PotNoodle Posted March 2, 2009 Share Posted March 2, 2009 From Digital Look (needs a password) LONDON (ShareCast) - US stocks are set to fall further from the 12 year lows seen for both the Dow and S&P 500 last week. Investors are reeling this morning from the news that collapsed insurer AIG is to receive another $30bn from the US government after posting a fourth quarter loss of $61.7bn, the worst company figures ever recorded for the last three months of a financial year. The US government is to take control of AIG's two largest businesses, with what's left likely to be sold off as and when buyers can be found. Markets were already unsettled by the huge cash call from HSBC, which is also closing its US consumer lending businesses Household and Beneficial. The dividend is also being cut. Profits for the full-year slumped to $5.7bn, down 70% from 2007. Warren Buffett's Berkshire Hathaway also faces a tough day after it reported the worst results in 44 years with Berkshire's net worth in 2008 down by $11.5bn. US futures point to a more than 130 point fall, about 2%, for the Dow to below 7,000, with Nasdaq and the S&P 500 also tipped to fall by about 2%. Quote Link to comment Share on other sites More sharing options...
PotNoodle Posted March 2, 2009 Author Share Posted March 2, 2009 Apart from the post Dot.com blip, both FTSE and Dow are at 12 year lows, shivering as they wait for further bad news. Time to invest or time to quit ? What else do investors invest in ???? Quote Link to comment Share on other sites More sharing options...
no_more_bull Posted March 2, 2009 Share Posted March 2, 2009 Apart from the post Dot.com blip, both FTSE and Dow are at 12 year lows,shivering as they wait for further bad news. Time to invest or time to quit ? What else do investors invest in ???? Houses. Haven't you heard of the Spring Bounce?? Quote Link to comment Share on other sites More sharing options...
PotNoodle Posted March 2, 2009 Author Share Posted March 2, 2009 Houses. Haven't you heard of the Spring Bounce?? Yep. Heard of it. Just waaaaiiiiiiiting to see it. Quote Link to comment Share on other sites More sharing options...
Nicholas Cage Posted March 2, 2009 Share Posted March 2, 2009 Sterling -1.7% Dow -1.49% = Profit (for somebody somewhere) Quote Link to comment Share on other sites More sharing options...
PotNoodle Posted March 2, 2009 Author Share Posted March 2, 2009 (edited) Dow sunk to 6931. ASX holding steady at 1860. Sterling at 1.407 Edited March 2, 2009 by PotNoodle Quote Link to comment Share on other sites More sharing options...
D.C. Posted March 2, 2009 Share Posted March 2, 2009 Dow sunk to 6931.ASX holding steady at 1860. Sterling at 1.407 Dow dipped to 6778, I think that counts as breaching 7000 Quote Link to comment Share on other sites More sharing options...
Wonga Posted March 2, 2009 Share Posted March 2, 2009 It's fading again now Quote Link to comment Share on other sites More sharing options...
Leonard Hatred Posted March 2, 2009 Share Posted March 2, 2009 Try to run, try to hide, break on through to the other side! Quote Link to comment Share on other sites More sharing options...
MOP Posted March 2, 2009 Share Posted March 2, 2009 Dow dipped to 6778, I think that counts as breaching 7000 Well breached. Currently 6772 and falling with no signs of a rally yet. So are we headed for 5-6000 now? Quote Link to comment Share on other sites More sharing options...
Guest DisposableHeroes Posted March 2, 2009 Share Posted March 2, 2009 Well breached. Currently 6772 and falling with no signs of a rally yet. So are we headed for 5-6000 now? Shit springs to mind Quote Link to comment Share on other sites More sharing options...
MSWHPC Posted March 2, 2009 Share Posted March 2, 2009 dumping capitulation Quote Link to comment Share on other sites More sharing options...
Wonga Posted March 2, 2009 Share Posted March 2, 2009 dumpingcapitulation Yes. This month is absolutely pivotal IMO. Quote Link to comment Share on other sites More sharing options...
objective Posted March 2, 2009 Share Posted March 2, 2009 I must check my short S&P500 ETF sometime Quote Link to comment Share on other sites More sharing options...
Guest DisposableHeroes Posted March 2, 2009 Share Posted March 2, 2009 No PPT. Just left to the abyss. I guess Browns gone to the US to piss in the wind with Obama. Quote Link to comment Share on other sites More sharing options...
objective Posted March 2, 2009 Share Posted March 2, 2009 No PPT. Just left to the abyss.I guess Browns gone to the US to piss in the wind with Obama. That's the best thing they could do. Everytime they interfere they just make things worse. Quote Link to comment Share on other sites More sharing options...
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