Final DOW numbers today

[nadinbrzezinski]

Dow 11,843.09 -220.00 -1.82%

Nasdaq 2,406.09 -55.97 -2.27%

S&P 500 1,317.84 -24.99 -1.86%

10 Yr Bond(%) 4.1370% -0.0620

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Time for the duck tape

[grasswire]

1. thank you

I was just going to look for that.

[Eurobabe]

2. holy shit.

:yoiks:

[nadinbrzezinski]

6. Well I expect Bernacke to reach for the duct tape,

FAST...

I mean every time it does this he ACTS, just a little problem, he is running out of room, if not already did

[Eurobabe]

7. Why, to hang himself?

Jesus, thankfully we have our cash liquid. This is too much of a roller coaster for me.

[nadinbrzezinski]

8. Well 1929 comes so much to mind every day

and twice in the recent past

[TechBear_Seattle]

3. And unless a single day's drop is bigger than 3%, the sky isn't falling

Click here to see the Dow's performance over the last five years. See? The sky isn't falling.

And anyway, the Dow represents only 30 stocks and is not a good indicator of the overall financial market or national economy. Even a more representational index, such as the NASDAQ composite, only reflects investor confidence in corporations traded on the market and not the strength or weakness of the economy as a whole.

And in case you missed it the first few times: THE SKY ISN'T FALLING!

:hi:

[nadinbrzezinski]

5. I expected this one

tell me what has been the trend?

Ok it tends to play between 12K and 13K and in REAL value it hasn't gone up that much, if at all in the last two years

Go along to move along

[Pale Blue Dot]

9. You can't say we're about to go into a depression because of one day on the Dow,

just like you can't say that global warming exists because of one storm in the midwest. What you CAN do (in both cases) is examine all of the data: inflation of food and gas prices, massive personal and fiscal debt, accelerating unemployment, lack of liquidity in our banking institutions, drops in home values and drops in consumer's ability to spend.

When you take EVERYTHING into consideration, the sky sure as hell IS falling and the only thing left propping it up are those few who want to continue to believe that because this is America it can't happen here.

[Xenotime]

4. Good bye fucking economy. I wish we could just arrest everyone on wall street.

[jmowreader]

10. The stock market is a really bad indicator of the economy anyway

Example here is, of course, the Fortune 100 company I used to work for.

Company posts lower than expected sales figures for 1Q2005: stock drops.

Company posts higher than expected sales figures for the same period: stock drops because growth not "sustainable."

Company doesn't invest enough in new technology: stock drops because people are using computers that are older than they are.

Company invests $14 billion in new point of sale systems: stock drops even though it's a major tech investment, because the investors wanted to see a new back-end system.

Company upgrades the mainframes in 2000 stores, spending $18 billion to do so: stock drops because Wall Street thinks they should have migrated to Windows 2000-driven client-server systems.

Company takes on new product line and increases marketshare in high-end kitchen appliances from 6 percent to 9 percent: stock drops because there's no corresponding increase in appliance sales across the board.

Competitor opens 100 stores in last six months compared to Company's 80 stores: stock drops because Company is not growing as fast as Competitor. (Company still has twice as many stores as Competitor, though.)

NASCAR driver Company sponsors beat the shit out of three reporters and two fans: stock drops because Company should have better control over driver even though driver works for someone else's company.

Company fines NASCAR driver $50,000 as way of telling driver to get his shit together: Stock drops because Company is improperly attempting to control employees of other companies.

I have no idea what causes stock prices to go up. I know what makes them go down: Fuck it, it's Tuesday! Everyone dump stock!

[nadinbrzezinski]

11. I like to call it a TRAILING indicator

nevertheless Americans are influenced by the dow in their spending decisions

And what I mean by that is... they are the last ones to show a pattern, which we have now

[jmowreader]

12. Employment is also a trailing indicator

I've never understood how the Republicans have been able to sell the "tax cuts for the rich equal job growth" lie for as long as they have. Come on. You hire when your business volume requires more employees to get your point across. The only reason to do anticipatory hiring, which is what the GOP claims will happen if we only cut taxes on rich people to the bone, is if you KNOW you're about to get hit with a lot of business--retailers hiring seasonal staff the week before Thanksgiving come to mind.