Skip to comments.Slippin' and slidin (Stock Market)
Posted on 08/18/2005 9:33:34 AM PDT by Black Tooth
Limited forecast sparks worries that high oil prices are hurting consumers, crude treads water.
August 18, 2005: 11:42 AM EDT
NEW YORK (CNN/Money) - Stocks fell Thursday morning as Google weighed on techs, earnings from the Limited hurt the retail sector, and investors looked to oil prices for direction.
The Dow Jones industrial average (down 6.77 to 10,543.94, Charts) lost 0.1 percent, the broader Standard & Poor's 500 (down 2.00 to 1,218.24, Charts) fell 0.2 percent and the tech-heavy Nasdaq composite (down 7.95 to 2,137.20, Charts) dropped 0.5 percent late in the morning.
Analysts said oil prices would be in focus as they have lately hovered near record highs, sparked fears of an economic slowdown and pressured stocks in the process.
A 4 percent drop in oil prices ended a stock market rout and lifted major gauges Wednesday, but crude prices hovered near $63 a barrel Thursday, giving little sign that they would fall further.
Analysts said the market was taking a negative view because oil prices did not continue to significantly slide.
Google dips, retail falls
In corporate news, Google (down $6.22 to $278.88, Research) shares fell more than 2 percent in late morning Nasdaq trading after the top Internet search company said it filed with regulators to sell up to 14.16 million shares of class
In retail, Limited (down $0.89 to $22.39, Research) said quarterly profits fell and gave lower-than-forecasted earnings guidance for the rest of the year. Shares were down about 5 percent late in the morning.
The retail sector has taken a beating on poor results from Wal-Mart (up $0.25 to $47.21, Research) and Abercrombie & Fitch (down $0.35 to $58.50, Research) that sparked worries that high oil and record-breaking gasoline prices were taking a chunk out of consumer spending.
(Excerpt) Read more at money.cnn.com ...
Some stocks are up, some are down. Oil has been both up and down today. The dollar is up relative to the Euro. The controllers will probably let things slide along for a couple of weeks before they drive the dagger in deeper and give it a twist.
Free parking: Ticker EWS - Singapore is supposed to have very good economic growth for 2005 & 2006. The currency exchange rate is also supposed to remain stable over those two years. The dividend yield on this ETF is over 3% and the price to earning is under 12...a safety/growth play if there ever was one. Check it out and maybe sock 10-20% of your speculative cash into it.
This article rather clearly shows the program at what is laughingly referred to as "the financial desks" over yonder in MSM Land.
They sit around and when they spot any momentary market dip that last long enough for them to band out the agitprop that they call "news reports" out comes every bit of Anti-american, anti-Bush and anti-GOP propaganda imaginable.
You really should know better.
What a broken record you are
If I were you I would line up a grief counselor right now for you are not going to actually have the destruction of our economy you hope for. You may find you need some help getting over your disappointment as the US economy yet again proves its power and dynamism.
DOW up 7.88
Huh??? Are they?
Ya, a regular crash.
The interest rates begin to worry me. With the long term so low, and the short term so high, the yield curve is practically flat. If the yield curve goes inverted - I'm out.
Happy days are here again!!! I think I am going to retire.
Our masters are the Freemason Jewish aliens who run he Fed. Geeesh, get with he program.
Sure cannot be the rational forces of the market at work, nope, has to be some "controllers" somewhere that "run" an almost 12 trillion dollar economy. They have a "secret MBA" program at Yale where they teach you how such a thing is actually possible, but you have to get through the skull and bones first and then be recommended by one of them 'Gyptian fellers I mentioned before. Yessireebob!
No thanks, I don't know how to read or even know what the DOW is. I wish someone with such superior intellect could fill me in, and could you please use small words.
I am looking for a Jewish Halliburton employee who is married to a Catholic and went to high school with Karl Rove to suport for the Republican nomination in 2008...
Thanks, but what does beef have to do with grammar or the DOW? Here I told you to keep it simple and now I am so confused.
It was probably the slang I used that confused you.
Ah, now I know why the new bills are so colorful.