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  • Job Loss Slow Down Encourages Investors as They Look to the Week Ahead - 8 June 2009
  • Friday saw the Dow Jones industrial average edge higher, gaining 12.89 points (0.15 percent) to an unofficial close of 8,763.13, while the Standard & Poor’s 500 dropped 2.37 points (0.25 percent), ending the day at an unofficial 8,763.13, and the Nasdaq Composite closing virtually static. This is the eleventh out of thirteen weeks that the Dow has ended on a higher note and one of the reasons cited for this continued rally was the slowing pace of job losses as reported by the Labor Department on Friday. Employers cut 504,000 jobs in April and analysts were forecasting a job loss figure of 520,000 for May, so when the job loss figure was reported as 345,000 for the month of May, it came as a pleasant surprise to stock market traders. There is no denying that this is still a huge number of job losses and far from the desired scenario of flat job loss figures, it nevertheless indicates that, while things are still bad, they are "less worse" – a term commonly used in financial circles today.

  • Continued Job Losses Impact on Wall Street – Will Green Industries Save The Day? - 4 June 2009
  • With U.S. economic data revealing continued extensive job losses and a decline in mortgage applications, along with a worse than expected increase in factory orders, Wednesday saw investors locking down on profits garnered in the last four upbeat stock market trading sessions. Major stock market indexes had declined by close of business on Wednesday with the Dow Jones industrial average losing 64.04 points to close at 8,676.83, the Nasdaq composite dropping 10.88 points to 1,825.92 and the broad-based Standard & Poor’s 500 experiencing losses across all sectors and shedding 12.77 points to a provisional close of 931.97, being 0.73 percent, 0.59 percent and 1.35 percent respectively.

  • Manufacturing Data Boosts Markets Despite Impending GM Bankruptcy - 1 June 2009
  • All major stock market indexes gained more than 1 percent on Friday, ending the week, and the month, on a high and clinching a third month in a row rally on Wall Street. Ahead of markets opening on Monday the Dow Jones industrial average futures rose 1.4 percent, or 121 points, to 8,609, while the Standard & Poor’s 500 index futures rose 1.7 percent, or 15.30 points to 933.40, and Nasdaq 100 index futures climbed 1.4 percent, or 20 points, to 1,455.50. This surge of optimism appears to be as a result of encouraging survey data on manufacturing industries in Europe and Asia, fuelling hopes that the global economy may be turning around and heading toward recovery. Investors anticipate a similarly encouraging survey on the United States manufacturing industry to be released late Monday morning. Although analysts are forecasting the Institute for Supply Management's purchasing managers' index to rise to 42.0 from the 40.1 reported in April, which is still considered to be a contraction, the European and Asian reports have given investors hope that Monday’s report will be better than forecast.

  • GM Bankruptcy Appears Inevitable Following Failure to Strike Deal With Bondholders - 28 may 2009
  • A sharp rise in Treasury yields and the seemingly inevitable bankruptcy of General Motors were contributing factors to stocks falling on Wednesday, with the Dow Jones industrial average falling 173 points, the Standard & Poor’s 500 shedding 17 points and the Nasdaq composite dropping 19 points, representing a decline of 2 percent, 1.9 percent and 1.1 percent respectively. Wall Street had rallied on Tuesday on the strength of an optimistic reading on consumer confidence. However Tuesday’s gains were wiped out in Wednesday’s slump, but analysts generally agree that this is to be expected as investors await more concrete evidence that the so-called “green shoots” of economic recovery are developing.

  • How Evident Are The “Green Shoots” of Economic Recovery? - 25 may 2009
  • Following a day of choppy trade on Wall Street, a late in the day sell off resulted in major indexes closing the day slightly lower. While there was no major economic news to account for the sell off, a general feeling of concern about the state of the U.S. government’s economic health persisted among stock market traders following a warning by Standard & Poor that Britain was in danger of losing its long-standing triple-A debt rating. Risk management company Moodys has however noted that the U.S. government’s triple-A rating is currently not at risk, which may go some way to restoring investor confidence.

  • Wall Street Slumps on Fed’s Gloomy Forecasts - 21 may 2009
  • Wednesday on Wall Street was off to a promising start as stocks surged in response to the news that Bank of America"s sale of 1.25 billion shares of stock had raised $13.47 billion, fueling investor hopes that the financial sector is in the process of stabilizing. The results of the government's bank stress test revealed that Bank of America would need $33.9 billion to protect it against losses in the event of the economy worsening. While $13.47 billion is far short of the stress test amount, the bank’s ability to raise that amount of cash nevertheless puts it on a steadier footing to cope with the rising rate of consumers defaulting on loan payments.

  • Wall Street Dealt a Blow by Dismal Retail Results - 14 may 2009
  • Dismal retail results and rising foreclosure numbers dealt Wall Street a blow on Wednesday, with the Dow Jones Industrial Average ending the day down 2.18 percent, the Standard & Poor’s 500 losing 2.69 percent and the Nasdaq Composite dropping 3.01 percent. The next two days will determine whether the markets will recover sufficiently to end the week on a positive note. Having rallied since hitting an early March low, Wall Street traders were optimistic that the rally would be extended into this week. This optimism was based on a string of economic reports that exceeded expectations, as well as indications that some of the nation’s largest banks may be turning around and have weathered the financial crisis storm.

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