The Dow Jones slipped under 10,000 at the end of the day Wednesday largely because analyst Dick Bove changed his call on Wells Fargo from “neutral” to “sell.” Bove said the quality of the company’s third quarter earnings was, “pretty poor.” “If you take a close look at the earnings, what you can see is that the improvement is due to a hedging profit…
October 22nd, 2009 | Dan Denning | 4 comments | ContinuedAll Posts Tagged With: "dow jones"
Big Difference Between Stark News in Job Market and Behaviour of Stock Market
There have been jobless recoveries from recession before. But you still have to wonder how there can be such a big difference between the stark news in the job market and the behaviour of the stock market. True, economists will tell you that jobs are the last thing to recover from a recession. Businesses don’t hire until they are sure everything is in the clear.
October 5th, 2009 | Dan Denning | 4 comments | Continued
Sell China and Buy Goldman Sachs
If that’s the case, then it would be time to sell commodities and buy Goldman, or at least time to sell commodities. A collapsing Chinese credit bubble would remove a lot of the demand and price support for Australian commodities (especially coking coal and iron ore).
July 14th, 2009 | Dan Denning | 24 comments | Continued
Immoral Governments Pursuing Inflation With Gusto
The understatement of the day comes from Dow Jones newswires. “A pandemic would deal a major blow to a world economy already suffering its worst crisis in decades, and experts say it could cost trillions of dollars.”
April 28th, 2009 | Dan Denning | 7 comments | Continued
Stocks Fall Another 250 Points. Only 2,100 More to Go.
The Dow ended yesterday’s trading at 7,114. Before this correction is over, it will trade below 5,000. That has been our prediction for the last 10 years. Maybe we were a little early. But we’re sticking with it. Besides, stocks have been a bad bet for the last 12 years. They’re now back to ‘97 levels…
February 25th, 2009 | Bill Bonner | 1 comment | Continued
Crude Oil and the Dow Jones Index…a Close-Up
Oil’s trading at around $130 today, reader. That’s a 12% decrease since the high posted on July 11th. It seems more and more that oil is the architect behind a turnaround in share prices and economic forecasts. The bulls may be coming out of hibernation. But our focus today is oil itself. That’s where the market is focusing. Oil’s what equity traders are looking at.
July 23rd, 2008 | Gabriel Andre | 0 comments | Continued
Dow Jones Has Worst June Since Great Depression, American Model in Decline
The Dow Jones Industrials has had its worst June since the Great Depression. The index is down 9.4% this month, although that is not as bad as June 1930, when it fell 18%. The Dow is only 30 major companies. But in two important ways it shows that the U.S. model for prosperity over the last 50 years is in big trouble. While this certainly affects Australia, it is not entirely bad news. The first blow is the decline of GM.
June 27th, 2008 | Dan Denning | 4 comments | Continued