Skip to comments.MARKET BLOODBATH GETTING WORSE: Earnings Coming In Ugly
Posted on 10/23/2012 6:25:28 AM PDT by blam
UPDATE: MARKET BLOODBATH GETTING WORSE: Earnings Coming In Ugly
October 23, 2012
You can get a full roundup of what's happening in markets this morning here, but the basic gist is: Markets tumbling everywhere, lots of weak earnings.
First, the markets: Dow futures are off about 130 155, and the major indices are all down a little over 1%.
It's ugly in Europe as well. Germany is down 1.4%. Spain is down 1.1%. Italy is down 1%.
As for the micro, there are lots of ugly earnings this morning.
Dow Component DuPont is down 6% after a big whiff. 3M also cut its outlook. The stock is also off a few percent. There were also ugly reports in the UK, as luxury goods maker Mulberry announced an earnings warnings.
Then there's also the fact that there are hints that Bernanke won't stand for re-appointment in 2014.
So far, today isn't a disaster -- markets fall 1% all the time -- and this just gets us back to where we were yesterday during the day. Still, a squishy day.
(Excerpt) Read more at businessinsider.com ...
Don't think so...at least not yet.
Met with my financial adviser last night. My accounts are up 19+% for the year.
So all you people that pulled out in fear, HAHAHAHA! Losers!
I’ll still be in for the Romney rally in November.
Smart investors sold before the quarterly reports from business came in, and a dismal lot they are. This market is based on nothing but Bernanke’s funny money, and the wise investor should get out before the stock bubble bursts.
That alone should send the markets thru the roof.......in a sane world........
Down 155 at the open.
(MSNBC headline) More proof that Corporate fat cats want Obama to fail or something.
No Bloodbath .... yet. But
If 0bama steals the election, hang on.
Wall Street (Investors) usually rally around if Romney (Republicans) showed sign(s) of winning.
The DJIA is down 166 as I post.
It looks like a lot of companies are holding back layoff announcements until after the election
It's the uncertainty. The election is still too close to call.
If Oboma wins, massive layoffs will hit us immediately, because of obomacare and taxmageddon. If Romney wins, expect a small level of hiring that gets better over time.
Right now, people are waiting to find out if they're going to have to go Galt or not. They're not going to keep busting their humps every day just so the democrat base can leech away everything they've ever worked for. It isn't worth it.
Big gap. sweet. Out and ready to buy the bottom let it drop.
200 ema look for support.