Market this Thur 11/1

ron · #1 (**permalink**) 11-01-2007, 02:27 PM

Dow, Naz and S&P have given up all of yesterday's gains and then some as the stock market has had a substantial decline in the early-going. All of the major indices are in the red due to broad-based selling pressure.

ron · #2 (**permalink**) 11-01-2007, 02:28 PM

the release October ISM Index, a survey of national manufacturing activity, dropped to 50.9, from a prior reading of 52.0. The number was also lower than consensus estimate of 51.5. A number above 50 is intended to indicate growth....also earlier we had the Core PCE Inflation reading of 0.2% and the weekly initial jobless claims reading of 327k......Economists were expecting the Core PCE Inflation to be 0.2% and the weekly initial jobless claims to be 330K.

ron · #3 (**permalink**) 11-01-2007, 02:34 PM

prrofit taking, rising oil prices, a CIBC assertion that the Citigroup (C) has a $30 billion capital shortfall, and a report from RealtyTrac that U.S. foreclosures increased in the third quarter by 30% seem to be the catalysts today for this dip with .....Dow -219 Points, Naz -35.92 rtq.....worth noting is that the majority of today’s earnings reports have beat estimates.

...well, walls is on the move again.

ron · #4 (**permalink**) 11-01-2007, 02:43 PM

only five of the 30 components in the Dow are currently showing gains, with Microsoft (MSFT 37.35, +0.53) providing leadership. Financial stocks are the largest drags on the Dow led by citigroup....Dow red 236, Naz -39.43 rtq.

ron · #5 (**permalink**) 11-01-2007, 02:56 PM

yesterday's Fed induced rally, prompted the stock market to open with substantial losses today, and has remained in the red throughout the session....Dow currently printing -248 Points, Naz -41.03....as a member this of stock forum still believe this decline is basically a bunch of nonsense...it seems walls will squeeze the subprime crunch excuse to infinity.