The Dow Is Down 145 Points - Is Wall Street Sensing No Debt Ceiling Deal?.......

[global1]

Is Wall Street reacting to the President's presser this a.m.? Are they sensing that both parties are farther apart than they thought?

[CleanGreenFuture]

1. No, I haven't been paying much attention today but my guess is that

they are reacting to the situation in Italy.

http://www.nytimes.com/2011/07/12/business/global/12euro.html

[marmar]

2. I think it's more panicked about so-called debt crises in Europe....

..... Italy is the current target.

[HopeHoops]

3. Will Batman and Robin survive? Will the Penguin get away?

[xchrom]

4. no. it's italy & debt contagion in europe. nt

[Javaman]

5. If there is no deal, expect the dow to fall off a cliff. nt

[Demeter]

6. It's Reality Peeping Through the Clouds of Obfuscation

[still_one]

7. Wall Street is bullshit. It went up the last month on nothing, and now it is looking for an excuse

to go down. Unemployment from last week, the debt ceiling talks, the greek situation, etc. etc. etc.

The companies that are doing well are multi-nationals. That is because these companies are using cheap labor from offshoring, therefore, good profits

[Andy823]

9. Yep

One week the economy looks great so price shot up, as does oil, when it goes up enough then the investors sell off stocks, and oil, the markets drop again to a low point where they can buy up cheap, then they manipulate prices "UP", sell again, make profits, and the cycle starts all over again! As the old saying goes "the rich get richer and the poor get poorer"!

[Canuckistanian]

8. Wall St. is nuts

Their motto is "Buy on rumor, sell on sheer hallucination"

[Davis_X_Machina]

10. 145 points in a 12,500 point index? Stochastic noise.

[Warpy]

11. No, Geithner shot his mouth off on one of the Sunday gasbag shows

and was crowing about how much tougher things are going to get.

[OwnedByFerrets]

12. No, they are reacting to Geitner's words from yesterday

WASHINGTON (AP) — Treasury Secretary Timothy Geithner (GYT’-nur) says many Americans will face hard times for a long time to come.

He says President Barack Obama rescued the United States from a second Great Depression and will keep working to strengthen the economy. But Geithner says will be some time before many people feel like the country is recovering.

[BOG PERSON]

13. for the fourth time in this thread: it probably has to do with anxiety over the eurozone

[adigal]

14. The NY Times says it is because of Italy

Not our country. of course. ;)