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- Fiat Sets Chrysler Back on Track; GM Strives to Go Green - 11 June 2009
- Searching For The Silver Lining - 9 March 2009
- Senate-Approved Bailout Plan Heads for House Vote - 2 October 2008
- Caution Called For In $700 Billion Bailout Plan - 23 September 2008
- Nasdaq OMX Release Impressive Second Quarter Results - 7 August 2008
- Thank Investment Banks for Warning You about Financial Accounting Standards Board Land Mines in Your Stocks - 27 may 2008
- Financial Planning for the Next Generation of Your Family - 7 April 2008
The U.S. auto industry has been under the spotlight for some months now, with bailouts, bankruptcy filings and major restructuring all receiving attention. Stock market investors have watched these developments with keen interest trying to gauge what effect government intervention will have on the industry, as well as all the related service and product suppliers that rely to a large extent on automakers for their continued existence.
Embattled Wall Street traders have been on the lookout for signs that the market is bottoming out, but as the weeks pass by with major indices reflecting an ever declining market, it appears that the question of “Are we there yet?” is becoming impossible to answer. Last week saw the Dow Jones industrial average falling 6.17 percent to end at 6,626.94, while the Standard & Poor’s 500 shed 7.03 percent to end at 683.38 and the Nasdaq composite lost 6.1 percent to close on Friday at 1,293.85. This means that both the Dow and S&P have plunged by around 24 percent, and Nasdaq by nearly 18 percent, since the beginning of 2009.
Following more than three hours of floor debate on Wednesday night, the Senate passed a revised version of the controversial $700 billion financial sector bailout plan, by a vote of 74 to 25. Both Presidential candidates, Senator John McCain and Senator Barack Obama, voted in favor of the plan that the House of Representatives must approve before it can be put into action. It is anticipated that the House will vote on Friday and proponents of the plan are optimistic that the vote will go their way.
Friday’s elated response at stock exchanges, to US Federal Government’s proposal to buy troubled assets from financial institutions was short-lived as reality set in with regard to the sheer magnitude of the problem, along with doubts as to whether a bailout would unfreeze the credit market, and concerns over the burden that the proposed $700 billion bailout would place on American taxpayers. Monday saw the Dow Jones Industrial Average drop by 372.75 points, with the S&P 500 losing 47.99 points and NASDAQ slipping by 94.92 points, being 3.3%, 3.8% and 4.2% respectively. Plagued by uncertainty with regard to the financial sector, money poured into gold and crude oil futures, resulting in a sharp spike in oil prices, and further volatility in the market.
On Wednesday, Nasdaq OMX Group released better than expected results for the second quarter with an 81 percent increase in quarterly profit. This, together with the news that management are pushing ahead with the integration of recent acquisitions, no doubt contributed to the 16.9 percent rise in Nasdaq share prices.
Do you know what Level 3 means? You could be in for stock market losses if you think the term refers to floors of a building. Level 3 is part of the rules of the Federal Accounting Standards Board. It gives license to executives to value assets any which way. You can use them to report non-cash profits. Just change a line in a balance sheet. Conjure earnings that do not exist. It is legal. Investors without connections cannot complain.
It is the most enduring feature of North American financial planning. The entire continent has seen liberal inward migration for the last 500 years. Even Aleutians have originally come across the Baring Straits. Every continent and race finds at least a nook in contemporary USA.
- Video: More Women Drinking Whiskey, Pernod Ricard CEO Says
- Friday 24 May 2013, 4:28 pm - Video: D.C. Gridlock Hurts Infrastructure, Lepatner Says
- Friday 24 May 2013, 3:25 pm - Video: Virginia Lacrosse Coach on Alumni Job Pipeline
- Friday 24 May 2013, 3:10 pm - Video: Instapundit: IP Laws Need to be "Pruned Back"
- Friday 24 May 2013, 1:30 pm - Video: Bridge Collapse in Washington Means Longer Commute
- Friday 24 May 2013, 1:22 pm - Video: FXCM CEO Says Currencies as Risky as Other Assets
- Friday 24 May 2013, 10:14 am
- Facebook Has Positive First Quarter
- Thursday 2 may 2013 - Features - Pre-Dispute Mandatory Arbitration Challenged
- Thursday 18 April 2013 - Markets - Solar Energy Surging Ahead as Alternative Energy Option
- Thursday 4 April 2013 - News - Foreclosed Homes Group Investment Booming
- Tuesday 19 March 2013 - News - Job Creation Boosts Dow
- Thursday 7 March 2013 - News - M&A Activity Benefits Investors
- Thursday 21 February 2013 - News


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