Skip to comments.DOW FALLS 100 AND SPAIN PROTESTS AUSTERITY
Posted on 09/25/2012 1:43:13 PM PDT by blam
DOW FALLS 100 AND SPAIN PROTESTS AUSTERITY: Here's What You Need To Know
September 25, 2012
Market volatility picked up amid some mixed signals from the economy.
First the scoreboard:
Dow: 13,458, -100.2, -0.7%
S&P 500: 1,441, -15.2, -1.0%
NASDAQ: 3,117, -43.1, -1.3%
And now the top stories:
* After the U.S. markets closed yesterday, global economic bellwether Caterpillar shook the earth by cutting its earnings guidance for 2015. "Our goal hasn't changed but the economy has," said management.
* However, more evidence suggests the U.S. housing market is recovering. According to S&P Case-Shiller, home prices rose 1.2% year-over-year in July. This was much higher than the 1.05% increase economists were looking for.
* With bullish housing data mounting, the debate seems to be less about whether the housing market has bottomed. Rather, it seems to be whether it will contribute materially to economic growth. The bulls argue that it offers the shot in the arm needed to boost consumer confidence and spending. The bears think that housing just doesn't contribute enough to offset all of the other global economic concerns.
* In a separate report, the Conference Board said consumer confidence surged to 70.3 this month from 61.3 a month ago. This was much higher than the 63.1 expected by economists.
* Markets turned negative just before 1PM as images from the Spanish austerity protests started crossing. And the selling just intensified into the close.
(Excerpt) Read more at businessinsider.com ...
The complain in Spain comes mainly from the pain........................
Notice how they don’t show pictures from Greece anymore...
Dali was right!
If they like to protest austerity then make it more.
A few months ago it was around $1.36 to one Euro, it sank to $1.23; and in the last couple of weeks it's up to $1.29.
Your just comparing two failing fiat currencies in death spirals
Gas and food prices have sky rocketed and the damnable Obamugabe worshipping media give him a pass.
I am holding off any big purchases...if Obamugabe wins, I will stop spending on things I want because of the coming Taxmageddon.
Home prices giving the economy a boost? Bull crap. Not with this commie occupying our house.
Housing is not up!!!!!!!
I’d go and protest austerity but I’m too cheap to buy the bus ticket...
“However, more evidence suggests the U.S. housing market is recovering. According to S&P Case-Shiller, home prices rose 1.2% year-over-year in July. This was much higher than the 1.05% increase economists were looking for.”
Those houses are going to come right back onto the market in a few months and then what’s going to happen to prices?
Care to explain this one?
And most of the housing bump is the banks liquidating thier forclosures after sitting on them for 2 years.
If they changed the word “ Austerity “ maybe people would like it.Obama Admin do it all the time
Not exactly. Investors have been been buying foreclosures and renting them for the last 18 months or so and have been making a killing as demand for rentals is huge.
Another datapoint on housing is that housing starts are up 15+% over last year and eclipsed 700K starts for the first time since 2008.
It all comes down to a ‘timing’ game. Ubama needs some positive economic news just before the election, and there are forces (think Soros and friends) who will do what they can to manipulate indicators. Meanwhile, I hope Romney is good friends with the Bush family.
Yep, the Dow is down 75 one-hundredths of one percent (0.75%). WAGD! [We’re all going to die.] WAD!
So the Fed will ride to the rescue as promised with tons more fresh money for government employees.
Before long, renters will be out of money, too. The trend will probably continue for a couple of decades, as we Baby Boomers croak in earnest and leave a population of younger folks without jobs and children (bond collapse followed by interest rate hikes followed by haircuts for pensioners, too, followed by repudiations, currency adjustments, and so on).
"In fact, he expects prices to drop another 20 percent from here and doesn't think we will see a bottom in the market for another several years."
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