 |
That's my take too-- the over all trend is positive. My guess is that a week or so back stock prices hit rising longer term support levels.
I see a lot of pent-up demand ready to push a multi year bull market.
Posted on 02/03/2005 1:57:33 PM PST by pickemuphere
NEW YORK (Reuters) - U.S. stocks broke a three-day rally and slid lower on Thursday, weighed down by a report that showed U.S. productivity growth slowed in the fourth quarter and a sharp fall in online retailer Amazon.com Inc. that dragged on tech stocks.
The weaker-than-expected rise in productivity caused concern about higher inflation and a possible speed-up in interest-rate hikes by the Federal Reserve.
Amazon.com fell 16.4 percent, a day after the online retailer's results disappointed Wall Street.
(Excerpt) Read more at today.reuters.com ...
Last I looked the DOW was only down a little over three points.
Wish I knew....got 'em in my hopper too....glad it's not much. Shoulda bought more Halliburton instead!
Higher marketing costs, more capital expenditures, and more competition. Plus the overall market's been in a bad mood since the FOMC minutes were released in early January. Consider that the internet stocks have led the market recovery since the Bush bottom in 2002/2003. They are now going into a corrective phase.
What a stupid statement considering that higher rates won't help productivity in any way.
Easy. They didn't make the net income number that Wall Street expected. Actually, they did, but when you adjust for the recognition of a deferred tax asset (basically they lost millions in the years leading up to 2003 and could only carry those losses forward for tax purposes for so many years - this year, they had positive net income that they could net against those loss carry-forwards), they missed their number. Also, much of their sales growth was due to currency gains (sales in foreign countries where the revenue comes in a foreign currency, all of which have been strong against the dollar lately). Sprinkle in a little added competition from the likes of WalMart.com and a big sell-off of ebay recently (even though they beat their number) and you've got the formula for a short-term Amazon sell-off. They'll be fine.
There's just so much you can get out of a worker before you've got to hire new meat.
Greenspan is hell bent on ruining the economy like he did in 1999.
Interest rates are just fine where they are now.
|
That's my take too-- the over all trend is positive. My guess is that a week or so back stock prices hit rising longer term support levels.
I see a lot of pent-up demand ready to push a multi year bull market.
Logical. We'll see.
There's just so much you can get out of a worker before you've got to hire new meat.
That's true, but in the long run and in the big picture, productivity improvements come from technology and other systemic improvements.
Greenspan is hell bent on ruining the economy like he did in 1999.
What Greenspan did in 1999/2000 is one of the worst acts ever by someone in his position. He must have developed a severe hatred for the stock market and the growing economy that defied him in the latter half of the 90's. He should have been fired, but his boss had no clue as to what happened.
Interest rates are just fine where they are now.
You're right but Greenspan is now tasked to strengthen the dollar. He'll have to keep raising rates, because the crooks in Washington aren't going to stop spending anytime soon.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.