greece to get new PM
By Derek Gatopoulos, Associated Press | AP – 1 hour 14 minutes ago
..
ROME (AP) -- Italian Premier Silvio Berlusconi conceded Tuesday he no longer had the support to govern and announced he would resign like his Greek counterpart, becoming the biggest political casualty yet of the European debt crisis.
Berlusconi promised to leave office after Parliament passes economic reforms demanded by the European Union to keep Italy from sinking into Europe's debt mess. He came to the decision hours after a vote on a routine piece of legislation made it clear he no longer commanded a majority in the lower Chamber of Deputies.
A vote on the reform measures is planned for next week, giving Berlusconi a few more days before his turbulent 17 years in public life — and a political era in Italy — draw to a close. Over the years, Italy's political establishment watched as the media mogul survived sex scandals and corruption charges while branding his opponents communists, traitors and terrorists.
Both Italy and Greece are under heavy pressure to reassure financial markets that the 17-country eurozone is moving quickly to reduce crippling government debts before they break apart the monetary union and plunge the world into a new recession.
http://beta.finance.yahoo.com/news/berlusconi-promises-resign-amid-italy-192448625.html
Tuesday, November 8, 2011
Wall Street edges up, swayed by Europe
NOTE :
HSI DOWN 19,677.89 (-164.9)
DOW UP 12,068.39 (+85.15 OR +0.71%)
Stocks closed a volatile, lightly traded session slightly higher on Monday, with sentiment continuing to shift with the latest headline from Europe.
Wall Street spent most of the session lower before rebounding after Juergen Stark, a member of the European Central Bank's Executive Board, said the region's debt crisis might be overcome in "one or two years at the latest."
In a signal that investors remain cautious, the strongest performers were healthcare and telecommunications stocks, both considered defensive sectors. The S&P Health Care sector rose 1.2 percent, with Pfizer Inc gaining 2.1 percent to $20.07.
Volatility in the stock market has become more closely correlated with shifts in European bond markets, another sign of Europe's influence on U.S. equities.
"Given the overhang that Europe has been having on equities, stocks are going to be subject to intraday moves based on innuendo or conjecture as much as fact," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.
"Any news that's viewed positively is going to move the market, but I don't trust the move. We could just as easily fall back down."
http://beta.finance.yahoo.com/news/futures-signal-weaker-start-equities-094128965.html;_ylt=ApLXrxr0tvJviCtLUW4RKLcq24dG;_ylu=X3oDMTQzMGw1NW1zBG1pdANGaW5hbmNlIEZQIEp1bWJvdHJvbiBMaXRlBHBrZwMwYWY0YjcyMy05Mzc2LTMxYWYtYTAxNS0xYTIyYjNjNzJkMzQEcG9zAzEEc2VjA2p1bWJvdHJvbgR2ZXIDN2Y1ZTM4MDAtMDk4Zi0xMWUxLWFmZWItZWNkZDIwNjg4NjE5;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
HSI DOWN 19,677.89 (-164.9)
DOW UP 12,068.39 (+85.15 OR +0.71%)
Stocks closed a volatile, lightly traded session slightly higher on Monday, with sentiment continuing to shift with the latest headline from Europe.
Wall Street spent most of the session lower before rebounding after Juergen Stark, a member of the European Central Bank's Executive Board, said the region's debt crisis might be overcome in "one or two years at the latest."
In a signal that investors remain cautious, the strongest performers were healthcare and telecommunications stocks, both considered defensive sectors. The S&P Health Care sector rose 1.2 percent, with Pfizer Inc gaining 2.1 percent to $20.07.
Volatility in the stock market has become more closely correlated with shifts in European bond markets, another sign of Europe's influence on U.S. equities.
"Given the overhang that Europe has been having on equities, stocks are going to be subject to intraday moves based on innuendo or conjecture as much as fact," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.
"Any news that's viewed positively is going to move the market, but I don't trust the move. We could just as easily fall back down."
http://beta.finance.yahoo.com/news/futures-signal-weaker-start-equities-094128965.html;_ylt=ApLXrxr0tvJviCtLUW4RKLcq24dG;_ylu=X3oDMTQzMGw1NW1zBG1pdANGaW5hbmNlIEZQIEp1bWJvdHJvbiBMaXRlBHBrZwMwYWY0YjcyMy05Mzc2LTMxYWYtYTAxNS0xYTIyYjNjNzJkMzQEcG9zAzEEc2VjA2p1bWJvdHJvbgR2ZXIDN2Y1ZTM4MDAtMDk4Zi0xMWUxLWFmZWItZWNkZDIwNjg4NjE5;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
Friday, November 4, 2011
"Savvy investors are using the dips to put some money to work ...
NOTE :
HSI UP 19,842.79 (+600.29 OR +3.12%)
DOW DOWN 11,983.24 (-61.23 OR -0.51%)
"Savvy investors are using the dips to put some money to work, but this is a very difficult market if you're a short-term trader," said Fred Dickson, chief market strategist at The Davidson Cos. in Lake Oswego, Oregon.
Besides earnings, U.S. economic news has helped keep worries about another recession at bay.
Non-farm payrolls rose a tepid 80,000 in October, below economists' expectations. But employers added 102,000 more jobs than previously estimated in August and September.
And the U.S. unemployment rate slipped to 9 percent. It had been stuck at 9.1 percent for three straight months.
Among key economic reports next week are the government's data on the Consumer Price Index and Producer Price Index.
(Reporting by Caroline Valetkevitch; Additional reporting by Ryan Vlastelica, Doris Frankel and Edward Krudy; Editing by Jan Paschal and Burton Frierson
http://beta.finance.yahoo.com/news/wall-street-week-ahead-coping-004645989.html
HSI UP 19,842.79 (+600.29 OR +3.12%)
DOW DOWN 11,983.24 (-61.23 OR -0.51%)
"Savvy investors are using the dips to put some money to work, but this is a very difficult market if you're a short-term trader," said Fred Dickson, chief market strategist at The Davidson Cos. in Lake Oswego, Oregon.
Besides earnings, U.S. economic news has helped keep worries about another recession at bay.
Non-farm payrolls rose a tepid 80,000 in October, below economists' expectations. But employers added 102,000 more jobs than previously estimated in August and September.
And the U.S. unemployment rate slipped to 9 percent. It had been stuck at 9.1 percent for three straight months.
Among key economic reports next week are the government's data on the Consumer Price Index and Producer Price Index.
(Reporting by Caroline Valetkevitch; Additional reporting by Ryan Vlastelica, Doris Frankel and Edward Krudy; Editing by Jan Paschal and Burton Frierson
http://beta.finance.yahoo.com/news/wall-street-week-ahead-coping-004645989.html
Thursday, November 3, 2011
Greece in turmoil over debt plan, but markets rise
NOTE :
DOW UP - 12,044.47( +208.43 +1.76%)
HSI DOWN - 19,242.50 (-491.21 OR -2.49%) Nov 3 - Close
Greece in turmoil over debt plan, dumps referendum; Obama concerned but markets rise
Greek Prime Minister George Papandreou speaks during a parliament session in Athens, Thursday, Nov. 3, 2011. Papandreou abandoned his explosive plan to put a European rescue deal to popular vote Thursday, keeping his government alive _ but passionate squabbling in Athens left the country's solvency in doubt and the eurozone in turmoil. Greek Prime Minister reversed course after a rebellion within his own Socialist party over the referendum, but ignored repeated calls to resign and call elections.(AP Photo/Petros Giannakouris)
Elena Becatoros and Demetris Nellas, Associated Press, On Thursday November 3, 2011, 9:34 pm
ATHENS, Greece (AP) -- Greece was in turmoil and the world economy in limbo Thursday as a high-stakes game of political brinkmanship in Athens led Prime Minister George Papandreou to abandon his explosive plan to put a European rescue deal to a referendum.
The dramatic developments overshadowed the G20 summit of world leaders in the French resort of Cannes, where President Barack Obama implored European leaders to swiftly work out a eurozone plan to deal with the continent's crisis, which threatens to push the world back into recession.
Papandreou sparked a global crisis this week when he announced plans to put the latest European deal to cut Greece's massive debt -- a hard-fought accord that took months of negotiations -- to a popular vote. The idea horrified other EU nations, Greece's creditors and financial markets as investors worried over the prospect that Greece could be forced into a disorderly default ...
http://finance.yahoo.com/news/Greece-in-turmoil-over-debt-apf-1455838074.html?x=0&sec=topStories&pos=main&asset=&ccode=
DOW UP - 12,044.47( +208.43 +1.76%)
HSI DOWN - 19,242.50 (-491.21 OR -2.49%) Nov 3 - Close
Greece in turmoil over debt plan, dumps referendum; Obama concerned but markets rise
Greek Prime Minister George Papandreou speaks during a parliament session in Athens, Thursday, Nov. 3, 2011. Papandreou abandoned his explosive plan to put a European rescue deal to popular vote Thursday, keeping his government alive _ but passionate squabbling in Athens left the country's solvency in doubt and the eurozone in turmoil. Greek Prime Minister reversed course after a rebellion within his own Socialist party over the referendum, but ignored repeated calls to resign and call elections.(AP Photo/Petros Giannakouris)
Elena Becatoros and Demetris Nellas, Associated Press, On Thursday November 3, 2011, 9:34 pm
ATHENS, Greece (AP) -- Greece was in turmoil and the world economy in limbo Thursday as a high-stakes game of political brinkmanship in Athens led Prime Minister George Papandreou to abandon his explosive plan to put a European rescue deal to a referendum.
The dramatic developments overshadowed the G20 summit of world leaders in the French resort of Cannes, where President Barack Obama implored European leaders to swiftly work out a eurozone plan to deal with the continent's crisis, which threatens to push the world back into recession.
Papandreou sparked a global crisis this week when he announced plans to put the latest European deal to cut Greece's massive debt -- a hard-fought accord that took months of negotiations -- to a popular vote. The idea horrified other EU nations, Greece's creditors and financial markets as investors worried over the prospect that Greece could be forced into a disorderly default ...
http://finance.yahoo.com/news/Greece-in-turmoil-over-debt-apf-1455838074.html?x=0&sec=topStories&pos=main&asset=&ccode=
Stocks recover after a two-day slump; Dow up 178
NOTE:
DOW UP 11,836.04 (+178.08 OR +1.53%)
HSI 19,733.71 (+363.75 )
Stocks recover as G-20 leaders scramble to save Greece rescue plan; Dow breaks two-day slump
Specialist David Haubner, left, works on the floor of the New York Stock Exchange Wednesday, Nov. 2, 2011. Stocks rose sharply in early trading, a day after renewed worries over Europe's debt crisis roiled markets around the world. Strong corporate earnings and a better employment report helped turn markets around. (AP Photo/Richard Drew)
Matthew Craft and David K. Randall, AP Business Writers, On Wednesday November 2, 2011, 4:23 pm EDT
NEW YORK (AP) -- Stock indexes closed with broad gains Wednesday as international leaders scramble to save a week-old plan to prevent a financial crisis in Europe. Strong corporate earnings and a bump up in hiring by private companies also helped send markets higher after a steep two-day drop.
The Dow Jones industrial average gained 178.08 points, or 1.5 percent, to close at 11,836.04. The Dow lost 573 points the previous two days after the brokerage MF Global collapsed and Greece's prime minister surprised markets and his own government with a call to put unpopular austerity measures to a public vote.
"It's crazy how much the markets dropped in two days, considering that the data of the U.S. economy has actually looked pretty good," said Barry Knapp, head of equity strategy at Barclay's Capital. "It just shows you how fragile the investor psychology is with Greece hanging over everything."
http://finance.yahoo.com/news/Stocks-recover-after-a-twoday-apf-2155362811.html?x=0&sec=topStories&pos=9&asset=&ccode=
DOW UP 11,836.04 (+178.08 OR +1.53%)
HSI 19,733.71 (+363.75 )
Stocks recover as G-20 leaders scramble to save Greece rescue plan; Dow breaks two-day slump
Specialist David Haubner, left, works on the floor of the New York Stock Exchange Wednesday, Nov. 2, 2011. Stocks rose sharply in early trading, a day after renewed worries over Europe's debt crisis roiled markets around the world. Strong corporate earnings and a better employment report helped turn markets around. (AP Photo/Richard Drew)
Matthew Craft and David K. Randall, AP Business Writers, On Wednesday November 2, 2011, 4:23 pm EDT
NEW YORK (AP) -- Stock indexes closed with broad gains Wednesday as international leaders scramble to save a week-old plan to prevent a financial crisis in Europe. Strong corporate earnings and a bump up in hiring by private companies also helped send markets higher after a steep two-day drop.
The Dow Jones industrial average gained 178.08 points, or 1.5 percent, to close at 11,836.04. The Dow lost 573 points the previous two days after the brokerage MF Global collapsed and Greece's prime minister surprised markets and his own government with a call to put unpopular austerity measures to a public vote.
"It's crazy how much the markets dropped in two days, considering that the data of the U.S. economy has actually looked pretty good," said Barry Knapp, head of equity strategy at Barclay's Capital. "It just shows you how fragile the investor psychology is with Greece hanging over everything."
http://finance.yahoo.com/news/Stocks-recover-after-a-twoday-apf-2155362811.html?x=0&sec=topStories&pos=9&asset=&ccode=
Wednesday, November 2, 2011
Greek referendum: What happens next?
NOTE :
DOW DOWN 11,657.96 (-297.05 OR -2.48%) Tue 4:30pm ET
HSI DOWN 19,369.96 (-494.91 OR -2.49%) Nov 1 - Close
4:30 pm : Revived concerns related to Europe's ability to efficiently and effectively restore financial conditions resulted in another round of aggressive selling.
Stocks extended the prior session's sell-off by suffering another steep slide. Selling pressure was essentially underpinned by the belief that Greece could disrupt the implementation of the eurozone bailout plan by issuing a referendum, although some afternoon headlines suggested that the referendum was unlikely to win support. Selling pressure was exacerbated by dwindling confidence in Italy's financial health, as indicated by a spike in the yields of the country's debt.
Those themes took a heavy toll on Europe's bourses. In turn, the EuroStoxx 50 fell nearly 3%. The euro was also implicated; it tumbled to a 1% loss against the greenback, as of the close of trade.
Diversified bank stocks were some of the hardest hit issues in both Europe and at home. Their weight and their weakness left the overall financial sector to fall almost 5%.
http://edition.cnn.com/2011/11/01/business/greece-referendum-explainer/index.html
DOW DOWN 11,657.96 (-297.05 OR -2.48%) Tue 4:30pm ET
HSI DOWN 19,369.96 (-494.91 OR -2.49%) Nov 1 - Close
4:30 pm : Revived concerns related to Europe's ability to efficiently and effectively restore financial conditions resulted in another round of aggressive selling.
Stocks extended the prior session's sell-off by suffering another steep slide. Selling pressure was essentially underpinned by the belief that Greece could disrupt the implementation of the eurozone bailout plan by issuing a referendum, although some afternoon headlines suggested that the referendum was unlikely to win support. Selling pressure was exacerbated by dwindling confidence in Italy's financial health, as indicated by a spike in the yields of the country's debt.
Those themes took a heavy toll on Europe's bourses. In turn, the EuroStoxx 50 fell nearly 3%. The euro was also implicated; it tumbled to a 1% loss against the greenback, as of the close of trade.
Diversified bank stocks were some of the hardest hit issues in both Europe and at home. Their weight and their weakness left the overall financial sector to fall almost 5%.
http://edition.cnn.com/2011/11/01/business/greece-referendum-explainer/index.html
Tuesday, November 1, 2011
Ugly end to historic October on Wall Street
Note :
DOW DOWN (-276.10 or -2.26%) 11,955.01 on 1-11-11
HSI -280.18 (-1.41%) 19,584.69 ON 1-11-11 12.30Noon
The Halloween scare !
An ugly finish, but Wall Street has its best month in almost a decade
Matthew Craft, AP Business Writer, On Monday October 31, 2011, 5:41 pm EDT
NEW YORK (AP) -- October is somewhat cursed for the stock market -- the Crash of 1929, Black Monday in 1987, a slow-motion meltdown in 2008. This time, the demons made a last gasp, but Wall Street still managed to break the jinx.
Stocks had their best month in almost a decade, rising from their low point of the year in an almost uninterrupted four-week rally. The juice mostly came from Europe, which appeared to finally find a strategy for taming its debt crisis.
But the finish sure was ugly. The Dow Jones industrial average fell 276 points and finished below 12,000 on the final day of the month. It was as rough an end as it was a beginning: On the first trading day of the month, Oct. 3, the Dow lost 258.
Bank stocks were hit hard Monday. MF Global, a securities firm headed by former New Jersey Gov. Jon Corzine, filed for bankruptcy protection. Rating agencies downgraded the company last week, worried that it holds too much European debt.
Still, even counting the Halloween scare, October 2011 will be remembered on Wall Street for a comeback that only the St. Louis Cardinals, baseball's nearly eliminated, newly crowned champions, could match.
For the month, the Dow rose more than 1,000 points. It gained 9.5 percent, its best showing since October 2002. The Standard & Poor's 500 index, the broadest major market average, rose 10.8 percent for the month, the best since December 1991.
On Oct. 3, both the Dow and the S&P closed at their lows of the year. The market had been through a brutal summer and was one bad day away from falling into bear market territory, down 20 percent from its most recent peak.
Investors were worried that the United States, with an economy growing at the slowest pace since the end of the Great Recession, was on the brink of falling back into recession.
And if the U.S. didn't tip into a new recession by itself, the market was worried that Europe would give it a push. Greece and other European nations face crushing debt, and European banks that loaned them money face big losses.
A recession in Europe would be bad news for the United States because Europe buys about 20 percent of American exports.
Someone opening a quarterly account statement at about that time might have tossed it in the garbage and been afraid to look again. But that day was to be the turning point.
Reports that European leaders were working on a debt plan began trickling out. Investors gained confidence after the leaders of France and Germany pledged to come up with a far-reaching resolution by the end of the month.
Added to the encouraging news out of Europe: stronger corporate earnings from the likes of Google and McDonald's and signs that the U.S. economy was not as bad as feared. Retail sales rose 1.1 percent in September, the biggest gain in seven months.
When European leaders finally unveiled the deal Thursday, stocks roared higher. The S&P 500 jumped 3.7 percent and was up for the year for the first time since Aug. 3, just before the U.S. government's debt lost its AAA credit rating.
"It's a rally off what was a very pessimistic view of the global economy," says Todd Henry, an emerging-market equity specialist at T. Rowe Price. "Does it have legs? I think that's yet to be seen."
Under the debt agreement, banks will take a 50 percent loss on their Greek government bonds. Europe will also add money to a financial rescue fund to protect other countries. And banks will increase their capital reserves to protect themselves.
With the October books closed, the Dow was at 11,955.01, up about 83 percent from March 2009, its lowest point after the financial meltdown. It would have to rise more than 2,200 points from here to set an all-time high.
The S&P 500 finished the month at 1,253.50, down 32 points on Monday, or 2.5 percent. The Nasdaq composite index fell 53 points for the day, or 1.9 percent, and ended October at 2,684.
Besides the Depression-heralding collapse in 1929, the crash in 1987 and the meltdown 2008, the stock market suffered through a mini-crash on Friday the 13th in October 1989 and a 554-point drop in the Dow on Oct. 27, 1997.
But the month "turned the tide" in 11 bear markets after World War II, according to the Stock Trader's Almanac. And it turned out to be the best single month for the market from 1993 to 2007, according to the almanac.
Strong as it was, this October wasn't close to ranking as one of the best. After the 1929 crash, the market routinely ran up much bigger percentage gains. In July and August 1932, for example, the market gained more than 36 percent each month.
Worries about a second recession have receded somewhat. The government announced last week that the economy in July, August and September grew at an annual rate of 2.5 percent, more than twice the speed of earlier this year.
The European debt crisis is still far from fixed. One troubling sign is that borrowing costs for Italy and Spain have increased, a signal that traders remain worried about those countries' ability to pay their debts.
And there are problems closer to home. A congressional "supercommittee" has to find $1.2 trillion in deficit cuts in less than a month, and Republicans and Democrats are fighting about whether to focus on higher taxes or cuts in federal spending.
If they can't agree, investors are worried that Moody's, the prominent credit rating agency, will follow S&P and strip the United States of its top rating, or that S&P will lower its rating even further.
http://finance.yahoo.com/news/Ugly-end-to-historic-October-apf-880720871.html?x=0&sec=topStories&pos=main&asset=&ccode=
DOW DOWN (-276.10 or -2.26%) 11,955.01 on 1-11-11
HSI -280.18 (-1.41%) 19,584.69 ON 1-11-11 12.30Noon
The Halloween scare !
An ugly finish, but Wall Street has its best month in almost a decade
Matthew Craft, AP Business Writer, On Monday October 31, 2011, 5:41 pm EDT
NEW YORK (AP) -- October is somewhat cursed for the stock market -- the Crash of 1929, Black Monday in 1987, a slow-motion meltdown in 2008. This time, the demons made a last gasp, but Wall Street still managed to break the jinx.
Stocks had their best month in almost a decade, rising from their low point of the year in an almost uninterrupted four-week rally. The juice mostly came from Europe, which appeared to finally find a strategy for taming its debt crisis.
But the finish sure was ugly. The Dow Jones industrial average fell 276 points and finished below 12,000 on the final day of the month. It was as rough an end as it was a beginning: On the first trading day of the month, Oct. 3, the Dow lost 258.
Bank stocks were hit hard Monday. MF Global, a securities firm headed by former New Jersey Gov. Jon Corzine, filed for bankruptcy protection. Rating agencies downgraded the company last week, worried that it holds too much European debt.
Still, even counting the Halloween scare, October 2011 will be remembered on Wall Street for a comeback that only the St. Louis Cardinals, baseball's nearly eliminated, newly crowned champions, could match.
For the month, the Dow rose more than 1,000 points. It gained 9.5 percent, its best showing since October 2002. The Standard & Poor's 500 index, the broadest major market average, rose 10.8 percent for the month, the best since December 1991.
On Oct. 3, both the Dow and the S&P closed at their lows of the year. The market had been through a brutal summer and was one bad day away from falling into bear market territory, down 20 percent from its most recent peak.
Investors were worried that the United States, with an economy growing at the slowest pace since the end of the Great Recession, was on the brink of falling back into recession.
And if the U.S. didn't tip into a new recession by itself, the market was worried that Europe would give it a push. Greece and other European nations face crushing debt, and European banks that loaned them money face big losses.
A recession in Europe would be bad news for the United States because Europe buys about 20 percent of American exports.
Someone opening a quarterly account statement at about that time might have tossed it in the garbage and been afraid to look again. But that day was to be the turning point.
Reports that European leaders were working on a debt plan began trickling out. Investors gained confidence after the leaders of France and Germany pledged to come up with a far-reaching resolution by the end of the month.
Added to the encouraging news out of Europe: stronger corporate earnings from the likes of Google and McDonald's and signs that the U.S. economy was not as bad as feared. Retail sales rose 1.1 percent in September, the biggest gain in seven months.
When European leaders finally unveiled the deal Thursday, stocks roared higher. The S&P 500 jumped 3.7 percent and was up for the year for the first time since Aug. 3, just before the U.S. government's debt lost its AAA credit rating.
"It's a rally off what was a very pessimistic view of the global economy," says Todd Henry, an emerging-market equity specialist at T. Rowe Price. "Does it have legs? I think that's yet to be seen."
Under the debt agreement, banks will take a 50 percent loss on their Greek government bonds. Europe will also add money to a financial rescue fund to protect other countries. And banks will increase their capital reserves to protect themselves.
With the October books closed, the Dow was at 11,955.01, up about 83 percent from March 2009, its lowest point after the financial meltdown. It would have to rise more than 2,200 points from here to set an all-time high.
The S&P 500 finished the month at 1,253.50, down 32 points on Monday, or 2.5 percent. The Nasdaq composite index fell 53 points for the day, or 1.9 percent, and ended October at 2,684.
Besides the Depression-heralding collapse in 1929, the crash in 1987 and the meltdown 2008, the stock market suffered through a mini-crash on Friday the 13th in October 1989 and a 554-point drop in the Dow on Oct. 27, 1997.
But the month "turned the tide" in 11 bear markets after World War II, according to the Stock Trader's Almanac. And it turned out to be the best single month for the market from 1993 to 2007, according to the almanac.
Strong as it was, this October wasn't close to ranking as one of the best. After the 1929 crash, the market routinely ran up much bigger percentage gains. In July and August 1932, for example, the market gained more than 36 percent each month.
Worries about a second recession have receded somewhat. The government announced last week that the economy in July, August and September grew at an annual rate of 2.5 percent, more than twice the speed of earlier this year.
The European debt crisis is still far from fixed. One troubling sign is that borrowing costs for Italy and Spain have increased, a signal that traders remain worried about those countries' ability to pay their debts.
And there are problems closer to home. A congressional "supercommittee" has to find $1.2 trillion in deficit cuts in less than a month, and Republicans and Democrats are fighting about whether to focus on higher taxes or cuts in federal spending.
If they can't agree, investors are worried that Moody's, the prominent credit rating agency, will follow S&P and strip the United States of its top rating, or that S&P will lower its rating even further.
http://finance.yahoo.com/news/Ugly-end-to-historic-October-apf-880720871.html?x=0&sec=topStories&pos=main&asset=&ccode=
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