JTF.ORG Forum
General Category => General Discussion => Topic started by: SavetheWest on February 11, 2009, 04:49:11 PM
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http://news.yahoo.com/s/ap/20090211/ap_on_bi_st_ma_re/wall_street
They have no shame...a bunny ran around today so everything is ok now that Obama is here...if investors took this as a plan that worked the market would have skyrocketed.
The media tried to hurt consumer confidence under Bush and now are trying to make it all seem better now that their beast is in the White House.
>:( >:( >:( >:(
Stocks end higher on agreement on stimulus bill
NEW YORK – Investors shuttled between optimism and pessimism Wednesday, finally betting that the government might help the economy out of recession after all.
News in late afternoon that key lawmakers agreed on a $789 billion economic stimulus plan sent stocks moderately higher. The advance, which came in a back-and-forth session, came a day after stocks plunged on worries about the government's financial industry bailout plan.
The stimulus measure includes provisions for unemployment benefits, food stamps, health coverage and more. It also includes billions for states facing yawning budget gaps.
Investors have been eager for any signals that the economy could begin to recover. Supporters hope the bill's mix of spending and tax cuts will increase consumer spending, which accounts for more than two-thirds of U.S. economic activity. Spending has stalled since the mid-September bankruptcy of Lehman Brothers Holdings Inc. froze credit markets and deepened the recession.
Washington was again the driver behind the market's moves on Wednesday. A day earlier, investors showed frustration with what they saw as a lack of details from Treasury Secretary Timothy Geithner on how the government plans to direct trillions of dollars in public and private aid to support the ailing financial system. Major stock market indexes tumbled more than 4 percent.
Chief executives of the nation's top banks appeared before a House committee Wednesday to answer questions about how they have put to use more than $160 billion in taxpayer money to date.
The testimony and the stimulus agreement commanded the market's attention.
Anthony Conroy, managing director and head trader for BNY ConvergEx Group, said investors are simply trying to keep ahead of the rush of news about the banking system and the economy.
"I think everybody is trying to get through all this news. Without healthy financials it's very hard to have a healthy economy," he said. "Everybody has to digest all the tidbits of information that are coming out."
According to preliminary calculations, the Dow Jones industrial average rose 50.65, or 0.64 percent, to 7,939.53.
Broader stock indicators also rose. The Standard & Poor's 500 index rose 6.58, or 0.80 percent, to 833.74, and the Nasdaq composite index rose 5.77, or 0.38 percent, to 1,530.50.
The Russell 2000 index of smaller companies rose 2.18, or 0.49 percent, to 447.95.
Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to a light 1.36 billion shares.
The 50-point rise in the Dow following a 381-point drop the day earlier is "not a strong statement here," said Kim Caughey, equity research analyst at Fort Pitt Capital Group. "More information is what we need. What I mean by that is what exactly has been agreed to with the stimulus plan."
And Wall Street remains nervous about how, exactly, Geithner's financial rescue plan will work out: how it will assess the banks, how it will price their bad assets, and how it will recreate a market for those assets.
Investors "reacted to bad news yesterday. There wasn't more bad news today," Caughey said. "People didn't have a good sleep and say 'Whew, was I wrong yesterday.'"
Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.77 percent from 2.82 percent late Tuesday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.31 percent from 0.30 percent late Tuesday.
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The media right now reminds me of Sadaam Hussein's media who kept saying that the Americans were all dying.
Our media can only keep this up for so long... before people start waking up.
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Looks like I was right. My stock ended up 1.94% today... This is great news! I dont know why anyone would be sad about this. I said yesterday that the stock market is not going to react much to this stimulus bill.
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14% unemployment- the REAL unemployment figure (think of all the real estate agents who havent sold homes in months, dont that qualify as unemployment) is the only number we all need to be concerned about, quite frankly.
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Looks like I was right. My stock ended up 1.94% today... This is great news! I dont know why anyone would be sad about this. I said yesterday that the stock market is not going to react much to this stimulus bill.
Every person who beleives they can predict short term movements in the stock market all have one thing in common, they are right 50% of the time.
Trust me.....the Stimulus bill WILL have a HUGE effect on the economy in the mid-term and long-term.... it WILL increase unemployment in about 2 years. It has HUGE disincentives for investments and employment in the private sector. THAT is why investors worlwide DID react to Obama's win. They all KNEW that this would happen if the Dems had a near-supermajority.
Muman... I too have my own business... and I too WANT to provide for my family BUT!!!!! I also DONT want the obamanation to continue... and the ONLY way to make this a certainty... is for the economy to suffer in the near to mid-term. You can call me Un-American if you want... but it is in ALL of our best interests that Obama is thrown out by the people.
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:laugh:
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Every time the shvartza President opens his mouth the stock market takes a 200 point dive. Between his press conference the other night and his financial man bumbling around yesterday with no answerer's to important questions it was almost 400 points. If we are rebounding it seems like we are doing it in the wrong direction.
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The media right now reminds me of Sadaam Hussein's media who kept saying that the Americans were all dying.
Our media can only keep this up for so long... before people start waking up.
I'm happy every time I hear about a newspaper failing.
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Looks like I was right. My stock ended up 1.94% today... This is great news! I dont know why anyone would be sad about this. I said yesterday that the stock market is not going to react much to this stimulus bill.
My company is doing well too but it won't last long when the string of high taxes comes later this year and in 2010. Someone has to pay for all the school snack programs and head start programs and it sure as heck won't be Obama, it will be Joe taxpayer.
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I don't want to see the economy bottom out or stocks to plummet. Sadly, the economy is the make or break for Obama. In order for him to totally fail, the country has to be in total economic calamity. Should things rebound, we are stuck with him for eight years. America has reached a sort of vanishing point with this turd as President.
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I don't want to see the economy bottom out or stocks to plummet. Sadly, the economy is the make or break for Obama. In order for him to totally fail, the country has to be in total economic calamity. Should things rebound, we are stuck with him for eight years. America has reached a sort of vanishing point with this turd as President.
I hate to say it because it has cost me money already but after the debacle in congress last week I see little chance of any recovery. No matter how you slice it higher taxes or printing worthless money which will sap the value of everyones savings and buying power working Americans will be paying for this for years and years to come. The sad thing is there is not much your going to be able to do to avoid it. As of today I see the shvartza President being a one term president however the mess he and his pork crazed congress will make during that time will not be reversed in decades to come.
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Any kind of meaningful economic rebound will mean $6/gallon gas in a few months.
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All of these corrupt cooperate pirates, along with the evil political traitors, all deserve a special place in hell for what they have done. In a sane world the common people would have raided their offices and taken the power from these scumbags.