Another 400+ points downt he drain...
- Thread starter Sun Tzu
- Start date
These cry babies can't wait to blame Obama. Like when Bush asked for the bailout they blamed the Dems. Eight years of Bush and his ass kissing followers have driven us here. He should of been impeached for lying us into a war and keeping us there to the tune of 10 billion a week or whatever it is whiloe his buddies get rich. Too bad Bush lovers time to pay the piper!:kiss:
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i got to second that and say he sounds like
a pussychops .
The whole reason we have lost 6K off the high of the stock market is solely on Obama's shoulders, when people who have money in the market started to think democrats could win the White House they started selling. It is only going to get worse from here. We are going into a depression, high taxes and socialism will not help the stock market, especially if he lets the Bush tax cuts go away in 2011.
kiss your money goodbye...:sadwave:
Yep. no one. It's going to be a huge surprise and everyone in the market waits for the news before they buy and sell.
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November 5, 2008, 9:42 am
ADP Report Indicates Large Drop in Private Sector Jobs
Private sector jobs fell 157,000 in the U.S. last month, according to the ADP national employment report, released Wednesday by payroll giant Automatic Data Processing and consultancy Macroeconomic Advisers.
That?s more than the expected 100,000 loss seen in a Dow Jones Newswires survey. September?s report was revised to a loss of 26,000 from a modest 8,000 decline.
?October?s ADP National Employment Report offers evidence of a labor market that continues to weaken,? said Joel Prakken, chairman of Macroeconomic Advisers. ?This month?s employment loss was driven by the goods-producing sector which declined 126,000 during October, its twenty-third consecutive monthly decline.?
He added that October?s overall decline does not reflect the strike of some 27,000 machinists in the aerospace industry during September and October.
Prakken said of the October data that ?you?d have to go back to 2002 to see (ADP) job losses like this.. and remember, in 2002 we were emerging from a recession.?
The ADP official said it?s ?entirely likely,? that it won?t be long before monthly job losses of 200,000 or more are seen.
An eventual turnaround may not happen until the second half of next year, Prakken added.
Large businesses, with 500 employees and more, shed 41,000 jobs and medium-sized businesses lost 91,000 jobs in October. Small businesses, which employ fewer than 50 workers, shed 25,000 jobs.
Manufacturing employment dropped 85,000 in October.
The weakness in the ADP jobs report follows bad news on jobs also contained in other economic data. The Institute for Supply Management, a private research group, said its employment index was a low 34.6 in October from 41.8 in September and 49.7 in August.
Also, a report from the Conference Board on consumer confidence indicated consumer are increasingly pessimistic about the labor market. In October, 37% of consumers thought jobs were hard to get, a jump from 32% in September. At the start of 2008, only 20.6% felt that way.
All of this suggests the U.S. government?s October employment report ? due out Friday ? may be the worst yet in this business cycle. Economists are expecting a 200,000 drop in nonfarm payrolls, from declines of 159,000 in September.
The 27,000 striking machinists that were not part of the ADP October report could be in the official payrolls report, ADP?s Prakken said, adding that the 200,000-drop forecast sounds about right.
ADP?s report does not include government jobs.
Based in Roseland, N.J., ADP claims to process the payment of one in six U.S. workers, while Macroeconomic Advisers, based in St. Louis, is an economic consulting firm. The firms release this indicator each month at 8:15 a.m. ET on the Wednesday prior to the release of the Labor Department?s Employment Situation report. ?Dan Molinski
Honestly, why should the markets be excited about future programs that have never been proposed? In case you missed it, W is stil lin the White House and Obama cannot propose anything until he is sworn into the White House. We have went through 8 years of bullshit, so lets hold fire until the guy gets a chance.
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Master
there are alot of times when you and I think so closely the same thoughts, it scares me.
and it probably scares you too :142smilie
these neocons are frighfull
Let me see I got --Stevie-MC-Scott-BBC-Smurph and 3 seconds lecturing me on the market on premise of estimates already out.
Would someone else who actually follow the markets give them a 2nd opinion of what key factor moves many stocks on a given day
--it wouldn't be whether their actual #'s are lower or higher than prior estimates --would it?
DUH--is anybody home?
Would someone else who actually follow the markets give them a 2nd opinion of what key factor moves many stocks on a given day
--it wouldn't be whether their actual #'s are lower or higher than prior estimates --would it?
DUH--is anybody home?
A given day? You aren't that dumb. Nothing special about a given day. Your just being purposefully stupid right now. I'm not falling for it.
Yep. The estimates for the job report changed one day after the election, but you said that there was no other economic news besides the results of the election.
I know you know better - that's why I'm unsure why your making that argument
A given day? You aren't that dumb. Nothing special about a given day. Your just being purposefully stupid right now. I'm not falling for it.
Excuse me Smurph but I think we are debating significance of estimates and actual #'s.
It all started with with Stevie--implying market was down because of estimates--these estimates have been knowb for some time--
Maybe we clear this up about estimates vs actual #'s on market--
Read financial headlines this morning before the bell then :grouphug: and let me know if you can admit being wrong.
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Reuters) ? Stock futures pointed to a higher Wall Street open on Friday, with futures for the Dow Jones, S&P 500 and Nasdaq up between 1.7 and 2.4 percent.
Highlights:
* All eyes will be on the non-farm payrolls data for October, due at 1330 GMT. About 200,000 jobs were lost in the month, according to Reuters forecasts, which would be the biggest drop since March 2003, confirming a picture of a weaker economy.
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Make that all eyes but Stevie and his crew--they already got their estimates from MSNBC.
Excuse me Smurph but I think we are debating significance of estimates and actual #'s.
It all started with with Stevie--implying market was down because of estimates--these estimates have been knowb for some time--
Maybe we clear this up about estimates vs actual #'s on market--
Read financial headlines this morning before the bell then :grouphug: and let me know if you can admit being wrong.
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Reuters) ? Stock futures pointed to a higher Wall Street open on Friday, with futures for the Dow Jones, S&P 500 and Nasdaq up between 1.7 and 2.4 percent.
Highlights:
* All eyes will be on the non-farm payrolls data for October, due at 1330 GMT. About 200,000 jobs were lost in the month, according to Reuters forecasts, which would be the biggest drop since March 2003, confirming a picture of a weaker economy.
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Make that all eyes but Stevie and his crew--they already got their estimates from MSNBC.
wasn't the discussion about the drop the last 2 days, not what happens today? :shrug:
probably confirms murph's guess that the drop was due to profit taking after a nice run in a bear market :shrug:
just asking as i don't know that much about it.
--Changed where--provide link please on change day after election--
--but lets say for sake of arguement you are correct and they revised it--exacting how much of a revision in a job market they know is declining would it take for 500 point drop. Do you really think jobs forcast hasn't been factored in---
Ok let me pose this question--why do you think market is up pre bell before report comes out?
Any thoughts--
http://www.forbes.com/markets/2008/...con-cx_mp_1105markets32.html?feed=rss_markets
The U.S. private sector lost 157,000 jobs in October, according to Automatic Data Processing, provides payroll processing to many companies and uses its data to predict overall American employment statistics. The drop in payrolls was much wider than the 115,000 decline expected by economists and doesn't bode well for Friday's employment report from the government. The Labor Department's data--considered the most accurate measure--includes government jobs and typically shows deeper declines than the ADP National Employment report
IMO Yesterday drop would have little to do with election--lots of negative factors out Cisco dismal outlook one key factor.
The day after election very little pro or con --and I made note in other thread probably some profit taking after 5 day run--but not to the tune of 500 points--IMO it was investors taking a defensive posture as most investing firms but definately not your general media made note of.
I put chart up on post election moves for decade.
Ok I guess we write it off as coincidence that it was lowest ever--then we can write it off as coincidence that it was 4 times normal move.
The one thing we can't write off is you'd think the market would have surged regardless on jubilatiion of his huge flock of rock star followers alone--
Why didn't it--could it be that investors might not get same tingle down leg from the hope-change rhetoric as the bama boys? Just a possibilty
