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BUSINESS: Markets Shrug Off London Terrorist Attacks

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posted on Jul, 7 2005 @ 04:57 PM
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World financial markets generally shrugged off the horrific terrorist attacks in London today, recovering most losses after selling off sharply early. Most New York stock indices even ended with modest gains. Notable exceptions are oil futures and transportation stocks that fell due to concerns from lower economic activity and tourism that could result from renewed fears of terrorism.
 



www.nytimes.com
Global financial markets rebounded from an early sell-off after today's bombings in London, and stocks in the United States even ended the day with modest gains, reflecting that investors are learning to deal with terrorists attacks, analysts said.

European stock markets cut their early losses by more than half, while stocks in the United States crossed into positive territory in the last hour of trading in New York.

At the same time, the rush of investors to the haven of the bond market slowed very quickly. After the first news of the bombings early this morning, the price of the Treasury's 10-year note surged more than a point and the yield, which moves in the opposite direction, fell as low at 3.93 percent. But in afternoon trading, the yield had moved back to 4.05 percent, down from 4.07 percent Wednesday.

The price of crude oil fell, but some analysts said they did not think the decline would last.


Please visit the link provided for the complete story.


I'm really glad to see this happen...one of the terrorists' goals is to undermine and destabilize our financial systems and markets. I'm kind of surprised how petroleum reacted, falling sharply putting an emphasis on reduced demand rather than a possible escalation of war in the Middle East.




posted on Jul, 7 2005 @ 06:42 PM
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Interesting,
the Market has a collective mind of it's own.
Probably a little frustrating, for Al-quaeda types..bummer for them.



posted on Jul, 7 2005 @ 07:31 PM
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Fox News' Brian Kilmeade: London terror attack near G8 summit "works to ... Western world's advantage, for people to experience something like this together"



mediamatters.org...

The following exchange between Fox News host Brian Kilmeade and Fox News business contributor and substitute host Stuart Varney occurred during breaking news coverage of the attacks on London subways and buses on the July 7 edition of Fox News' Fox & Friends:

KILMEADE: And he [British Prime Minister Tony Blair] made the statement, clearly shaken, but clearly determined. This is his second address in the last hour. First to the people of London, and now at the G8 summit, where their topic Number 1 --believe it or not-- was global warming, the second was African aid. And that was the first time since 9-11 when they should know, and they do know now, that terrorism should be Number 1. But it's important for them all to be together. I think that works to our advantage, in the Western world's advantage, for people to experience something like this together, just 500 miles from where the attacks have happened.

VARNEY: It puts the Number 1 issue right back on the front burner right at the point where all these world leaders are meeting. It takes global warming off the front burner. It takes African aid off the front burner. It sticks terrorism and the fight on the war on terror, right up front all over again.

KILMEADE: Yeah.





Good old fair and balanced Fox, for dummies.



posted on Jul, 7 2005 @ 07:33 PM
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I posted, earlier this afternoon, that I believed the markets would recover just like they alway did after IRA attacks.



posted on Jul, 7 2005 @ 07:44 PM
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MA,

I interpret that as:
The attack was aimed at disrupting the G8...
BUT, it bacame a disadvantage, for the attackers...Because this G8 group
experienced the situation together..

Fox and Friends is a Morning Commentary show, with hourly News updates.
you were hearing an opinion



posted on Jul, 7 2005 @ 07:53 PM
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Originally posted by spacedoubt
Fox and Friends is a Morning Commentary show, with hourly News updates.
you were hearing an opinion





Yes, from a pair of certifiable idiots supporting a corrupt agenda.

My take is this medium provides no advantage to the US or the western hemisphere or any other part of the world.

But so long as "the markets" are OK...



posted on Jul, 7 2005 @ 08:02 PM
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MA,

Maybe idiots..Although I think Kilmeade is funny, at least on "regular" news days..
But if one of the expected reults of this bombing is
the collapse of the Western markets. It's worth noting that they were
unsuccesful..



posted on Jul, 7 2005 @ 09:06 PM
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fox news
funnier than the comedy channel, to bad lotsa crew watch it fer the news. goebbels would be proud of the priks........and the markets? pfffffft.......the ONLY thing that crossed the mind of traders when they heard about this lattest attack was "whats gold at?"......ask any traders ya know who were on the floor on 9/11, there were high fives goen down and careers bein made. sad.



posted on Jul, 8 2005 @ 04:20 AM
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I don't consider the hosts of Fox & Friends to have the greatest minds on television, but at least the morning show is attempting to discuss the news, not makeup tips from celebrities and other nonsense so prevalent on other network morning "news" shows.



posted on Jul, 8 2005 @ 04:00 PM
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Of course-gotta keep that money moving...money money money.

That's all what G8 is all about, and the truth behind Kyoto as well. Who's getting money, who's taking money, who's making it and who's losing it. No individual power players were hurt, just the people, the unwashed masses, the peons and the servants to these elite.

Now if a bomb goes off in Madonna's car in Hollywood or Rupert Murdoch's home, well then, things will change.



posted on Jul, 9 2005 @ 03:11 AM
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Originally posted by Phugedaboudet

Now if a bomb goes off in Madonna's car in Hollywood or Rupert Murdoch's home, well then, things will change.


for the better



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