Today, March 6, 2009, all eyes are on the employment report ( or in this case unemployment report ) that will be released at 8:30am est. Estimates are for the US to have lost 650,000 jobs in February 2009. The unemployment rate is thought to have spiked to 7.9% Anything less would rally the market, anything more could still rally the market but if its over 750,000 we might have some problems. I will list the jobs report data here when the numbers are released.
Jobs Report 3/6/09
Jobs Number - ( Loss of 651,000 )
Unemployment Rate - 8.1%
January Revision - ( was -598,000 Now -655,000 ) December Revision ( was - 577,000 Now -681,000 )
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Showing posts with label stock market events. Show all posts
Showing posts with label stock market events. Show all posts
Friday, March 6, 2009
Thursday, March 5, 2009
Stock Market 3/5/09 March 5, 2009 Wall Street Report
Today, 3/5/09, the stock market futures are indicated lower after the quick sell off at the close yesterday. This has happened during the the past 4 trading sessions. That final 15 minutes can be brutal. Oil prices are falling to around $44 as Gold prices are rising to $916. The following news is the reason the stock market will be down today.
Wall Street Report - 3/5/09
General Motors ( GM ) - GM auditors raise doubts on automaker's viability, GM auditors cite losses, lack of cash flow in raising doubts about its viability.
General Motors Corp.'s auditors have raised "substantial doubt" about the troubled automakers ability to continue operations. The company revealed the concerns, raised by the accounting firm Deloitte & Touche LLP, in its annual report filed on Thursday. Full Article
General Electric ( GE ) - Keith Sherin CFO was on CNBC this morning and said the selling due to the potential capital risk is overdone. " There are no triggers that would put sudden strain on cash position. "
- GE Capital will be profitable during the first quarter
- Only 2% of GE capital is subject to mark to market
General Electric shares have tanked over the past several weeks on fears of a rating downgrade. Yesterday, Bill Gross talked about what he thinks is going on.
Also, if GE stock would fall below $5, most Mutual Funds would be forced to sell due to the fact that they don't holds stocks under $5. You saw this happen to Citi and B of A stock.
Other factors causing today's stock market plunge are the bank stocks. BAC and HSBC are both significantly lower in pre market trading.
Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Baltic Dry Index
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Wall Street Report - 3/5/09
General Motors ( GM ) - GM auditors raise doubts on automaker's viability, GM auditors cite losses, lack of cash flow in raising doubts about its viability.
General Motors Corp.'s auditors have raised "substantial doubt" about the troubled automakers ability to continue operations. The company revealed the concerns, raised by the accounting firm Deloitte & Touche LLP, in its annual report filed on Thursday. Full Article
General Electric ( GE ) - Keith Sherin CFO was on CNBC this morning and said the selling due to the potential capital risk is overdone. " There are no triggers that would put sudden strain on cash position. "
- GE Capital will be profitable during the first quarter
- Only 2% of GE capital is subject to mark to market
General Electric shares have tanked over the past several weeks on fears of a rating downgrade. Yesterday, Bill Gross talked about what he thinks is going on.
Also, if GE stock would fall below $5, most Mutual Funds would be forced to sell due to the fact that they don't holds stocks under $5. You saw this happen to Citi and B of A stock.
Other factors causing today's stock market plunge are the bank stocks. BAC and HSBC are both significantly lower in pre market trading.
Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Baltic Dry Index
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Wednesday, March 4, 2009
Stock Market 3/4/09 March 4, 2009 Dow Jones Report
Today, 3/4/09, the stock market futures are indicated higher after the quick sell off at the close yesterday. Oil is really spiking this morning and gold prices are slightly higher.
Last night, there were two companies the the tech sector that disappointed.
- Google Inc. (GOOG) Chief Executive Eric Schmidt said Tuesday the economic situation is "pretty dire," adding that he does not expect to see improvement until 2010
.
"Everyone is assuming 2009 is a tough, tough year. Schmidt struck an optimistic note when discussing Google's opportunities in the mobile search and display advertising businesses. He predicted that mobile search ad revenues would surpass PC-based paid search sales with a "few years," as opposed to a few decades.
Schmidt pointed to Japan as a leading mobile market in which Google has established partnerships with two of the top three mobile providers. He said the company is now attempting to replicate those types of deals, with the "obvious prize" in China.
- Palm Inc. (PALM) warned that its fiscal third-quarter sales would be well below Wall Street expectations, illustrating the rapid decline of its aging product portfolio.
With no new products hitting the market, few were expecting much until the launch of its Palm Pre later this year. But no Wall Street analyst anticipated such a dire performance.
"The much-anticipated launch of the Palm Pre remains on track for the first half of calendar year 2009, but as expected we've got a difficult transition period to work through," said Palm President and Chief Executive Ed Colligan.
If the Nasdaq breaks the 1295 low, it could get really ugly. Just look what happened when the Dow broke 7449 and S&P 500 broke 741.
Check out my technical analysis of the stock market for support levels and resistance levels.
Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Baltic Dry Index
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Last night, there were two companies the the tech sector that disappointed.
- Google Inc. (GOOG) Chief Executive Eric Schmidt said Tuesday the economic situation is "pretty dire," adding that he does not expect to see improvement until 2010
.
"Everyone is assuming 2009 is a tough, tough year. Schmidt struck an optimistic note when discussing Google's opportunities in the mobile search and display advertising businesses. He predicted that mobile search ad revenues would surpass PC-based paid search sales with a "few years," as opposed to a few decades.
Schmidt pointed to Japan as a leading mobile market in which Google has established partnerships with two of the top three mobile providers. He said the company is now attempting to replicate those types of deals, with the "obvious prize" in China.
- Palm Inc. (PALM) warned that its fiscal third-quarter sales would be well below Wall Street expectations, illustrating the rapid decline of its aging product portfolio.
With no new products hitting the market, few were expecting much until the launch of its Palm Pre later this year. But no Wall Street analyst anticipated such a dire performance.
"The much-anticipated launch of the Palm Pre remains on track for the first half of calendar year 2009, but as expected we've got a difficult transition period to work through," said Palm President and Chief Executive Ed Colligan.
If the Nasdaq breaks the 1295 low, it could get really ugly. Just look what happened when the Dow broke 7449 and S&P 500 broke 741.
Check out my technical analysis of the stock market for support levels and resistance levels.
Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Baltic Dry Index
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Tuesday, March 3, 2009
Stock Market 3/3/09 March 3, 2009 Dow Jones Report
The Stock Market Futures are indicated higher in pre market today, March 3rd, 2009. After Asian Market hit fresh lows last night they began to bounce. The Nikkei 225 index was only down 50 points. The Reserve Bank of Australia was expected to slash interest rates but they ended up keeping rates the same. This is viewed as very good news for the world markets, or atleast down in Australia.
Pre Market so far indicates that bank stocks are going to get a bounce today. Citigroup is back to $1.34 Up 11% and Bank of America is up 5%. Keep in mind, this can all change very quickly!
This afternoon Auto Sales come out for the big 4 auto makers which includes Toyota. Sales are supposed to be horrible but for the most part they are already priced in.
Gold is falling again to support of around $925, the next support level for Gold Prices would be around the 875 area. Oil is rising to around $41 after falling hard yesterday. Oil was actually trading around $39.50 last night at one point.
The biggest events besides auto sales today will be separate hearings, in Washington, from Timothy Geithner and Ben Bernanke. The market could move on things that they say or new information revealed.
Check out my technical analysis of the stock market for support levels and resistance levels.
Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Baltic Dry Index
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Pre Market so far indicates that bank stocks are going to get a bounce today. Citigroup is back to $1.34 Up 11% and Bank of America is up 5%. Keep in mind, this can all change very quickly!
This afternoon Auto Sales come out for the big 4 auto makers which includes Toyota. Sales are supposed to be horrible but for the most part they are already priced in.
Gold is falling again to support of around $925, the next support level for Gold Prices would be around the 875 area. Oil is rising to around $41 after falling hard yesterday. Oil was actually trading around $39.50 last night at one point.
The biggest events besides auto sales today will be separate hearings, in Washington, from Timothy Geithner and Ben Bernanke. The market could move on things that they say or new information revealed.
Check out my technical analysis of the stock market for support levels and resistance levels.
Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Baltic Dry Index
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
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