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Jan30
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The initial reaction was for stocks to jump, but at the end of the day stocks finished slightly lower. At 2:15 the FOMC announced an additional 50 basis point cut in the fed funds target rate. The market was initially euphoric, but a very late selloff spoiled the party. The Dow finished lower by 37, while the Nasdaq finished down by 9 points. The S&P 500 finished down 6.49, or 0.48%.  Financials were the market leader both to the up and downside this afternoon. In the initial surge they were the leader, but they also led the way lower at the close of the session. American International Group (NYSE:AIG) shares lost 4.34% on the day. Merrill Lynch (NYSE:MER) fell 2.42% and Bear Stearns (NYSE:BSC) lost 3.68% in today's trading. Prudential Financial (NYSE:PRU) lost 2.67% in today's session. Fannie Mae (NYSE:FNM) was weak the entire day, and finished lower by 5.59%. Energy stocks were also quite weak today, finishing near their lows of the session.The Chinese oil companies were particularly weak today. Petrochina (NYSE:PTR) plunged 4.04% on heavy volume and Sinopec (NYSE:SNP) shares plunged 6.22%. Baker Hughes (NYSE:BHI) shares plummeted 8.61% after a disappointing sales outlook worried investors. Transocean (NYSE:RIG) shares lost 2.64% on the session. Notable 52 Week Lows - Wyeth (NYSE:WYE) This big pharma stock lost 2.88% to hit a new low.
- Yahoo (Nasdaq:YHOO) Lost 8.55% on another disappointing earnings report and news of job cuts.
- Amylin (Nasdaq:AMLN) This once hot biotech company has come under significant pressure of later.
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Jan29
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Since tomorrow's monetary policy meeting has so much riding on it, I decided to put together a quick preview of what is expected and explain what the Federal Reserve's decision truly is. What's at stake in this monetary policy meeting? That...
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Jan28
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Stocks jumped today as investors hopes for additional rate cuts fueled fairly widespread buying. Though the Fed cut rates by 75 basis points last week, many believe that an additional cut is coming this Wednesday. Those rate cut hopes propelled...
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Jan27
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As a followup to tonight's first post regarding the weekly preview for economic data this week, let us now take a look at the earnings preview for the week ahead. Monday January 28thCorning (NYSE:GLW) Corning is a company that seems...
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Since this week is such a huge week for both economic data and earnings reports, I decided to split up the previews. First up let's take a look at the economic data that will be released this week. Monday January...
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With their 75 basis point rate cut last week the FOMC likely helped the economy in the long run, but they certainly didn't help the returns on certificates of deposits, money market accounts, or checking accounts. As soon as the...
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Jan24
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Today the details of the economic stimulus plan, aimed at stunting a possible recession, were revealed. The plan was designed by the congress and the President to go toward those who need it most as well as those who are...
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Today marked a second day of strength in the stock market as investors bid up stocks that they believed had been oversold in the recent market drubbing. The Dow was choppy throughout the day, but stayed mostly in positive territory,...
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Jan23
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The concept of the biggest losers becoming the biggest gainers and the biggest gainers becoming the laggards has hit full stride on the street in the last couple of days. Beginning yesterday with the Fed rate cuts and continuing into...
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Once again, an absolutely amazing day on wall street. To say that the street is volatile right now is a huge understatement. The day could very easily be split in half, with the first half of the day today belonging...
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Jan22
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The message has gotten out, the U.S. economy is weakening and fast. A few months ago financial junkies were talking all about it, but just in the last few weeks the economy has caught the full attention of main street...
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In what could only be described as a very unique and wild day, the stock market gapped lower at the open and then charged higher to cut its losses significantly by the end of the day. World markets plunged yesterday...
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Jan21
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The coming week on wall street will be a very quiet one from an economic data standpoint, but an extremely busy one for earnings reports. Earnings season kicks into full gear this week, and there are a whole lot of...
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It has been a while since our last edition of around the investment blogging world and I thought now was a great time to see what is being said about the current market situation. Around the investment blogging world gives...
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Jan20
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This post was something that hadn't been planned, but the recent dismal action of the stock markets all around the world had me thinking that this would certainly fit into our 2008 investment knowledge series. I want to look at...
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Jan19
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The beginning of 2008 has been horrible for the stock markets all around the world. The economic news is not encouraging and on the television every day all we hear is gloom and doom. I agree that the environment is...
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Jan17
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The big story of the day today was the Ben Bernanke testimony and whether he would provide some relief for our market. He didn't. Sure Bernanke said he supported a stimulus plan, but most economists believe that falls far short...
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Jan15
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So much for yesterday's strength in the stock market. Today the market was as jittery as ever as continued negative news from the financial sector made investors run for the exits. The Dow finished the day down 277 points. The...
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Jan14
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Stocks finished the day much higher after positive earnings news from IBM helped lead the major market averages into the green. The Dow gained 172 points on the day, and the broader S&P 500 gained 15. The Nasdaq was the...
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Today it was made official, the Fidelity Magellan Fund (FMAGX) is being re-opened to new investors. The fund had closed itself to new funds and outside investment commitments in 1997 due to rapid growth in new capital. Fidelity said today...
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Jan13
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As part of the 2008 investment knowledge series I thought it would be beneficial to create a checklist for individual investors. This checklist will provide investors with an idea of what kind of things they should be doing while investing...
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Jan10
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According to a person with knowledge of the discussions, Bank of America (NYSE:BAC) is in serious talks to acquire Countrywide Financial Corporation (NYSE:CFC). California-based Countrywide has been speculated to be in severe danger of being forced to declare bankruptcy. It has...
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Jan 9
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A website devoted to listing every foreclosure opportunity in the state of California, it is most certainly a sign of the times in the United States housing market. Foreclosureradar.com has a large amount of software and analysis tools that allows you...
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The stock market was extremely topsy turvy once again today as it has been all week. Stocks opened slightly higher, before the Dow fell by almost 100 by 2:15. It looked as if the stock market was headed to another...
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Jan 8
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The bears are taking control of the U.S. stock market, at least for now. Stocks plunged in the last hour and a half of trading. The Dow lost almost 300 points in just 90 minutes as investors frantically ran for...
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Jan 7
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It was a day with violent swings in the market, but it was a day where when all was said and done, there was little change. The Dow rose by as much as 84 points in the early morning hours,...
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Jan 6
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After a horrible first three trading days of the year, investors will look to this week to see if stocks can regain any footing. The economic data from last week was the primary cause of the tremendous selloff to start...
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Jan 5
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As another part of the 2008 investment knowledge series I wanted to post of eight things to remember when investing in 2008. We already looked at ten investing mistakes to avoid in 2008, so now its time to take a...
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The economy in the last couple quarters has been very changeable, with some parts of the economy showing strength and some areas experiencing severe downturns. The poster child of the weakest part of the economy has been the housing market,...
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Jan 4
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Stocks tumbled into the weekend as economic recession fears grew after the unemployment rate rose to its highest level since November 2005. The market started lower this morning and extended its losses throughout the day, finishing at its lowest levels...
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Jan 3
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Technology stocks get a lot of coverage on television as well as the web because a lot of investors have interest in technology stocks. Why do technology stocks get so much press? Quite frankly because technology is always a place...
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