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MARKET BLOODBATH GETTING WORSE: Earnings Coming In Ugly
TBI ^ | 10-23-2012 | Joe Weisenthal

Posted on 10/23/2012 6:25:28 AM PDT by blam

UPDATE: MARKET BLOODBATH GETTING WORSE: Earnings Coming In Ugly

Joe Weisenthal
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 ...


TOPICS: News/Current Events
KEYWORDS: djia; earnings; investing; markets
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Bloodbath?

Don't think so...at least not yet.

We'll see.

1 posted on 10/23/2012 6:25:38 AM PDT by blam
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To: blam

2 posted on 10/23/2012 6:27:11 AM PDT by blam
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To: blam

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.


3 posted on 10/23/2012 6:28:31 AM PDT by TheRhinelander
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To: blam

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.


4 posted on 10/23/2012 6:32:46 AM PDT by txrefugee
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To: blam
Then there's also the fact that there are hints that Bernanke won't stand for re-appointment in 2014.

That alone should send the markets thru the roof.......in a sane world........

5 posted on 10/23/2012 6:34:11 AM PDT by Red Badger (Why yes, that was crude and uncalled for......That's why I said it..............)
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To: blam

6 posted on 10/23/2012 6:34:27 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: concerned about politics

Down 155 at the open.


7 posted on 10/23/2012 6:36:00 AM PDT by John W (Viva Cristo Rey!)
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To: blam

(MSNBC headline) More proof that Corporate fat cats want Obama to fail or something.


8 posted on 10/23/2012 6:36:23 AM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
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To: blam
MARKET BLOODBATH GETTING WORSE: Earnings Coming In Ugly

No Bloodbath .... yet. But

If 0bama steals the election, hang on.

9 posted on 10/23/2012 6:37:48 AM PDT by The Sons of Liberty ("Get that evil, foreign, muslim, usurping, gay commie bastard out of MY White House!" FUBO!)
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To: Sir Napsalot

Wall Street (Investors) usually rally around if Romney (Republicans) showed sign(s) of winning.

No?


10 posted on 10/23/2012 6:38:38 AM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
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To: blam

The DJIA is down 166 as I post.

11 posted on 10/23/2012 6:39:43 AM PDT by blam
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To: blam

It looks like a lot of companies are holding back layoff announcements until after the election


12 posted on 10/23/2012 6:40:05 AM PDT by GeronL (http://asspos.blogspot.com)
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To: GeronL
Green Shoots
13 posted on 10/23/2012 6:43:35 AM PDT by blam
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To: blam
DJIA, minus 187
14 posted on 10/23/2012 6:46:51 AM PDT by blam
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To: GeronL

Not DuPont.


15 posted on 10/23/2012 6:49:12 AM PDT by John W (Viva Cristo Rey!)
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To: GeronL
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.

16 posted on 10/23/2012 6:49:34 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: blam

Big gap. sweet. Out and ready to buy the bottom let it drop.


17 posted on 10/23/2012 6:50:58 AM PDT by Gasshog
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To: blam
DJIA 13160.62 -185.27‎ (-1.39%‎)
Oct 23 9:46am ET

We are now in the 9:30 Eastern short covering plateau. Watch around 10:00 Eastern. If it stays level or goes up then no bloodbath. If it heads down again after the short positions have been covered then you can start talking about a bloodbath.
18 posted on 10/23/2012 6:51:30 AM PDT by GonzoGOP (There are millions of paranoid people in the world and they are all out to get me.)
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To: John W
Still going down....

19 posted on 10/23/2012 6:52:07 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: blam

200 ema look for support.


20 posted on 10/23/2012 6:53:26 AM PDT by Gasshog
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