Global economic crisis

[vbhoutex]

Still looking for the bottom. I hope it finds it soon!!!

[Stephanie]

Any time bad news about the economy is reported or confirmed, it's going to throw the market for a loop. Most people sensed (knew) that we were in a recession and part of the recent sell off had that factored in. If it was any other time, it would've been more like a "blip" on the screen.

[gtalum]

Prepare for a major stock market nosedive today. the jobless figures came out today and they're significantly worse than expected. Plus they revised the October numbers and they're worse than estimated. Tomorrow will be a good buying day again.

[Cyclenall]

Prepare for a major stock market nosedive today. the jobless figures came out today and they're significantly worse than expected. Plus they revised the October numbers and they're worse than estimated. Tomorrow will be a good buying day again.

I thought the same thing too, but the market today hasn't been responding to it yet. It' still hovering close to yesterday's closing. Will the last 1.5 hours take a significant turn as usual?

[Brent]

Prepare for a major stock market nosedive today. the jobless figures came out today and they're significantly worse than expected. Plus they revised the October numbers and they're worse than estimated. Tomorrow will be a good buying day again.

I thought the same thing too, but the market today hasn't been responding to it yet. It' still hovering close to yesterday's closing. Will the last 1.5 hours take a significant turn as usual?

Sometimes the stock market makes no sense and today is one of those days. Up over 200 with 17 minutes left in the day(and week). Weird.

WOW at the jobs report, what a nightmare. Worst month in 34 years.

[cycloneye]

Despite the gloom and doom of the jobs report,the stock market closed higher by 259 points.

DJIA=8635.42 +259.18 +3.09% 1,305,857,000.

NCOMP=1509.31 +63.75 +4.41% 978,540,100.

SPX=876.06 +30.84 +3.65% 4,893,405,800

http://www.cnbc.com/id/28073786

[Aslkahuna]

They might have been expecting much worse with the result that the jobs report was actually good news.

Steve

[gtalum]

Yeah what a weird day on Wall St. The markets should have tanked. Only thing I can figure is the investors already figured the number would be much worse than predicted and so it was already priced in.

[Miss Mary]

This looks like as good a place to post this observation as any: I have never received so many catalog email sale promotions before xmas, than I am currently. Each day I am receiving at least 10, sometimes twice a day, same catalog! Right now Eddie Bauer is offering buy one sweater, get 50% off a second sweater. Let me just say EB never has a sale this good!

But I am not spending right now. Is it tempting - yes, it is very tempting!

Usually I treat myself to one new sweater before xmas.

Not this year.

I do feel bad though, I realize retail is struggling and catalog sales have to have taken a nosedive.

Somedays I am receiving more retail sale emails than from personal emails!

[gtalum]

Are you kidding? I'm spending like never before. Now is the time to BUY BUY BUY. Once the economy rebounds, prices will skyrocket.

[Aslkahuna]

If you have money then buying is good. As for me, having seen food prices jump like they have this past year and being on a fixed income, I have already completed my seasonal shopping having spent 1/2 of what I did last year.

Steve

[lurkey]

Dow down 332 pts to under 8,000 pts. . .

[cycloneye]

Consumer Confidence hits a new all time low in January:

http://www.msnbc.msn.com/id/28873574/

[cycloneye]

Not all is bad news in the markets.It rose +200 points today.

Stocks ended at session highs Wednesday, led by banks, amid enthusiasm for this so-called "bad bank" plan and as the $825 billion stimulus package neared approval.

The Dow Jones Industrial Average extended its winning streak for a third straight day, gaining 200.72, or 2.5 percent. The S&P 500 jumped 3.4 percent and the Nasdaq advanced 3.6 percent.

http://www.cnbc.com/id/28898446

[Derek Ortt]

dow and S&P are now at their 1997 lows

[Brent]

Almost below 7,000! Has lost half it's value since late 2007, and still hasn't hit bottom. What a disaster.

[MGC]

Yep, this stock market slide will hurt plenty. Glad I got my 401K monies transfered last Aug to cash, so I have not been hurt by the slide. My sister however has. I'm waiting for signs of a recovery so I can get back in.....MGC

[cycloneye]

A bad sign about when the economy will turn around is the many economists dont see a bottom at this time.I think that talk about the word that starts with the letter n is making investors nervous.

[Nimbus]

The Asian markets are down overnight in response to the earlier US selloff.

According to some reports NK may test a missile capable of reaching Alaska.

The North's space technology agency said Tuesday that full-fledged preparations are under way to launch satellite "Kwangmyongsong No. 2" at Hwadae in the country's northeast, Pyongyang's clearest reference yet to an approaching launch.

You can usually discount these things as saber rattling but it might increase tensions in the Asian markets overnight.

[cycloneye]

Not all is gloom as today the Dow Jones average rose +236 on positive comments by Fed chief Bernanke.

DOW7350.94-236.16+3.32%
NASDAQ1441- 8354.11+3.9%
S&P 500773.-1429.81+4.01%

http://www.msnbc.msn.com/id/29363747/