InfoAnda - Wall Street eyes holiday season with little to cheer

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Powerful cyclone leaves 15 dead in Bangladesh, India | 26 May 2009
Bosnia court indicts 3 Serbs over wartime killings | | 9 June 2010
Analysis: Nimble Asian rivals raid Nokia's emerging markets turf | | 7 June 2011

Obama team pitching budget, jobs plan on Hill | 2 February 2010

">Forum Views () ">Forum Replies ()

Read more with google mobile : Wall Street eyes holiday season with little to cheer

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Asia Pacific World Search Search: Wall Street eyes holiday season with little to cheer AFP - Sunday, November 23 NEW YORK (AFP) - - Wall Street enters the year-end holiday season this coming week with little to cheer about as the worst bear market in decades appears to be grinding on. While some say stocks have been beaten down to cheap levels, investors remain fearful that the worst is not yet over, fretting over a possible collapse of the US auto industry or more troubles for major banks. As a result, the cheer normally expected with the Thanksgiving Day holiday Thursday that traditionally opens the year-end holiday is noticeably absent. The Dow Jones Industrial Average and Nasdaq hit their lowest levels in over five years in the past week and the broad-market Standard & Poor's 500 fell to its weakest since 1997. Although the market ended Friday on a high note, with a big rally inspired by news that president-elect Barack Obama had chosen New York Federal Reserve chief Timothy Geithner as Treasury secretary, the losses for the week were still staggering. In the week to Friday, Dow index tumbled 5.31 percent to 8,046.42. The tech-heavy Nasdaq sank 8.74 percent to 1,384.35 and the broad-market Standard & Poor's 500 dropped 8.39 percent to 800.03. The past week was filled with glum economic news. US unemployment claims surged to a 16-year high while housing starts fell to the lowest levels on record. Consumer prices fell at a steep rate, raising worries about deflation, while the Federal Reserve slashed its economic outlook, acknowledging a likely recession well into next year. Citigroup shares plunged by some 50 percent, raising fears about the survival of one the US banking titans, and an anticipated bailout of the US auto sector was postponed in Congress, raising the specter of collapse. Yves Smith, analyst with the financial website Naked Capitalism, said a collapse of General Motors would be "a disaster of colossal proportions." "GM would be a massive bankruptcy. It is doubtful whether it could obtain enough (debtor) financing, which means it might be forced into a partial, perhaps a full liquidation. The ramifications are nightmarish." The stock market reflected those worries. "Stocks are down roughly 50 percent from their highs in the US, Canada and Europe, representing the worst bear market in the postwar period," said Sherry Cooper, chief economist at BMO Capital Markets. "No reasonable person is calling a bottom in stocks or the economy right now. Developed and emerging market economies are both moving deeper into recession." Fred Dickson, market strategist at DA Davidson & Co. said the market is "massively oversold," but that "investors continue to hold lots of cash watching and waiting for signs of stabilization in the stock market before committing some of it to new positions." "Evidence of a huge and growing global recession has caused investors to reassess overall the market valuation level," he said. Bob Dickey at RBC Wealth Management said that even if stocks have not yet hit bottom, this may not be far off, and urged investors to hang on to their shares. "After such a broad and deep drubbing it's likely that when a rally comes it will also be equally dramatic on the upside so selling now could be one of the worst exercises in poor market timing that an investor could do," he said. Linda Duessel at Federated Investors said the market breached key technical levels in the past week, with the S&P falling below 770 points, hurting confidence. Although some analysts say this could mean further selling, Duessel said "We simply don't think we're in a recession that much worse than the worst on record." Bue she added that "given the rapid decline of recent days and the potential for more forced selling by hedge funds, investors may want to stay on the sidelines until the dust settles." In a sign of the panic in the past week, the bond market soared to historic highs. The yield on the 10-year Treasury bond fell to 3.167 percent from 3.750 percent a week earlier, and then the 30-year Treasury bond tumbled to 3.663 percent against 4.230 percent. The lower yields reflect higher bond prices. In the coming week, investors will digest reports on existing and new US home sales and consumer confidence, and get at least some respite with the Thanksgiving holiday on Thursday. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Entertainment & Lifestyle Hollywood actors guild to seek strikeAP - 1 hour 23 minutes ago Punk musician Barker sues over SC plane crashAP - Saturday, November 22 'Spamalot' moves up its Broadway closingAP - Saturday, November 22 '13' set to close; 'American Buffalo' is undecidedAP - Saturday, November 22 FCC appeals Janet Jackson case to Supreme CourtAP - Saturday, November 22 Enlarge Photo File photo shows a trader wearing a Christmas hat in the New York Stock Exchange. Wall Street enters the year-end holiday season with little to cheer about as the worst bear market in decades appears to be grinding on with many fearful that the worst is not yet over. Most Popular – Entertainment Viewed New strain of deadly Ebola virus discovered Aussie mayor wins sexist 'award' for inviting ugly women to town Wall Street plunges again as panic spreads Somali pirates demand 25 million dollars for Saudi oil tanker Oil prices slump under $50 per barrel View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Saturday, 22 November 2008
Roadside bomb kills 2 civilians in Afghanistan
Sri Lanka: Troops capture rebel training camp
US raid kills Iraqi blamed in 2004 reservist death
Myanmar leader calls on country to back 'road map' to democracy
Wall Street eyes holiday season with little to cheer
Suspected US missile strike kills 5 in NW Pakistan
Iraq's parliament resumes debate on US pact
Russia threatens to cut off gas to Ukraine: report
Annan, Carter barred from Zimbabwe | International |
Iraq's prime minister, president in public quarrel
German HSH Nordbank given 30 bln euros in state guarantees
Islamists on trail of Somali pirates | International |
Over 200 narwhal trapped in Canadian ice
Tibetans decide to stick to Dalai Lama's Middle Way | International |
All options on the table for GM: report
N.Korea renews criticism on Seoul after U.N. measure | International |
Lame-duck US, Israeli leaders to meet a final time
2 anti-election protesters shot in Indian Kashmir
Grenade wounds 8 Thai protesters ahead of rally | International |
Reports: Nokia to start mobile service in Japan
Car showrooms see crowds, while dealers wary of possible cut in COE supply
Reporter for U.N. radio shot dead in eastern Congo | International |
Japan's Mitsubishi Motors to join downsizing trend: reports
Qantas takeoff aborted as damaged wing spotted
Reports: Nomura Holdings may hunt for new capital
China Tibet policymaker probed for state secret leak | International |
Myanmar calls for 'duty' to democracy after jailing 150 protesters
Nokia to launch own mobile phone service in Japan: report
American Chamber of Commerce organises volunteer event in S’pore
Two new infocomm learning centres for seniors opened
New Zealand stun Aussies in Rugby League World Cup final
Tibetan exiles stick with moderate China policy
Nepal's Buddha boy returns to jungle to meditate
200 Philippine villagers evacuated after landslide
Hollywood actors guild to seek strike
Suspected US missile strike kills 5 in NW Pakistan
New Zealand beat Australia in Rugby League World Cup final
Tibetan exiles agree to follow 'middle way'
Panda in China zoo bites student who wanted a hug
Healthcare costs not a problem during recession with S$42b in reserves
Reactions range from "timely" to "cautious" to slew of govt’s help measures
More 2 and 3 room HDB flats to be built in the next few months
Roadside bomb kills 2 civilians in Afghanistan
Sole Myanmar protester demands activists' release
Analogue cameras prove to be a hit among young S’poreans
Several thousand rally in support of Taiwan's Chen
Man tells Japanese police he stabbed bureaucrat
MTV launches African music awards
Bomb kills French soldier in Afghanistan
Thai military concerned protest could turn violent
Bush: Crisis recovery 'is going to take time'
Indonesia hit by strong quake
Terror plot mastermind killed by US missile in Pakistan
Grenade attack on Afghan wedding party kills 8
Bangladesh landmark polls delayed: official
Man tells Japanese police he stabbed bureaucrat
Strong quake hits Indonesia's Sumatra: USGS
Foreign Affairs Minister George Yeo meets Latin American heads in Peru
Downturn will not affect planning of Singapore’s policies on ageing
Jetliner plot suspect believed killed in Pakistan
Economy, not rights, rules the new China-US world
Blast kills French soldier in Afghanistan
Reactions to govt’s help measures range from "timely" to "cautious"
Waiting finally over for new Guns N' Roses opus
Electric cars and electronic trees at LA Auto Show
NY straphangers left twisting as city budget tanks
Hindu nationalists protest documentary at Goa film festival
More 2— and 3—room HDB flats to be built in the next few months
Indonesia hit by strong quake; no tsunami risk
Australia's Malouf wins new literary prize
Tibetan exiles stick with 'middle way' _ for now
Aussie F1 driver Webber breaks leg in cycling accident
Bush staunchly defends free trade in farewell
Malaysian Islamic body bans yoga for Muslims
Indonesia hit by strong quake; no tsunami
Car showrooms see crowds; dealers wary of possible COE quota cut
Man who says he killed ex-Japan official arrested
Man tells Japanese police he stabbed bureaucrat
All Blacks excise rugby Cardiff demons with victory over Wales
Qatar art museum aims to show Islam's true values
MTV holds its first African music awards
Hollywood actors guild asks members for strike authorization
Chilean film wins top award at Iberian-American film fest
'No concrete plan' for Google server farm in Austria: spokeswoman
Skrela rugby nightmare as Australia beat Franch
Israelis and Palestinians duel across Gaza border
Iraqi lawmakers vote on US security pact Wednesday
Spain's opposition slams Repsol sale to Russia's Lukoil
Asian, American leaders back free trade to ease crisis | International |
Iraq: Iranian detained by US has been released
Skrela nightmare hands Wallabies victory
Iran hangs man convicted of spying for Israel
Short-timer Bush has last meet with Russian leader | International |
Endeavour astronauts work on repairs on third spacewalk
Israel: Settlers to be evicted from Hebron house
45 years on, JFK killing haunts Secret Service protecting Obama
Leaders work on timing of N.Korea nuclear talks | International |
Iran raises profile in Latin America
Extra troops should go to border: Afghan FM
Seven die in Guatemala prison riot | International |
Dozens killed in new Afghan violence
Jetliner plot suspect believed killed in Pakistan
Afghan mine blast kills French soldier, wounds another: official
Germany declines comment on Kosovo spy report | International |
Indonesia bans Bank Century executives from traveling abroad
Tibetan exiles stick with 'middle way' _ for now
Defiant Congo rebels stage rally in captured town | International |
Strong quake strikes off Indonesia's Sumatra | International |
Vote on US-Iraq pact set for Wednesday after stormy debate
Bush hails Georgia's 'Rose Revolution'
Iraq to vote Wednesday on US forces pact
Bush blasts 'illegitimate' Mugabe
US teenager in apparent online suicide
Vatican forgives John Lennon for Jesus quip | Entertainment |
Actors union to seek strike authorization | Entertainment |
Hollywood actors guild asks members for strike authorization
Filipino World War II veterans seek US benefits
Thai military concerned protest could turn violent
Man who says he killed ex-Japan official arrested
Australia, Indonesia create disaster reduction centre
Strong quake, aftershocks hit Indonesia's Sumatra: seismologists
Bush bids farewell with impassioned 'freedom' plea
Japan, Russia vow 'concrete' steps to end island row
Tokyo police arrest man who says he killed former govt official
Tight security as second stage Kashmir elections begin
5 SKorean solders injured in grenade explosion
Tenor's Met Opera feat: 2 major roles in a day
China dismisses UN report on torture
Dalai Lama says Tibetan community facing 'great danger'
Financial crisis helps define Rudd in first year as Australian PM
Isle of Man resists growing pressure on tax havens
China rejects UN report on torture as 'untrue'
Asian, American leaders back free trade to ease crisis | International |
Slump in Europe spreads wider
"AWESOME!": YouTube goes live
Venezuelans vote in local election test for Chavez | International |
SKorean scientists claim to develop 'true blue' for OLED screen
Piracy pushes ship owners to opt for Cape of Good Hope
Japan scientists eye made-to-order bones
South Korea stands firm as tension rises with North | International |
Pakistan revives Afghan camps for its own people | International |
Thai protesters begin final battle against government | International |
British lawmakers demand clarity over terror suspect death
Seven die in Guatemala prison riot | International |
Obama's cabinet -- change or Clinton era retreads?
China protests against prejudiced U.N. torture report | International |
Afghan president: Obama promises to boost aid
Dismantling US military presence in Iraq looms as big task
Japan seeks China's contribution to IMF
Dalai Lama reaffirms middle way stance on China | International |
Australian rescuers free 11 whales after mass stranding
US military deaths in Iraq war at 4,203
Taiwan's 2009 per capita GNP to drop below 18,000 US dollars: report
Thai protesters vow final showdown with government
Japan ready to take more stimulus measures: minister
Dalai Lama warns of 'great danger' facing Tibetans
S.Korea officials say still have policy options
Philippine floods leave at least 6 dead
Curtain call for Bush as trade summit wraps
Tense Thailand prepares for parliament march
Property investors look East for hope amid economic crisis
Bangladesh to announce new polls date Sunday
S.Korea to meet investors on won bonds, economy
SKorea's central bank to inject money into bond fund: report
Vatican forgives John Lennon for Jesus quip | Entertainment |
Morocco film festival award goes to Russia's "Wild Field"
Is it 'Bye bye, Blackberry' for Obama?
Australians try to save 11 stranded whales
Karzai: Obama promises to fight terror in 'region'
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01