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Stock futures indicate Dow to fall below 7,000
Market Watch ^ | 03/02/09 | Steve Goldstein

Posted on 03/02/2009 3:30:07 AM PST by TigerLikesRooster

Stock futures indicate Dow to fall below 7,000

By Steve Goldstein, MarketWatch

Last update: 6:11 a.m. EST March 2, 2009

LONDON (MarketWatch) -- U.S. stock futures dropped Monday as financial giants like American International Group and HSBC Holdings took moves to raise more capital and as Warren Buffett said the economy would be in "shambles" this year.

Futures on the Dow Jones Industrial Average (DIA) indicated a retreat below the 7,000 level, as the March contract dropped 108 points to 6,944.00. S&P 500 futures (SPY ) fell 14.8 points to 719.40 and Nasdaq 100 futures (QQQQ ) fell 19.75 points to 1,097.20.

U.S. stocks dropped on Friday, and closed the month with its worst performance since 1933. The S&P 500 dropped 10.9%, and has dropped 18.6% so far this year, the worst start to the year on record.

"The path to least resistance remains down," said Alec Young, market strategist at Standard & Poor's. He said Friday's job report might lead to a "real capitulation."

Monday's key report will be the Institute of Supply Management's report on manufacturing sentiment for February. Personal income data for January also will be released, as will January construction spending.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: 7000; bho44; bhodjia; bhoeconomy; dow; first100days; obamasfault
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Well, time to yell, "Bungee!"
1 posted on 03/02/2009 3:30:07 AM PST by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

Ping!


2 posted on 03/02/2009 3:30:26 AM PST by TigerLikesRooster (kim jong-il, chia head, ppogri, In Grim Reaper we trust)
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To: TigerLikesRooster

If it wasn’t for the fact that most people have their retirements in 401(k)s and 403 (b)s, most people wouldn’t have to worry about the stock market. This is why we need DEFINED pension plans that are INDEPENDENT of the whims and vagaries of the financial markets. IMO the Dow is acting like a spoiled brat; it throws a temper tantrum (i.e. drops) when things aren’t going its way.


3 posted on 03/02/2009 3:33:51 AM PST by seatrout (I wouldn't know most "American Idol" winners if I tripped over them!)
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To: TigerLikesRooster

We stand on the sinking ship as our leader has F’in idea what he is doing.


4 posted on 03/02/2009 3:34:02 AM PST by bmwcyle (Obama voters, your 401 K's are dead. Now what?)
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To: TigerLikesRooster

We stand on the sinking ship as our leader has no F’in idea what he is doing.


5 posted on 03/02/2009 3:34:50 AM PST by bmwcyle (Obama voters, your 401 K's are dead. Now what?)
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To: All

OK NOW IS THE MEDIA GOING TO FINALLY REPORT THIS IS THE OBAMA CRASH?


6 posted on 03/02/2009 3:37:54 AM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: TigerLikesRooster

Obama will take the market to Zero. He wants to take over free enterprise.


7 posted on 03/02/2009 3:38:17 AM PST by screaminsunshine (f)
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To: TigerLikesRooster

8 posted on 03/02/2009 3:39:24 AM PST by Dallas59 ("You know the one with the big ears? He might be yours, but he ain't my president.")
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To: bmwcyle

did you not see the Gates interview:

Obama is being analytical...


9 posted on 03/02/2009 3:39:53 AM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: longtermmemmory

Sickening suck-up.


10 posted on 03/02/2009 3:40:36 AM PST by John W
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To: TigerLikesRooster
This is Obama’s self-fulfilling prophecy. He said for a year now it's worse than the Great Depression and he will make it true. The only problem Obama is having is that it's not coming fast enough to where he can still blame Bush.
11 posted on 03/02/2009 3:41:09 AM PST by tobyhill (Obama gets no free pass from Free Republic!)
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To: seatrout
This is why we need DEFINED pension plans that are INDEPENDENT of the whims and vagaries of the financial markets.

What is it that pension plans invest in? I used to work for UPS who still has a defined benefit plan which is completely funded and one of the best around. They invest in financial instruments and real estate. Not sure how it would be immune to "whims" or "vagaries"...

12 posted on 03/02/2009 3:41:47 AM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: longtermmemmory

MSM maybe, but for the last week, especially since the budget came out, the business channels, CNBC and Fox Business have laid the blame squarely at 0’s feet. Occasionally they’ll have a guest on who’s bullish on Obama, but for the most part, the business community knows exactly what’s happening and that it’s 0’s fault.


13 posted on 03/02/2009 3:42:05 AM PST by dawn53
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To: TigerLikesRooster

Thank God I’m poor!


14 posted on 03/02/2009 3:42:24 AM PST by Darkwolf377
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To: All

http://www.freerepublic.com/focus/chat/2136635/posts

“Are you looking for a job?”

Note: This thread is updated on a regular basis.


15 posted on 03/02/2009 3:43:06 AM PST by Cindy
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To: Wyatt's Torch
What is it that pension plans invest in? I used to work for UPS who still has a defined benefit plan which is completely funded and one of the best around. They invest in financial instruments and real estate. Not sure how it would be immune to "whims" or "vagaries"...

Exactly.

16 posted on 03/02/2009 3:46:44 AM PST by Puddleglum (Freedom works/socialism steals)
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To: dawn53

civilization is one meal away from anarchy.

Obama is promising the next crust of bread for you and your children. (figurativly)

Obama is pushing america’s head under water then telling us we are drowning.

Sebelius as health secretary? (Friend of Hillary for Hillary care)

6900 projected and DROPPING folks.

Obamanomics in action.


17 posted on 03/02/2009 3:47:25 AM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: seatrout
First most 401Ks etc. now have a way to move out of the market and into cash without penalty. Those who didn't manager their money I don't feel sorry for.

Second, anyone with half a brain who had been paying attention would have known their funds were becoming more risky, not less. At some point one should have made the rational decision to get out of the market (losses) vs. the penalties & taxes. I made that choice on Nov. 5th. Since then I would have lost another 60% vs. taxes/penalties.

Lastly, everyone in a 401K etc. knows they could lose value. It is printed every quarter on their statements.

No, folks still holding onto 401K and not managing their own money are apathetic fools.

18 posted on 03/02/2009 3:50:21 AM PST by EBH (The world is a balance between good & evil, your next choice will tip the scale.)
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To: Puddleglum

most serious investors I know stayed away from motgage backed securities and intuitivly high risk. Most people understood the sub prime prices were inflated to allow the first bank to sell off higher.

The right now market is being driven down by the government policy.

not whims of the market.

Right now it is a matter of picking the companies that will be around in 5 years or 9 years.

Assuming Obama can not or can duplicate his election.


19 posted on 03/02/2009 3:51:27 AM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: bmwcyle
I think he has a very good idea. He is the one pulling the plug on the ship. He WANTS it to go down.

Μολὼν λάβε

20 posted on 03/02/2009 3:53:04 AM PST by wastoute (translation of tag "Come and get them (bastards)" and the Scout Motto)
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