Thread: Market News

Originally Posted by weatherweenie

08:59 am : S&P futures vs fair value: -15.20. Nasdaq futures vs fair value: -12.30. Nasdaq futures climb to session highs after Microsoft announced an additional $40 billion share repurchase program and raised its quarterly dividend by 18% to $0.13 per share. MSFT is up 5.3% in premarket trading. Morgan Stanley (MS) is up 14% after Tokyo-based Mitsubishi UFJ Financial Group said it plans to buy between 10% and 20% of MS common stock, according to Reuters

Microsoft buying back, Nike buying back, HP buying back....hmmmm consolidation will run rampant with the stock prices..... Even the companies know it's time to buy cheap right now...

Still pretty much of a "dog chow" day.

I hate days like this.

I'm going to go sit on my porch for the next hour and listen to the rain...nothing better to do.

Originally Posted by Birchtree

I'm going to go sit on my porch for the next hour and listen to the rain...nothing better to do.

Yep, I'm out of here too. Profit taking, consolidation, unwinding of positions, what ever you want to call it, it is wearing me thin. No good deals out there so far. I need volatility!

[BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -11.30. Futures slip to their session lows. In Fed Chairman Ben Bernanke's prepared statement to the Senate Banking Committee, Bernanke said "If financial conditions fail to improve for a protracted period, the implications for the broader economy could be quite adverse." Bernanke added that the Fed supports the Treasury's proposal to buy illiquid assets from financial institutions.

Headline on yahoo:
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"What if the $700 Billion plan doesn't work?"

Lawmakers raised doubts Monday about what would be the largest government bailout in American history, but a bigger, more terrifying question lurked right under the surface: What if it doesn’t work?


Failure, says one insider, is not an option.

“The alternative is complete financial Armageddon and a great depression,” said a former Federal Reserve official. “Where do they go after this? Well, the U.S. government could nationalize the banking system outright.”

A few months ago, that idea would have been laughed out of the room.

But no one’s laughing anymore.

(more on Yahoo)
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Interesting thought.

Now .. live streaming Senate BAnking Cmtt.... Internet C-Span

The box, when eaten with warm milk, may have some nutritional value.

Home prices fell 5.3 pct in July, gov't says
Tuesday September 23, 11:29 am ET
By Alan Zibel, AP Business Writer Home prices fell in July, but gov't agency says Fannie, Freddie takeover will help loan market
WASHINGTON (AP) -- Nationwide home prices in July fell a record 5.3 percent compared with a year ago, a government agency said Tuesday, and have now receded to October 2005 levels. Prices were down 0.6 percent from June on a seasonally adjusted basis, according to the Federal Housing Finance Agency.

http://biz.yahoo.com/ap/080923/housing.html

Berkshire buying $5 billion stake in Goldman Sachs
Tuesday September 23, 6:10 pm ET
By Anna Jo Bratton, Associated Press Writer Buffett's Berkshire buying at least $5 billion stake in Goldman Sachs in private offering

http://biz.yahoo.com/ap/080923/goldm...berkshire.html