http://finance.yahoo.com/q/cp?s=^DJI this is a list of the 30 stocks that comprise the dow. Check out the names that are down by 5%+. This has officially become ugly.http://finance.yahoo.com/q/cp?s=^DJI Symbol Name Last Trade Change Volume AA ALCOA INC 6.85 4:01PM ET Down 1.31 (16.05%) 51,026,560 AXP AMER EXPRESS INC 17.23 4:01PM ET Down 1.51 (8.06%) 25,406,570 BA BOEING CO 37.11 4:01PM ET Down 0.37 (0.99%) 13,406,230 BAC BK OF AMERICA CP 11.25 4:01PM ET Down 1.81 (13.86%) 196,059,749 C CITIGROUP INC 4.71 4:01PM ET Down 1.69 (26.41%) 724,066,692 CAT CATERPILLAR INC 32.84 4:02PM ET Down 1.03 (3.04%) 19,826,136 CVX CHEVRON CORP 64.40 4:02PM ET Down 6.21 (8.79%) 34,194,940 DD DU PONT E I DE NEM 21.95 4:03PM ET Down 2.31 (9.52%) 20,927,962 DIS WALT DISNEY-DISNEY C 18.73 4:05PM ET Down 1.21 (6.07%) 26,922,802 GE GEN ELECTRIC CO 12.84 4:01PM ET Down 1.61 (11.14%) 235,115,325 GM GEN MOTORS 2.88 4:02PM ET Up 0.09 (3.23%) 108,901,623 HD HOME DEPOT INC 18.52 4:03PM ET Down 1.24 (6.28%) 32,829,091 HPQ HEWLETT PACKARD CO 31.83 4:01PM ET Down 1.20 (3.63%) 40,476,413 IBM INTL BUSINESS MACH 71.74 4:00PM ET Down 4.23 (5.57%) 17,634,837 INTC Intel Corporation 12.23 4:00PM ET Down 0.26 (2.08%) 114,052,929 JNJ JOHNSON AND JOHNS DC 55.81 4:02PM ET Down 2.31 (3.97%) 31,046,950 JPM JP MORGAN CHASE CO 23.38 4:03PM ET Down 5.09 (17.88%) 160,726,408 KFT KRAFT FOODS INC 24.87 4:00PM ET Down 1.12 (4.31%) 20,479,909 KO COCA COLA CO THE 41.07 4:01PM ET Down 1.20 (2.84%) 21,134,620 MCD MCDONALDS CP 52.91 4:03PM ET Down 2.53 (4.56%) 15,883,638 MMM 3M COMPANY 56.79 4:04PM ET Down 1.98 (3.37%) 11,517,116 MRK MERCK CO INC 23.56 4:04PM ET Down 1.75 (6.91%) 23,228,076 MSFT Microsoft Corporation 17.53 4:00PM ET Down 0.76 (4.16%) 139,527,079 PFE PFIZER INC 14.45 4:02PM ET Down 1.11 (7.13%) 91,063,102 PG PROCTER GAMBLE CO 59.33 4:01PM ET Down 2.94 (4.72%) 31,313,854 T AT&T INC. 24.51 4:02PM ET Down 0.72 (2.85%) 57,116,082 UTX UNITED TECH 43.22 4:00PM ET Down 2.77 (6.02%) 16,485,368 VZ VERIZON COMMUN 26.50 4:02PM ET Down 0.44 (1.63%) 30,243,060 WMT WAL MART STORES 50.66 4:01PM ET Down 0.34 (0.67%) 40,830,796 XOM EXXON MOBIL CP 68.51 4:01PM ET Down 4.91 (6.69%) 76,830,876 THESE ARE ONE DAY DROPS
A huge portion of our economy was a farce (the housing fiasco, credit and debt based consumerism, etc). It rode high for quite a while but the house of cards was destined to come down. It is going to be painful. Eventually, the public is going to realize what the government doesn't want them to know and what the stock market already knows....we can't bail our way out of this. It is going to have to run its course. About all we can do it provide a safety net for the public. I wish Obama luck for all our sakes.
Still though Alcoa aluminum is down very big. A company like that has to come back eventually, we will still need aluminum. And how about Pfizer and Merck? Year to date losses are incredible at some really solid companies. (that being said I am not buying yet).
A lot of stuff will come back. This is not the end of the world. It just may be the beginning of a bit different world. As with your suggestion about supporting the new technology automakers rather than the old economy big three, there could be opportunities for us to come out stronger for the long haul. What was going on was not sustainable.
I totally agree with this statement. It's been an inflated economy for years. Now it's settled back down into the 7 thousands and everyone is panicked. I'm thinking, it's very possible it's settled back down to what is actually a realistic level. It's possible this is the range the dow should be in at this point in time. A lot of people aren't gonna like it because they've been buying inflated stocks for a decade. But nobody's happy to take their gains and walk away. It's always going to get better and better. Well, I think this is going to be a lesson for a new generation. But, as volatile as things have been lately, it wouldn't surprise me one bit if it ended up gaining it all back in a years time, with no explanation. Who ever thought we'd see gas at 1.76 again? Let alone in less than 6 months time from 4.00?
Right. $1.76 per gallon. And now one is betting(backing, hedging) on oil, so the oil companies start to lose money. So the oil industry has to bounce back on its own. And it will. So if you think $150.00 was alot for a barrel of oil; wait until the new year. And the rise at the pump will be devastating to the public.
Call it the Obama Drop...utter lack of confidence in the market which has only heightened with the election of an inexperienced novice.
I am no Obama supporter but I think the problems with the market and the economy are much more based in reality and not what a President-elect may or may not do. The market is responding to wave after wave of real world bad economic news.
Most of it revolves around complicated financial instruments that involve buying on margin and then insuring these instruments without due diligence on the part of the insurance company. This was made possible by the republican deregulation frenzy. The Fanny and Freddie (getting mortgages for the poor) thing has very little to do with it. This falls squarely on the Republicans and Americans know it (that is why Obama won). If McCain won the markets would be much worse today.
This is another situation where there is plenty of blame to go around. Fannie and Freddie being pressured to make risky and outright bad loans happen certainly helped. As did the very existence of Fannie and Freddie as government entities. As did people thinking their houses were short term, high gain investments. As did people thinking their houses were credit cards. And, yes, the financial smoke and mirrors and, in my opinion, outright fraud is to blame too. This situation is way to interwoven and complicated to lay the blame at one party or one group of people. In my opinion, anyway.
The markets have been tumbling for a lot longer than Obama has been president elect David and not just in the USA but world wide, to try and blame any one person for this is totaly stupid, it is a cullmination of a number of events. Did you know that they traded these (What we now call) Toxic debts on the world markets? that is one of the reasons for the fall a number of large companies bought them up like candy (Not just US Debts)
The markets indicate confidence in the economy 6-12 mos down the road and what happens in the US has ripple affects around the world.
Obama has little or nothing to do with the economy. He is NOT in power. It is presumptive that he will be in power in another 60 days, but until then the doofus in chief is the power.
Let me say it slower- Market performance today is a reflection of confidence in the economy down the road...in 3, 6, 12 months time. My broker has certainly cautioned me about market prospects in the near future.
David the markets have been going down hill for the past year if not longer! so by your theory this lays the blame directly at the door of the current administration and not Obama, I honestly dont think even you can try and spin this one to lay it at his door. In reality the Banks and large investment firm overxtended themselfs without having the required capital in reserve in the event of a decline in the market. These things have a habit of going in cycles
Markets also react. Why do you think they dump every time another report of unemployment or consumer spending or whatever comes out?
