Posted on 01/07/2016 5:39:09 AM PST by TigerClaws
U.S. stock index futures indicated a sharply lower open on Thursday after China news overnight added to concerns about global economic growth. Oil continued to slide, with U.S. crude hitting a 12-year low.
Dow futures were off about 380 points after earlier falling nearly 450 points, as of 8:30 a.m., ET.
Weekly jobless claims came in at 277,000.
Treasury yields held near earlier lows. The U.S. dollar index held about half a percent lower against major world currencies.
(Excerpt) Read more at cnbc.com ...
We really need a more detailed way to headline these stories.
There is a difference between the DJIA being down 100 points and being down...
393 POINTS
as it currently is.
“393” is technically “triple digits,” but that is far worse than 100 points.
(Yes, I know, this is pre-opening, but that is still a huge drop.)
So much for the future of economic growth being in the “emerging markets” (Jim Rogers, you can go to hell).
As I said ten years ago, their economies produce no true wealth but only parasite on the wealth of America and other Western nations. When America and those Western nations collapse, so too will the emerging markets.
Anyone that invests in Communist country that builds ghost cites needs his head examined.
"Surging volatility in global equity, currency, and credit markets and significant stress in a major world economy have George Soros on edge. Speaking at an economic forum in Sri Lanka, the billionaire hedge fund manager warned global markets are facing a crisis and investors need to be very cautious. On the heels of the second trading halt in four days, Soros exclaimed "I would say it amounts to a crisis... which reminds me of 2008."
-375 points (what it's currently at) is a little over 2%. Not nearly as breathtaking.
-100 points - still "triple digits" - would be a little over 1/2 a percent. Or approximately "An Average Day of Movement".
But shrieking headlines get the attention....
Increased consumer spending equals more income for —— China...
That was part of my argument 10 years ago. Who can trust the economic stats that are controlled by Communists or Socialists?
These are the people whose golden rule is, “The end justifies the means.”
CNBC reporting that China has suspended their stock market circuit breakers.
A bigger issue than the verbiage used by the media to hid things is what the three day performance has been.
I learned a long time ago that chasing daily events ties you into a knot real fast as you don’t know what is happening by looking at snap shots.
It is my impression that so fat this year the Dow has taken consistent hits with it opening a couple of hundred points below the previous close and then closing “only” a hundred points down “recovering from their opening lows”.
Sorry, but performance like that tells me that there is something very wrong and the people in the market and reporting on it are worried and are doing their best to hid things.
BTW - I am not a market player but I did stay in a Holiday Inn Express last night.
Just my opinion, but economics is not a science, and anyone who expresses dogmatically that they know where things are headed (e.g. ‘the future of economic growth being in the emerging markets’) is just off the mark. Unless you have specific illegal insider information, all of it is a ‘best guess’. That’s not to say there is no value to the field of economics - which there clearly is. It’s just not a science, and a little more humility and honesty by the economic gurus would be helpful.
The China debacle was certainly always a possibility, but was played down. Personally, I think we need to stabilize our own national producer-consumer balance internally before making ourselves so vulnerable to every disaster in the foreign markets. At this point, if China starts having a cash flow problem, look for some of our debt to them to be called, and for interest rates on whatever we owe them to increase.
Well, stock of InterContinental Hotel Groups, which owns Holiday Inn, is down 2.6%.. (not that I'm blaming your stay...)..
I had some cash tied up in an index-based equity mutual fund since May of 2015. Lost ten percent of it just this past week. Issued a sell order this morning. In November I thought it was horrible that I was down two percent over my cost and decided to wait for the market to improve. Hah.
Funny, now that Obama is in office, every drop in the Dow is caused by middle east turmoil (oh and oil slide) or China market slip or bad weather or climate change.
However, every time the market hiccuped under Bush, it was BUSH POLICIES CAUSING MARKET TURMOIL!!
Never, in the last seven years, has a single market fluctuation been attributed to Obama’s policies, but ALL the climb has been!!! But, just remember, the MSM doesn’t take sides!!
“...but I did stay in a Holiday Inn Express last night.”
The cinnamon rolls served at the breakfast bar are WELL WORTH the stay.
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