Oct. 23, 2012 – The scare continues on “Nightmare on Wall Street – Redux”
MARKET SUMMARY, Tue. Oct. 23, 2012 “Hope is not an investment strategy”
Dow 13,123.82 -222.07 -1.66%
Nasdaq 2,999.24 -17.72 -0.59%
S&P 500 1,414.95 -18.87 -2.79%
10 Yr Bond(%) 176% -0.04 -1.32%
Oil 88.30 -0.43 -0.48%
Gold 1,713.60 -16.70 -0.97%
EUR/USD 1,2977 -0.01 -0.68%
Earnings, Europe Pummel the Markets
BreakoutThe market got smacked Tuesday as the third quarter earnings season continues to come in even worse than expected. From high tech darlings the selling has moved into Blue Chips often sold as safe alternatives.
- ARTICLE Gold Slumps to 6-Week Low, But Should Hold at $1,700: Purves
- ARTICLE Oil price below $88 on global growth concerns
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October 19, 2012
In the “Paper No. VIII 05/21/04”,page I’ve listed several industries including 5.) Banking; 6.) Investment/Finance and 7. technology (Silicon Valley). No. 1 is Publishing. The order being bad news comes to banking, the investments the technology. And the whole cycle begins with 1.) Publishing.
Last week bad news from banking and technology came guess what? Here’s the news:
Thriving ‘Onion’ Puts Another Print Edition Out Of Business
OCTOBER 18, 2012 | ISSUE 48•42 | MORE NEWS IN BRIEF
http://www.theonion.com/articles/thriving-onion-puts-another-print-edition-out-of-b,29977/
I’m going to provide the calls on each of the industry listed like the retail industry separate and distinct from the clothing/apparel. On another topic, there are photos that would say a lot more that would be posted as soon as possible.
For today, Friday, October 19, 2012, the market closed as follows:
Dow 13,343.51 -205.43 – 1.52%
Nasdaq 3,005.62 -67.24 -2.19%
S&P 500 1,433.19 -24.15 -1.66%
Oil 90.14 -1.96 -2.13%
10 Yr Bond(%) 1.77 -0.06 -3.18%
Eur/Dollar 1.3023 -0.00 -0.36%
Gold 1,721.6 -23.10 -1.32%
This figures are eerily similar to Nov. 2, 2007. For 10/19/2012 the catalyst for the market drop is:
Earnings from McDonald’s, Microsoft sink stocks – Oct. 19, 2012
Weak earnings reports from McDonald’s, Microsoft and others drive stocks lower on Wall Street
By Matthew Craft, AP Business Writer | Associated Press – 7 hours ago Friday, October 19, 2012
But the main concern is the fiscal cliff that could bury the economy deeper into recession.
‘Fiscal Cliff’ May Be Bigger Threat Than You Think – Oct. 19, 2012
By Jeff Cox | CNBC – 4 hours ago Friday, October 19, 2012
As the deadline for fiscal peril in the U.S. nears, Wall Street is worried that the impact could be much worse than anyone thought-while investors remain nearly oblivious to the danger.
Looming tax increases and spending cuts — which Federal Reserve Chairman Ben Bernanke has labeled the “fiscal cliff” — would send the economy into a deeper recession than many have predicted, according to economists at Bank of America Merrill Lynch.
========== news abbreviated ==========
Big Banks Blast Washington: Fix the Fiscal Cliff Now!
By Matt Nesto | Breakout – Thu, Oct 18, 2012 10:58 AM EDT
From routine check-ups to subsidized gym memberships to diet counseling and more, the practice of preventative care has reshaped the way we think about and spend money on staying healthy. Aside from the obvious physical benefits, the overwhelming fiscal benefits have proven that it’s a whole lot cheaper to keep people healthy than it is to make them well after they get sick.
And so it is with the country’s own financial health. This morning the Financial Services Forum — a group of the nation’s top bankers — sent a letter to the White House and Congress warning that our country is facing grave consequences if nothing is done to address the fiscal cliff that’s set to inflict over a trillion dollars of automatic budget cuts and tax increases on January 1st. 15 bank CEO signatories along with the group’s president & CEO are not only calling on Washington to “negotiate a bi-partisan agreement as quickly as possible” to address the cliff, but are also urging lawmakers to ”restore the nation’s long-term fiscal soundness.”
========== news abbreviated ==========
Why ”Nightmare on Wall St. – Redux”? Because this month could be like 2011, a repeat of 2007 as posted on WAIS: US: Presidential Candidates on Nuclear Weapons (Bienvenido Macario, Philippines) posted on Fri, Nov 2, 2007 at 4:52 AM and also on 2011.
Excerpt:
“Now the scare continues in “Halloween ’07 – Nightmare on Wall Street”: These are the figures for November 1st (2007)”
Dow 13,567.87 -362.14 -2.60%
Nasdaq 2,794.83 -64.29 -2.25%
S&P 500 1,508.44 -40.94 -2.64%
10 Yr Bond(%) 4.3610% -0.1140
Nov. 1, 2011: Déjà vu?
Now the scare continues in “Halloween ’11 – Nightmare on Wall Street”: These are the figures for 1st November 2011
MARKET SUMMARY, Mon. Oct. 31, 2011
Dow 11,955.01 -276.10 -2.26%
Nasdaq 2,684.41 -52.74 -1.93%
S&P 500 1,253.30 -31.79 -2.47%
10 Yr Bond(%) 2.1750% -0.1310
Oil 92.68 -0.64 -0.69%
Gold 1,724.00 -22.20 -1.27%
MARKET SUMMARY, Tue. Nov. 01, 2011
Dow 11,657.96 -297.05 -2.48%
Nasdaq 2,606.96 -77.45 -2.89%
S&P 500 1,218.28 -35.02 -2.79%
10 Yr Bond(%) 2.0010% -0.1740
Oil 91.64 -1.55 -1.66%
Gold 1,720.10 -4.10 -0.24%
WAIS: US: Presidential Candidates on Nuclear Weapons (Bienvenido Macario, Philippines) posted on Fri, Nov 2, 2007 at 4:52 AM and also on 2011.
http://waisworld.org/go.jsp?id=02a0&objectType=post&objectTypeId=12297&topicId=1
Bienvenido Macario responds to David Krieger’s post of 30 October (2007):
I am thankful that David Krieger Founder and President of the Nuclear Age Peace Foundation brought this topic up. We are dealing with three questions here:
1.) What is on the mind of Presidential Candidates on Nuclear Weapons during the campaign period?
2.) What’s on the mind of a newly elected or re-elected President?
3.) What would the US Congress allow the President and Chief Executive
(no. 2) to do?
It does not always follow that a pro-_______ (fill in the cause for example: nuclear disarmament) president would be able to carry out his/her campaign promise. Sometimes those who never said anything about troop withdrawal or made pro-environment statements end up acting on it.
A case in point is Nixon, who got the US Troops out of Vietnam and created the EPA (Environmental Protection Agency). It was Pres. John F. Kennedy who got the US in Vietnam and Pres. Lyndon B. Johnson who later escalated and micromanaged the war. JFK and LBJ were both Democrats. Also it was Eisenhower a GOP who stopped the Korean War that started under Truman, a Democrat.
Now the scare continues in “Halloween ’07 – Nightmare on Wall Street”: These are the figures for November 1st (2007):
Dow 13,567.87 -362.14 -2.60%
Nasdaq 2,794.83 -64.29 -2.25%
S&P 500 1,508.44 -40.94 -2.64%
10 Yr Bond(%) 4.3610% -0.1140
Fed Pumps $41B Into US Financial System–AP
The Federal Reserve pumped $41 billion into the US financial system Thursday, the largest cash infusion since September 2001, to help companies get through a credit crunch.
Chrysler to Cut Up to 12,000 Jobs–AP
Oil is pegged at $96.00 and analysts believe the cuts in interest rate
have stopped.
JE comments: A question for WAIS speculation: when (day and date) will oil hit the century mark ($100) a barrel? Besides bragging rights, the winner will receive the first-ever WAIS coffee mug–as soon as we design it and have it manufactured (in China?). Which gets me thinking: what should the WAIS coffee mug look like?
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For information about the World Association of International Studies (WAIS), and its online publication, the World Affairs Report, read its homepage by simply double-clicking on: http://wais.stanford.edu/
John Eipper, Editor-in-Chief, Adrian College, MI 49221 USA