STOCK MARKET TO OPEN -100 points in first hour?

Chat about anything and everything... (well almost anything) Whether it be the front porch or the pot belly stove or news of interest or a topic of your liking, this is the place to post it.

Moderator: S2k Moderators

Post Reply
Message
Author
GalvestonDuck
Category 5
Category 5
Posts: 15941
Age: 57
Joined: Fri Oct 11, 2002 8:11 am
Location: Galveston, oh Galveston (And yeah, it's a barrier island. Wanna make something of it?)

#21 Postby GalvestonDuck » Mon May 17, 2004 1:30 pm

wx247 wrote:
GalvestonDuck wrote:News of the sarin seems to be sending it back up...for now.


Why would that send the market back up?? Just curious. It would make me nervous as in investor to the instability in the region.


I figure it makes sense for it to go back up, if even just for a short time, because the discovery of chemical weapons backs up one of the big arguments about us being in Iraq in the first place -- WMD's (even though some would argue just how massively destructive sarin is).

Things that are favorable in regards to how W is doing the job tend to make it go up. Things that shed an unfavorable light on his job tend to make it go down.

Of course, it's not really a positive thing (an attack with chemical weapons), but the outcome (no serious injuries and the discovery of the sarin without a major incident) is.
0 likes   
Top
User avatar
yoda
Category 5
Category 5
Posts: 7874
Joined: Tue Jan 13, 2004 3:51 pm
Location: Springfield VA (20 mins south of DC)
Contact:
Contact yoda

#22 Postby yoda » Mon May 17, 2004 1:42 pm

2:40 EST

Dow 9,918.27 -94.60 (-0.94%)
Nasdaq 1,881.93 -22.32 (-1.17%)
S&P 500 1,085.75 -9.95 (-0.91%)
10-Yr Bond 4.706% -0.082
NYSE Volume 1,034,045,000
Nasdaq Volume 1,114,996,000


June Crude Oil Prices are at $41.45, as of 2 PM
0 likes   
Top
User avatar
isobar
Category 5
Category 5
Posts: 2002
Joined: Thu Feb 06, 2003 9:05 am
Location: Louisville, KY

#23 Postby isobar » Mon May 17, 2004 1:44 pm

My husband manages a brokerage firm branch office, and he says the thing that's worse for the market than bad news is "uncertainty", whether it's economical, political, global, etc. By the time bad news is announced, the market usually has already reacted to it and begins to rebound. That's why it seems to defy all logic and makes us crazy.
0 likes   
Top
User avatar
TexasStooge
Category 5
Category 5
Posts: 38127
Joined: Tue Mar 25, 2003 1:22 pm
Location: Irving (Dallas County), TX
Contact:
Contact TexasStooge

#24 Postby TexasStooge » Mon May 17, 2004 1:52 pm

DANG!! THis is worse than the opening!!!

As of 1:53PM CDT:

Dow 9,905.00 -107.87 (-1.08%)

Nasdaq 1,879.27 -24.98 (-1.31%)

S&P 500 1,084.64 -11.06 (-1.01%)

10-Yr Bond 4.706% -0.082

NYSE Volume 1,062,492,000

Nasdaq Volume 1,146,568,000

Quote data provided by Reuters
0 likes   
Weather Enthusiast since 1991.
- Facebook
- Twitter
Top
Guest

#25 Postby Guest » Mon May 17, 2004 1:58 pm

I don't know much about the stock market, but a 1% loss doesn't seem that bad.
...Jennifer...
0 likes   
Top
User avatar
Stephanie
S2K Supporter
S2K Supporter
Posts: 23843
Age: 63
Joined: Thu Feb 06, 2003 9:53 am
Location: Glassboro, NJ

#26 Postby Stephanie » Mon May 17, 2004 2:26 pm

isobar wrote:My husband manages a brokerage firm branch office, and he says the thing that's worse for the market than bad news is "uncertainty", whether it's economical, political, global, etc. By the time bad news is announced, the market usually has already reacted to it and begins to rebound. That's why it seems to defy all logic and makes us crazy.


Exactly!

Jennifer - Actually, it isn't considering the news of the day so far. We've had 100 pt. drop days in the past (i.e. interest rate news) and then rebounded the next day or two afterwards. Now, if this trend continues... :eek:
0 likes   
Top
User avatar
wx247
S2K Supporter
S2K Supporter
Posts: 14279
Age: 42
Joined: Wed Feb 05, 2003 10:35 pm
Location: Monett, Missouri
Contact:
Contact wx247

#27 Postby wx247 » Mon May 17, 2004 2:31 pm

-100 point drops are not that rare, but the fact that this drop comes on the heels of such an unstable situation in India makes it that more newsworthy. The thing is this... like Stephanie said... is this just one bad day or is this going to be a trend while India is so unsettled.
0 likes   
Personal Forecast Disclaimer:
The posts in this forum are NOT official forecast and should not be used as such. They are just the opinion of the poster and may or may not be backed by sound meteorological data. They are NOT endorsed by any professional institution or storm2k.org. For official information, please refer to the NHC and NWS products.
Top
Guest

#28 Postby Guest » Mon May 17, 2004 3:23 pm

Thanks for filling me in Steph and Garret. :)
...Jennifer...
0 likes   
Top
User avatar
yoda
Category 5
Category 5
Posts: 7874
Joined: Tue Jan 13, 2004 3:51 pm
Location: Springfield VA (20 mins south of DC)
Contact:
Contact yoda

#29 Postby yoda » Mon May 17, 2004 4:17 pm

DOW IS DOWN TO 9905 for DAY...

CRUDE OIL NEAR $42 a BARREL
0 likes   
Top
User avatar
wx247
S2K Supporter
S2K Supporter
Posts: 14279
Age: 42
Joined: Wed Feb 05, 2003 10:35 pm
Location: Monett, Missouri
Contact:
Contact wx247

#30 Postby wx247 » Mon May 17, 2004 4:25 pm

Thanks for the update Matt. We shall see what tomorrow brings now.
0 likes   
Personal Forecast Disclaimer:
The posts in this forum are NOT official forecast and should not be used as such. They are just the opinion of the poster and may or may not be backed by sound meteorological data. They are NOT endorsed by any professional institution or storm2k.org. For official information, please refer to the NHC and NWS products.
Top
User avatar
Stephanie
S2K Supporter
S2K Supporter
Posts: 23843
Age: 63
Joined: Thu Feb 06, 2003 9:53 am
Location: Glassboro, NJ

#31 Postby Stephanie » Mon May 17, 2004 6:15 pm

I heard about the oil too Matt. :x

Is anyone in our government PAYING ATTENTION???
0 likes   
Top
Post Reply

Return to “Off Topic”

Who is online

Users browsing this forum: No registered users and 15 guests