Posted on 08/24/2015 2:24:49 AM PDT by Enlightened1
U.S. stock futures opened lower on Sunday after Wall Street recorded its worst day since 2011.
Dow Jones industrial average futures opened down about 80 points and shed as much as 163 points before holding at about 124 points lower.
S&P 500 futures opened down 12.50 points and fell as much as about 18 points before holding at about 14 points lower. Nasdaq futures fell 33 points at the open before falling as much as 44 points and were last down about 35 points.
Asian shares sold off dramaticallyat their open as well, with Tokyo sharply lower and all eyes on where China's markets would start the day.
Mohamed El-Erian, chief economic adviser at Allianz, said in a tweet that, without new policy announcements and no positive economic news, selling will continue.
U.S. Treasurys held firm on Sunday, with the 10-year note yielding about 2.05 percent, not far from its Friday close.
"I think the bond market into the end of next week is going to operate on its own devices. There are some technical things with the end of the month. It's also the end of the summer…People don't want to get involved at these levels," said George Goncalves, head of rates strategy at Nomura Securities.
On Friday, U.S. equities fell about 3 percent across the board, with the Dow Jones industrial average entering correction territory for the first time since 2011. The Nasdaq Composite also closed the session in correction territory.
European stocks also fell sharply on Friday, with the German DAX and the FTSE 100 index closing down 2.95 percent and 2.83 percent, respectively, as concerns over global growth weighed on investors.
In China, the Shanghai Composite dropped 4.2 percent after disappointing factory growth figures were released, with Japan's Nikkei 225 following suit, plunging down.
(Excerpt) Read more at cnbc.com ...
Let's hope nothing happens today.
House of cards....
“Buy when everyone else is selling and hold when everyone else is buying. This is not merely a catchy slogan. It is the very essence of successful investments.”
J. Paul Gettty, 1892-1976
Possible? S&P, Dow futures are way down. Half of Wall Street has been up all night. Monday will be a rout.
Catch a falling knife.
I will be buying today.
Not good for business or any of us. Every time things drop, I nearly go out of business as everyone tightens up spending, worries about the future. If this happens, I think it overwhelmingly strengthens Trump’s hand. “It’s the economy, our nation’s survival” Can you see any of the other candidates having a stronger hand to tackle this?
Why didn’t you buy Friday?
Why? Trump doesn’t know much about finance. He’s kind of a laughing stock in that area.
Seriously?! Okay, whatever you want to think or conclude, is fine. /s
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Plus, I see China has their own version of Janet Yellen:
I did. XOM, RDS/B, BP. I plan to buy more XOM today. Dividend yield above 4%. XOM hasn’t missed a dividend in over 100 years.
Think I’ll hold off on starting my daughter’s new 529 Index fund for a bit and see if I can get in at the bottom.
Caveat Emptor to you and anyone else here: I’m not suggesting that YOU or ANYONE ELSE buy today. I’m telling you what I’m going to do, and what I have done.
Every investor’s situation is different.
When you figure out where the bottom is, please post asap!
I’m thinking around 5000
So then we need to short the market? How many put options are you going to buy, and at what price?
http://www.investopedia.com/terms/p/put.asp
I thought they'd be active last Friday, so consumers wouldn't be concerned during week-end shopping. I'm still confident some type of intervention will occur this week; otherwise, Obama's economic reputation will be tarnished.
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