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The "up-to-the-minute Market Data" thread

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posted on Mar, 18 2009 @ 09:30 AM
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FTSE 100 3,779.44 10:12AM ET -77.66 (-2.01%)
CAC 40 2,735.57 10:27AM ET -31.71 (-1.15%)
DAX 3,966.46 10:12AM ET -21.31 (-0.53%)
===
Dow Jones Industrial Average 7,286.18 10:28am ET -109.52 (-1.48%)
S&P 500 INDEX,RTH 769.02 10:28am ET -9.10 (-1.17%)
NASDAQ Composite 1,454.11 10:29am ET -8.00 (-0.55%)
===
Gold $896.75 ??!?!?!?!?!?!
WTH?!?!?!




posted on Mar, 18 2009 @ 09:49 AM
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reply to post by Hx3_1963
 


I have to agree with your gold comment, but its all going into financials..

GreenBicMan is wondering with AIG up huge already if someone doesnt know something about what is going to happen later in the day...

YIKES!!!!



posted on Mar, 18 2009 @ 10:11 AM
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A?

Nasdaq 1,462 +58.09



Market Watch ticker broke?



[edit on 18-3-2009 by DangerDeath]



posted on Mar, 18 2009 @ 10:21 AM
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reply to post by DangerDeath
 
yeah decimal point off it looks like...

move it over one LOL
NASDAQ Composite 1,456.51 11:19am ET -5.60 (-0.38%)



CITIGROUP INC 3.17 11:07AM ET 0.66 (26.29%) 466,240,181
MORGAN STANLEY 22.91 11:15AM ET -0.90 (-3.78%)
JPM JP MORGAN CHASE CO 24.80 11:16AM ET -0.34 (-1.39%)


GOLD $886.46

[edit on 3/18/2009 by Hx3_1963]



posted on Mar, 18 2009 @ 10:47 AM
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reply to post by Hx3_1963
 


CITI broke my resistance and then headed lower afterwards now back over 3.01 to 3.09....

Something is brewing, my dad agrees.. cant say what though..

Anyone have any info other than the usual for financials????????????

EDIT : 661 Million Shares Trading Hands already this morning...I posted earlier about breaking resistance on again hopefully 1.5billion shares... keep an eye on financials like a hawk folks

[edit on 18-3-2009 by GreenBicMan]



posted on Mar, 18 2009 @ 11:02 AM
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All Hail Redhatty fer this Major Headline!!! Stars 4 Her!!!

Financial Companies' Stock Borrow Disappears
zerohedge.blogspot.com...
Posted by Tyler Durden at 11:10 AM
Wednesday, March 18, 2009

Rampant rumors from traders that repo desks are continuing to call in shares used to short financials such as Citi and AIG. This is causing a forced covering of all financial shorts, and an impossibility to put on new shorts... Interesting how this happens the day before Obama shows up on Leno. This fits in perfectly with Zero Hedge's conspiracy theory of the Volkswagen situation repeating itself in financial sector in general and Citi in particular.
...Well there ya go...

That's the answer to all the fuzzy moves today...


Agency details new mark-to-market guidance
MarketWatch
FASB to vote April 2 on alternatives for accounting in illiquid markets

WASHINGTON (MarketWatch) -- The Financial Accounting Standards Board on Wednesday provided additional details about proposed guidance the agency is issuing that could change how banks and other companies value illiquid mortgage assets.

At issue are controversial mark-to-market rules, an accounting methodology that requires banks and other corporations to assign a value to an asset, such as mortgage securities, credit-card debt or student-loan investments, based on the current market price for either the security or a similar asset.

The new guidance would give auditors more flexibility in valuing illiquid mortgage assets that may have a long term value or strong cash flow -- in other words they are not distressed assets, but they can't be sold in the markets today.

Proponents of abolishing or modifying the mark-to-market rules, which are also known as fair value regulations, say that assets owned by troubled banks have become impossible to value, as the market for these assets have frozen up due to the financial crisis.

The FASB's proposed guidance would stop short of changing the mark-to-market rules, but it would clarify how auditors should interpret those existing regulations. It would allow banks and other companies that have had a difficult time valuing illiquid mortgage and other securities, the ability to use "significant judgment" when valuing the assets.

The proposal is dubbed "Determining Whether a Market Is Not Active and a Transaction Is Not Distressed," and is in response to concerns by banks and other financial institutions who have been concerned that the market for illiquid mortgage securities is inactive and distressed, despite their strong cash flow.

However, it's unclear whether the additional guidance would be sufficient for bank auditors to make significant changes to how they value illiquid mortgage securities.


[edit on 3/18/2009 by Hx3_1963]



posted on Mar, 18 2009 @ 11:42 AM
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Obama is an idiot.

He's talking right now about how we have to move away from an economy with constant boom and bust cycles, to an economy with constant long term growth.

This is what scares me, in capitalism you have long term growth, but it comes with boom and bust cycles. It is when the fed starts messing around with interest rates and the government protecting their special interest is when we start running into problems.

This dude is a mental midget.

______

WOW!


A reporter just asked him how do you feel about receiving 100 grand from AIG for his campaign and he completely avoids the question, and is now sticking up for Timmy the Tax cheat.

[edit on 18-3-2009 by Hastobemoretolife]

[edit on 18-3-2009 by Hastobemoretolife]



posted on Mar, 18 2009 @ 11:45 AM
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Caution On Quantitative Easing (QE)



Be warned Ben....

The BOE executed their first "QE" operation today.

The "bid to cover" was an astonishing 7.35.

This means that for every bond purchased 7.35 were tendered, or made available by willing sellers.

Back in January I posted a Ticker in which I made clear what was likely to happen if Bernanke actually attempted to do (as opposed to threatening) QE:

Bernanke bluffed and the bond market called it. He cannot monetize several trillion in new issue plus the entirety of the 10 and 30 year bonds out there to stop a bond market sell-off. In addition, the market no longer believes him, as evidenced by today's price action. A serious bond-market sell-off will ramp the cost of all credit, including mortgages and commercial loans. If he tries to monetize the result will be current bondholders tendering into his buying, forcing him to essentially "consume" the entire float. That stunt will cause the dollar to implode and we wind up exactly like Iceland. Overnight. Ben knows this; ergo, he is screaming like a petulant child while the market laughs at him just like the market forced Paulson to do what he said he wouldn't with Fannie and Freddie. Bernanke had better shut the hell up before he precipitates a bond market dislocation; traders can and will try to force him to make good on the threat.

Ding. The BOE now has seen exactly what happens when you promise as a government to overpay for something - everyone hits your bid immediately!

This is a form of crack that the government cannot afford to loose into the market - as soon as the buying pressure is removed rates will start to rise again, forcing yet another purchase.

Ultimately The Fed winds up owning all of its own government's bonds, having destroyed the private capital market for sovereign debt (just as it has done for other securitized debt by threatening to overpay for those issues!)

The difference is that if this happens for sovereign debt then deficit spending becomes impossible on an instant basis; this would in turn force a nearly 75% contraction of government spending.

The outcome of this event would be the immediate destruction of Social Security, Medicare, half the military budget and half of all other government programs.

PS: Bernanke knows this, which is why it hasn't happened yet. Let's hope he continues to remember it, because the destruction of our government is very, very un-funny, and this would likely precipitate exactly that in a "vast and fast" form.



posted on Mar, 18 2009 @ 11:56 AM
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reply to post by Hastobemoretolife
 


What scared me even more that how idiotic he sounds was his statement, " the the new powers will help to prevent systemic risk."

And to think, people thought BUSH was going to try and be a dictator



posted on Mar, 18 2009 @ 12:30 PM
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reply to post by redhatty
 


It is crazy.

It really sounds like he isn't planning on giving up the seat if/when he gets voted out.

I'm going to say that elected officials need to have their heads checked out before being able to run for office.

I'm surprised the market didn't bottom out after that interview. I guess they are going to hold on and make as much money as they can in the mean time.



posted on Mar, 18 2009 @ 12:41 PM
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This is a FREAKY day folks!

I have to head back to the gym but am reading like a maniac trying to keep up...thanks to all who share!


Talk to me about T-Bills when the dust settles? I still have some and am chomping at the bit to dump 'em.



posted on Mar, 18 2009 @ 12:47 PM
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reply to post by Hastobemoretolife
 


Obama will be a one time sitting president, he already has shown that when it comes to the masters at the Federal Reserve level is nothing more than the second hand man.

Something I said after he won the elections, all those hopes he had for America, actually they were honest, until he found out that in America he is nothing but a figure head.

The corruption been unveiled in our nation is been closely watch by all those nations that hated America to the core now they are waiting for the right time to finish the killing blow.

The storm that has take over the US economy is too big for the established economic norms to fix without allowing the Markets to crash as they should have done by now.

We are living the days of nothing but illusions prop by the Federal Reserve at the expenses of debt, borrowing and the promise of a money pot provided by the tax payer.



posted on Mar, 18 2009 @ 01:03 PM
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reply to post by marg6043
 


I hope he only sits for one term, but I'm not so sure. There are a lot of kool-aid drinkers. People that like Obama but don't like his policies. How that can be I don't know, its like saying I like the guy who robbed me but I don't like the fact he robbed me.

It is all going to come crashing down eventually. The people running the who are incompetent and have gotten themselves into a mess that they can't get themselves out of.

____

Jeeze, Ed Libby was just reading some death threats written to AIG employee's. Bwaney Fwank is showing his false outrage. Libby is saying they are selling whatever assets are possible to repay taxpayer money.

They have to let it crash and rewrite all the laws and regulations. Start over fresh.



posted on Mar, 18 2009 @ 01:16 PM
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reply to post by marg6043
 


I think that we may have reached a point of complexity, as a civilization, where the Presidency is too much for one man. I don't think that it's a coincidence that both Bush and Obama became dramatically less eloquent after taking the position.

Our debt is too large, our money is too tight, we may be in an economic war with China and we're in real wars (against grassroots guerilla combatants -- who are virtually impossible to defeat) in Iraq and Afghanistan, with al Qaeda making a move to gain control of Pakistan (ergo; going nuclear). Meanwhile, Mexico looks like they're going to implode. As all this is going on, you have the politically difficult task of eliminating corruption on Wall St., when the criminals have the media in their back pocket.

I think that Obama's head essentially exploded during the post-election briefings.



posted on Mar, 18 2009 @ 01:21 PM
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Well that was a hell of a move right there?

Its almost straight up vertical...



posted on Mar, 18 2009 @ 01:26 PM
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I'll say. What the hell was that; like, a 3% upward swing in about five minutes?




posted on Mar, 18 2009 @ 01:29 PM
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TALF could be expanded...


March 18 (Bloomberg) -- The Obama administration is considering using a new Federal Reserve program designed to spur consumer lending to help remove distressed assets from banks' balance sheets, according to people familiar with the matter.

Officials may meld the Treasury's plan to set up private investment funds to buy frozen assets with the Fed program, known as the Term Asset-Backed Securities Loan Facility, the people said. The Federal Deposit Insurance Corp. may also get a wider role, the people said.

Treasury Secretary Timothy Geithner may use an array of approaches to maximize the likelihood of cleansing banks' balance sheets so they can start lending again. The next announcement, which may come as soon as this week, will be critical after Geithner's first unveiling of the strategy caused a sell-off in financial stocks.

"The markets are just getting increasingly nervous, the longer they wait to announce the plan," said Stephen Myrow, a former Treasury official in the Bush administration who helped create the TALF.

The TALF would provide loans to investors and agree to take illiquid debt as collateral, the people said. It would be used alongside the Treasury's planned public-private investment funds.


U.S. Federal Open Market Committee March 18th Statement: Text

[edit on 18-3-2009 by Hastobemoretolife]



posted on Mar, 18 2009 @ 01:29 PM
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Breaking news by the Fed today, they are doing some bold moves to keep the economy afloat I guess we are in really deep dodo when they are now taking incredible measure.

They are increasing their balance sheet and the news has propped the markets just now.

Well I be is some people that will take advantage of this last gesture coming from the Federal Reserve. 300B in long term treasury, buying out 750b in agency mortgage backed securities.

And from where all this money is coming from?



posted on Mar, 18 2009 @ 01:39 PM
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FOMC, expansion of agenday related purchases aimed at supporting mortgage lending housing,

How long this rally will last,

Inflation to remain subdued, risk remains for weaker growth,

Latest vote on policy actions were unanimous,

1.25T already be bought by the fed this year.

Are this efforts been conrdinated with other nations or this is only done by US alone.

That is the question.



posted on Mar, 18 2009 @ 01:42 PM
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Fed to Buy $300 Billion of Treasuries, Increase Other Purchases


March 18 (Bloomberg) -- The Federal Reserve said it will buy $300 billion in Treasury securities and increase its purchases of mortgage and agency debt in an effort to bolster housing and hasten the end of the recession.

"To provide greater support to mortgage lending and housing markets, the committee decided today to increase the size of the Federal Reserve's balance sheet further by purchasing up to an additional $750 billion of agency mortgage- backed securities," the Federal Open Market Committee said in a statement in Washington today. "Moreover, to help improve conditions in private credit markets, the committee decided to purchase up to $300 billion of longer-term Treasury securities over the next six months."

Chairman Ben S. Bernanke is becoming more aggressive after unemployment climbed to 8.1 percent and economists forecast the economy will shrink through the middle of the year. Fed officials also kept the benchmark interest rate at between zero and 0.25 percent. The central bank also said it will consider expanding the Term Asset-Backed Securities Loan Facility to include "other financial assets," the statement said.

The Fed added that it will "increase its purchases of agency debt this year by up to $100 billion to a total of up to $200 billion.

Federal Reserve Chairman Ben S. Bernanke is trying to prevent the credit contraction from deepening what already may be the worst recession in 60 years. The U.S. jobless rate jumped to the highest level in more than a quarter century last month. Industrial production fell 1.4 percent, the fourth consecutive decline, while factory capacity in use slumped to 70.9 percent, matching the lowest level on record.


All of this news sounds like backroom price fixing. Doesn't seem like the big boys want to take the losses like everybody else has too.

[edit on 18-3-2009 by Hastobemoretolife]



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