This Blog is also available as an
RSS Feed
Markets
- Markets Rally – But Killjoy Analysts Warn that the Bad Times are Not Yet Over - Editor, 18 July 2008 - No Comments yet
- Is IndyMac Failure a Harbinger of Doom? - Editor, 15 July 2008 - No Comments yet
- Electronic Trading – Moving Ahead With the Times - Editor, 10 July 2008 - No Comments yet
- How Long Will the Bear be in Town? - Editor, 7 July 2008 - No Comments yet
- 2008 Second Quarter Results Indicate Tough Times Not Over - Editor, 1 July 2008 - No Comments yet
- NYSE Euronext Enters Middle East Market - Editor, 26 June 2008 - No Comments yet
- NASDAQ OMX Group – Making All the Right Moves - Editor, 24 June 2008 - No Comments yet
Just when investors were starting to think that there would be no end to the downward spiral on the stock markets, concerns with regard to the U.S. economy and financial system eased up a bit in the past two days. This had a marked positive effect on global stock markets, as did the unexpected fall in oil prices. Moreover, solid results for some U.S. banks helped to stem the flow of negativity, while the announcement by the International Monetary Fund (IMF) that its 2008 global growth forecast has been adjusted to 4.1 percent from 3.7 percent added to the positive tone.
Although there are a number of factors that led to IndyMac’s failure on Friday 11 July, some regulators are laying the blame squarely at the feet of Senator Chuck Schumer. In late June, the New York Democrat released a letter which set out reasons why IndyMac might fail. This sparked panic among IndyMac customers who rushed to withdraw their money from the bank. Over the following eleven days the withdrawals mounted up to $1.3 billion, forcing IndyMac’s closure. The Federal Deposit Insurance Corp (FDIC) stepped in and re-opened the bank on Monday 14 July, as IndyMac Federal Bank.
The past few years have seen rapid advances in technology, which has in turn brought about significant changes in the way stock exchanges operate. Electronic trading has to a great extent taken over traditional stock market trading, which is understandable when considering that a computer generated transaction takes place in nanoseconds.
In a US stock exchange trading week that was cut short by 4th of July celebrations, investors were coming to terms with the fact that a bear market has officially arrived. It is commonly accepted in investment circles that a 20 percent drop from the highs in the market, as measured by the Dow Jones Industrial Average, Nasdaq and S&P’s indices, is confirmation of a bear market.
With the second half of 2008 looming ahead, the general feeling among stock market investors and financial analysts is anything but optimistic. Following a nerve-racking first quarter, the second quarter of 2008 started off with many investors believing that the worst was over and that earnings growth and stocks would pick up as the year progressed. These high hopes were dealt a death blow as the effects of the credit crisis lingered, oil prices soared, inflation worries persisted and consumers continued to curb their spending.
Transatlantic stock exchange giant, NYSE Euronext, has surged ahead in its quest to gain ground as a truly global stock exchange by buying a 25 percent stake in the State of Qatar’s Doha securities market. A $250 million cash payment will seal the deal, giving NYSE Euronext a firm foothold in the fast-growing economy of the Middle East.
NASDAQ OMX Group’s U.S. and Nordic stock exchanges consolidated market performance statistics for the month of May 2008 were released on 23 June. Following the successful NASDAQ bid to buy the Swedish stock exchange OMX, the deal was finally completed on 27 February 2008, with the company now going by the name of NASDAQ OMX Group, Inc. As an American public company, NASDAQ OMX Group operates the New York based NASDAQ stock exchange, as well as eight OMX stock exchanges located in the Nordic and Baltic regions.
Recent Videos
- Video: Most Expensive Cities in 2008 - Thursday 24 July 2008, 9:56 pm
- Video: Spotlight: Qualcomm (Part 2) - Thursday 24 July 2008, 9:45 pm
- Video: Spotlight: Qualcomm (Part 1) - Thursday 24 July 2008, 9:38 pm
- Video: Sector to Watch: Financials - Thursday 24 July 2008, 9:33 pm
- Video: Final Word - Stock Focus: Terex - Thursday 24 July 2008, 9:30 pm
Recent Articles
- Is IndyMac Failure a Harbinger of Doom? - Editor, Tuesday 15 July 2008
- Electronic Trading – Moving Ahead With the Times - Editor, Thursday 10 July 2008
- How Long Will the Bear be in Town? - Editor, Monday 7 July 2008
- 2008 Second Quarter Results Indicate Tough Times Not Over - Editor, Tuesday 1 July 2008
- NYSE Euronext Enters Middle East Market - Editor, Thursday 26 June 2008
Recent Comments
- 29 April 2008, 03:23 am: By Dhan - Take This Financial Planning Gift Horse...
- 25 April 2008, 12:58 am: By asiaconsult - The ‘No Comment’ Clue to Mortgage...
- 24 April 2008, 02:21 am: By Investa - How Your Financial Planning Can Benefit...
- 23 April 2008, 04:56 am: By Mint - A Stock on Which You Can Bank










