STOCK MARKET TO OPEN -100 points in first hour?

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GalvestonDuck
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#21 Postby GalvestonDuck » Mon May 17, 2004 1:30 pm

wx247 wrote:
GalvestonDuck wrote:News of the sarin seems to be sending it back up...for now.


Why would that send the market back up?? Just curious. It would make me nervous as in investor to the instability in the region.


I figure it makes sense for it to go back up, if even just for a short time, because the discovery of chemical weapons backs up one of the big arguments about us being in Iraq in the first place -- WMD's (even though some would argue just how massively destructive sarin is).

Things that are favorable in regards to how W is doing the job tend to make it go up. Things that shed an unfavorable light on his job tend to make it go down.

Of course, it's not really a positive thing (an attack with chemical weapons), but the outcome (no serious injuries and the discovery of the sarin without a major incident) is.
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#22 Postby yoda » Mon May 17, 2004 1:42 pm

2:40 EST

Dow 9,918.27 -94.60 (-0.94%)
Nasdaq 1,881.93 -22.32 (-1.17%)
S&P 500 1,085.75 -9.95 (-0.91%)
10-Yr Bond 4.706% -0.082
NYSE Volume 1,034,045,000
Nasdaq Volume 1,114,996,000


June Crude Oil Prices are at $41.45, as of 2 PM
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#23 Postby isobar » Mon May 17, 2004 1:44 pm

My husband manages a brokerage firm branch office, and he says the thing that's worse for the market than bad news is "uncertainty", whether it's economical, political, global, etc. By the time bad news is announced, the market usually has already reacted to it and begins to rebound. That's why it seems to defy all logic and makes us crazy.
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#24 Postby TexasStooge » Mon May 17, 2004 1:52 pm

DANG!! THis is worse than the opening!!!

As of 1:53PM CDT:

Dow 9,905.00 -107.87 (-1.08%)

Nasdaq 1,879.27 -24.98 (-1.31%)

S&P 500 1,084.64 -11.06 (-1.01%)

10-Yr Bond 4.706% -0.082

NYSE Volume 1,062,492,000

Nasdaq Volume 1,146,568,000

Quote data provided by Reuters
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#25 Postby Guest » Mon May 17, 2004 1:58 pm

I don't know much about the stock market, but a 1% loss doesn't seem that bad.
...Jennifer...
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Stephanie
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#26 Postby Stephanie » Mon May 17, 2004 2:26 pm

isobar wrote:My husband manages a brokerage firm branch office, and he says the thing that's worse for the market than bad news is "uncertainty", whether it's economical, political, global, etc. By the time bad news is announced, the market usually has already reacted to it and begins to rebound. That's why it seems to defy all logic and makes us crazy.


Exactly!

Jennifer - Actually, it isn't considering the news of the day so far. We've had 100 pt. drop days in the past (i.e. interest rate news) and then rebounded the next day or two afterwards. Now, if this trend continues... :eek:
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#27 Postby wx247 » Mon May 17, 2004 2:31 pm

-100 point drops are not that rare, but the fact that this drop comes on the heels of such an unstable situation in India makes it that more newsworthy. The thing is this... like Stephanie said... is this just one bad day or is this going to be a trend while India is so unsettled.
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#28 Postby Guest » Mon May 17, 2004 3:23 pm

Thanks for filling me in Steph and Garret. :)
...Jennifer...
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#29 Postby yoda » Mon May 17, 2004 4:17 pm

DOW IS DOWN TO 9905 for DAY...

CRUDE OIL NEAR $42 a BARREL
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#30 Postby wx247 » Mon May 17, 2004 4:25 pm

Thanks for the update Matt. We shall see what tomorrow brings now.
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#31 Postby Stephanie » Mon May 17, 2004 6:15 pm

I heard about the oil too Matt. :x

Is anyone in our government PAYING ATTENTION???
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