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A DAY AFTER THE KILLER BLOW....
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by pankaj kumar | September 30, 2008 at 04:25 am
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Dowjones has done there job by trippleseven(777),Nasdaq(199) colour of index was red red and only red.....
Situation should have handled well lowmakers senate and white house created optimism and then what happend it i known to every body.
Who lost money lawmakers! senate and congress people!
It is tax payers money indirectly or directly .Value of the portfolio is getting eroded day by day and the poison is sheding throughout the globe.
This is sure the they are going to do bailout and other probable support to the institution but the play of time is worsening the situation ,here time is very important but polotics is playing there game.Peoples priority is vote not the resque.They are looking for their wone voters own territory and in this desastrous condition they are doing there wone disaster management......play of politics ........is once againnounced
PARIS (Reuters) - Stock index futures rose strongly on Tuesday, pointing to a tentative recovery from Wall Street's record slide in the previous session after U.S. lawmakers rejected a $700 billion financial sector rescue plan.
By 4:36 a.m. EDT, S&P 500 futures were up 2.7 percent, Dow Jones futures up 1.8 percent and Nasdaq 100 futures were up 2 percent.
After sinking by as much as 2.6 percent in early trade, European shares reversed course to turn slightly positive by mid-morning, with banking stocks trimming their losses.
"It's certainly my working assumption that there is some sort of agreement reached in the U.S. and based on that I would expect the market to recover quite strongly from yesterday's sell-off," said Darren Winder, equity strategist at Cazenove.
"It's a softish day. But equities are now getting to extreme valuations where fundamentally there is an awful lot of value."
Monday's turbulent market reaction increased the pressure on U.S. lawmakers quickly to give the green light to the bailout legislation and sparked expectations that the Federal Reserve would cut interest rates on or before its next meeting, which is scheduled for October 29.
"The rate option is now very much in play and Fed officials could cut or signal their intention to do so. A 50bp cut is now anticipated," Societe Generale analysts wrote in a note.
Fed fund futures showed a 68 percent probability of a 50 basis point cut in interest rates in October
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Most RecentMost Recommended Comments (4)
at 04:46 on September 30th, 2008
See, it's not so bad. Think some of those selling were just trying to stampede the lawmakers into approving the bailout scam. There were people actually screaming about the stock market on the floor of the House while the vote was going on. Scared a couple into changing their vote, but they changed them back to nays.
at 05:01 on September 30th, 2008
that is very important point, these marketers can go to any extreme to speculate and earn even in death bed.
at 05:06 on September 30th, 2008
pankaj kumar, Good Post.
at 08:22 on September 30th, 2008
$US is 1.4074 to $EU now. Yesterday it was 1.45. That is a large move. Aside from that, the ones who lost money yesterday are those who sold. Lesson: Buy the right stuff and never sell at a loss.