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

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posted on Apr, 3 2009 @ 03:22 PM
The DJIA closes in the green. Over 8,000 to boot!

I am speechless. Obviously some investors find value out there... I just don't know where they are looking - besides very short term.

posted on Apr, 3 2009 @ 03:28 PM
EURO 1.3489 ^
GBP 1.4836 ^
JPY 100.31 v
DXY 84.14 v
TNX 29.07 ^
Gold $891.20
Oil $52.39
United States 8017.59 39.51 0.49% 16:02
NASDAQ 1621.87 19.24 1.20% 16:23
Rus 2000 456.13 5.94 1.32% 16:06
S&P 500 842.50 8.12 0.97% 16:23
Gold & Silver 127.56 -6.85 -5.10% 16:09
PreMetals 257.31 -13.64 -5.03% 16:07
Gold GOX 150.79 -8.98 -5.62% 16:23
Gold Bugs 307.44 -20.87 -6.36% 16:23

AMEX Energy 461.18 8.43 1.86% 16:23
NYSE Energy 9049.19 96.30 1.08% 16:14
Oil Services 137.90 5.42 4.09% 16:09
AMEX Oil 911.27 7.60 0.84% 16:23
PHLX Semi. 251.04 7.16 2.94% 16:09
NASDAQ Fin. 1715.05 33.68 2.00% 16:24
NYSE Finance 3205.45 107.48 3.47% 16:14
NBI 671.42 -2.41 -0.36% 16:24
AMEX BioTec 624.64 -9.74 -1.53% 16:23
PHLX Drug 141.79 -2.72 -1.88% 16:09
Canada 9065.76 -7.38 -0.08% 16:24
Brazil 44394.31 657.86 1.50% 17:09
Mexico 20933.78 371.19 1.80% 15:00
Argentina 1196.97 62.36 5.50% 17:01
Chile 2550.59 15.08 0.59% 17:24
Peru 10161.58 381.05 3.90% 15:02
Colombia 8144.63 -26.05 -0.32% 13:00
Venezuela 43959.40 14.88 0.03% 14:00
Bermuda 2166.58 -131.05 -5.70% 16:16
Jamaica 78831.94 291.50 0.37% 13:58
Denmark 238.66 -6.95 -2.83% 17:21
Switzerland 5042.99 -135.54 -2.62% 17:31
Norway 209.01 -6.56 -3.04% 17:25
London 4029.67 -95.30 -2.31% 16:35

FedEx confirms 1,000 layoffs

FedEx Corp. has confirmed that the company has cut 1,000 jobs worldwide, including 500 in its headquarters city of Memphis, Tenn. The cuts include some at its plant in Winston-Salem, although the company would not say how many. Dell also cut an unknown number of jobs at the Winston-Salem plant in March

Company spokesman Jesse Bunn said the employees were “salaried exempt” professionals and managers. The laid off workers will be given severance packages, advance notice of job openings and career counseling.

“The decision was very difficult,” Bunn said. “As we said in March and in December, the global economic conditions are bad and continue to get worse. Actions like this are unavoidable.”

In mid-March, FedEx announced it planned to cut more jobs, reduce some workers’ hours and cut back on truck and jet capacity. That came after the company said its third quarter profits fell 75 percent to $97 million, or 31 cents per share.

In February, FedEx cut 900 positions at its FedEx Freight subsidiary citing continued decline in consumer spending and unprecedented pressures on the trucking industry.

Those cuts came just a month after FedEx announced in January that the shipping giant would slash its 2009 marketing budget by 25 percent.

FedEx officials had hoped to avoid layoffs and other cuts by trimming salaries.

FedEx CEO Fred Smith said in a statement in December that he would cut his own salary by 20 percent and other senior executives would take a 7.5-10 percent salary cut. U.S. salaried employees received a 5 percent cut.

Those cuts did not include hourly employees, such as package handlers, mechanics and pilots.

“We try and protect as many jobs as possible and strengthen the company so that we are prepared when the economy will rebound,” Bunn said. “In December, we announced a series of cost reductions and clearly those needed to be supplemented.”

FedEx (NYSE: FDX) said these cuts will help the company save $1 billion, along with job cuts across its FedEx Freight and FedEx Office divisions, a reduction of some workers' hours, elimination of certain bonuses and implementation of a hiring freeze.
Heh...better fill up yer gas tanks...

Texas Instruments sues banks over $524 million debt

Bailed-out banks may buy toxic assets: report

Pimco says stock rally vulnerable given data

NEW YORK (Reuters) - U.S. credit markets are not showing the same optimism on the economy as U.S. equities, suggesting that the recession will run far longer than most expect, Mohamed El-Erian, the chief executive of bond giant Pacific Investment Management Co., said on Friday.

"For the recent equity rally to continue, markets need a significant and sustained improvement in fundamentals that is unlikely to materialize given current data," El-Erian said in an interview.

Friday's release on the latest employment figures underscores his point, he said. U.S. employers slashed 663,000 jobs in March, lifting the unemployment rate to 8.5 percent, the highest since 1983.

"Unfortunately, the already worrisome employment picture continues to deteriorate," El-Erian said. "While the numbers are in line with Wall Street's expectation, persistently high monthly job losses and the accelerating rise in the unemployment rate will further dampen Main Street's consumption and animal spirits in an economy already facing considerable headwinds due to massive wealth destruction."

[edit on 4/3/2009 by Hx3_1963]

posted on Apr, 3 2009 @ 04:44 PM
Not many posts today my dears!

I still don't get the "green"today and guess many have asscess to those rose-colored glasses I lost.
I am just sitting by the dock of the bay watching the clouds roll away...not sure which way is up anymore,LOL!

Had to watch the "Maybe No. Korea" will launch missle tomorrow..." while doind cardio and it went downhill from there.

It's Bizarro-World,I tell 'ya!

posted on Apr, 3 2009 @ 04:48 PM
reply to post by irishchic

Yeah not to many posts today. I've been asleep all day enjoying the good weather in my part of Texas.

Know how you feel about bizarro world. Spoke to a few of my friends who are into the Market and they didnt believe me when I said we are just about ready for a good crash.

Think I'll go watch some odd school Spider Man cartoons for the heck of it and pretend everything is okay.

posted on Apr, 3 2009 @ 04:50 PM
reply to post by Hx3_1963

Care to share how reliable the source is about the number of bank closures over the next 4-6 weeks? Just how reliable do you feel the source is. That could be pretty extreme. To me that kind of news would scream Bank Holidays are to come.

posted on Apr, 3 2009 @ 04:51 PM
Interestingly, the G-20 is the source of this rally. It is also the advance promise of a 1.1 trillion dollar infusion to the IMF, and well as little publicized infusion to the World Bank. It's more false profits.

There is going to be a big, very disappointing crash in the next few weeks.

posted on Apr, 3 2009 @ 04:53 PM
reply to post by Tentickles

Gorgeous here in South Texas too after the WINDY day yesterday!

I'm chilln' all weekend and enjoying it because I still DO believe "something is coming..."You know when you "just know."

Spidey sounds good right about now although I'm Dark Knight sort of girl...he revels in his angst,LOLROF!

posted on Apr, 3 2009 @ 04:54 PM
reply to post by elston
The 34 Bank thingy was a rumor from...

This might have something to do with it???

Obama Bank Policy Signals $1 Trillion in Writedowns (Update1)

April 3 (Bloomberg) -- U.S. regulators may force Bank of America Corp., Citigroup Inc. and at least a dozen of the nation’s biggest financial institutions to write down as much as $1 trillion in loans, twice what they’ve already recorded, based on Federal Deposit Insurance Corp. auction data compiled by Bloomberg.

Banks failing Federal Reserve evaluations of loans this month may be ordered to make sales worth as little as 32 cents on the dollar, according to FDIC data. That would be less than half of the 84 cents on the dollar the Treasury Department suggested was a possible purchase price. Some of the bank- insurance agency’s auctions brought 0.02 cent on the dollar.

Lower valuations would lead to new writedowns and capital injections from the $134.5 billion remaining in the Troubled Asset Relief Program, Nobel Prize-winning economist Joseph Stiglitz said.

“The only way banks will sell is under duress,” the 66- year-old professor at Columbia University in New York said in a phone interview.

Asset sales are the latest step in President Barack Obama’s effort to restart the U.S. economy through the most costly rescue of the financial system in history. Treasury Secretary Timothy Geithner’s Legacy Loan Program and Legacy Securities Program together are targeted to start at $500 billion and may expand to $1 trillion.

posted on Apr, 3 2009 @ 04:58 PM
I can't even imagine what a downward spiral would do in todays times. Many people around me here in Chicago would not even know about it until the news interrupted their evenning programming. Even if the DOW went to 6000 and the S&P to 600 which would be severe in and of itself, most people around me would not react at all, all the while I'd be filling up my gas cans buying out the local store of scotch and heading out of the city.

Maybe I should watch 28 Days Later again and get some tips on how to deal with zombies after the SHTF.

posted on Apr, 3 2009 @ 05:00 PM
reply to post by Hx3_1963

Thanks. Karl seems to be a fairly reliable source. I wish we could get a list of banks that were succeptable. We keep a stash at Northern Community, so it would be nice to get a little Nostradamus forewarning.

posted on Apr, 3 2009 @ 05:00 PM
reply to post by Hx3_1963

More bullying by the government into the private sector. When will it stop!

Government is here to regulate not to dictate what we do in business.
That's a Dictatorship relationship.

I enjoy Spider Man for his hilarious banter when he's fighting the bad guys.

posted on Apr, 3 2009 @ 05:04 PM
Yep...Yep...Yep...Heh...but wait...there's more...

FHA program strained by record loan defaults
Bloomberg News / April 3, 2009

WASHINGTON - Federal Housing Administration mortgage-insurance programs are at risk as record home-loan defaults erode the government agency's reserves, the inspector general of the Housing and Urban Development Department said.

The agency has never been under more strain, as other sources for lenders to finance and insure mortgages have dried up and as policy makers create new FHA programs for riskier borrowers, Kenneth Donohue told a Senate Budget Committee panel on housing yesterday.

The FHA may not have the systems and infrastructure to "adequately perform" its duties, or take on new functions imposed by Congress, including insuring jumbo loans of as much as $729,750, Donohue said. The FHA accounted for about 70 percent of the market in the first quarter of this year, up from 21 percent a year earlier, according to Donohue.

"If Congress and the administration place more risk on FHA before the problems are solved, this powder keg could explode and taxpayers will be on the hook," said Senator Christopher "Kit" Bond, a Missouri Republican.

A record US mortgage default rate - now at 7.88 percent in Mortgage Bankers Association data - has eroded FHA's mortgage insurance fund, which has fallen by almost half to $12.9 billion from $21 billion, Donohue said. The loan insurance ratio, which measures the amount of reserves to the amount of loans insured, dropped to 3 percent from 6.4 percent a year ago. FHA is required to maintain a ratio of at least 2 percent.

"If more pessimistic assumptions are factored in, the ratio could dip below 2 percent in succeeding years, requiring an increase in premiums or congressional appropriation intervention to make up the shortfall," Donohue said.

To deal with the added demand, FHA has relaxed mortgage-broker licensing requirements, which Donohue says exposes the system to potential fraud. FHA approved 3,300 lenders in fiscal 2008 from 692 in 2006, Donohue said.

@ Elston: Try this...
Bank, Thrift and Credit Union Ratings

[edit on 4/3/2009 by Hx3_1963]

posted on Apr, 3 2009 @ 05:07 PM
reply to post by elston

Isn't it ODD??? I have had the same feeling: filled my truck earlier today and watched all the he-men with their boats and trailers icing down for the weekend and all the people shopping and doing nothing in particular and I had the weirdest "IS IT ME???" feeling that they just do NOT even begin to care.
Wish I could be so casual but I'm not wired that way I guess.

Which was the George Romero flick..."Day of the Dead?" The one where all the zombies go to the shopping mall because although they have no cognicent thought left,they had the "habit" of going there in their previously animated life and wandering aimlessly around for hours and thus still did likewise as zombies.

This is how it's starting to feel to me but as friend wisely reminded me that "They probably owe tons of money and honestly don't have a pot to p*** in so whay would they care???"
I do have things to lose.

AND,no doubt all those thousands in credit card debt they have charged will be "excused" when they stop making the payments,you KNOW many will default without a second thought and jeeze...we will have to "understand." Yeah,right.

I'm gonn'a be more like Rose McGowan in the "Grindhouse" (Tarrantino/Rodriguez flick) she was the stripper who when zombies ate her leg,they strapped a machine gun to it and she went on a spree,HAHAHA!

Not going down with a helluva' fight.

posted on Apr, 3 2009 @ 05:07 PM
In all seriousness, not everyone involved in the markets is stupid. Nor is everyone "in the know". So how can we possibly attribute the gain. I don't understand. It can't be possible for them all to be working together, so this must be spread over a wide band to put a bigger stake up. Or do you think people are wathcing the news and saying, "hey things are cheap."? They are saying that bank deposits are at a high right now. People are starting to head warnings and save. So if people are spending less, how are the markets going up. In addition, are you more at risk by putting more deposits in the bank or playing the market? They both seem like a gamble at this point.

posted on Apr, 3 2009 @ 05:07 PM
reply to post by Hx3_1963

Just wait you'll be hearing a lot more of these from all kinds of agencies this year.

I wonder what sector will be next?

Elston: Best bet is to buy gold and stick it in a fireproof safe.

[edit on 4/3/2009 by Tentickles]

posted on Apr, 3 2009 @ 05:12 PM
reply to post by elston

Good point!

I am staying "out" of the market because honestly,neither my 'puter or my brain is fast enough these days to day-trade,short,and play the games you have to in order to make a few dollars currently.
I am staying out of the banks because I am not convinced that "they" will not eventually find a way to freeze any assests currently being held,especially if a new currency or anarchy is introduced.
I return again to my thought of the "Ghostnet" and possible intrusions tech-wise into the banking sector hubs and the resulting "losses" they will claim due to hacking or other...POOF...up in smoke!

Planting my garden,drinking wine with friends,getting in killer shape and hoping for a better future for those I love!

I'm just not playing their frat-boy games anymore...I LOVED investing and was damn good at it for a while but don't want to risk losing anymore to my own ego and need to achieve,LOL!

Working instead on a dead-stance,wide-grip pullup.

[edit on 3-4-2009 by irishchic]

posted on Apr, 3 2009 @ 05:16 PM

Originally posted by irishchic
Not many posts today my dears!

I still don't get the "green"today and guess many have asscess to those rose-colored glasses I lost.

You see, we traders listen carefully to those at the top of the pyramid; those who really know what's going on, and can be trusted to tell it like it is...

&dist=msr_4]Credi t easing is working, Bernanke says MarketWatch - April 3, 2009

A brief trawl through Google News demonstrates that this man peers into the future with the piercing insight of a tasseographer:

RECESSION 'PROBABLY' OVER IN '09: BERNANKE New York Post - ‎Mar 16, 2009‎

Bernanke Expects Recession Over by End of 2009 Associated Content - March 16, 2009

Bernanke: Fannie, Freddie in no danger of failing FOXNews - Jul 17, 2008

Bernanke upbeat on economy WalesOnline - Jun 11, 2008

No recession, Bernanke says USA Today - Feb 15, 2008 (sadly, USATODAY deleted this exemplar of Bernanke's foresight)

Bernanke Foresees Growth; Further Rate Cuts Possible Washington Post - Feb 15, 2008

Fed chief sees rebound for economy by midyear McClatchy Washington Bureau - Feb 15, 2008

Bernanke: Economy Will Expand at 'Moderate Pace' FOXNews - Jul 18, 2007

Bernanke upbeat despite housing, inflation Investment News - Jun 5, 2007

Bernanke Believes Housing Mess Contained Market Scan - May 17, 2007

No recession talk here: Bernanke: Housing woes won't halt expansion Atlanta Journal-Constitution - Mar 29, 2007

Bernanke upbeat on economy Boston Globe - Feb 15, 2007

Wall St boosted by upbeat Bernanke The Australian - Nov 29, 2006

Bernanke optimistic on economy Washington Times - Feb 16, 2006

posted on Apr, 3 2009 @ 05:17 PM
Here's a nice page to look through...

Zero Hedge
$11.2 Billion Redeemed Last Week by Equity Mutual Funds

Lots of nice commentary on what's going on out there...

FX's looking up...but not for us...
Corn 404.50 2
Oats 199 1.50
Rice 12.78 0.15
Soybeans 995.50 18.50

posted on Apr, 3 2009 @ 05:18 PM
reply to post by irishchic

You know the mentality. When people are watching (insert your most hated reality show here) and then an emergency broadcast comes on about a tornado or other event, and people are pissed that they interrupted their favorite program.

For many I know it will hit them like a Mac truck when it happens. I don't understand how they can just not "pay attention" to what's going on around them. As long as they can get what they want from Target, the world is fine.

I still find a big part missing from this discussion is agriculture. I have been doing some alarming research after listenning to Jim Rogers and have found his information to be true. Look at prices and costs for farmers and I think that come this fall it will start to hit the shelves in regards as to what we are lacking. I would love to include some of that data here since it does concern the economy but don't want to go off on a tangent.

posted on Apr, 3 2009 @ 05:18 PM
reply to post by EvilAxis

I'm taking this as a joke Darlin',no offense meant if it's many times can one use "Bernanke" is a sentence???

Well done.

Well...some of the zombies are re-animating:

Activists Protest Near Wall Street

[edit on 3-4-2009 by irishchic]

[edit on 3-4-2009 by irishchic]

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