Same-Sex Marriage Bill REJECTED in New York State Senate
Video: Times Square Obama Afghanistan Protest Arrests
Catholic League Pissed at PETA
New Photo Brings Flying Overweight Debate Back
State Sen. Savino Gets Noticed For Impassioned Gay Marriage Speech
After one of the worst days ever on Wall Street, stock market rallied by the end of the day, with the Dow Jones industrial average gaining 141.51 points today. That increase was helped by the belief the Federal Reserve will rescue AIG and news that Barclays would buy the Lehman's broker business.
Stocks had a roller-coaster day amid disappointment that the Fed would not change the key lending rate. You can read the Fed's statement here--it includes the observations: "Strains in financial markets have increased significantly and labor markets have weakened further. Economic growth appears to have slowed recently, partly reflecting a softening of household spending. Tight credit conditions, the ongoing housing contraction, and some slowing in export growth are likely to weigh on economic growth over the next few quarters."
Overall, many think the Fed made the right decision, because of, per the Timeswa, "the Fed’s limited ability to solve a problem that entails the entire housing and mortgage markets." The chief investment strategist of the Hartford, Quincy Krosby, told Bloomberg News, "This is a market that's not looking at fundamentals. IIt's going back and forth based on rumor and headlines and it has temporarily divorced itself from fundamental analysis.''
add to stumble upon
add to reddit
tweet this
post to facebook
"because of, per the Timeswa"
?
Does this mean these douchebags won't be getting their 300K bonuses this year?.
"This is a market that's not looking at fundamentals. It's going back and forth based on rumor and headlines and it has temporarily divorced itself from fundamental analysis."
Temporarily?. Lol. This market hasn't looked at fundamentals in YEARS.
Why is it that all the photos of stockbrokers show them holding or hitting their heads? Can't they just take an aspirin before going to work?
What's "going back and forth" are shares of that pennystock A.I.G.. Over one billion traded today. If they get a bailout package, the buyers are going to get very rich.
are these guys boy scouts? why the flag patch?
we be loyal.
Oops, the government might take out warrants for A.I.G. equity as part of a loan deal. The dollar shares might end up being worth a dollar.
But if I buy enough shares can I make a profit on the volume?
Ask Uncle Sam. he just bought A.I.G.
The guy who is hitting his head in the picture made my day.
"This is a market that's not looking at fundamentals. It's going back and forth based on rumor and headlines and it has temporarily divorced itself from fundamental analysis."
No kidding Sherlock. It's all about speculation now and he has been this way for some time.
You mean he "super glued" his hand to his forehead? Does he go into Starbucks like that?
You know that on a daily basis one of these walking Prilosec ads can be found swooning on the NYSE trading floor. And on tense days, there's always a photog there waiting for a "decisive moment".
he's putting his fake eyeball back in it's socket
Face Palm FTW!
The dow should be around 8K, if that.
The dow should have gone down to that after the tech bubble 8 years ago.
It didn't and we're still dreaming. Keep holding that pendulum to one side, eventually the clockwork is going to rip it from your hand and smash you in the face with it and no amount of fed bailout is going make a difference.
^The Dow bottomed at like 7,200 after the tech bubble and stayed between 8,000 and 9,000 for a long time. Or are you suggesting it should have stayed there?