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#1
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Dow Dipping
Stocks slip, day 2
Major gauges continue to retreat as investors worry about tightening credit, subprime fallout, but decline is moderate versus previous session's battering. August 10 2007: 9:59 AM EDT NEW YORK (CNNMoney.com) -- Stocks slumped Friday morning, extending the previous day's decline, as mounting worries about the tightening of credit and the subprime mortgage fallout gave investors a reason to retreat. Bond prices rose in tandem, sending the corresponding yields lower, as investors made a classic 'flight-to-quality' move into the comparatively safer haven of bonds. The Dow Jones industrial average (down 147.71 to 13,122.97, Charts) lost nearly 100 points in the early going, after slumping 387 points in the previous session, its second biggest one-day point and percentage decline of the year. The broader S&P 500 (down 19.86 to 1,433.23, Charts) index gave up 0.7 percent, adding to Thursday's nearly 3 percent slump. The tech-fueled Nasdaq Composite (down 35.61 to 2,520.88, Charts) index tripped 1 percent, adding to the previous session's 2.2 percent slide. Stocks slumped Thursday as worries about a tightening of the global credit market resurfaced, sparking a broad decline in stocks in the U.S. and abroad. Those worries continued Friday, after the European Central Bank (ECB) pumped extra cash into the system for a second day in a row, as a means of calming nervous trader. The ECB added $83 billion in liquidity Friday. The Federal Reserve followed suit, adding $19 billion in temporary reserves. The move was the biggest single temporary open market operation in four years, the New York Federal Reserve said, according to Reuters. Stocks have been whipsawed over the last few months on fears about tightening credit after a period of widespread liquidity. At the same time, investors have been trying to sort out the implications of the fallout from the subprime mortgage market - loans made to consumers with less than ideal credit - amid the slumping housing market. Stock declines were broad-based, with 25 out of 30 Dow stocks falling, led by American Express (down $0.95 to $59.70, Charts, Fortune 500), Alcoa (down $1.09 to $34.35, Charts, Fortune 500) and Boeing (down $1.81 to $96.49, Charts, Fortune 500). In global trade, European stocks fell in the afternoon, and Asian markets ended lower. Treasury prices rallied, sending the benchmark 10-year note yield down to 4.75 percent from 4.77 percent late Thursday. Bond prices and yields move in opposite directions. In currency trading, the dollar was flat versus the euro and slumped versus the yen. Oil prices fell, with U.S. light crude for September delivery slipping 93 cents to $70.66 a barrel on the New York Mercantile Exchange.
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#2
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Lending to people that can't afford it..
gee where did I read about this before?... |
#3
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Here's another way to look at the DJI . . . it's actually up this week compared to last week.
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#4
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Quote:
Satisfaction guaranteed! Edu you aren't tought in school... "Money as Debt" http://video.google.com/videoplay?docid=-9050474362583451279&hl=en
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#5
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Take some funds from your money market account and buy some bargain stocks.
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1985 380SE Blue/Blue - 230,000 miles 2012 Subaru Forester 5-speed 2005 Toyota Sienna 2004 Chrysler Sebring convertible 1999 Toyota Tacoma |
#6
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Very Scary Things by Paul Krugman
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#7
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I invest in the long-term. As they say (sort of) in the prospectus, past performance is no predictor of the future.
IOW, Even though the stock market has done well in the past few years, that doesn't guarantee that the next few years will be profitable. I'm still in it for the long-haul. My investment distribution stays as is, at least until 2008. What about you? |
#8
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Cheaper by the dozen...?
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Bookmarks |
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