Skip to comments.Stock retreat persists
Posted on 11/08/2012 3:25:37 PM PST by mdittmar
NEW YORK, Nov. 8 (UPI) -- Stocks dropped in New York Thursday, as investors remained skittish after President Obama's re-election victory.
The Dow Jones industrial average gave up more than 300 points Wednesday to fall below 13,000 as investors were bearish on election results that left Washington split with a Democratic president and Senate, and a Republican-controlled House.
On Thursday, the Commerce Department said the U.S. trade deficit shrank in September, dropping from a revised August trade gap of $43.8 billion to $41.5 billion.
Stocks still fell. By close of trading, the DJIA was off 121.41 points or 0.94 percent to 12,811.32.
The Nasdaq composite index shed 41.70 points or 1.42 percent to 2,895.58. The Standard and Poor's 500 index dropped 17.02 or 1.22 percent to 1,377.51.
On the New York Stock Exchange, 820 stocks advanced and 2,248 declined on a volume of 3.7 billion shares traded.
The benchmark 10-year treasury rose 15/32 to yield 1.619 percent.
The euro fell to $1.2742 from Wednesday's $1.2771. Against the yen, the dollar fell to 79.48 yen from 80 yen.
In Tokyo, the Nikkei 225 index lost 1.51 percent, 135.74 points, to 8,837.15.
In London, the FTSE 100 index shed 0.27 percent, 15.58, to 5,776.05.
I’m not worried. ABC News says there’s signs that employment picture may be improving soon. Yahoo.
Hate to tell the individual investor that things are rough but you probably already know...
The major players are making their money on both up and down markets. You my friend are treading water.
I do expect the markets to generally trend down for the next few months (guess why?). On the other hand, their are markets that do well under the regulatory or Democratic stress that we are facing. Not really sure how it will play out but...
The end result is that markets are in turmoil and will be for several months at the least. You can take your chances or just wait it out. Sometimes it is very hard to pick decent stocks.
Actually, I doubt that anything good will happen during the next four years so you will have to take chances.
It’s more a matter of hope than anything else at this point. I’m sure that our Government will step in to save the markets if they get too out of control.
I’ve not been in the market since 2008.
IMHO, at 12K the market is way overvalued.
In this day of instant, computerized trading, the individual investor is swimming upstream against a very, very strong current. There’s no way you can beat the big boys. No way you can play along either. Everything moves way too fast for you to keep up.
Actually, I got out in August,maybe I should start one of those Market Guru Newsletters;)
It’s all Bush’s fault!
Now and till the end of time.